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  • #10,881
  • Oct 3, 2010 5:40pm Oct 3, 2010 5:40pm
Quoting calderone
Well, Rand Paul will soon be our next senator if I am reading Kentuckians correctly. It's a start. lol
I only wish he could represent Kentucky AND Ohio......
  • #10,882
  • Oct 3, 2010 5:41pm Oct 3, 2010 5:41pm
The Bank of Japan has meetings today, I wonder how many ways they are going to say, "Stop buying the friggin' Yen!"
  • #10,883
  • Oct 4, 2010 10:52am Oct 4, 2010 10:52am
Quoting clockwork71
I only wish he could represent Kentucky AND Ohio......
It's funny that many national polls showed Paul ahead of Conway by double digits but the local polls only showed Paul ahead by 2 pts. I don't know if the race is tightening or if the libs are using selective data. lol Jack Conway has been getting very sharp with his attacks. I hope the people are as sick of this as I am.

Anyway, sorry to talk politics in a great thread like this. No problem if it gets binned.
  • #10,884
  • Oct 4, 2010 11:49am Oct 4, 2010 11:49am
Is it possible we are seeing a bottoming formation in the USD/JPY? I have been scaling in lately, in very small increments. Only time will tell, but I am sure the BoJ is sitting here watching.

I does look as if 83 might be the short term bottom if nothing else.
  • #10,885
  • Oct 4, 2010 11:54am Oct 4, 2010 11:54am
Citi is a stock I have been slowly buying over the last few months. I believe that we are near the end of the misery for those folks. I believe the book value of the stock is nearer to $9 (if memory serves me right) than it is to the price it sits at now.

The US Government has made it clear that Citi won't fail. No matter what. Because of this, I believe this stock could be the buy of the decade. When the price gets over $5, funds will pile in.

The government also has announced that they expect to be out of Cit in the first quarter of next year. Waiting until then will be a little late. However, the truth is that this stock will eventually see $50 a share. It's only a matter of how long.

I have no stop losses in this stock, and won't be bothered until I see at least $20 a share. This will make a lovely addition to the old retirement account.

Chris
  • #10,886
  • Oct 4, 2010 12:55pm Oct 4, 2010 12:55pm
Quoting clockwork71
Citi is a stock I have been slowly buying over the last few months. I believe that we are near the end of the misery for those folks. I believe the book value of the stock is nearer to $9 (if memory serves me right) than it is to the price it sits at now.

The US Government has made it clear that Citi won't fail. No matter what. Because of this, I believe this stock could be the buy of the decade. When the price gets over $5, funds will pile in.

The government also has announced that they expect to be out of Cit in the first quarter of next year....
You might like this then ;-]
http://www.zerohedge.com/article/exc...rbed-investors
Carpe Divitiae
  • #10,887
  • Oct 4, 2010 2:11pm Oct 4, 2010 2:11pm
Quoting clockwork71
Is it possible we are seeing a bottoming formation in the USD/JPY? I have been scaling in lately, in very small increments. Only time will tell, but I am sure the BoJ is sitting here watching.

I does look as if 83 might be the short term bottom if nothing else.

I could certainly see putting in a few "feeler" trades with a stop a bit below 83.00. They intervened before at this level, perhaps they will do so again.

Also, if you look at the weekly charts from Apr 1990 - Apr 1995, they sure do look similar to today! We spent about a month around the 80.0-83.0 territory then.
Disregard all prognostications.
  • #10,888
  • Oct 4, 2010 2:35pm Oct 4, 2010 2:35pm
Quoting Pidgeon
I could certainly see putting in a few "feeler" trades with a stop a bit below 83.00. They intervened before at this level, perhaps they will do so again.

Also, if you look at the weekly charts from Apr 1990 - Apr 1995, they sure do look similar to today! We spent about a month around the 80.0-83.0 territory then.

Not to mention the fact that the pair is so quiet right now......suddenly. It's worth the "investment" if nothing else.
  • #10,889
  • Oct 4, 2010 2:52pm Oct 4, 2010 2:52pm
Quoting clockwork71
Not to mention the fact that the pair is so quiet right now......suddenly. It's worth the "investment" if nothing else.
Yes, I almost started to wonder if there was a bank holiday I had missed...
  • #10,890
  • Oct 4, 2010 4:06pm Oct 4, 2010 4:06pm
http://i56.tinypic.com/2vteh44.png
  • #10,891
  • Oct 4, 2010 6:42pm Oct 4, 2010 6:42pm
Quoting Low
http://i56.tinypic.com/2vteh44.png

It certainly would explain a lot. Like a slow-motion train wreck, it takes time, but it still causes devastation. It could also explain why the markets aren't really moving all that well.
  • #10,892
  • Oct 4, 2010 6:45pm Oct 4, 2010 6:45pm
Take a look at this chart......if you can afford it - oil is a great box play, and has been for months. Of course - so has USD/CAD......which is very similar in movement.
Attached Image (click to enlarge)
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  • #10,893
  • Oct 4, 2010 9:13pm Oct 4, 2010 9:13pm
Quoting clockwork71
I only wish he could represent Kentucky AND Ohio......
One last thing on Rand Paul -- Who like his father, has some genuinely good positions mixed in with some decidedly wing-nut fringe positions (e.g. the civil rights act went too far and business should have the right to discriminate against whoever they want). Anyway, a good article on the Tea Party movement by Matt Tiabbi in Rolling Stonei: http://www.rollingstone.com/politics/news/17390/210904

I'm sure not all will like it but I found it amusing. Exchanges like this were entertaining:

(This is an extended quote from the article)

"I'm anti-spending and anti-government," crows David, as scooter-bound Janice looks on. "The welfare state is out of control."

