Please ignore the previous post about riots and toy makers and shit. Our panda friends to the east are still busy manipulating their economy higher. They just reported a weaker than expected, but still kickass, 9% quarter of GDP growth.
Some analysts feared Chinese GDP could come in as low as 7%. Even though 9 is less than 12, it’s still bigger than 7. Therefore, we’re going higher, at least for now.
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FXI then…
They’ve got 3 fucking spies at the San Diego Zoo!
Investor Donny thinks we should feed the fucking Pandas to the Lions. Throw them over the fence, and cover the childrens eyes.
Pandas will eat your face if you let them.
I am such a victim, in real life.
NY Times article on Cramer:
http://www.nytimes.com/2008/10/20/business/media/20carr.html?hp
China always understates their growth unlike us. That 9% was probably more like 10% or 11%. Our 1.5% is more like negative 5%.
This credit crisis won’t affect China much. Their savings rate is like 30%. People there have money in the bank ( or under their mattresses ) unlike our consumers who are dead broke and overextended. Businesses there are cash rich and not dependent on credit unlike our broke ass companies – GM who can’t turn a profit if their lives depended on it.
When this crisis is over, China will be the world’s economic superpower and the USA will be no better of than Mali ( or some other broke African country).
On another note , does anyone know how I can apply for Chinese citizenship ?
The Baltic Exchange Dry Index suggests everything has grinded to a halt. Which is exactly what you’d expect when credit contracts.
Chinamen are liars. They charge you for lobster without giving you lobster.
http://investmenttools.com/futures/bdi_baltic_dry_index.htm
Hey Fly
Credit Suisse target price for NOV is 38 bucks. You have any comment about that?
Those Chinese fucks also use 11 and 12 yr olds for Olympics gymnastics…and they are to be trusted? All told, cute little back end on them there gymnasts….
You fuckers need to stop being so emo.
Man up.
If you think the Americans don’t lie, then you are the biggest ASS there is.
Americans are being manipulated like puppets.
How do you think this whole mess got started if it were not for a bunch of greedy bastards?
Victory Tomorrow … Sweet Victory!
China made 9% GDP!!
Maybe the USA needs to start adding melamine to our milk products(to kick up protein levels), and GHB to our kiddie toys, to mellow out the little tikes, too?
Panda bears will only eat your face off if your face is made of tasty bamboo, which they have a lot of over there.
Apparently, they also have too much pulp, as Canadian warehouses are overflowing with the stuff on account of either declining Chinese demand OR their inability to get credit.
Probably both.
http://www.financialpost.com/story.html?id=883177
Ok, tough guy, I dare you to stick your face in front of a panda.
That fucker will rip your eyes out, then proceed to chew on your brain.
I would say anything that can chew through club-like raw bamboo stalks has some tenacious jaws.
Oh yeah, and it’s is a….umm…bear.
Maybe, but those so-called “bears” have names like Ling Ling and Ping Pong.
For fagguleh…
I would rather be eaten by a Kodiak named Bruce.
Can’t stand those fucking panda’s. That’s a species that should be made extinct for the reason that every single greenhead, socialist, fuckwit loves l=those fat lazy slob bears.
Kill them all and sell their entrails to the chinese market as they use them for Viagra substitutes.
fuck china. i hope it rains ipods everywhere and smashes all the cars in the great wall motors storage yards.
Fuck you j. Pandas are awesome, fuckface.
These are the only pandas worth discussing.
_
Anyone like DIG at this time? Its looking tempting.
Panda attack:
http://www.youtube.com/watch?v=1r06d6AbMwg
Jake,
Do you prefer coins to bars?
Can you recommend a seller, incl. for platinum?
Thanks!
Here’s my thesis on why I think the stock market is going to take off.
1. The credit markets begin to ease up and spreads start returning to normal over the next few months as risk becomes socialized and people see that the level of invention strafes off worse problems.
2. People have put a load of money into cash all over the world as they escape risk.
3 The CBS are reluctant to raise rates because economies are week and don’t want to double dip.
4 People begin to worry about their shitty returns and begin chasing higher returns in the stock market.
Stocks take off as people risk appetite starts the while ball rolling all over again.
Stocks are where the next bubble is going to come from… in a big way.
The bubble is being created right now as a result of CB”S expanding their balance sheet in a huge way.
Anyone about to tell me we still have problems with the credit crisis need to explain this.
The IMF estimates the credit problem is around $1 to 1.4 trillion Banks have already wiped out $600 billion and have received $ 250 billion in tarp and about 500 billion in private equity
600 + 250 = 750.
The rest is held outside the banking system and doesn’t really matter.
The Fred and fan are also buying the shitty securities.
There is no longer a problem with the US baking system.
Add the fact that the CBS are about to embark on a big monetary expansion and we have liftoff to another bubble.
If people don’t think the stock market will be the new bubble they need to explain where it will go.
http://www.goldmoney.com/
Even though 9 is less than 12, it’s still bigger than 7.
Whoa, easy with the vector calculus, Professor Hawking. Some of us are still working through the intro to “Excel for Dummies”.
Nice not to have to ship/store it… thanks E8.
The government guaranteeing the balance sheets and the growth of CB balance sheets is the biggest inflationary do of all time. it is so massively bullish stocks I’m panicking at the thought.
No problem ….
