Patiently Waiting for Action
I’m moving on up, you jive turkey mother llamas.
My NAK is on the move higher. Frankly, I am encouraged by that Romney video, where he actually speaks candidly about the welfare state we live in and how Obama panders to them. If he is going to win, he needs to be bold, create excitement through plain speaking, not political talking points. If Romney goes up in the polls, it will be viewed positively for NAK, given the outside chance that a Romney victory will mean an easier EPA. With an easier EPA, NAK might be able to mine the 3rd largest copper mine in the world.
All of my other stocks are about flat, with DDD being the outlier to the downside. After losing 2% in yesterday’s homosexual trade, I was hoping to regain some lost coin today. Hence, I bought some IDTI and JIVE in order to try something different. JIVE is more of a momo trade than IDTI, however. I intend on buying IDTI over the next 3 months, as I am keenly interested in their “wireless charger” technology.
MCK and ATML are my #1 and #2 positions by size. I need those horsefuckers to trade up, if I am going to have any fun today.
By the way, I was elated to read about some Pakistani, would-be suicide vest bomber, die from the toxic fumes that emanated from the American flag he burned. How funny is that? That will learn them quite nicely for fucking with our flag.
In other news, I have several irons in the fire that need to be dealt with. It looks like a slow session, with marginal bias to the upside.
The market is waiting for something to happen.
55 Responses to Patiently Waiting for Action
you must subconsciously be rooting for obama if you’re encouraged by that romney foot-in-mouth-again speech … it will gain him precisely zero votes he didn’t already have
Reply
Remember the “clinging to guns and religion” speech 0bama gave? He still got the hillbilly Iowa and Pennsylvania vote.
“It’s the economy stupid” said Bill Clinton and that’s about it,
Romney wins by a landslide. Libs will be in denial ranting that we are all racists. They will be foaming at the mouth in Nov.
you got the vapors
Reply
Problem is the media is completely DOMINATED by the extreme left; they won’t even LOOK at who Obama is and anyone who dares to try is pounced on. Meanwhile if Romney makes the SLIGHTEST political mistake they are all over them. The media is so biased to the left it will go into future history books (if there is any future history if the left wins)…
Reply
You’re dead-on with respect to the media. If a Republican had so many red flags in his background, was caught on tape telling the Russian President he’d have “more flexibility” after the election, had gone back on dozens of campaign promises, or had tons of gaffes when his teleprompter was absent (which are only available in individually-taped videos on YouTube), the media would be all over him like it was with Bush and has been with Romney. Trouble is, the victors write the history. There certainly will be history if the left wins. It will simply refer to the “sad, backward days” before the left-wingers held every single political office in this country, appointed enough justices to turn the Supreme Court liberal, and turned the country into a socialist state. If Obama was willing to do all he did while facing a reelection battle, imagine what he’ll do without needing to worry about being reelected and with a purported “mandate” to go nutso to the left.
Reply
You obviously don’t watch Fox News
Reply
Fox News (rightly) is viewed as extremely far-right biased, such that nobody really views it as a mainstream news outlet. Some people view outlets like MSNBC and CNN as biased toward the left, but not to the extent that Fox News is viewed as biased. Most troubling are outlets like ABC, CBS, newspapers like the WA Post and NY Times — those all are viewed as credible mainstream news sources, and all are biased in favor of the Dems generally and O in particular.
Reply
Romney is so cruel to the underpriveleged on the welfare plantation. Where is the Mormon compassion?
Reply
Cascadian please check out my blog…i’d like your input…
Reply
It’s only politically correct bitch about those who contribute to society and not the millions of lazy parasitic entitled leeches.
Reply
Prosperity, like everything else in life, works on a bell curve. For every one of us that does well in life, there is an unfortunate person who, under the laws of science, will do poorly. Instead of kicking them while they are down, be grateful for everything that’s yours.
It’s the ones in the middle that I pity. Those who never took a risk and never tasted failure.
Reply
Really?! You pity the middle class for making a good living and paying taxes and supporting those who do not contribute to society.
And you have a great respect for those who abuse welfare and other social programs. I mean, do you really think Romney was trying to disparage the elderly or those who are mentally/physically handicapped with his 47% comment?
SMH etf and INTC coming back quietly while the TradeBots are preoccupied with AAPL and $700.00.
