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And no. I didn't invent a new way to convert plastic to oil.
LMAO
Buzz
Hint: It has nothing to do with the market. eom
What have I been up to for the last year? I'll let you know soon.
Buzz
Then i will just not go to the store on Monday. eom
Hope all the permabears finally figured it out and got long at the close.
Buzz
RCKS, Most of those calling for a "big top" are simply quoting prechter as they are all on his count. Prechter does one thing well. He tells permabears what they want to hear and charges them a lot of money for it.
Buzz
you been following the IPT thing? eom
More like a pin prick than a blood bath. eom
I think you're a few days early bliss. I would like to see a blow off top first with true buying capitulation prior to entering anything on the short side. Too many hacks still calling for yet antoher top and looks like 1610 area will be the peak, maybe 1620 if there's some real euphoria, but good luck on your entries and good calls from the long side last few months.
Buzz
Hey Sam -
I have never been a permabull. I am a pure market agonostic. I could give a shit whether we're in bull market or bear market. I just look at the data in front of me.
Buzz
And I think we see a new all time closing high on the S&P 500 tomorrow, Wednesday after the Fed at the latest.
Buzz
The same thing will happen tomorrow that happens evertime there's a sudden concern over some European country's debt issues:
Today will prove to be nothing more than a bear trap.
The ECB will say "all is well".
The Dow will rally 200 points.
You would think shorts and permabears would figure out the pattern by now but the great thing about permabears is they are permabears and never learn.
Buzz
LOLOLOL. eom
The last time Brig hit something with a wide spread he got the clap so I doubt it will be him.
Buzz
The UPRO/SPXU pair has much better volume that the SPXL/SPXS. The Direxion pair was introduced about a year ago when they did away with the BGU/BGZ (russell 1000 3x). So it hasn't really gained the following yet of the UPRO/SPXU. The UPRO does a better job of tracking 3x the index although like all leveraged etf's there is substantial decay over time due to the derivatives, but for shorter term trading, it's superior to the spxl/spxs.
Always remember the leveraged will never return 3x over a long period of time because of derivative decay which also means it can go down more than 3x on a correction. I trade the UPRO/SPXU but never hold longer than 2 weeks.
Buzz
Anything going on?
They always do ....
when the vast majority of retail traders on public message boards are calling for a "top" then you know you should be long.
My son is a sophmore at NYU and holded up in his dorm.
" " What, me worry? " "
Washington Square area so pretty far inland.
Buzz
Three unusual earthquakes that shook a suburb west of Dallas over the weekend appear to be connected to the past disposal of wastewater from local hydraulic fracturing operations, a geophysicist who has studied earthquakes in the region says.
Preliminary data from the U.S. Geological Survey (USGS) show the first quake, a magnitude 3.4, hit at 11:05 p.m. CDT on Saturday a few miles southeast of the Dallas-Fort Worth (DFW) International Airport. It was followed 4 minutes later by a 3.1-magnitude aftershock that originated nearby.
[Related: 63% of Americans not sure what 'fracking' is]
A third, magnitude-2.1 quake trailed Saturday's rumbles by just under 24 hours, touching off at 10:41 p.m. CDT on Sunday from an epicenter a couple miles east of the first, according to the USGS. The tremors set off a volley of 911 calls, according to Reuters, but no injuries have been reported.
Not a coincidence
Before a series of small quakes on Halloween 2008, the Dallas area had never recorded a magnitude-3 earthquake, said Cliff Frohlich, associate director and senior research scientist at the University of Texas at Austin's Institute for Geophysics. USGS data show that, since then, it has felt at least one quake at or above a magnitude 3 every year except 2010.
Frohlich said he doesn't think it's a coincidence that an intensification in seismic activity in the Dallas area came the year after a pocket of ground just south of (and thousands of feet below) the DFW airport began to be inundated with wastewater from hydraulic fracturing.
During hydraulic fracturing, or "fracking," millions of gallons of high-pressure, chemical-laden water are pumped into an underground geologic formation (the Barnett Shale, in the case of northern Texas) to free up oil. But once fractures have been opened up in the rock and the water pressure is allowed to abate, internal pressure from the rock causes fracking fluids to rise back to the surface, becoming what the natural gas industry calls "flowback," according to the Environmental Protection Agency.
"That's dirty water you have to get rid of," said Frohlich. "One way people do that is to pump it back into the ground."
