To restest the bottom? Sadly, I think not. Immediately following the flash crash, my short thesis revolved around the premise of retesting the lows. Well, eventually, we retested them and more. The market loves to test the mettle of investors; this will be no different.
First let me lay out the short term thesis for a bull run.
1. The recent jobs report was better than expected.
2. People will start to believe we are in a “soft patch”, like last year, instead of a prolonged drawdown.
3. Italian and Spanish yields have been dropping, alleviating funding pressures.
4. Short sellers and hedged managers are heavily exposed here, positioned for end of world trade. Well, it isn’t.
5. 14 of the 30 Dow members have FPE’s less than 10. Moreover, using low end estimates in The PPT screener, the average FPE comes in at 13.5x. That’s using LOW END numbers, not mean.
The reasons to sell stocks, include:
1. Asian growth slows.
2. The possibility that Italian and Spanish yields climb again, coupled with inaction on the part of the ECB.
3. US growth continues to slow.
4. Obama’s approval rating improves.
5. Aliens invade America and enslave all traders from the NYSE.
Look, the whole crisis was concocted by insidious bond vigilantes. We were sitting at new highs 3 weeks ago because corporate balance sheets are great, we were in the midst of an ipo boom, and more than 80% of companies were beating analyst estimates. The whole S&P downgrade story is a crock of shit. Our borrowing costs are at record lows. We piss on S&P.
Providing the ECB controls the bond vigilantes in Europe, there is no reason to believe we will not charge higher by another 500 Dow points.
Other risks to the system lie within the performances of large hedge funds. I get the feeling a few of them just blew up and will be forced to liquidate.
We are certainly not out of the hot water yet. We need follow through and fast. Should we drop 200+ tomorrow, that would mean an immediate retesting of the lows. If we keep the squeeze going, we will “V-shape” higher until fall, when I believe brand new issues will confront this market, deriving from the hideous and barbaric continent of Asia (see my 2011 predictions).
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500 dow pts.. aka 10am tomorrow?
within a month
Apple will release a zero emissions plutonium iHoverCar at 7:30 am EST, along with news of a gigantic settlement with VHC
.
Pfizer will announce a cure for cancer at 7:45 am EST
.
At 8 am EST, Johnson & Johnson will release a new lubricant dubbed “warm fusion” which has a perfect and everlasting viscosity
.
At 8:30, General Electric will announce the invention of wireless transmission of electricity, and time travel, and the purchase of Eastman Chemical
.
At 8:45, Rick Santelli will be smacked in the head by a boom mic. It will be loud.
.
At 9:00 am, the exchange will suspend upside circuit breakers
.
For the next 45 minutes CNBC will run panels of conveniently available experts on cancer, energy, time travel, and sex.
.
We will open up 5000 points
.
At 11AM, EST, Barack Obama will swagger over to the camera and read some dope shit about how fly we are
-Sent from my device built by children.
At 11:05 ATPG will announce their third Titan well is on production.
Naaah, who the hell would believe that one?
That company…I mean sooner or later they have to succeed.
Fucking amazing!
How do think up this shit?
LOL
#5 appears to be the best case scenario.
Assuming a $1 pack of gum, you can buy about 5 packs gum from the gold that you shit out after drinking an entire 750 ml of goldschlager.
I predict that will be down to 1 pack of gum within 2 years. In the meantime, you might as well pan for gold…
Invest in gum!
No, the picks & pans to separate the wheat from the chaff
we must return to the scene of the crime. we will see 1100 again…
biggest question for traders right now is “when”
#5 has already happened, obviously.
My mettle is heavy;
http://www.youtube.com/watch?v=L4yHyHdJK5g
Love the markets!
Hey Genuises-
There are two different #5s, depending on whether its time to buy or time to sell!!
The Fed just corralled the herd into equities. Plenty of risks in the system, but it won’t matter. There is no other place to go.
Farmland. That’s the next neutron bomb. American soviet communes need farmland to grow their own food. Sell it to those watermelon fuckers at a premium. And the Club of Budapest can suck the snot out of my ass.
“We support the shift of our economic focus from translational corporate “fusionism” to regional subsistence. Subsistence economy focuses on a “natural” way of living. This is not “back to stone age”. It rather means a spiral, wavelike progress out of the life-destroying habits of today’s so-called civilization and accepting and welcoming the complexity of life.
