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LOL!
LOL! The market's going to close green today. There must be some good news we don't know about. Maybe the bottom actually WAS hit.
Millionaires made overnight. Hehehe
I think we tank, therefore I'm buying DIA calls. I'm always wrong so I try to trick fate the best I can.
I thought it would have found new lows by 2 weeks ago. I'm perplexed why it's remaining over 8k.
I guess there's more folks value shopping than we thought.
.DIJXZ - $78 Dec Puts - IMO, it's time for the market to finally let the bottom out. I think the street was holding out for better holiday spending and now that's done, there's absolutely nothing else to look forward to.
How crappy would it be if folks had BHUB in an account they don't look at regularly and miss some sort of buyout, new listing, etc. only to come back a few weeks after a HUGE run to find it right back where it is today?
Ouch.
Heard someone was using my name in vain. LOL!
I'd just like to see the DOW drop into the 6k's any range. That would make for a very merry xmas.
Do we have time for that before Dec. expirations? If not, I guess I'll settle for the Grinch. Hehehe
I hope the Saudi King is watching the price of oil drop. LOL! I wonder if he'd like a ham sandwich with that?
We're buying gas for under $1.50 here. Hehehe.
Looks like the DOW's gearing up for another big drop, IMO. Yesterday was a good day to buy puts on DIA and today's offering those opportunities as well.
Good luck!
Here's a nice snapshot of what inflation is using what the President's salary was compared to today and equating to today's dollars:
Date established Salary Salary in 2008 dollars
September 24, 1789 $25,000 = $566,000 Today
March 3, 1873 $50,000 = $865,000 Today
March 4, 1909 $75,000 = $1,714,000 Today
January 19, 1949 $100,000 = $875,000 Today
January 20, 1969 $200,000 = $1,135,000 Today
January 20, 2001 $400,000 = $471,000 Today
http://en.wikipedia.org/wiki/President_of_the_United_States
LOL! Love the 2nd one.
UAW to Big Three... We'll allow you to start paying your employees wages and benefits closer to what a free market will allow so that said employees can still have a job.
http://news.yahoo.com/s/ap/20081203/ap_on_bi_ge/autos_uaw
What??? That's even on the table? How bout, "UAW, take a hike and relinquish your members from having to pay dues that caused this mess to begin with."
What does it say when Soap stars/producers/owners know what to do when demand drops but the CEO's of the big three didn't? LOL!
http://tv.yahoo.com/show/28652/news/urn:newsml:tv.ap.org:20081202:tv_cost_cutting_soaps__ER:81596
Now they're talking. Lee Iacocca worked for a dollar when turning Chrysler around back in the day.
"At first, being hired to head up Chrysler seemed like going from the frying pan into the fire. This venerable company was on the verge of bankruptcy, and I had some tough decisions to make. To save the company, I had to lay off some workers, sell off our European division and close several plants. And of course, I had to secure the now famous loan we received from Congress-which I paid back early with interest.
Once Chrysler was solvent, our next step was to seriously rethink the market. We realized that there was a simultaneous need for two very different types of vehicles. The first was a more fuel-efficient, "compact" vehicle (the country was in the midst of a serious fuel crisis). The second was a concept vehicle that inspired me to bring over my old friend Hal Sperlich from Ford. Together, we spearheaded development of a prototype we'd initially kicked the tires on at Ford - the minivan. The minivan was a phenomenal success, and a precursor to the SUV."
http://www.leeiacocca.net/my-life/index.aspx
Somehow, he figured it out without the government then.
People like him are far and few between, thus generally don't show up in front of congress asking for a bailout.
It's not just her but you'd think that our congress and president ran the printing presses themselves. LOL!
I can't believe the States whining about deficit's and their budget (lack-there-of). And cutting spending never seems to be an option. God forbid.
LOL! The government hasn't passed up a spending initiative in a long time! GM calls are a good bet. Hehehe
Great day to enter some DIA puts after the open today. Good luck!
Well, I threw out the $30 per barrel number as IMO only. LOL! So take that with a grain of salt.
Consider this though. Technology offering higher mileage cars that double 3 years ago mileage and will probably be better than that 5 - 10 years from now, yet the driving population won't double during that time.
It's going to get really ugly for the Middle East if they don't find another source of income. Imagine having oil that no one wants or needs. They would do well to look towards Dubai for an alternative means of revenue. Of course, that would mean they'd have to give up a lot of that Theocracy rule B.S. and start being nice to those who aren't Muslim. LOL! Interesting how money talks louder than Allah.
IMO, they didn't count on the price to drop so low. I won't say they are broke! LOL! However, when you consider how many millions of barrels of oil they sell, going from $100 to $50 is a HUGE decrease in revenue for them.
IMO, they are going to do nothing but work on a strategy to advertise a shortage enough to bring speculators in to bring the price up. And they couldn't figure out how to do that over this weekend.
Give it a few weeks and watch the PR's and Reuters articles flood the media with claims of shortage. Make no mistake, they won't stop when the price is at $75 per barrel. They have A LOT of revenue to make up so they can fund their nuclear agendas.
Even when the price went up to $147, out of 5 news releases about supplies, at least 3 out of those 5 showed supplies increasing. Nothing scientific. I just read a lot of articles during that time on oil and most showed that supplies were increasing.
Enjoying watching this unfold:
The Saudi King says oil should be $75 per barrel. I'm certain he ran that through supply/demand models to get to that price. However, even when they cut "some" production, speculators kept the price in the $50's.
http://news.yahoo.com/s/ap/20081129/ap_on_re_mi_ea/ml_opec_meeting
Now, OPEC is delaying cutting production until they meet again.
http://news.yahoo.com/s/nm/20081201/bs_nm/us_markets_oil
They continue to defend a $75 per barrel price but I'm not sure they can afford to cut production right now. IMO, if they cut production, the price won't sky rocket the way speculators allowed it to just a few months ago.
