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I think the "baby delivery" was a jest. But a good jest.
Ergo Sum: Thanks for your post # 54605. It was good.
Frderal Reserve: I like your <The Fed has encouraged everyone to...> post.
Hi Paul A...Nice post. I too try to keep it simple. Give me a chart, three moving averages, volume and I can trade. Others use many indicators and perhaps trade quite successully. But I have my "style" and I'm comfortable with it. Finding the style is pretty important.
Hi Jane...I just learned of Tim's passing. I'm pleased that you saw in him a fine person. For myself I couldn't understand the attacks. He came at me pretty good. It was perplexing and I never understood why. Again, I'm glad to know there was a fine Tim.
Traded XMSR yesterday. This one looks interesting. It's worth a look. I have no position as I'm always in cash by 4:00.
Hi Sherlock...You are a LURKER? I never lined that word,'lurker.' Careful; Lurking leads to stalking and who knows what comes next. Yes, this is a fine thread.
Hi Joe: <Keep on watching Mr. Greenspan's actions> The Fed
chairman is not well liked, especially when he's blamed for credit or the money supply shrinking, or when interest rates are driven up. And especially when he talks about "irrational exuberance" or "bubbles." Nobody really wants the circus to end. Nobody really wants the fantasy to end, the profits to end. Nobody wants to "go home." Nobody wants to see an end to grabbing this or that stock at 3:45...the one that's gonna OPEN the next morning
10 or 15 or 20 points higher. Nobody wants the IPO scam to end.
But Mr. Greenspan's charge (and the charge of any Fed chairman) is not to the market, nor to the market's traders. We tend to view 'Fed-heads' as good or bad if they help or hinder us from making money. When the Fed-head's actions displease us...we can always go short.
Federal Reserves: I still disagree, but your last post tells me that you,(despite our contretemps) are a sharp fellow. You may be right, but one will get you six that you are not. Keep on watching Mr. Greenspan's actions.
Hi Federal Reserves: I get the feeling that Fed chairman Greenspan it not a favorite of yours. Over the years I've observed, studied, listened to and even communicated, (with one) many Fed chairmen. The worst: the august, pipe-smoking Arthur Burns. But you made several claims and they must be addressed. Forgive my paraphrasing of your comments.
1. <He took credit for the market boom in the latter half of the 90's> Well, I never heard AG take credit for the boom. Perhaps I was playing softball or golf at the time. 2. <He did nothing about the bubble> When bubbles occur, when insanity prevails, when the Street gets greedy, extraordinarily greedy, even the gods on Olympus can do little. Yes, margin requirements as you note could have been raised...and this would have stopped the bubble for a day, a week, perhaps a fortnight. 3. <he fostered a credit bubble> You may have a point, but if accurate, AG sure had a lot of help. 4. <we have a service economy> True, but this began decades before AG was appointed to his post.
Mr, Greenspan does not speak in riddles. He is quite precise and understandable; but you gotta listen carefully.
By ratcheting up rates he was telling us that we were in the midst of a troublesome bubble that must end badly, as all bubbles do. By ratcheting them down 11 times to unprecedentedly low rates he did his best to help, knowing, and stating that it was akin to "pushing on a string" and stating that even this might not be effective. I like the fellow. I think he's intellectually honest: and that's what I seek in a Fed chairman. I appreciate your post and the opportunity for a dialogue...Lee
Mainehiker: I haven't been reading your posts, but I shall. Kinda busy trading with three other adept traders at Paltalk (Lee Kramer: Trading Room...(Bus. & Finance). It's an open room and you are most welcome.
<No Treasury, no H economic advisor, no SEC chairman?>
This is not a vacuum, this is a blessing.
Don't worry that Wall St. may lose patience. Just trade the charts. Wall St., read: the wire houses can take care of themselves and will continue to take the customer's money.
Greenspan should go? What would you suggest he do, that he not have to go? I recall how he was oh so loved when the market was running up faster than Jack's Beanstalk. Better that the push and pump analysts go. Better that the (some, many?) wire-houses go.
I offer another view of Mr. Greenspan: He warned of the insanity. Those of us who've seen it before knew well what he spoke of. His "irrational exuberance" comment was right on the money. He ran rates up, then ran 'em down. And very recently in testimony on the Hill he was no Pollyana; he stated the economy was less than healthy. I view the man as intellectually honest, doing what he deems best. Can we ask for more in a Fed Chairman?