Watch ‘em.
TC,
Was it you that dinged oil for 3$ yesterday? Your high frequency TraderCaddyBots?
http://www.reuters.com/article/2012/09/17/us-markets-oil-cftc-idUSBRE88G1BL20120917
Reply
People are trying to spin it as if he’s demonizing the broke and poor… And not the policy the creates the dependency and creates the poor…
To quote Mark Boucher
“Take, for example, the policy of stealing crops from farmers to feed the poor. While the temporary result might be food distributed to more people, the long-run result of doing so would be different. The farmer would have little incentive to produce efficiently or with more labor-effort because the results of his increased labor would not benefit him (in fact, the less he labored producing, the less effort he would be wasting); therefore, he would begin to produce less food. Over the long run, total production would dwindle so much due to this lack of incentive that there would be far less food for everyone in the society. If you doubt this, take a look at farm production in the former Soviet Union, or at the difference in the farm production of Guangdong’s farms in China before and after farmers were allowed to sell their excess crops themselves (production rose more than 100% in just three years). When you steal from the producers, the poor are temporarily enriched, but in the long run everyone is impoverished. As Socialism and Communism were becoming popular in the 1920s, Mises used this theory to predict their future failure. He showed how poor incentives created by Communism and Socialism would eventually lead to such dismal economic growth rates and widespread relative poverty that these statist systems would fall apart of their own weight. Thus 70 years ago, Mises predicted the collapse of Communism that we have witnessed in Russia and China.”
“…Similarly, whatever you are subsidizing with a distortion, you will get more of. When asked what the expected results would be of the Johnson “War on Poverty” welfare programs, Mises once quipped that it would create a great expansion
in the number of people seeking assistance, and specifically create an explosion in unwed single mothers with multiple children because that was the highest paid
category on the welfare system. Since then the number people seeking assistance is up more than 20-fold, while the number of unwed mothers with multiple children on welfare has increased by over 1000 percent, and the poverty
rate has moved higher (as we shall explore in more depth).”
page 170-171 “hedge fund edge”
Reply
Bravo
Reply
Obama’s administration HAS COMMERICALS pushing people to apply for foodstamps; the USDA opened an office IN MEXICO teaching people how to apply for American ‘benefits (presumably after they sneak in). The theory behind this – they will become registered Democrats…
Reply
Socialisms goal? Make people DEPENDENT on the govt, then control their lives completely. That is the ‘Imam in chief’s’ goal.
Reply
“Incentive to produce” and “lower taxes for the jobs creators” are teabag fairy tales lacking in evidence save for that which disproves them ….
The Congressional Research Service weighed in with a new report analyzing tax rates since the end of World War II. The report couldn’t be any worse for Romney and Republicans’ argument for more tax cuts for the top tax brackets.
“There is not conclusive evidence, however, to substantiate a clear relationship between the 65-year steady reduction in the top tax rates and economic growth,” the CRS reported. “Analysis of such data suggests the reduction in the top tax rates have had little association with saving, investment, or productivity growth.”
The CRS continued, “However, the top tax rate reductions appear to be associated with the increasing concentration of income at the top of the income distribution.”
Reply
http://www.moneynews.com/Economy/Companies-US-Taxes-move/2012/08/29/id/450200
Lower taxes to the job creators is about the tax rate relative to the rest of the world, and is only one factor. If a company has a competative advantage in US market and wide customer base, they may not move overseas. But with all things being equal they certainly will seek the greatest net profit after taxes even if that means moving overseas. It’s not just federal government, but local governments as well. The mayor of the city of Scranton, Pa, has been faced with a devastating collapse in revenue creating a crippling cash flow problem. What has been taking place is the same as the collapse of the City of Mainz. They raised taxes, chased the rich out of town, and were left with those who did not pay taxes, and still had their hand sticking straight out.
Scranton Pennsylvania was forced to cut government employees to minimum wage because the city is broke.
Warren G. Harding (1921-23) cut the top rate from 73% to eventually 25% in 1926 posthumously and the “roaring 20’s” were born. Calvin Coolidge (1923-29) continued Harding’s economic policies of cutting taxes and spending resulting in GDP growth rate of 27% from 1921 to 1929.
In 1932 President Herbert Hoover (1929-32) raised the top rate to 63% and Roosevelt (1933-44) followed that in 1936 with an increase to 79%.