Also, every month, new high mileage cars are being sold and old junkers are being trashed. Give it 10 more years and OPEC will be tripping over themselves to sell us oil for $30 per barrel.
Then consider the U.S. being able to tap this:
http://www.americanfreepress.net/html/u_s__has_massive_oil.html
LOL! What's a Middle Eastern King to do?
We actually finished most of our shopping before Friday but my wife went out at 1am with my oldest son to help carry everything.
You guys have plenty of time and you have to know the deals will be there up until xmas anyway. I was going to go to Homedepot early to get a new DeWalt 18v drill for $99 on Friday. BUT, they had the deal online Thursday evening so that's what I did. They were out by Friday! Check online first!
I can't believe those shoppers killed the NY Walmart employee by trampling him on Friday.
Either way, ole' Steve Balmer must be sleeping well since he decided against giving up almost 50 billion for Yahoo when all he had to do is wait a few months and buy the parts he wanted for less than half! LOL!
Probably be really good for both companies.
If the Market continues a rally, IBM should prove to be a big mover, IMO:
http://www.fool.com/investing/dividends-income/2008/11/28/a-big-upgrade-for-ibm.aspx
FWIW, many "Fool" bloggers are becoming more optimistic with the company.
Interesting how Icahn bought merely days before a new Microsoft interest is announced.
Martha Stewart, anyone?
True. From what I read, Black Friday is only about 10% of Holiday buying and this year, there are only 27 days of shopping between the mega day and xmas compared to last year, there were 32 days.
But I did manage to get a 32" LCD TV for my daughter for less than $400! To your point. LOL!
The entire Market should be up consisdering Black Friday shopping was up 3% from last year. Just because stocks are down doesn't mean folks don't have money.
Maybe we will be able to use Outlook Express with Yahoo E-mail the same way you can with hotmail without the need of paying for a POP server. LOL!
It will be interesting to see what the shares do on Monday.
They must hate that Mike A is backing Rufus. Goes against all they've thought for over 2 years.
Like converting a Muslim to Christianity. LOL!
Get your USO calls. The media has started pumping oil prices again:
http://www.foxnews.com/story/0,2933,456545,00.html
http://money.cnn.com/2008/11/21/news/economy/two_dollar_gas/index.htm
http://biz.yahoo.com/cnnm/081122/112208_gas_prices.html?.v=2
The media's worse than POS penny stock promoters when it comes to oil and gas prices.
Here we go. The media decided gas was too cheap so they went on a search for an analyst to agree that we've hit the bottom. Up from here:
http://www.foxnews.com/story/0,2933,456545,00.html
Go ahead and get your USO calls. While we do that and speculators drive the price up, OPEC will be watching the close get higher and higher which will determine the new price. Awesome.
At the same time, as the price is artificially inflated, we'll start seeing 1 out of 3 articles on demand say that demand is up. The other 2 out of 3 will simply state the obvious that demand is flat just like they did on the way up to $147 per barrel (I was keeping count back then). LOL!
To be fair, the analyst in the article says that demand will drive the price up. I'm pretty sure that the media spreading an article about oil hitting the bottom will cause massive short covering, as well as, buying interest by speculators just like your run of the mill POS penny stock. Here we go!
Visa to $35 anyone? May wait for a pop and buy some puts. Probably not until Monday or Tuesday though.
Wow! Only the maffia can offer a loan they know the borrower can't afford to pay back and still stay in business. Because they can break their legs, take a life, or take as much property they want at will when the borrower doesn't pay it back.
WTF were these clowns thinking by lending out these mortgages KNOWING that when the rate shot up, the borrowers wouldn't be able to pay the note? What did they do? Sign the agreements with the borrower and hold their breath hoping that when a $1000 payment went to $3000, the borrower was just going to quietly pay it?
LOL!
If a restaurant sold a product that "MIGHT" cause harm to someone and the product "DOES" cause said harm, then that restaurant is held accountable.
Should not be any different for banks either. Let them fail.
Maybe someone will step up to the plate and make an offer of $5 per share. Other than that, I can't see any significant rebound, IMO.
USO is probably going to go up a while. Are we really serious here? Are we saying that the UN plans to do nothing about these pirates? We're just going to make it more inconvenient for companies routing their cargo ships because no one wants to or has the balls to plant a morter in the ass of these pirates?
http://news.yahoo.com/s/ap/20081121/ap_on_bi_ge/piracy
Frontline Ltd., which ferries five to 10 tankers of crude a month through the treacherous Gulf of Aden, said it was negotiating a change of shipping routes with some of its customers, including oil giants Exxon Mobil, Shell, BP and Chevron.
Martin Jensen, Frontline's acting chief executive, said that sending tankers around South Africa instead would extend the trip by 40 percent.
We're talking open water here and we know these guys aren't that elusive. We even know where they dock the ships for ransom. Blow those bastards to "World's End" to meet Captain Jack Sparrow... or Allah. Whatever their poison is. Geeze, this world has gone insane.
Give me a break. It took me time to come to accept how truly bad the market is. LOL! Even so, IBM is still one of the stongest companies out there considering.
I just want to accumulate as much as possible at these levels at this point. Hehehe
IBM about to break $70. Once it does, who knows how low it will go.
Red.
You could see pretty quickly that the strength is not there to sustain it.
They say don't do it but I think the smartest thing I've done with my 401k was to take out a nice chunk of a loan from it. No penalties and I'm paying myself back 9%. A bit of 401k money not affected by this dismal market.
Something to think about, IMO.
Let me know if it works out!