Hi Rob. Nice to see you again. The doc, the lovely Miss Tushbumper and Dooodlegrunter, er Dortmunder, my scone-scarfing, tea-sipping trading partner who still sits across from me in his impeccably tailored three-piece Savile Row suits and hollers at me for dumb trading in that clipped British accent can be found most Saturday's on Seattle Bobby's thread on SI. Ah, those were the good old days. Was it but a year ago we were all at Pristine? I shall never forget that clear beautiful early morning of September 11 and the week(s) that followed. I've been trading at Paltalk with three very talented trading friends from our room at Pristine. It's been terrific, (though I'm still in my 10th year of therapy with doc Kronkite) and occasionally have to schedule a nocturnal session when in "crisis" with the typical trader's complaints of itchy scalp, insomnia, locked bowels and of course premature congratulations. Hope you're enjoying and trading well...Lee
Newly: Yes, it was Haley's comet that sealed the Brit's fate. I'm impressed, few people know this.
Rich1: I'm showing the Nq's @ 1081 premarket. Since I'm short the QQQ's I'll pass on the bet.
Augie: I found you. And I wasn't looking
Hi Augie...I think the Far East markets follow what happens here, so I'd not lose much sleep. But if they are down after the day we had yesterday, you may have something there.
Hi Burk: are you still here? I just opened another brokerage account. Need a back-up.
I have a trading room at Paltalk. Me and two pretty good traders. We share ideas. It's intimate and nice. But that's during the day. What am I to do during the night? Woe is me.
Wake up, down some black coffee...and post,you slackers,.
I show up and everyone heads for the exits.
We have 10,000 stocks. We have 10,000 mutual funds. We have 10,000 hedge-funds. Without all these funds, what would we have? Bupkis. And gambling. And gambling we have.
Earnings are nice, but dividends are nicer. Rising earnings without dividends mean little; just the game of "Say,Zeek, earnings are UP so the stock will go up. What say we buy it."
Earnings don't make stocks go up, buyers make 'em go up. So [we] all play the earnings game, the musical chairs game, the upgrade/downgrade/sideways game. Balderdash.
I suggest that you pull up the chart of NETE at the earliest possible moment. Note the 4 1/2 month sideways movement accompanied with very low volume subsequent to the severe two year downtrend. Note the volume over the past three days. NETE will likely pull back shortly. but the stock looks higher.
Sure, the market will likely open higher. Nevertheless I am short the QQQ's...just seeking a short-term trade.
Do you guys never sleep? Never meet the Sandman?
Fred: Your pizza? Look in your mailbox. If it's not there, don't call me. Don't e-mail me. Don't call "Tiny" to whack me.
pantmaker: I sit corrected.
cannibis: The Leading Indicators are not really leading indicators; they're lagging indicators 'cause they come in late and the margin of error is wider than the Grand Canyon. It's not the numbers , it's how the market reacts to the numbers. Watch the 1 minute chart after the #'s are released.
They'll be forgotten in an hour. Trade the charts, long and short. Or go for a walk.
cannibis: I like your moniker. Norman vs. Harold? You like wrestling?
opinion kid: must you display your knowledge? Go, be a teacher, a professor even. Seek tenure.
FinnTroll: Onions you get. Green peppers you get. But that strange beer you do not get.
Newly...very good.
pantmaker: Leif Ericson? Where did you go to high school? Why did you cut history? Leif Erison? Leif played shortstop for the Red Sox. Made 42 errors; could go to his left.
Fred: Miss Tushbumper. Thinking of her gives me premature congratulations.
Norman Bates! For that you get a hard-boiled egg. Former Red Sox manager Kevin Kennedy reminded me of Norman Bates with a dress,
I'm bumping the line to 7 to 5 that we'll see Nq 1050. And I'll give 3 1/2 points. Anyone wanna take the "under?"
Hi Fred: Norman? You mean "Norm" who sits swilling beer at "Cheers? Nope. You lose, coming in third. THIRD! It was the Battle of Hastings. A rather bloody affair. Nice seeing you again Fred.