We support the development of sustainable, decentralized, that is local, high-tech production, combined with local use of local resources. and the redesign of our monetary system according to a fourfold model: 1) economy of gifting (a basic matriarchal feature), 2) counter-trade (barter) economy, 3) complementary local monetary systems for regional trade, and 4) unified currency (for example called “terra”) for interregional and global trade. In our eyes compound interest has to be abolished. Also the concept of “owning” land must be reconsidered.”
http://www.worldshiftnetwork.org/action/subsistence.html
can suck the snot out of my ass.
Disgusting, but creative. This should be used more.
the concept of “owning” land has already been reconsidered and decided…. the public employee pensions own the land
We don’t always have to retest the lows. I knew someone that was so sure we needed to retest the 666 print in March ’09 that he never experienced the ’09 rally. The whole way up called it a farce since it never tested and was forced to eat his peas on the sidelines.
a lot of shorts were azz raped today, thinking both sides are now somewhat battered…I’d guess we work higher pretty rapidly, to low 1200s SPX by Jackson Cornholeo meeting. Then who knows…the Clam will have the power…
Let that be our cry: “S&P – crock of shit, we piss on them!”
The TV told me you are a Nazi albino fag.
more reasons to go up:
1. the ECB does the reasonable and just announces QE infinity for the PIIGS, setting interest rates and simply buying until their targets are met and then leaving it to the market. That should be able to fix everything without ever printing a single new euro or even forcing the central bank to actually buy all that many bonds.
2. the FED decides to loan to states at extremely low rates, alleviating state level budget crisis, causing a muni rally like nobodies business, saving state level jobs (good for now, even if you hate big gov’t, which I do too, but NOT NOW, lets not fire these people NOW, for the love of urine)
3. we are still mega oversold
4. S&P gets reminded that the US literally, and literally literally, cannot default, and is forced to say “i’m an asshat” 500 times a day, in public
more reasons to go down:
1. politicians are asshats
2. stocks were too high at 1370 realistically, for the macro environment, and while 1 and 2 above could change everything for free (actually for a government profit), the political will to do something intelligent just isn’t there right now
3. the republicans want everybody suffering for the 2012 elections and control the house (I am not a liberal or a democrat, but lets call a spade a spade, the repubs are willing to put your neighbors on the street, homeless, pimping themselves to old men for the white house. theirs is the worst piece of political action ever, I am quite sure they know what they are doing)
Truly the world sits in a situation it could endure very easily. Truly the world shows few signs, ASIDE FROM BERNANKE, who, ironically, is the one person the whole world hates, of doing anything productive. We do have that going for us, the head of the federal reserve truly wants to fix things. If only he had the tools he needed…
Biggest lie of the night?
” I am not a liberal or a Democrat.
“Anarcho-socialist,” mayhaps?
________________
I wouldn’t gamble up or down tomorrow any more than I would Moneypussy gives James Bond head in the next movie.
Thought of you when I saw this Fly. Enjoy. http://www.youtube.com/watch?v=Tjvlrf0OM3M&feature=youtube_gdata_player
Bernanke made sure that Grandma can’t make money in CD’s, bonds, money market or savings account. He would rather have her in DELL, INTC, CSCO, and MSFT…
Maybe we get stuck in a range beneath the highs but I doubt it. Easiest trade was / is to short volatility.
see my comments in the news section. that PROBABLY will work for everybody, BUT VXX (your best avenue for shorting volatility) is in steep backwardation, which is not beneficial to short sellers…
I prefer to accumulate my short volatility position when it’s in backwardation.
i thin we will both win… mean regression is a powerful thing, but don’t be reckless…
It’s all about the duration of the trade. I’m not a day trader and have no clue how day traders make money consistently.
I like to leg into a position and sometimes trade around a core.
I have a long term income portfolio and position trade on the periphery in etfs, options, and futures.
A reason why this market goes higher from here ::
Sure we’ll kind a volatile range of oscillations to & fro. But we stair step up from here for a couple important reasons
1) The International Markets abroad, as illustrated today, have taken a STAND to buy this Market to say ENOUGH IS ENOUGH. This posturing is fundamental to the health of international markets both fundamentally (lesser argument) and Technically (stronger of the 2). WE CAN’T HAVE THESE MARKETS TANK ANYMORE as investor confidence just gets deteriorated hard after elastic trauma like this. We experienced it in 2000 & in 2008. If you kill this market & liquidate it to hell then you’ll destroy the retail investor. Believe me, Global Markets aren’t going to like that.
