Grantham letter

Well lets look at an excerpt from Jeremey Grantham of GMO’s latest letter..

This would be one thing if corporations really were “democratic associations” of humans that the Founding Fathers may have wanted to protect. They are, instead, small oligarchies of top management. Thus, the top management of major oil and coal companies can decide what political outcomes they want to promote,

say, unlimited production of carbon dioxide (none of theirCEOs apparently has grandchildren!), utterly without any approval of their decisions by the millions of actual owners. The fi nancial power of corporations was alreadyin danger of overwhelming the democratic process inCongress and this makes the damage potentially unlimitedand puts the Court’s seal of approval on it. So let’s do it instyle and have a name change. The U.C.A. has a familiarlook: The United Corporations of America!

This is the letter where he goes off on the Supreme Court.

WHAT A STUPID DECISION, Scalia must be suffering dementia by now, he was never all that stable. AND THE REST OF THOSE FUCKING MORONS!I'm dying to know when the court is going to uphold the right of a Corporation to practice Freedom of Religon, or the Right to vote.

But I'm sure it will be freedom of religion, only if it's Christian.

FUCKING MORONS!

Review

It seems like I owe everyone a pre market review, all the idiots are looking at the 1085 level. If you look at it, which I havn't(I mean this) but the resistance is a series of swing lows, so it could be like taking the Stairs, one level after another.

I don't know where that ultimate level is, where we would catch the elevator.

"They" will be talking about and anticipating Mutual fund monday, or Manic Monday as I like to call it. That MEME should fail at one point. Like monday. The safe trade is to wait and assume a strong open on monday, and fade it.

Other than that You are on your own.

With Howard Zinn, and now the passing of J.D. Salinger ... It's that time of year where the darkeness and sedentary winter, takes it's physical toll.

I'm sitting here listening to a discussion of Salinger, they suggest that kids these days don't get Catcher in the Rye, they think Holden is an entitled elitist who gets booted out of several prep schools for being a snob.

This killed me.

"The Wrestler parody"

The Uncler w/ Uncle Sam and Alyssa Milano from Alyssa Milano

More thoughts

What I'm trying to say, my problem is that I think that instead of making a change in tactics or Message, what seems to be happening, is that they think "If only we say our message LOUDER".

morning read

Well, I'd say all the Turds that decided to "Sell the State of the union" get to cover.

Here is what I have to say about the State of the union.

If we were playing Twenty One, Seems like we just doubled down on a 13.

There was nothing new, and trying to be objective:

• Spending Freeze
• Job program(we knew about this)
• Not backing down on anything

The real questions are:

How much compromise are they willing to do, and how much will congress be able to push through.

This just feels like denial. It has to be clear to all the democrats that if you can't push health care in Massachusetts, you are fucked.

You can improve this to half, you are still talking about losing HALF the Congressional Seats.

There is no cover for sitting Congressman, no Obama shirt Tails to hide under. They will all be trying to find Populist cover, by tossing Geitner or Uncle Ben. Or for pushing a balanced budget. Of course they will cut Services, NOT corporate Welfare.

The Natural thing for all the Lizard brains is to push this thing into the DeathSpiral.

TeaBuggery

It looked they were selling it because of geitner, and pulled a weak hand. Then of course, we have been tracking the "Fade the first move of the Fed decision." over the past months, problem is... I can't quite figure out which way it went right off the decision.

This AApl thing reminds me of this Will Farrel piece

OMG...... THIS TABLET WILL CHANGE YOUR LIFE!!!!!!! IF IT WAS A WOMAN I'D FUCK IT!!!!!!!!!! SANTA!!!!!!!!!!!!!!!!!!! SANTA!!!!!!!!!!!

I'D suspect that it umn... will end bad ...

I love the slingshot MEME!

hmmm

I'm not sure that looks all that positive...

Que the "Geitner... Pauson... President state of the union MEME"

Precter says Dow 4000 imminent

Of course that was October 17 2002

The stock market's sharp swings this summer and autumn have discouraged investors. "High volatility is completely normal in a bear market," Prechter told me Thursday. (See the Elliott Wave charts below. )

The 30-stock Dow Jones Industrial Average will lose half its value in the next six months to about 4,000 on the blue-chip index, says Prechter. When it's all over several years from now, the Dow will trade below 1,000, Prechter says.

