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Trade what you see NOT what you expect

  • #20,901
  • Aug 3, 2009 12:36pm Aug 3, 2009 12:36pm
Quoting PippiNole
Here is a little town hall meeting with Sen. Arlen Specter in Pa. This gives a good indication of what people think of what's going on in Washington regarding healthcare.

http://www.youtube.com/watch?v=J-Bpshk5nX0
I would not be at all surprised if at some point there isn't rioting in the streets.

People like Specter, Pelosi, Reid and many others need to find a new line of work. They're attempting to destroy this country with legislation that's causing irreparable harm to this country.
Hi, my name is Barry and you can keep your doctor...
  • #20,902
  • Aug 3, 2009 12:38pm Aug 3, 2009 12:38pm
Quoting eohater
I wouldn't want to be delivering a speech to that angry mob!
It's more than just the fact that he and others in congress are cramming unclear laws down our throats without even knowing what's in the bills. We Pennsylvanians have long suspected Specter has been a democrat running as a republican for years. Now, he when "finally" switches sides officially to provide a filibuster proof Senate, well that just tore it with us and our once Proud Republican state.
Ghost Rider - WWTBMD?
  • #20,903
  • Aug 3, 2009 12:45pm Aug 3, 2009 12:45pm
I just had a short filled on GU at 6968.
Just digging in the trenches like everyone else!
  • #20,904
  • Aug 3, 2009 12:46pm Aug 3, 2009 12:46pm
Quoting eohater
I just had a short filled on GU at 6968.
SL on this position is 1.7005
Just digging in the trenches like everyone else!
  • #20,905
  • Aug 3, 2009 12:47pm Aug 3, 2009 12:47pm
Quoting cisco
I would not be at all surprised if at some point there isn't rioting in the streets.

People like Specter, Pelosi, Reid and many others need to find a new line of work. They're attempting to destroy this country with legislation that's causing irreparable harm to this country.
Once the US unemployment rate hits 20%, then we will see rioting.
Just digging in the trenches like everyone else!
  • #20,906
  • Aug 3, 2009 12:48pm Aug 3, 2009 12:48pm
Quoting eohater
Once the US unemployment rate hits 20%, then we will see rioting.
the official rate at 20% What on earth would the "unofficial" rate at be then? People like Faber already claim the unofficial rate is around 16%!
'The past will always show us the future'
  • #20,907
  • Aug 3, 2009 12:52pm Aug 3, 2009 12:52pm
Quoting eohater
Once the US unemployment rate hits 20%, then we will see rioting.
From Yahoo!News
"AP ENTERPRISE: Plummeting tax revenues starve government just as Obama embarks on big plans"

http://finance.yahoo.com/news/AP-ENT...5&asset=&ccode=
  • #20,908
  • Aug 3, 2009 12:54pm Aug 3, 2009 12:54pm
Quoting terje
the official rate at 20% What on earth would the "unofficial" rate at be then? People like Faber already claim the unofficial rate is around 16%!
I'm thinking the unofficial rate would be near 30% Plus.
Just digging in the trenches like everyone else!
  • #20,909
  • Aug 3, 2009 12:56pm Aug 3, 2009 12:56pm
Quoting Komissar
From Yahoo!News
"AP ENTERPRISE: Plummeting tax revenues starve government just as Obama embarks on big plans"

http://finance.yahoo.com/news/AP-ENT...5&asset=&ccode=
Local govts. are already starved. When you have the State of California issuing IOU's to creditors, there's a problem. I read where a county in Georgia is laying off 70% of their staff the first of August just so they can continue to make payroll for the remaining employees.

But hey, everyone in America is eating steak for dinner.
Just digging in the trenches like everyone else!
  • #20,910
  • Aug 3, 2009 12:57pm Aug 3, 2009 12:57pm
Quoting eohater
I just had a short filled on GU at 6968.
Booked 10, cover at BE. If this level area holds the rest of the day, this will be the zinger trade from here back to 6580.
Just digging in the trenches like everyone else!
  • #20,911
  • Aug 3, 2009 12:59pm Aug 3, 2009 12:59pm
Quoting eohater
Local govts. are already starved. When you have the State of California issuing IOU's to creditors, there's a problem. I read where a county in Georgia is laying off 70% of their staff the first of August just so they can continue to make payroll for the remaining employees.

