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I've been buying SDS (SPY short) since the $40s, and selling for a loss. I finally had a gain yesterday ($22.50), but thought the market would bounce a little more. So I sold my SDS for a small profit (maybe $50), only to watch it go up $2+ today. So, as usual, I left $200 on the table. At least I was mostly in cash before the selloff today - 5%. Unreal!
MF4
SCStocks,
That move was simply a technical bounce. SPY 125 was strong support for the last two selloffs this year. Since it has already retested and broken the support today, the technicians will say that SPY 125 is now resistance on any bounce, assuming it closes the day low.
MF4
Then I'll be shorting Varney's new company, if the rumor's true.
MF4
GFP,
Here's how to get our country out of debt:
Announce the following timetable to give companies time to be established here and ready.
1. Abolish GATT and NAFTA. Impose 50% tariffs on all goods coming into the U.S. effective 2014
2. Announce interest rates staying where they are until 2016.
3. Lower the corporate and individual tax rates effective 2014.
4. Tort reform and limits on legal judgements.
5. Get the hell out of these bogus wars.
Result:
All manufacturing that left the country thanks to NAFTA will come back because the tariff will make producing goods here more cost-effective. They will buy/refurbish abandoned buildings and hire workers.
All this new economic activity will increase the velocity of money exponentially, GDP would double, and the government would take in enough revenue to retire the debt. Then interest rates can go back to 5% and we can concentrate of reforming government.
MF4
Bigworld,
Kennedy was planning to expose Oz, and he got shot. What makes you think Paul would survive the first month, if he got elected President?
MF4
Bigworld,
You can re-use them. No need to buy a bunch. Two for D.C. One for every other state should just about do it. The revolutionary mobs could have portable ones too.
MF4
GFP,
Yeah. I'm gunshy since getting skewered on CORX. Still, PTN seems like they actually have a decent management team and products moving forward. I've been dabbling for two years now in PTN. Under water so far. What else is new?
MF4
GFP,
You're the biotech guru here. Have you ever looked at PTN? Seems like they are where CORX was before CORX jumped to $5.80
PTN is selling in the low $1 range today. Thoughts?
MF4
The Dow is up some 600 points in one week. Amazing how the FED can cause a rally by making chart scenarios happen, since most trading is now technical. You have great courage to be shorting the FED. It seems that just when the scenario to be correct on a short unfolds, they swoop in with their full-court manipulation and steal your profits. My life has become much more enjoyable since I switched to mostly watching periodically the market.
Happy 4th to all,
MF4
Big,
What do you think of this latest market rally? How are they getting the market to rally by goosing the futures when QEII is supposedly ending?
MF4
marijuana is well known to be a creativity stimulant, especially for music. Moderation and tolerance are the keys to it's use in society.
MF4
GFP,
I think Ombow thinks of God the way comedian Rick Overton describes "step-God". Hilarious.
Hey Big_Time,
Have you seen your money yet? Have they let you visit it? Everyday, it is getting closer to the light and you will never see it again.
MF4
The absolute worst thing would have been if she had dosed Nixon. Having an unexpected LSD trip, for a square like Nixon would have resulted in insanity. And then the complete demonization of counter-culture drug use.
Dosing somebody unexpectedly is no light matter. It's similar to a mental rape. It is profoundly uncool. Pot may be a relatively recoverable, mild drug, after the fact. But LSD is in a totally different league, lacking the pleasant, sensual affects of pot. One dose of LSD can change a person permanently.
I think pot should be legal, but it needs to be stressed that every drug is it's own entity, with very different effects and consequences. I don't think keeping all drugs illegal is necessarily the answer, but somehow young people need to understand that some drugs can F you up forever.
I think the first step is to legalize pot because that's usually the first one they try. And when they realize how good pot is, they tend to assume all of the government anti-drug propaganda is BS. Then they try the other stuff.
Start by being honest. Pot is not the demon the government says it is. Meth, coke, heroin are. Young people aren't stupid. Be honest and admit that the war on pot is stupid and declare it over.
MF4
Ombow,
Ok. I rescind my previous comment that you are delusional. This latest discussion shows you to be rational.
MF4
WOW! CORX was up 25% today! Sign of good things? Somebody "know" something?
