Sunday, March 21, 2010

YOU AINT SEEN NOTHIN YET update II

Jesse has a beautiful piece tonight that gives my insight with his inimitable stlye. Its a must read.

There are those who say that they very sure what is coming, what will happen, what the future will bring. For the most part they are speaking out of fear and false pride. The only certainty is that if they really knew what is going to happen, they would cast themselves down from high places in despair.

Grab something solid and hang on to it, and to the faith that sustains you. Do not be distressed if it feels as though the world has lost its reason, and is made blind, and all is deception and trial, for this is part of the process which has begun. If a war comes, then the world will lose its ability to reason in its temporary madness. We are in for a rough ride, and revelations of what is life and what is nothingness, what is true and what is false.


“When pride comes, then comes disgrace. But with disgrace comes humility, and with humility comes wisdom. The humility of the righteous will guide them, but the sly illusions of the proud will destroy them." Prov 11
People will ask, and I can only say that I do not know if this is the end time, as no one can know this. What does it matter, since surely we are all heading towards the last things and a judgement, at our own pace. But it may certainly feel like it is something more general, more momentous, at some point before our blasphemous generation puts itself back into balance with God and nature again, and the crisis has past.

As the song says, "You ain't seen nothing yet."

This is an excerpt ...I encourage you to read the entire link. gl

http://jessescrossroadscafe.blogspot.com/

update I thnx red

http://finance.yahoo.com/news/The-Gold-Standard-Solid-as-minyanville-2853017352.html;_ylt=A9G_RsUC2qdLFVMB4227YWsA;_ylu=X3oDMTFhcDRuYWZpBHBvcwMyBHNlYwNzcGVjaWFsRmVhdHVyZXMEc2xrA3RoZWdvbGRzdGFuZA--?x=0

update II in case ya missed this

http://temo1051.blogspot.com/

46 comments:

  1. Excellent read!!!!!

    This gives the reason why Mize is all wrong on his Japan II scenario for the US. When you are a debtor you are owned by the debt holder. Japans are internal the US is external.

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  2. I'll surely read the whole link soon enough, as I am an avid Jesse reader.. But that's not what I'm posting about.

    So the health care bill passed.. Now I'm no Fox News alarmist who thinks this bill is a big deal but.. Honestly I'm most suspicious of the conservative side here.

    Given that the individual mandate will increase demand but not supply for health care.. By making the "because it's covered" mentality nigh-universal.. I can't say what the effect will be on insurance corps taken by themselves but the effect on pharma-corps and the like can only be positive. No one cries corporatism? No one?

    Is full-on communism on Obama's part really the most creative motive anyone on the opposition can come up with? Does every last man on the conservative side really see Obama as a misguided robin-hood? Why is the focus on The Wizard of O.. er President Obama anyhow? Isn't it the congress who "wrote" this 2200 page mess?

    If the democrats in congress are lockstep socialists, how is that not a much bigger deal than one man?

    While the Fed, FDIC, and FDA are clearly in bed with enormous corporations, on Obama's watch, I'm expected to not only believe that Obama himself would NEVER help a big corp (because he's so "anti-business") but also that all of his opponents already believe exactly that?

    Maybe I've had too much wine and am on a tangent, but seriously.. I want to hear from any staunch conservative who will reply. What is so convincing that socialism is automatically accepted as the motive? That Obama (and every other democrat) are so "anti-business"?

    Exhibit A: Altria corp. is openly supporting the FDA in the escalating regulation of it's own industry. With a 50% market share this is blatant advancement of a monopoly. Why don't these dyed-in-the-wool "socialists" not put a stop to it?

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  3. Of course this bill is a gift to the health care corporate interests....And I can say very safely that the President is NOT a "socialist". He was obviously approved by the corporatists. I just hope this bill gives some relief to millions that are in desperate straits.

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  4. BUT WHYYYYYYY do they all think he's a socialist?! Please conservatives tell me! Because I think you're all crazy! (crazy is better than corrupt albeit not by much so wipe that smirk off all your Fox-watching faces)

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  5. Morla you know the answer....its the propaganda machine that limited intellects always fall for. Its how the mass's are controlled.......and it works. That is "the game"....but hey.....there is only one thing certain in life and we all will find that out.

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  6. Argh, does not having cable really make me this out of touch? How many times did you all hear it before you believed it? HOW MANY? Yea, too much wine for sure..

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  7. See ya in the AM ...gotta go and take care of another uninsured patient that couldn't afford preventive care now......dont know what this bill has in it for sure but the current system is immoral......and one way or another this has to change.....

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  8. Yeah I don't know particularly what's in the bill either.. Even if I were to begin reading it from the start noone could trust me to remember a meaningful porton of 2,000+ pages.. If you trust anyone that far we already have a huge problem..

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  9. Yes. It's corporatist. It's pro-business. Me thinks the GOP doeth protest too much. What Obama says it is; it is not. What GOP says it is; it is not. Truth lies somewhere else.

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  10. My wife is caretaker for a beautiful relatively healthy 92 year old lady. She recently had a mild stroke, and has subsequently been told that her cost for medication will go from about $4,000/yr to close to $20,000 for needed medication. I felt like crying, it broke my heart, and made me furious, and I had to stop thinking about it.

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  11. cbs - doesn't she have medicare part D? first portion is covered, then the donut (Humana covers the donut), then it's covered at 100%. I'm not sure what the numbers are but I went through this with my mother and most of it was covered. Hope she has an advocate who is looking at this for her. It's a nightmare dealing with it all, unfortunately don't think government is going to help with that issue. - sis

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  12. Temo & Analyze,

    See the gap in CENX, right at the open, very nice gap and it started to fill.