But hey, everyone in America is eating steak for dinner.
Glen Beck showed cover for August NewsWeek on Friday. There was a big balloon with label "Recession is over!"
And then Glen made a good comment:
"Yeah, right! Recession is over, and Depression is coming."
  • #20,912
  • Aug 3, 2009 1:09pm Aug 3, 2009 1:09pm
Quoting Komissar
Glen Beck showed cover for August NewsWeek on Friday. There was a big balloon with label "Recession is over!"
And then Glen made a good comment:
"Yeah, right! Recession is over, and Depression is coming."
I hate to say it, but I think he's right! If not a depression, then at least a double recession as the media will call it when we're back in the 6000's on the DOW.
Just digging in the trenches like everyone else!
  • #20,913
  • Aug 3, 2009 1:22pm Aug 3, 2009 1:22pm
Quoting eohater
I hate to say it, but I think he's right! If not a depression, then at least a double recession as the media will call it when we're back in the 6000's on the DOW.
Roubini warned several months ago that this recession will be not V - shape, but U - shape, and very possible W - shape.
And looks like he was right.
Unemployment still grows. Credit Card and Commercial Real Estate bubbles are around the corner.
Everybody's saying that "good" results from companies are just accounting tricks and stretches, and it's not possible to repeat during the same year.
Retailers started pushing X-mass sales!
Oh, yeah, recession is over!

And one more thing. Look at todays numbers. Dow is rising, BUT
10yrs bonds are gaining too. I think this Dow rally is fake.
  • #20,914
  • Aug 3, 2009 1:29pm Aug 3, 2009 1:29pm
Quoting eohater
Booked 10, cover at BE. If this level area holds the rest of the day, this will be the zinger trade from here back to 6580.
I have a feeling that they will not let go of that 1.7level so easily and we may see bunch of stops being collected perhaps during asian session when volume is lower and easier to mark up the price. if those stops get trigered it may take us up to 1.71 and quickly.

but for now im short from 60 and stop at 80
  • #20,915
  • Aug 3, 2009 1:45pm Aug 3, 2009 1:45pm
In CITI AM free london ''financial'' newspaper todays headline was something along the lines '' Its official- banks are profitable again''- or something similar to that. One thing that baffles me is how quickly everyone forgot that BoE bought over 200 billion of toxic assets from these banks in order to keep em functioning, why doesnt anyone factor that in o_O??

I think one indicator to the ''strength'' of UK economy is British airways results last week. Record loss and 24 planes grounded to cut costs. If economy was so great wouldnt people travel more???

I see alot of people calling big drop soon, but i think untill the more pesimistic ones will change their mind we will not see that drop
  • #20,916
  • Aug 3, 2009 1:56pm Aug 3, 2009 1:56pm
Quoting eohater
I just had a short filled on GU at 6968.
Booked more profit at 6920. Rest remains at BE.
Just digging in the trenches like everyone else!
  • #20,917
  • Aug 3, 2009 1:56pm Aug 3, 2009 1:56pm
Quoting Komissar
Roubini warned several months ago that this recession will be not V - shape, but U - shape, and very possible W - shape.
And looks like he was right.
Unemployment still grows. Credit Card and Commercial Real Estate bubbles are around the corner.
Everybody's saying that "good" results from companies are just accounting tricks and stretches, and it's not possible to repeat during the same year.
Retailers started pushing X-mass sales!
Oh, yeah, recession is over!

And one more thing. Look at todays numbers. Dow is rising, BUT
10yrs bonds are gaining...
Right now only about 10% of the 790 billion stimulus money has actually been spent. Next year and the year after that when the big money starts flooding the market then watch out for massive inflation. That money is being printed and is basically worthless.
Hi, my name is Barry and you can keep your doctor...
  • #20,918
  • Aug 3, 2009 1:58pm Aug 3, 2009 1:58pm
Can someone get the mistress to give up 137.30 area. Damn! I'm tired of her just sitting on the line. Cross it already!!
Just digging in the trenches like everyone else!
  • #20,919
  • Aug 3, 2009 1:59pm Aug 3, 2009 1:59pm
Quoting Komissar
Glen Beck showed cover for August NewsWeek on Friday. There was a big balloon with label "Recession is over!"
And then Glen made a good comment:
"Yeah, right! Recession is over, and Depression is coming."
I'm amazed at the things Glenn Beck and his staff uncover. Yet the public never hears about those things from other news sources.
Hi, my name is Barry and you can keep your doctor...
  • #20,920
  • Aug 3, 2009 2:16pm Aug 3, 2009 2:16pm
Quoting cisco
I'm amazed at the things Glenn Beck and his staff uncover. Yet the public never hears about those things from other news sources.
Not only Glen beck, but Mr. President too.
http://www.breitbart.tv/obama-mocks-...is-over-cover/
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