2) If they wanted to liquidate (as surely they’ve been doing this past 2 weeks), they’ll do it @ higher prices. So they’re letting the run continue and they’ll posture aggressive buying pressure for the overall technical health of the market.
3) Global growth showing signs of slowing ? sure but you still can’t deny that American Companie’s balance sheets are more flush with cash & earnings than ever before.
4) As I write this:
Hang Seng+3.70%
Shanghai Composite+2.06%
Nikkei+1.15%
Global markets are taking a stand and BUYING THIS MARKET. Capitulation has set in. We go higher. I’m not arguing that won’t retest the lows. We of course could.
Was the thesis of your Article @The_Real_Fly in saying that we will, or will not, retest the low? Your intro confused me when you said:
“To restest the bottom? Sadly, I think not. ” but then said @ the bottom of that paragraph that “The Market loves to test the mettles of investors; this will be no different”
Either way, great article. Thank you for your Contribution to the Community.
::Mike
http://www.twitter.com/trendlinekid
I wish I could agree but I can’t. The foreign markets follow step in exactly how things pan out over here. They are buying just because there was a positive surge in US markets today. And I am not all too convinced that this surge signaled a ‘bottom’ just yet.
If we end up down tomorrow, global markets will follow in step once again. Plus this is not just a growth crisis, but a debt crisis of unprecedented proportions. A lot more thinking goes into the markets other than how much cash Apple has on its balance sheet.
I respect the optimism, but I still think knives will be falling a plenty in markets in the near future. Being nimble with equities (quick in and out) and staying long GLD has been the name of my game and I’m sticking to it as long as this whipsaw action continues.
You usually save the good stuff like this for the PPT blog
/harumph!
With regards to ‘Sell’ Item #2.
http://blogs.forbes.com/timworstall/2011/08/08/the-euro-solving-the-crisis/
Right now the ECB can buy bonds as part of a temporarily as part of its market settling activities, however, they aren’t supposed to monetize debt…..at least not yet..and there has been some question if they even have enough cash to buy the amounts that would be needed.
Its rally mode for now…but can we recover the 200d?
yep. concurrence
Best debt video I have seen…worth sharing http://www.youtube.com/watch?v=Jjv-MtGpj2U&feature=youtube_gdata_player
The fed just guarenteed near zero returns for bonds for the next 2 years
That’s by far the best argument I’ve seen to go long
Did you really think rates were going up?
No, but they spelled it out explicitly this time
Want a good laugh?
Read the descriptions of our iBC gear
http://merchandise.ibankcoin.com/magento/index.php/status-symbols.html
Guerilla marketing?
nah, we make no money off it.
No money off of it? I never thought Messieur Fly would abandon a Capitalist model for a Govt run model! Maybe the site’s name is false advertising and should be instead named, IBankNoCoin! This might be what the Mayans were trying to tell us this whole time!
Is there lead based paint in the coffee mugs?
No, but the coffee mugs are made of painted lead.
______________
Excellent, so when the second US Civil War comes I can melt it down and make mini balls for my carbine. Like my great grand father did when he volunteered for service in Brooklyn in 1861.
David Tepper loves refiners (even more than fly)
http://seekingalpha.com/article/285877-top-buys-of-david-tepper-s-appaloosa-management?source=yahoo
“The fed just guarenteed near zero returns for bonds for the next 2 years. That’s by far the best argument I’ve seen to go long”
That’s called being led to slaughter.
The “10-1 earnings ratio is cheap” arguement is based on economic forecasts that are based on 3-4% growth.
I have yet to hear what the earnings ratios are if we slip into a recession. This arguement is almost as funny as “Stocks yield 4% versus 0% on treasuries” argument.
Both arguements are nonsense because margin compressions will kill earnings. Just look at the dollar since the Fed’s announcement.
You can pretty much guarantee the dollar pressures are here to stay for 2 years after the Fed’s statement.
There is no free lunch people.
Fly, In your Bull case I feel you should have mentioned that the markets are already pricing in a US recession at yesterdays prices.
Don’t be so nervous !