What? 11,000 shares? That's what, $1,100 worth of stock for a full day of trading? .................. nevermind.
MF4
Bigworld,
MJ has an effect that tends to discourage reckless driving. Mainly that it tends to make one more sensitive to stimulii, real or imagined. Pot users under the influence tend to not want to drive or deal with that stress. They may tend to be too careful, or drive too slowly. They would prefer to close their eyes and relax.
Although stoned people often appear "stupid" to the casual observer, this tends to be caused by most of their processing power being diverted to some typically insignificant detail, like the way two colors work together to create a profound, subjective mood altering effect.
The stoned may be annoying to talk to, or fairly unproductive, while high, but they typically are relatively harmless to society in general. Alchohol is much more deadly behind the wheel because it tends to make people fearless, and LESS sensitive to their environment and their actions.
But, I too would prefer people driving be totally on task, including not on cell phones or texting.
MF4
Everyone is expecting a big market selloff when POMO is done. You know the market never does what everyone expects.
I could see something nefarious happen that Friday. Like a big panic selloff in the morning and a huge reversal late in the day that begins a summer rally from some unexpected, but well engineered event.
MF4
Big,
Again wew disagree. BS and the E Street band - the best?
First AND best concert I ever saw was Zeppelin at Madison Square Garden. They put on an amazing show for about 3 hours. Talk about talent and versatility! I was watching greatness. It was profound and powerful.
Nothing has come close, but Rage Against the Machine was tight as a gnat's ass.
MF4
Bigworld,
Normally, you make sense, but listing Soros' penchant for pot legalization as a supporting point for his possibly being "the beast" is absurd. I'll remind you that god put marijuana on this earth to grow naturally. It is injested in it's natural state.
However, cocaine, crack, heroin, those are altered by man, from god's natural plants. And meth is altogether artificial.
MF4
Oxbow,
You are delusional.
MF4
It's all you, buying shares at market, Oxbow.
MF4
I bet it's not.
I don't which will be my worst stock of a lifetime. 1,000 ESLR from $18 to .10 or CORX - had 10,000 shares at $5.80 and held. Bumping .10 this week. What a loser!
MF4
To any of you biotech guys: Do any of you have any thoughts on Palatin PTN with their bremelanotide drug? I think it looks good. But, I liked Cortex too.
Any input is appreciated. TIA,
MF4
I think CORX needs a minimum of $100M, and a new management team. Repackage it into an IPO, add an internet component and try to make money from advertising first, drug development second. Rename it Cortex.com and you'd have something.
MF4
OOOPS!!!
Hopefully you can go visit your money in money heaven, since you've sent it into the abyss today.
MF4
As one of the 3 contestants, I too cast my vote for Ace.
Hawking suppositories in Lower Squatney! LOL! Gotta love it!
MF4
It's simple. Servier has a half-hearted interest in ampakines. They are proceeding with trials. They may not see anything promising yet, but they don't see anything negative either. They need 2-5 more months before definitively ruling on the molecules.
Varney contacted them and said help. They aren't ready to buy the farm, BUT they don't want CORX going under before they have all of the facts. How much do you need to keep idling for another 3-6 months? OK. Here's $1M. Give us the options on the molecule until we get all of the facts.
In the meantime, you can play internet poker and enjoy the booze and broads for another 3 months.
It's just an extension of the mediocre terms that have been in place for years. But, it is a sign of some potential. Which is more than the market is giving it.
MF4
And why did Servier return the rights they had to that other molecule within the last year?
I would like to swap some CORX for Servier, but they appear to be a private company.
MF4
Ombow, Then it will remain so. You will get no funding. Good luck though.
MF4
And the stupid Americans pay the toll and get body cavity searched at airports.
As far as I'm concerned, Hank Paulson is a first-degree traitor and deserves the elctric chair, or better still, a hanging or on his knees at the guillotine.
MF4
The Parkinson mice were last seen in a 6 foot box. Location of the box is currently unknown.
MF4
GFP,
Have you figured out how to invest in Servier yet? What's their stock symbol?
MF4
BlabberMore,
Oh, you've hurt my feelings now. How will I ever go on?
MF4
That should be good to get them through another summer of booze, broads and internet poker. So, is it true that they sold the farm for $3M?
MF4