Reply
“Looking at the tax collections and looking for a correlation using statistical regression analysis one finds almost no correlation between the tax rate and tax collections as measured as a percent of GDP.”
In english? Raising taxes does not raise revenue.
Reply
Would you sign a lease agreement that allows the landlord to raise rates if suddenly the landlord was short on money because they were irresponsible? Would you continue renting from someone that raised rents sporadically? If you were forced into such an agreement wouldn’t that suddenly effect your spending habits so you can maintain your shelter even if those spending habits supported others income? Wouldn’t you consider alternative options even if it meant sending income to tax safe haven overseas?
There is a reason higher or lower income taxes doesn’t help. The companies may try to get more overseas income to increase their net after tax profit. That wouldn’t happen as severely as some republicans suggest, but it is enough to offset any gains in revenue.
But ultimately, companies may choose layoffs if the payroll taxes on top of income taxes is too much. It is the payroll tax specifically that must be addressed not taxes in general and the payroll tax should be reduced and the remaining taxes should be more stable.
Personally I think the politicians shouldn’t even have a say in the economy, it only leads to corruption and politicians representing the interest of the campaign financiers… Particularly in areas where there are no term limits such as senate and congress. Taxes fine, but the money from taxes primarily just lines the pockets of primary dealers who buys government debt and resells it and causes us unneeded interest. It doesn’t stimulate the local economy when the banks that trade with the federal reserve are international.
Reply
Think tanks that are mostly organized with multiple business interests OR political biases will simply come up with a way to manipulate studies and statistics (wide variance, limited sample size) until they get something that shows them the results that favor their own interests. I would put very little stock into what a study of some “think tank” says unless you know the specifics and the entire study and how they came up with their conclusions. Mostly, correlation does not imply causality but that’s exactly what think tanks try to do with statistics.
Reply
Teahouse, there you go with facts again. Facts are irrelevant to politics. The other party has their own set of “facts” to counter every conceivable real fact.
People choose the Repub party because they want to pay less in taxes. It doesn’t matter not to them if the country as a whole goes down the drain. And they don’t mind one bit using lies to defend their position– which are easily available from Right WIng web sites. That’s just how this is done.
Don’t worry. Obama will win easily. Most people don’t believe the lies. No point in your trying to answer the lies, since the person U R talking to is just going to post the Fox News version of the “facts” in response to you. Save your time for having fun & for the Obama victory celebration party.
Reply
LOL, teahouse has the “real facts”? Okay, going by that… from the study linked to by teahouse..
“Advocates of lower tax rates argue that reduced rates would increase economic growth, increase saving and investment, and boost productivity (increase the economic pie). Proponents of higher tax rates argue that higher tax revenues are necessary for debt reduction, that tax rates on the rich are too low (i.e., they violate the Buffett rule), and that higher tax rates on the rich would moderate increasing income inequality (change how the economic pie is distributed). This report attempts to clarify whether or not there is an association between the tax rates of the highest
income taxpayers and economic growth….”
Then they go on and the conclusion? No correlation!
Shocking! So in other words, higher taxes won’t bring in more money, yet some reason we want to *** with the tax rate anyways. If you had a landlord who doubled you rent just because he felt like it… you would probably move out. So any increase in tax is negated by people moving out of town making the net effect of increased taxes…. ZERO. Same for tax breaks. This is why raising taxes doesn’t raise revenue. “No correlation” means EXACTLY what some of the more moderate Austrian economists/teaparty says which is that taxes chases away the producers enough to offset whatever gain felt by the increased taxes” The extreme of teaparty will say that lowering taxes is pro growth and will bring in more production.. but even some of them will admit that it won’t be felt for several years since the capital has to be invested, new entreprenuers need to grow throughout the entire business cycle that needs to play out… The extreme left will say that revenues will go up if you raise taxes and no one will leave town… and people won’t move money overseas. The study proves that the extreme left is clearly wrong as there is no correlation between higher taxes and economic growth. The extreme right is not able to be proven wrong or right by this study. There is no effect meaning that although revenue is not gained from lower taxes, it is not lost either but there is still a chance which cannot be ruled out that the effects are either gradual to the point that by the time there is an effect the tax rate will have changed drastically blocking any correlation, or there are simply too many other variables throughout the limited sample size to come up with any sort of meaningful conclusion.