Corporations are still raking in the dough, I see Devildo losing so much $$ he’ll be starring as Robert Downey Jr’s character in his very own version of Less Than Zero – specifically the part where his friend Clay walks in on him in James Spaders back room on his knees… uggg
Devildog
the market is not pricing in recession. We’d go to 9,500 or lower in recession
I don’t think we’ll be safe from any bear markets whatsoever unless you continue to head every blog post with “Chuck Bennet’s Bottom.”
For as the scripture sayeth:
It is only via Chuck’s ass that we shalt be saved.
_____________________
Feel free to use sub-heads as needed.
________________
Incidentally, I actually sold “nossing” today, but that doesn’t mean I don’t have some suggestions on purchasing tomorrow!
_____________________
MOTR sucking mammoth cock after hours!
I love it when people call me a bond vigilante.
That end of the day rally imho was just someone getting the China Trade Data before it was released and hearing about how the PBOC won’t be raising rates. Notice how the AUD/USD went apeshit into the close with all the global growth names….YET when the data was OFFICIALLY released the AUD/USD became weaker. All stupid. Right this second Bloomberg is reporting the SNB is stepping in to intervene…imho not the bottom at all and that AUD/USD should be heading down soon and bye bye to our rally. I still have that Spine.
Lol. What more do you want? You got your crash.
Nymph, take your cash and move on to the next trade. You won.
lol…see…told you that was all stupid. And Kass out calling a bottom is soooo stupid too. Yogi, Got my Spine…Me and my little US Dollar is going to ride this thing down, and as I learned from QE2, that ride is sooooo long.
Fly…I want an even bigger crash…with fireworks and balloon animals.
and US Dollar over 76.00
You mean a Euro crash then?
Three scenarios regarding Bottom Testing
1) It is in and we have begun the counter wave to about 1249-1256 (Best Case)
2) We finish wave iv around 1180-1187 then complete the downtrend in wave v just below today’s low around 1090 and then begin the counter rally to the 1250 area (Worse Case)
3) Upon completion of wave iv around 1187 we complete the downtrend for this leg with a sideways or flat wave v pattern that runs horizontal to the low established today staying above or dipping slightly below the current low before breaking out in a counter rally to the 1250 area (Neutral Case)
>>We were sitting at new highs 3 weeks ago because corporate balance sheets are great, we were in the midst of an ipo boom, and more than 80% of companies were beating analyst estimates. <<
You do know that your "more than 80% figure" is now somewhere in the 60s and guidance is considerably more tepid, right?
i see the dow futures, and theres lower openings in it, gold is being stubborn,
fly, chess, what do u think of gun stocks,swhc? i would think they would have done better.
Message to Dr. Fly and others who hold their WNR:
Western Refining, Inc. (NYSE: WNR) Raised to Outperform as Bull of the Day at Zacks.
More like bull shit of the day.
Maybe.
Maybe not.
Only the messenger.
The last oi lrelated company I bought was Triton Energy (OIL) in like 1999.
French banks in deep trouble per sources.
Looks like another meltdown.
Confidence is going to be destroyed ig we roll over today.
That was not even close to the bottom Fly. When are you going to learn? Yesterday was a near perfect .382 fib bounce. Only off by 19 cents. And yes I covered and went long…sold at the close and re-shorted. Thank you for the stupid bullshitter bernanke bucks. Prepare for bullshitter death. We’re going DOWN…WAY WAY DOWN!!!
OMG, Devil you use Fibo too…do you use the minor ones too??? Most totally ignore the minor ones and it drives me crazy.
Wonder how many of you that bought the close last night are like Bambi right now……..fucking deer in the headlights! If you truly believe- buy some more. The market is like a heroin junkie going through detox right now. Just wait till it settles for more direction.
i thought i would just jump in scalp, get out. so i am the one getting scalped today, but still 56% cash, i an an idiot
got caught with my france down
don’t forget that on the bearish side the 10P/E is still historically high and the P/E excluding large cap companies is unspectacular.
Fly a hint for you. Take off your rose colored glasses viewing of America.
1. America is responsible for the problems around the world. If America leads the world as I’m sure you would agree then America is where the buck stops. Excuse the world’s reserve currency pun.
2. America (NYC SCUMBAGS) sold fraudulent and worthless MBS, CDS, CDO around the world and thought it was funny. They then got SCUMBAG paulson to bail them out with taxpayer (middle class people) money. This will cause a violent socioeconomic revolution in which lloyd and jamie will be executed even though they do God’s work.
