is when traders seem to think that economics are some kind of capitalistic Free for all.
That is what scares me about the market. that if that is the basis for our economy "capitalistic Free for all"... what does that douch Friedman say "no such thing as a free lunch"..
there are consequences for a free for all... and that is a scary notion. no such thing as a free lunch, no such thing as a free market..... Put that in your philosophical hat... or does free have different meanings in Milton friedman world
Friday, February 20, 2009
want to know what scares me
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Ah... Dick "Buy Citi at 20" Bove.
Why is this guy still in the CNBC Rolodex?
Where is he calling from, the Howard Johnson in Camden?
the presidents press secretary just went after santelli
OK, here's my predictions:
1. We get Osama bin Laden this weekend.
2. They find the $50 billion Madoff and Stanford have stashed away.
3. MSFT buys BAC for cash and stock.
4. Market rallies to 12,000 by next Thursday.
Therefore I just put everything I have in BGU!!!!
Holy crap! I was just kidding... I bought some WFC at 9.50 as a goof just to see if it would go to zero this weekend.
What the heck happened?
I told you it's cause obama is going after this free market Hokum
if the market can clear 775 again... we are in business.
hope you are hanging on. feels like a rocket ship.
alright.... I feel like TK for saying that.
I got out up a buck. I'll take it. I let MS ride over the weekend. If they find bin Laden I'll be all set. (But then my gold and silver will tank.)
You're going to be drinking scotch at 70 telling your grandkids "I purchased WFC at 9.50...
And you will choke back the lie that you sold it up a buck...
*gulp*
Yeah, but I'll also tell 'em I bought GLD at 72
Gold ends in Tears!!!
Listen to T-LO.
hope she gets you out right, and that you hear it.
didn't she tell you to only buy it if you put it in the bunker.
Yeah, but I'll be okay... I have my sell stop set at 76 so I'm guaranteed a profit (LOL).
It was sobering to hear her talk about the mining companies all being run by corrupt drunkards and never finding any gold. I have a lot of mining companies in my 401(k) because GLD isn't offered... I may have to take some of those profits off the table and add to a an S&P fund.
Treasuries seem a little overbought here, too.
You know that Dick Bove made a great call on banks in 2000.
he was the "meridith whitney of the time."
now he is just an old drunk..trying to relive the last cycle. I saw him putting targets on stocks with todays price on them.
Holy stupid!!
they haven't found a new mine in like 20 years... and if they found one, it would mean the price would plummet from the new supply
we could still wash out on monday, but I like that its not like the cat is out of the bag... and I'd keep trying to buy down legs..
So we had Garzarelli in 87, Abby Joseph Cohen in the 90's, Bove in 2000, the "Art Hogan bottom"** in 2008 and now Meredith Whitney in 2008-9. They each have one good call and try to make a career out of it... and never repeat again.
**I think Dylan just likes to say "Art Hogan bottom" as part of some homoerotic fantasy.
I ...
Not that it means I shouldn't make fun of his obsession with "transparancy" That we will NEVER FUCKING SEE EVER!. It's like wanting to play the shell game and wanting to have see through shells.
But..not to disparage him, but I think there is a high probability dylan is actually gay.
I had this huge rant I plugged somebody with on a blog. about the santelli thing. I'm on this huge bile about it....
Not healthy...
I guess.... that is the emotion... have to realize and accept it.
Why so emotional about Santelli? he's right in an Ayn Rand or Thomas Hobbes world, but like Obama said, if your in favor of doing nothing,,, well, that's not an option.
Even Santelli backed off the extreme stance and seemed to settle a bit on the meme. He knew he went overboard.
BTW, I like your charts on lower volume, EWT and MACD divergence. I was just looking at WFC vs. BBT and will post some charts myself this weekend. Thanks.
Emotions close to the skin..
Philosophically I just see that attitude that got us here, it's the Ayn Rand stuff that the Mortgage guys were reading, and Greenspan. It's like a Rorschach for selfishness.
That and Long into "The collapse of Eastern Europe. Nationalization of every bank in America"... Pick your meme. LOL.
Also TOO MANY PEOPLE Calling Bounce. Freaks me out...
I was looking at some stuff from the November bottom from Barry. That was FUNNY!!!!! he totally missed it.
If only we could find Osama.
BBT seems like a good bank, and they are the new breed of "investment bank/deposit bank"
I was pointing to those charts a few days ago, when I saw a chart about "How bad stuff was, on Fast money.".. I looked at the Weekly/monthly and was like "DAMN That is bullish"
It could be cleaner, or better divergences, Better Bull flags. The daily is clear as day for the past weeks and a Flag. I wonder if I could run some 10 day and 15 and mabye 7 day charts.
I'd like to see See more MACD divergences. I like to see at least 3 clear MACD Divergences before I can sleep better.
The news is so confused and the blogs... "It's all like 'are we nationalizing or not'" it could be a great place for Roubini to finally jump the shark, since Meridith finally did.
You have no idea the un-dharma like things I've been up to for the past 24 hours.
LOL... I just wrote the most hateful thing at clusterstock. I wrote a letter to the editor to my local paper... LOL
I should go to a movie instead.
We need to look at some of the other Divergences in the charts...
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