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Dang, yesterday they were just thinking about things. Now, they're actually considering them. That should be good for about a thousand DOW points or so.
Yes it is amazing. But it's December. In short, be long or be wrong.
Well, that should make everything better. Now all these guys have to do is say they are "thinking" about doing something and the market rallies. I guess it's nice to know they are thinking about something.
Sure looks that way
You just can't get in front of this freight train. There's no stopping it right now. The central banks are going to throw however much money is required to make things look good in Europe and the stock market will revel at the thought, never mind that that will not fix the underlying problem. The PIIGS are still broke. Just no one wants to admit it.
Of course it is. We just have to get more of these folks out of a job to quit looking for a job and we can make that unemployment number look better every month.
Shiver me timbers. Hopefully, the "Committee" will look kindly upon me.
No. Never happen. If the possibility should loom large, the Intergalactic Federation of Planetary Bankers would bail us out, deeming the Earth too big to fail
No, actually I'm dead serious, although my example was a bit tongue in cheek. The seasonally adjusted new home sales for October were reported at 307000. But last month, the September SAAR was reported at 313000. So, one might conclude that there was a decrease of 1.9% M-to-M. But wait, says the gov. we made a mistake. Sept. should only have been 303000, not 313000, so actually there was a 1.3% increase M-to-M rather than a 1.9% decrease. Poof, just shows how "adjustments" can make things look better. I didn't see anything in the report that said, "Oh, by the way, we should also temper that big whopping M-to-M increase we reported last month, since the SAAR for Sept. was overstated.
I might also point out that total actual sales for last year was 323000 (the worst year on record) and that through the end of October last year, the actual sales were 279000 units. This year, the actuals through October are 260000. So rejoicing about that 1.3% might be a bit of looking through rose colored glasses.
I thought you would especially like the construction new starts report from yesterday that showed a 1+% increase from the previous month, only because the previous month was revised downward. That was a pretty cool trick. I think it would be possible for housing starts to steadily decline to zero while this little slight-of-hand would enable the report to show a continual M-to-M percentage improvement. Something like this:
Month 1: Starts = 300000
Month 2: Starts = 290000, but revise month 1 downward to 280000 so that month 2 has an M-to-M % increase of 29/28-1 = 3.6%
Month 3: Starts = 280000, but revise month 2 downward to 270000 so that month 3 has an M-to-M % increase of 28/27-1 = 3.7%
and so forth.
Eventually, after 30 months, housing starts would be zero, but every month along the way would show a percentage improvement over the preceeding month.
Me too, though I did buy some (not much) QLD right at the bell hoping for a Black Friday pop. It happens sometimes.
I've shot pool for years and have had several quality wooden sticks and, while I know it is heresy to say so, I like any of the six matching graphite shaft sticks I have in the rack by my table now as well as any of them.
Tom Cruise reportedly used a Balabushka in Color of Money 2
Yep, it happens all the time. It costs the big houses very little cash to lift the "value" of their whole portfolio 1.5 to 2 percent since there is very little resistance to their buying.
Canny, you know these numbers count for a lot whenever they tick up but that they have already been discounted whenever they tick down.
Joe P. and Graham Spanier (Penn State pres) fired over scandel. Only thing the university could do given the circumstances. It was the right thing.
Ah, I love the smell of nuclear fusion in the morning.
But then next will come the Spanish Rally. And after that, Poland I suppose. There are over 250 countries in the world. If they keep getting into trouble and bailed out, the DOW could easily top 20,000
Well, you know the Street will have to orchestrate a behind the curtain bailout of Italy. They need their Versace suits, after all.
Beware of Greek's bearing gifts
Well, now that's a thought that has never crossed my mind before
Probably right, but how do we control it when the sinners have a vested interest in making sure that it is not controlled.
Remember the descending order of importance in D.C.
(1) Get re-elected
(2) Partisianship
(3) Pork
(4) Good of the country.
Newly, I'm not trying to argue with you because you make very good points here, but do you think that Glass-Steagall was repealed because some Senator woke up one morning and had an ah-ha moment that told him G-S was a bad thing? Or, do you think there may have been some big money from big banks flowing into the campaign coffeurs with a lobbist or two whispering in that Senator's ear?
Or a rocket ship. Or on Monday. Or in November. Or...
How many outstanding shares are there after the IPO. Just curious as to what the CAP is?
Lee, I liked yours, but I think we should, perhaps, consider flogging him first followed by a dousing with briny seawater. Then do the shed thing.
zab wrote: <<its better to spend money and have memories from using it, then to just not wake up some day and leave it to my loved ones.>>
Well said. There has to be some purpose to all of this, more than simply accumulating wealth just for the sake of it. That's why I will never be a bezillionaire. Should I ever reach the point where the added money is nothing more than a means of keeping score, my interests would drift to something else more personally fulfilling. That, plus the fact that I'm not good enough at this trading stuff to ever be a bezillionaire in the first place
What a surprise
Singles add up. If there are 250 trading days in the year and you add just 1/10th of one percent in value to your portfolio every day, that annualizes to a 28% return:
(1.001)^250 = 1.283
Not too bad. All you have to do is make a nickle a day on a $50 stock. The catch is, for course, that you have to do it with every cent in your portfolio every day for 250 consecutive trading days. OTOH, if you use margin at 50%, you only have to make 2 1/2 cents a day on a $50 stock, every single day for 250 days. That should be easy enough. Right?
Would that he were alone in this game of potentially huge payoffs by taking big risks with OPM. Recall a few years ago. How many of those boyz wound up in Club Fed?
OTH, we call what we do around here "investing", but we are all guilty to some extent for making the system be what it is. It's gambling, pure and simple. The GIANT difference between us and the sharks on Wall Street is that we do it with our own money.
You mean that all isn't right with the world economy just because a few Greek guys don't get to vote on it?
You bet. I give up. I'm going all-in long and crossing my fingers.
No, probably not. We don't either, but it never seems to keep us from ponying it up.
I wish I had your discipline and could trade the way you do. I unfortunately have this overhelming self-conviction that makes me feel that the market should be doing what I think it should be doing. And when it's not, I freeze.
Not happenin' today, methinks
Wow, Lee, you're good. I don't seem to understand what is happening between about 9:30am till 4:00pm
OK, there was the downdraft. It's 3:00 on the street. Time for the jam now?
Well, it would save me 8 months of screaming at my computer monitor. Who knows, I might even end up with a life again.
Looked for a moment that they were going to try and jam it a little early today. Who knows...maybe well have a last hour sell off. Ya' think....Nah.
Looks like another jam a brewin'
News about Wall Street getting ready to can about 10,000 jobs...
...unless, of course, they can create a need for themselves. Let's get the public interested in the market again boyz. Crank up the boiler rooms. What we need in The Self Preservation Rally