Prechter, in an earlier interview, said the decline that began in January 2000 will play out for several years. "What's going to happen when the stock market finally bottoms? You'll be able to go in there and buy stocks that used to trade at $85 a share for maybe half a dollar or a quarter of a dollar

tomorrow...

the game will be played again tomorrow.

Funny or die

These were hilarious, if you haven't seen them

"I'm F*$cking Matt Damon!" by Sarah Silverman from Sarah Silverman

and then this.

"I'm F*$king Ben Affleck" by Jimmy Kimmel - watch more funny videos

Getting lazy

... I have to keep everyone updated, or you won't read my blog.

So much for Asides:

Speaking of which...

But back to our program.

It seemed like we wanted to have our little bounce on Manic Monday, all the bottom callers came out. This morning the futures are down as much as the market made headway on monday.

The buyers are going to have to step up this morning....

and we shall see. I guess as tony suggested the easy money is made, I'm not saying there isn't much more downside, but now it's hard. ... or Harder. We just need to find that point where everyone sells it.

Strange Interlude Indeed.

Biography

When my biography is Never written, it will be entitled "I made fun of so many, and none of them appreciated it."

I managed to get Doug Kass to block me on twitter, apparently he stays up late reading his mentions, and bitterly blocking anyone who says anything negative.

*grumble Grumble* FUCK YOU ASSHOLE!, I'll show you, you won't get my constant rain dance feed!!! Yes, when I'm wrong I say it.... Just not out loud." *Block* Block*

Of course I'm the one who is always wondering why he would let that nasty bitch Melissa Lee, Treat him like he is some kind of low level dirt bag. All in her Haze of anti-depressants, from the Hair lip Surgery.

Have some Self Esteem Doug, just accept the fact that all the dickhead Italian wanabee pornstar traders, will always hate your Jew ass, just be thankful you aren't a woman!

No worries Doug, your approval seeking will pay off some time... at one point you will be accepted as one of the gang! and not the sad 4 eyed weakling that the big kids used to make eat mud.

(see the racism is a joke, and yet very true. Wall street is still stuck in the 40's), Don't worry no less than 20 years ago, they moved on from the 1930's. So progress is progress.

See why I'm so popular.

Litttle boy Joey, with his Jet Poster above his bed.

All the traders, excited about their Jets, all the years of wanderlust dreaming with their little Pennant above their bed, with the Star Wars sheets.

awwww... disappointed.... maybe next year...*sob sob in their Coco Pebbles"

Ok, Enough teasing the traders.

All the market pro's are on the "Crash" again... I would feel better to see a nice slow market slide, but it's not up to me. Mamis and Doug kass are buying gold... because it may have value... or not.. Ugh... I'll try and resist the Siren Call.

but it creeps me out when I hear the MEME... Personally I am just trying to keep it together.

They should try and "buy it with both hands"... I'll be curious how it will work out for them.

this was good

Visit msnbc.com for breaking news, world news, and news about the economy

The band

Look how far the vix is out of it's BB

Everybody is short

My VERY QUICK.. sentiment read... YEP I had to do it... Had to watch CNBC, BULLSHIT. It seems to me like everyone is short.

Sure this is me raindancing from saying we would bounce on between yesterday and monday.

and Maybe what the market needs will be a VERY SHITTY OPEN ON Monday. Then we can get a little bounce.

but the traders I'm hearing are all very short.

Was it only yesterday...

It just seems like Yesterday, that the Vix was at 17.... oh... it was tuesday.

Note to talking heads, you don't get to giggle or laugh when talking about panic, and say that it's going on.

Fairly aggressive, seems like the market is no bid.

There should be money coming in on monday..

Sorry

and none of this is going to be helpful, My internet connection didn't come up this morning, until about 7am, then I was running behind.

I figured this morning many people would get sucked into selling this morning, then we would get again "some kind of Pre Manic Monday/Mutual Fund Monday Bounce"

This may have been the proper video

At the 7:40 mark Stuart does a Cramer take down. I'm not sure if I got the right video this morning.

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