3. America has had negative GDP growth for the past 30 years if you deduct the ponzi debt bubble created by the NYC SCUMBAGS and allowed by our paid off, corrupt and traitorous government.
4. America is doomed until the VIOLENT REVOLUTION rids us off all the SCUMBAGS mentioned above.
5. Let’s get the blood in the streets going and bring America back to greatness without the SCUMBAGS above.
so what r u trying to say?
What he’s trying to say is that he lost his dad’s life savings on betting faz in 09 and is pretty upset at Fly for some unknown reason.
Points 1, 2, 3 may be right on but there won’t be any revolutions. The ruling elite (NYC Scumbags to you) will just tighten the screws on the working class. People are still doing well enough to not want to destroy what they have for an uncertain future. Things will have to get much much worse begore that happens.
The GREATEST GREAT GLOBAL DEPRESSION in human history will ensure that it happens.
How do you think the record 48.5M food stampers feel now?
How do the think the 20%+ real unemployed feel now?
How do you think the record number living below the poverty rate feel now?
How do you think those at the wrong end of the greatest in world history income disparity stick feel now?
No problem…the VIOLENT REVOLUTION is coming soon. IBANKBLOOD.
How do you think your dad feels now.. that you lost his life savings playing FAZ and abusing people over the web.
I think they feel great. They are getting a free ride without doing a thing
You forgot your conspiracy theories! The CFR owns the world and the puppets will be replaced by new ones as the “men behind the curtain” create the change into socialism that the international bankers love (because the state owns the people and the banks control the state!)….
In other words, you will crucify the wrong people and find you still need to borrow more money and make sure you try to nswer the all important question “who’s your daddy” and “where’s his money”!
Get your frickin tin foil hats on folks, this here is real!
correction, the CFR is a public forum designed as a recruiting ground along with other groups like bilderberg group, trilateral commission and stuff that are recruiting grounds for initiates. These initiates eat french toast and do ritualistic jumping jacks while using psychic energy to eat the brains and drink the juices, they clearly have gotten to you because you seem so mad. Your medulla Oblangotta is as messed up as the water boys and I don’t mean the man who is a tv character but instead the symbolic reference of that character to the idiot savant known as rainman who’s always calling off numbers, hence the 666 and 6.66% signals to the occultist that it is time to feast on some brain foods!
I know I sound crazy, but I figure with you ranting and raving about how your FAZ is going to make back everything you lost, people might finally see me as credible by comparison!
Remmeber, I escaped from a mental institution 3 times and they keep coming back because I know things!!!!
Have you ever lived during revolutions or any other calamities in your country? I don’t think so. Shut the fuck up. You have no clue what it means. Enjoy your “negative GDP growth for the past 30 years”, it’s way better than any other alternative at hand. You lost your middle-class money due to some scumbags? Well, guess what, it’s been the same FOR AGES! What a big fucking surprise! Use your head and make own investments. The Fly gives you these resources so you at least have a chance against the big guys. You should thank him and this community for generosity in sharing information and ideas with you and the rest of us. Instead you prefer to be so bitter.
Raid the gated communities, burn down the mansions, and lynch the CEO / banker owners.
The bloodsucking top 1% suck $1.8 trillion out of our economy YEARLY. For not doing
a fuckin’ useful thing. Let ’em go to work cleaning toilets, at minimum wage.
I hope you win the lottery Riggy.
Snoop, you should roll as the Trading Pymph !
http://youtu.be/USKaDV4yZcw
Lloyd and Jamie are scumbags doing God’s work? Yeah, that makes about as much sense as the rest of what you are spouting. If America is responsible for what’s wrong in the world it is also responsible for what is right in the world.
Darlings
Sell the rallies.
VXX and TZA calls on any rallies.
Bought 30K shares of DZZ @ 4.68.
DZZ?
Nothing about stocks?
Dev
Everyone has a gold position. that’s nothing. i hope it isn’t dads money.
Here I will paper trade you. I bought 30K at 4.71
Looks like more ammo for you to get mad and blame the “scumbags” when we transfer to an independent gold standard as an alternative world currency in addition to the US dollar, making gold money internationally while the world floods out of the bond market in favor of the gold market.
and of the into stock market as well.
I have SMH @ 28.22.
Added AMAT 11.29.
Stopped out AMAT @11.21.
But got more SMH @ 28.14.
I am ready to make some $$ from Mr. Market.
And LRCX 36.19.