Reply
“there is no correlation between higher taxes and economic growth.”
Neither the study nor the Dems tries to imply that higher taxes create growth … that absurd! Higher taxes coupled with spending cuts helps reduce the deficit … The Right (esp the JBS members here) keep extolling the virtues of lower taxes for the jobs creators is what stimulates growth and that is a fallacy and patently untrue … that’s the point!
Reply
PS: Don’t rent … buy a condo unless the GOP does away with the mortgage interest deduction in order to institute a flat tax in order to shift more tax responsibility to the middle class …. Go Mitt!
Reply
Oh you are that retarded? Increased taxation does not increase revenue..l look it up… No correlation between increased taxes and increased revenue… They can’t pay down debt if they don’t increase the amount of money by which to do it since raising taxes doesn’t accomplish that!
Reply
Two comments:
1. Fantastic to hear our flags can kill idiots that burn them. However, am a little worried about our Boy Scouts who periodically burn damaged flags.
2. AMD is down about 8% today on CFO resignation. While not a great company, I do think its stock is way oversold and should be near a bottom. Do you like it as a quick in and out trade to pick up 5+% within a week or so?
lol, yes that is hilarious… idiot can’t even destroy a single flag without destroying himself, but then again that is the nature of suicide bombers. I have a feeling the 40 virgins will not be the kind that is of the suicide bomber’s sexual preference
Reply
>flags can kill idiots that burn them
New label for American flags:
Warning: Burning flag will release chemicals hazardous to your health; Use certified OSHA mask before igniting
Reply
for those trying to decipher todays action – when price stuck in consolidation focus on the ranges. they are what really matters.
Reply
Yeah , the toxicity from the flag odors got him ; similar to the shit in the walls of your old house . That shit will kill you .
Reply
Drop about 10,000,000 flags of the same type all across the Mid East.
Reply
haha YES, problem solved
Reply
DDD needs to catch a bid. It’s dropped below the 50 day ma a couple of times so far this year and it’s always bounced back. Hopefully it has at least one more rally left in the tank.
Reply
DECK-Tomorrow’s monstor stock!
http://www.fool.com/investing/general/2012/09/18/deckers-outdoor-tomorrows-monster-stock.aspx
Sheep skin prices plummet by around 80% in the past 12 months.
http://www.meattradenewsdaily.co.uk/news/250712/australia___lambskin_market_collapses.aspx
Get a load of this . . .
http://www.businessinsider.com/charts-rise-of-government-dependence-2012-9?op=1
Reply
Is it time to buy YELP yet?
Reply
Knock, Knock…Its Nymph here with her sidekick the US Dollar. The Clam Swallowed us whole, but we are still alive and pounding on the inside of the Shell. Our only hope is that Oil will make the Clam gag and open up his shell to let us out. Opec is saying they want 100, so prices need to come down as they tell FT they are pumping more. USA/Europe War Games in the Strait are going on right now, so far Iran is looking so lame with their talk about how insiders got in and cut power, messing up their equipment..If Nymph and US Dollar are going to live, we need to hold Brent under 120 and WTI under 100.
Reply
When you get a chance, perhaps you could provide us all your current FIBO analysis of AAPL. I know it was to breakdown at $270 or so, but now what? Think people will still buy these funny little iProducts?
Reply
was ^supposed to breakdown
A- Game!
Reply
900.00ish is the next and last level..In 2010 I would never guess that the FOMC would risk so much of our future on flooding the economy with liquidation, Global PMI’s still suck, so that money was wasted..but now everyone and their Dog is long AAPL.
Reply
Actually to be specific, based on the levels from the June 22,2010 the levels are
921.11 623%
601.59 423%
401.04 261%
278.15 161%
202.20 100%
June 22,2010 is the date of my article which I spelled out the basis of my analysis giving the 0% and 100% levels.
Reply
Nice – just wanted to give you something to analyze. I’ll hold.
Reply
LOL. I find LeFly’s $IDTI trade to be… a bit of a shock.
Reply
ARNA is going to close above the 50 DMA I’m in!
Reply
More good drugs:
$ARIA $CBST
going with OREX
Reply
Fuck Obama!
Reply
No thanks, I can do better.
Reply