Thursday, March 18, 2010

DODD DECLARES WAR updateII

We were able to imbed one of our reporters to record a recent "behind the door" meeting of the Senate banking committee. You know of course how important this meeting is to establish more regulatory framework to the multiple layers of regulatory framework that were ignored during the previous decade of creative banking. Of course it will be differnt this time. Remember readers Senator Dodd is a genuine American Hero and wishes to leave all of the plebes one last turd before he leaves the service of his country. Reminder to us .....he is a public servant. Not to mention his wife is not. I digress.

Fortunately our leopard has changed his spots and we were lucky enough to here some of the conversation planning our future at the last meeting.

"Mr Boehner can we hear your objections to this bill?"....
"Yes Mr. Chairman...I find any intrusion into the free market of banking to be an outrage....besides there is no component in this bill that addresses tanning beds in the Congressional Spa...and I really do find that to be an outrage. You promised me that Dodd and maybe I would have played ball better...but look at me ...I look terrible...let's rap this dog and pony show up I need a marlboro fast."
" I don't give a damn about your fkn tanning bed this is much more important than that. This is about my fkn legacy you weasel. Now either you get on board or I WILL go it alone. And if you don't believe I will then ask my wife...whoops...strike that please. Anyway Boehner you know what I mean.
" Of course Mr. Chairman and I apologize" ..We are The peoples's representatives and there is a decorum that must be adhered to...perhaps if you have a spray tan available in the spa I could be moved to support this bill. I think that is reasonable."
" Jeeze Boehner ....don't you get it. You are nickel and dimeing this bill when there is real money out there to be made. There are trillions at stake here you moron. Hell when I am out of here in a few months and you have retaken the chairmanship...if you have played ball on this you know full well they are going to take care of you more than a few grand on a tanning bed you fkn idiot.
" OK OK ..I get it. There is no reason to curse. One more thing I would like you to consider though on this bill could we attach a rider that provides for a bathroom attendant with hot moist towels and marlboros with tips already included?
" Oh my gd....we already have that in the spa mens room.....
" NO NO not the spa but in our our private office bathrooms"
" OK Boehner.....THAT I can totally agree with. I will also add Camels. You need to switch to them....they are heart healthy."

update I It appears gold has once more been influenced by large institutional trading, which has contributed to the recent week's volatility," says a note from Swiss refiner MKS's finance division

http://news.goldseek.com/BullionVault/1268922563.php

It is not best that we should all think alike; it is a difference of opinion that makes horse races.
Mark Twain

Alex Chilton dead ....singer and composer of The Letter in 1967......16 years old..wow

http://www.youtube.com/watch?v=-z8RCfnWPOo&feature=related

16 comments:

  1. Sidestepping now, had a minor position on and dumped before it rolled over in SLW, glad I did. This is choppy and if anything toppy here. When in doubt, no need to trade until a bigger move provides a direction and opportunity. - Analyze.

    ReplyDelete
  2. Yep, dumped it at 5 cents positive and avoided a nasty rip down. NKE would be interesting if it did a gap test later today. Great gap fill on FDX earlier. - Analyze.

    ReplyDelete
  3. Analyze I am sitting on my hands also. Still holding my tiny SLW, not enough to move the needle on my account so I will let it ride and add if we get to 15 or less.

    Internet is really bad here tonite so that is going against me as well. 6 mb in country and it seems like only 28k at the border.

    Tommorrow being OPEX should be choppy also. I dont plan on doing much unless there is a large opening gap.

    I sold my S too soon. Left more than I should have on the table but I did ring the register.

    ReplyDelete
  4. reduced my core again this am......yikes gettin low......SHOULD see sellll off .....still got enuff to gain my shorts if they keep runnin..time to take a break from tradin for a few hours......

    ReplyDelete
  5. Temo, Kli, I feel no need to trade here unless some real opportunity presents itself, most of my ponies appear to have rolled over into a mild downtrend but refuse to sell off hard, i.e. profit taking mode. There is not enough volatility here to really make the risk/reward work. No rush, the market is always there, forcing trades is the way to lose. - Analyze.

    ReplyDelete
  6. agree analyze all I just did was add small ammt ov my core back here...and will sit out the rest of today..........unless they run it back up....hehehhe......

    ReplyDelete
  7. Analyze, glad you joined in. I've been reading Joe and Kli's posts for a very long time. No nonsense here.
    Margie

    ReplyDelete
  8. Analyze good call on the 1170 level being a problem. High yesterday was 1168 and change. close enough for me.

    1060 could provide support if not then back to 1150

    What the hell is up with the dollar? Last remaining shorts getting squeexed?

    GL all,

    ReplyDelete
  9. check that should be 1160 not 1060. old eyes and tired fingers hehehe

    ReplyDelete
  10. Greece bailout in trouble...Germany gettn cold feet.....it doesn't wanna turn its back on the Greeks......but it may have to. (sorry couldn't resist) anyway big twouble bwewwing.

    ReplyDelete
  11. I think it's actually a good time to go long the EURUSD since there is no way that Germany will allow the EUR to collapse. At least not yet so whatever is done will allow the EUR to live to fight another day. Since there are so many shorts piled on the EUR, I expect a snap back as soon as there's some resolution...which will happen.

    -C

    ReplyDelete
  12. Transports starting to show life....wunder if it will lead into the close

    ReplyDelete
  13. Temo,

    Sprint is an excellent trade for past couple of days.

    Joe

    ReplyDelete
  14. Joe,
    It sure has been. I should have been more patient on that one. Oh well live and leearn.

    I saw and email from Sam Collins today saying now is the time to get into S. That could be the sell signal since he is always late to the party and misses more than he hits.

    I still think Greece will be bailed out and it will be the blueprint for the other PIIGS as well.

    ReplyDelete
  15. Haha with just a tad more information this would have been an actual news story!

    http://www.reuters.com/article/idUSN186393120100318

    Specifically:

    "Altria, which is not involved in the lawsuit and is the only tobacco company that backs FDA oversight.."

    If they'd just mentioned that Altria produces 50% of all cigs sold in the U.S., the wise might consider that Altria may not be merely "backing" FDA oversight, it just might be the driving force and sole beneficiary of nearly all tobacco regulation in the modern age.

    ReplyDelete
  16. Ouch, took it on the chin with slw today, but hoping to avg. down tomorrow, triple witching. How's everyone tonight? As you said, joe, the energies are holding up well, I have them for divis. Holding small position in S, too. - Nancy

    ReplyDelete