"OK," I say. "And what do you do for a living?"

"Me?" he says proudly. "Oh, I'm a property appraiser. Have been my whole life."

I frown. "Are either of you on Medicare?"

Silence: Then Janice, a nice enough woman, it seems, slowly raises her hand, offering a faint smile, as if to say, You got me!

"Let me get this straight," I say to David. "You've been picking up a check from the government for decades, as a tax assessor, and your wife is on Medicare. How can you complain about the welfare state?"

"Well," he says, "there's a lot of people on welfare who don't deserve it. Too many people are living off the government."

"But," I protest, "you live off the government. And have been your whole life!"

"Yeah," he says, "but I don't make very much." Vast forests have already been sacrificed to the public debate about the Tea Party: what it is, what it means, where it's going. But after lengthy study of the phenomenon, I've concluded that the whole miserable narrative boils down to one stark fact: They're full of shit. All of them. At the voter level, the Tea Party is a movement that purports to be furious about government spending — only the reality is that the vast majority of its members are former Bush supporters who yawned through two terms of record deficits and spent the past two electoral cycles frothing not about spending but about John Kerry's medals and Barack Obama's Sixties associations. The average Tea Partier is sincerely against government spending — with the exception of the money spent on them.


On a markets related note -- I know the JPY gets all the press but the Swiss Franc is closing in on levels not seen in 20+years -- at least vs. the dollar and pound...When do they say "uncle"?
  • #10,894
  • Oct 4, 2010 10:37pm Oct 4, 2010 10:37pm
Quoting InfinitySL
One last thing on Rand Paul -- Who like his father, has some genuinely good positions mixed in with some decidedly wing-nut fringe positions (e.g. the civil rights act went too far and business should have the right to discriminate against whoever they want)....

That's a poor assessment on the Tea Party, with an obvious slant. AMERICANS like money spent on them, in all areas. Party affiliation doesn't really matter. (Except people like myself who have a sense of pride and make my own money appear with businesses, most people have no idea how things really work. It's all money that appears out of thin air....it's the "governments money" they are taking, while not knowing it's their own.) I think that it was Jefferson that said The Republic will fail when people realize they can write themselves checks. Our founding fathers would be really pissed off at a lot of people. In fact, they would be either Tea Party people - or start another revolution.

Anyway, onto the Franc. The Swiss are f**ked to be quite blunt. They gave up a long time ago. They are in the horrible position of hoping the USD will gain in value, and that the criminals in DC and at the Fed will stop killing it. Their interventions were horrible failures, and now they are taking it.....
  • #10,895
  • Oct 4, 2010 10:38pm Oct 4, 2010 10:38pm
By the way.....the Brazilians have shown us how it's done. They elected a clown to their equivalent of Congress. LOL

Rock on! Gotta love them.

Chris
  • #10,896
  • Oct 5, 2010 12:01am Oct 5, 2010 12:01am
Like I said....I have been scaling into the USD/JPY.

BoJ did something I didn't know possible - cut rates? LOL
  • #10,897
  • Oct 5, 2010 6:26am Oct 5, 2010 6:26am
Quoting clockwork71
That's a poor assessment on the Tea Party, with an obvious slant.
Oh come on...It's Matt Tiabbi -- Of course it's slanted! But sometimes even slanted articles reveal some truths that no one seems to want to confront.

But anyway, here's a weekly pinbar I didn't see anyone post...

Attached Image (click to enlarge)
Click to Enlarge Name: 2010-10-05 AUDNZD.png Size: 33 KB
  • #10,898
  • Oct 5, 2010 6:33am Oct 5, 2010 6:33am
This might be interesting for the Gold bugs here.

http://news.goldseek.com/GoldSeek/1286223866.php
  • #10,899
  • Oct 5, 2010 6:35am Oct 5, 2010 6:35am
Here's one that I'm currently long. It's making good money and growing earnings, it's in a good sector, and the technical setup is appealing to me -- You see it struggling at a round # like $50 and even has a positive day yesterday when the entire market was down. Anyhow, here is the daily & weekly:

Daily:
Attached Image (click to enlarge)
Click to Enlarge Name: 2010-10-05 RYN_Daily.png Size: 82 KB


Weekly:
Attached Image (click to enlarge)
Click to Enlarge Name: 2010-10-05 RYN_Weekly.png Size: 72 KB
  • #10,900
  • Oct 5, 2010 6:42am Oct 5, 2010 6:42am
Quoting stewrigh
This might be interesting for the Gold bugs here.

http://news.goldseek.com/GoldSeek/1286223866.php
At the very end of the article I found this:
Quote
Rob Kirby is proprietor of Kirbyanalytics.com and sales agent for Bullion Custodial Services. ... Subscribe to Kirbyanalytics news letter here. Buy physical gold, silver or platinum bullion here.

So he doesn't have a vested interest in seeing demand for gold go up does he?
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