OEW Recap for those interested:
SHORT TERM
Support for the SPX is at the 935 pivot and then 912, with resistance at 961 and 990. The support pivots under 912 remain: 848, 789 and then 768 the 2002 low. Short term momentum was overbought at fridays highs, then dropped to neutral into the close. Friday’s SPX 985 high might have ended Minute wave ii of wave 5 for this downtrend. The important days to watch this week will be monday and tuesday. If the market can hold thursdays lows at SPX 866 it might be able to rally further to extend its bounce off of the 840 downtrend low. If not, new downtrend lows are possible. The key pivot to observe this time is SPX 848.
More OEW:
MEDIUM TERM: downtrend holding SPX 840
In reviewing the past 80 years of stock market data we identified five historical events that were similar to the recent selloff in the market. These events were the 1929 2-day crash, the 1987 1-day crash, and the multi-week crashes of 1940, 1962 and 1966. In all five events the stock market made a new intraday low or a new weekly closing low, within week(s) after the initial event. This suggests, the probabilites are high that either the SPX intraday low of 840, or the weekly close on Oct 10th at 899 will be exceeded to the downside. In four of five of the events a new intraday low was made, the only exception being 1987. And in four of five of the events a new weekly closing low was made, the only exception being 1940. Lastly, only the 1929 crash and the 1987 crash displayed an intraday rebound similar to the 25% rebound witnessed this week. In the other three instances the intraday rebounds were contained to 12% or less. This suggests that the recent low at SPX 840 was probably only wave 3 of this downtrend, and the recent bounce to SPX 1044 wave 4.
oops 600 =250 =850.
Last OEM post:
LONG TERM: bear market
After remaining bearish through mid-September 2008 we mistakenly turned bullish for what we considered a potentially decent bear market rally. The SPX surged in two days what three of the four uptrends had failed to accomplish in their entire trend. When the market failed to hold support at SPX 1179, we turned neutral at the end of September. We still expected that Primary wave A would bottom soon, but over the next two weeks the bottom fell out, and the market dropped lower than our January 2008 forecast. The wave pattern remains correct. But clearly the historical fundamental problems this market was to encounter were not anticipated. The failures of LEH and WM, and the government takeover of FNM/FRE and AIG brought the banking system to a standstill. Libor rates soared, corporate bond spreads soared, commodities collapsed, and markets worldwide went into panic mode. Quite an historical event, and somewhat comparable to the massive financial collapse in the early 1930’s. This time, however, there has been a concerted worldwide effort to address these problems. Whereas in the early 1930’s every country was on its own, to fend for itself, as protectionism and isolation was the rule of the day. Certainly the economy is heading into a recession. But how deep it becomes and how long it takes depends upon how much we have learned over the past seven decades. After a total review of all historical market data we noticed a few long term alternate counts should the current count fail. Until it does, we are maintaining the prime SPX count, and the similar DOW alternate count.
Copy and Paste. Plagiarism is not cool.
Criminy, would you guys wake up already! Asia is rocking, buyouts are happening, futures are popping, rates are dumping, and Warren Buffet is making Alan Abelson look like some old guy who should stop writing letters to the editor!
get up already!
Hey Fly…
Get up. Markets are moving. Wake up.
China’s good, yay, firecrackers and MSG for everyone!
FLY
Hurry up and launch the new site. My welfare check will be here on the first and it will only last a day or two.
Is there any type of “lay away” program you guys offer.
Im dying to see your brain in a software program.
Cant wait to sign up
all you need to look at is China’s YOY energy use. That will tell you alot about growth.
Fly,
Read this on Mosaic: http://notablecalls.blogspot.com/2008/10/mosaic-nysemos-cargill-standstill.html
Remember the post Bear Stearns 400 point rallies we had back in March. Maybe it’s time for another post AIG, LEH, WAMU 900 point up day?
As a reminder:
“Donny reignites his position in DIG @ 30.12 and will wait for the pop to bank sick sums of coin next week! Fucking Sick!” ~ October 17th, 2008 at 4:00 pm last Friday
Take a look at where DIG is trading right now. That’s right, fucking sicking, egregious, VICTORY … SWEET VICTORY!
you left out wachie, Mushroom
I touched on the buying in MOS and CHK last night. Watch for some shorts to start to wobble.
The DIG train ~ Fucking Sickening … Disgusting … Perverted! Donny wins AGAIN!
http://www.youtube.com/watch?v=AmFM8MepDjE
Donny Sells DIG for 32.99
Day looks promising, however I’m fucking pissed that among my laundry list of pending orders for today, all, including NOV were completed at market open except for MOS. That fucker took 6 mins 34 seconds to buy! Now for the frog march to $40…
As a tell AAPL looking WEAK
Bye, Bye boys and girls … I’m done for the day. I will return at the close, and boast about my 4th egregious victory in the last 4 trading days.
UYG stuck in the mud @ 10
I’m keeping most of my longs, some trims, some sells, no new buys but I am buying ultra short etf’s … just in case we have one more dive
AAPL looks like it could break down under 97 WTF!!
AAPL is going no where. People can’t afford fucking slurpees from the Circle K. Do you really think they are buying Macs and iPhones? I know all about the rosy predictions for the iPhone, but there are always the diehards that are “gay” for Apple stuff (and buy it). How many iPhones do you see when you walk around town. I don’t see many. Aple may beat estimates, but they will guide lower.