In a study he recently published in the journal Proceedings of the National Academy of Sciences, Frohlich analyzed 67 earthquakes recorded between November 2009 and September 2011 in a 43.5-mile (70 kilometers) grid covering northern Texas' Barnett Shale formation. He found that all 24 of the earthquakes with the most reliably located epicenters originated within 2 miles (3.2 km) of one or more injection wells for wastewater disposal.
The injection well just south of DFW airport has been out of use since September 2011, according to Frohlich, but he says that doesn't rule it out as a cause of the weekend's quakes. He explained that, though water is no longer being added, lingering pressure differences from wastewater injection could still be contributing to the lubrication of long-stuck faults.
"Faults are everywhere. A lot of them are stuck, but if you pump water in there, it reduces friction and the fault slips a little," Frohlich told Life's Little Mysteries. "I can't prove that that's what happened, but it's a plausible explanation."
History of human-induced earthquakes
Oliver Boyd, a USGS seismologist and an adjunct professor of geophysics at the University of Memphis, agrees that, in general, links between wastewater injection and seismic activity are plausible.
"Most, if not all, geophysicists expect induced earthquakes to be more likely from wastewater injection rather than hydrofracking," Boyd wrote in an email to Life's Little Mysteries. "This is because the wastewater injection tends to occur at greater depth where earthquakes are more likely to nucleate. I also agree [with Frohlich] that induced earthquakes are likely to persist for some time (months to years) after wastewater injection has ceased."
For past examples of likely human-induced earthquakes, Boyd points to the story of the Rocky Mountain Arsenal, a now-closed U.S. Army chemical weapons manufacturing center that operated just outside of Denver until the early '90s.
In 1961, the Rocky Mountain Arsenal drilled a 12,000-foot-deep (3,658 meters) waste fluid disposal well near Denver. According to the USGS, "an unusual series of earthquakes erupted in the area soon after."
Use of the well was discontinued in February 1966. A year and a half later, on Aug. 9, 1967, a 5.3-magnitude earthquake, the most powerful in Denver's history, struck. It was followed by a 5.2-magnitude quake in the region that November, according to the USGS.
how'd you get outta jail so fast? while you and brig are locked up who pitches and who catches?
What did their big mouths do this time????
Buzz
What's goign on with JBII been out of the loop for a bit. Is it close to accumulation price again or did the whole thing turn out to be a scam.
Thanks.
Buzz
This looks Interesing, pulled it off of facebook
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July 4th week is typically the lightest volume week of the year.
Half day trading tomorrow ...
Closed Wednesday.
Half of wall street takes the week off.
Buzz
Hang Seng up 2.09% right now, S&P futures up 1.27%. eom
Thx, just found it. Very funny the way it's written. Have a great night.
Buzz
Yeah, i'm watching it, what just happened? Ben talk in his sleep and say "qe3 tomorrow". Really heavy volume too.
Anybody know why futures just went up 1.2% in 15 minutes?
SPY was trading x dividend on Friday. .68 was the dividend so adjusted down .68 at the open casuing the disparity between SPY and SPX.
Buzz
what are you using now?
Nice looking inverted head and shoulders appears potential big break to the upside.
Buzz
IMO the selloff won't resume until after Bernanke speak on Thursday.
Buzz
EDS currently up 43% from my suggested 2.00 accumulation level. Has been a nice contrarian play recently.
Buzz
Prechters calls on commodities, currencies and bonds have actually been on. But when it comes to equities he has been dead wrong except for his call on the 2009 bottom which I forgot about. He spent the last 2 years calling for a drop to s and p 600 starting at 900 and has been dead wrong on every call milking money out of permabears telling them what they want to hear.
IMO
Buzz
There is the ultimate contrarian indicator. Prechter hasn't been right in 4 years.
Go long.
Buzz
Hey SS,
Yes, I actually found it quite interesting but not sure it applies to me now as primarily daytrading futures. You should attend and hear what they have to say. I know they have them freguently.
Great analysis on swing trading.
Best
Buzz
FB Flop. WHY???....
they don't make iphones or ipads.
Buzz
I had a soda call earlier and went for fanta orange.eom
Haven't seen a pump and dump like icpa in a while, lol. Hope some were in for the ride subpenny.
Buzz
China stocks have been out of favor for a while now, especially the RM stocks, but I think they'll come back at some point, possibly over the summer so I'm accumulating EDS around 2.00 and lower.
Buzz