Why don’t you use SOXS and SOXL?????
The spreads suck.
But primarily those 3X are nothing but gambling imo (unless you are an MIT grad with a computer tied into the server at the NYSE) and I know SMH inside and out having traded it for years.
Wall Street is a casino – what else? You are a gambler – don’t kid yourself. If you daytrade in the semi sector, research the charts, SOXL and SOXS may be tracking your stock picks.
I need meds
side effects included, some assembly of your brain afterwards required
Soc Gen in France is down around 15% because of Italian exposure. If France begins to wobble this is really fucking serious.
Meanwhile the ECB buy 30 million Italian bonds while Europe burns. lol
No kiiding if France wobbles this will really fuck up.
The thing that gets men is how Germany is coming out of this smelling all roses when their fucking debt to GDP is 85%. 🙂
The entire shithole should implode.
New name for PIIGS is Europe
People in Germany work their asses off.
Well actually they don’t. Americans do. Germans aren’t lazy but their hardly the hardest workers in the world.
One other thing, the rest of the place implodes who are the going to export to? And if their exports slow down as they will how are they going to repay 85% debt to GDP?
In a relative sense to the PIIGS, Germans work their asses off. In 19th century America, people really worked their asses off. There was a strong work ethic in the US. Nowdays, unemployment pays too good. (for some)
Dude
It’s a welfare state shithole like the rest of them. Don’t be deluded they are any better than the rest of them on overage. Sure they’re harder working than the lazy Greeks, but no by much.
Everyone is focused on Greeks who work for the government under cushy terms. Private sector Greeks work more than just about everywhere (South Koreans work more).
as I was saying..the new normal
ok whats the ticker for xanax?
Ticker is CIALIS
veee vaaaaaaaaa viagra, i took one once it got stuck in my throat, i had i stiff neck for more than 4 hrs
ME!!
I can’t believe the ECB isn’t even contemplating QEing. I bet the CB wants to do it and those lunatic Germans are telling them not to.
So much for the Bennett bottom.
Brosef, we’re right back at the Bennett bottom. So long as it isn’t breached, it will be the foundation for a MELT UP OF EPIC PROPORTIONS higher.
Hi, I am a schizophrenic, and so am I. I went to the psychiatrist wearing nothing but glad-wrapped shorts claiming “the aliens are coming to harvest our brain he said “well I can see your nuts’ I said, I’m not crazy, it’s true!
He said “Well I agree about the aliens, but put on some pants, I can see your nuts!
He then said “Well I’ll just need your information, identification, and proof of insurance and copayment and we can get started”
I said “you caught me with my pants down, I don’t have any of that!”
He said “well that’s okay, I can already see you’re nuts”
What, how can you tell I’m crazy already, is it that obvious? He said, no I can see your nuts, I caught you with your pants down!!!
the good thing about being schizo, is ur never alone,
the bad news is you can become your own worst enemy! ha ha!
ok so raise taxes on the rich, we dont have enough rich people to pay this down in any acceptable rate, so conclusion, we have too many poor people…
Tax the livin’ shit out of ’em. Tax every fuckin’ penny of their income above $250K at 110%.
And I mean ALL income – interest, dividends, cap gains, munis. With ZERO fuckin’ deductions.
you r right, oh wait so whats the incentive for them to work hard, create jobs, and in general suport the world.
a) make $250K per year- all any SANE man needs
b) put all the USA middle class to work at a FAIR wage.
BTW: The Top 1% are job DESTROYERS, not job creators.
that doesnt work, because we would have a welfair state, when america (as we know it) first started, the few colonist were in kinda commune , examp: 10 people putting in 10 people taking out, then 7 putting in 10 people taking out, then 5,4,2, see what im saying, its acually when capitalism started here, they almost starved to death before changing, u can only take if u give,there r many books on this, socialism allways fails, i see what u think and it would b wonderful if we could work that way, but reality doesnt show it will work. the recient problems we have had is because of to many wanting something for nothing.
Why a “welfare state”? Anybody collecting ANY government benefit would be required to WORK five hours a day. Gratis. No workee – no checkee.
This excludes SS retirees who paid MORE into the system than it is paying out.
You do know that in socialism, the banks control the state and it’s the large corperations that are the ones that run things anyways, right? If not do some research. Start with Antony Sutten
you sir, are a blithering idiot.
For my story of my first escape
http://www.ibankcoin.com/peanut_gallery/index.php/2009/06/26/i-have-escaped-from-the-asylum/
It’s funny cuz it’s true!
Of course Obama – just like Bush the Moron – is a brain-controlled puppet of the elite.
Look at his decisions and non-decisions. He certainly is no Democrat.
i agree, the last 10 yrs, fail.
Liking chip makers NVLS,AMAT,LRCX.
Will be good long day trades (with stops, etc.).
“SocGen’s exposure to Greece is 3.3 Billion Euros as opposed to PNB Paribras of $24 Billion euros….
Rating agencies upholding France’s AAA status”
If France goes, they’re fucking history.
They now have to cut their deficit from 7.7 to 3% if GDp in a year. This is happening while the ECB raised rates on 2 months ago and can’t/won’t QE which means there is no monetary relief from the austerity in any if these junk holes.
I reckon the Euro now makes its way to around 1.30ish if there is no ECB relief.
how does france still have a aaa rating? we must be more fucked than france, dont get caught w/ ur france down.
Because France is cool! US blows.
Razor
Good question.
France will get downgraded by SnP too.
This is basically a repudiation of the welfare state funded with debt. If you fund the welfare state with taxes it doesn’t fucking work because no one wants to pay those taxes.
Perhaps welfare should be like student loans. If you take assistance, or unemployment or food stamps, it becomes a personal debt. At least the 40% that is funded by debt. Then, when it’s apparent there is no way you can repay, you go banko and the debt is wiped out.
FYI: student loans are never included in bankruptcy.
: a blond girl in a row boat, in the middle of a corn field, rowing her ass off. another blond girl pulls up, and states: its blonds like u that gives blonds like me a bad image, and if i could swim id come out there and kick ur ass
I have waited a long time to get into symbol hot. If it touches 40 to 41 I am going to buy some, the growth potential is very good for this stock. Maybe wait..38-39 sounds better.
This shit is honestly starting to give me agita
at least u b getin somting
This is 2008 all over again. Greece, Spain, Italy now France = Fannie, Freddie, Lehman, AIG. The bottom is not even close. We will see sub 10,000 on Dow by next week write that down !
“I got a purdy mouth” -CAP to the mirror
I tried to tell you.
It seems Obozo is so incompetent he cannot even get the PPT (not Ibankcoin PPT) restarted.
SP 666 here we come
Melissa Francis is brain dead.
it was nice of the mkt to pop yesterday , kinda came back and fuck the rest of the people who got left out.
Here’s something for you all.
http://www.nbclosangeles.com/news/weird/Stock-Broker-Leaps-to-Death-Amid-Market-Plunge-127451503.html
that is truely sad,
Why are they interviewing Richard Gere on CNBC?
Is he the new spokesperson for JPM?
So now the market’s fate is in the hands of the French holding firm, with trouble at their doorstep, and not throwing up their hands in surrender….
I wonder if history would give us a clue to this outcome, if the French can make the hard decisions????
Wonder if the next is Germany? Feel bond guy push their luck too far so the Germany has to make a stopall decision. Maybe this the grand conspiracy to maintain US reserve currency status.
I’ve had similar thoughts…dollar rips higher as do US bank stocks…Jamie Dimon is appointed Chancellor of Euro-wasteland.
We LBO the whole friggin place…
I’m thinking about claiming this here blog as my own personal property, now that is is desolate and abandoned.
It is the law of adverse possession.
Quick..
Sell it to Marketwatch before Fly gets out of bed.
Do a reverse merger with Slope of Hope. The Fly wakes up with TK running shit around here.
That 10 year treasury yield spike downward is bullish – doesn’t mean the DOW can’t go down another 500-1000 points, but I just nibbled some buys.
The Chuck Bennett BottomThe Chuck Bennett Tophey im up for the day, howd that happen…lol
gdx…thats how
Couple of questions;
1. Why does the Trading Nymph post?
2. Is that the real DEVIL DOG?
4. Is Jake Gint actually Rand Paul?
thanks in advance
Just wanna remark on couple of general items, The website style is perfect, the subject matter is rattling very good
Its better should you think about what other people may need to say instead of just going for a gut reaction to the topic. Consider adjusting your personal believed process and giving other people who could read this the benefit of the doubt.
Wow! This blog looks exactly like my old one! It’s on a completely different topic but it has pretty much the same page layout and design. Outstanding choice of colors!