    Joe

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  13. Joe, I had to watch my monster gap fill on TNA, it very aggressively moved to fill but does not look like it wants an overshoot, so I closed it here. Gap trading skills are essential, especially on missed/bad calls like holding TNA overnight lol. Never again. Watching it here and will re-enter based on what it does. - Analyze.

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  14. "I have been making the point lately that people are wrong who accuse the Obama administration of being socialist. I take the president at his word when he says that he has no desire to own the automobile companies. Instead, he wants to control them—and the rest of us as well—through a regulatory apparatus overseen by czars and bureaucrats." -Larry P. Arnn, President of Hillsdale College

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  15. Analyze,

    CNAM is kicking ass again today, it corrected alomst 40% around 7 on Thursday, up Friday and today.

    Joe

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  16. Wow - I feel like there's some prick sitting over at GS aiming, taking out my stops EVERY FRICKIN DAY - before turning the market back around.

    Bought into DTO on Thu at $60.2. Off to a 2-day meeting, so I placed a $1.5 trailing stop. See the unbelievable dip at 2:20 last Friday (3/19)??? Those were my stocks being taken out at EXACTLY $63.4001 (and my stops were actually at $63.4). This is just crazy. And it happens over, and over, and over.

    (just found out when I opened my trading account)

    -wolfsonite

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  17. (correction: bought DTO on 3/17 at $60.28)

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  18. Nice gap filling in SWC as well. SWC as i mentioned since january has given the best gaps and continues to do so.

    Joe

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  19. Morola - "Yeah I don't know particularly what's in the bill either.." there in lies the problem, just what is in this 2000 + page legislative monster? No one seems to know other than the authors. Who exactly wrote this and how many "Special Interests" were involved, sooner or later the truth will come out but know this, the very people this is supposed to help will be hurt the most. BTW - Kli you'll be taking care of the un-insured for another four years..... Now back to the Casino

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  20. Joe, there WAS an overshoot on TNA, I may not be the best at judging this pos, I have not played it much. CNAM rocks. - Analyze.

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  21. Analyze,

    I personally stay away from 2X and 3X ETFs, you confront more manipulation and more decay than individual stocks. The only ETN I play with is DTO. Stay with individual stocks, today SWC and CENX gave gtreat gaps, when market at the open is only down 30 or 40 ( DOW) and only couple of points for S&P and individual stock like SWC or CENX down 0.70 or 0.80 that should tell you MMs will fill the gap during the day.

    Joe

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  22. Today is an excellent example of how GS and MMs fill the gap especially if you play commodity stocks like I do, text book on CENX and SWC.

    Joe

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  23. Analyze,

    $1 gap in CENX today, that's text book work by GS.

    Joe

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  24. Red,

    Today is the ALPO day, GS distributed alpo to some of the hungry hyenas, huge male lion ( GS) ate too much at the opening and opened up the gap for hyenas to feed on some ALPO.

    Joe

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  25. gotta love that alpo........eatum up

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  26. pulled some DTO off this am......on oil big move.....don't like the back over 80 action here close will tell.

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  27. kline,

    The blood thirsty hyena waited till that 550lb male lion (GS) ate his share and then then he charged right after gap turned, the meal was good enough for evry one, 2000lb buffalo. Female lions could not put up a good fight against gang banging hyenas right after male lion had his fill.

    Joe

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  28. Yep after some stop shopping GS does leave a little bit on the side for the hyenas and the jackals.

    As for someone mentioning stops on DTO, don't even bother trading it if you can't watch it especially on leveraged ETFs, stops will be intentionally take out before a reversal. Kind of the modus operandi for GS before allowing a reversal.

    For those on the slower swing trades, there should be an opening on the long side for oil (PBR) and miners after all stops are taken out and some fake "value" is created for the next leg up.

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  29. Off to the salad bar now......gotta digest the little morsel of red meat GS let me have

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  30. Wolf,

    DTO is a yoyo, it gives you some alpo but be careful due to extreme volatility of its nature. GS and MMs always try to take out stops on that one. The strong support still remains around 60 for that one.

    Joe

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  31. Joe CNAM and CENX both great plays. played a little THC on the healthcare bounce. all day trades.

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  32. Red,

    Did not trade PBR today but nice recovery from the huge gap down, low of the day 43.69 and now over 45 with heavy volume, NICE!

    Joe

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  33. trying to close the whole enchilada on SWC.....watta game....looks like DTO move was right

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  34. Thanks Joe. It's not like I lost money on my trade. Just plain p*ssed (and in awe) that they algos were able to produce a small intraday downward spike (to a completely arbitrary level mind you) that was aimed at taking out my stops. If I hadn't been in the green on my position, I wouldn't have let it sit unattended.

    -wolf

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  35. kli,

    Speaking of trading in the casino, check out what LVS is doing,wowww!

    Joe

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  36. Analyze,

    Are you trading LVS? I missed that one,should have kept it in my radar,oh well can't catch them all.

    Joe

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  37. March 17th...EWI...hmmmm...possible they get this one right...TexasBlondie..."A number of readers have pointed out the similarities between the market's moves from May 2007 through the October 2007 all-time high and the current environment, shown above. There are both quantitative and qualitative differences between the two periods but the form of the moves looks similar. The problem in fashioning some type of forecast based upon this similarity is that analogs always fall apart at some point and knowing when they will ahead of time is a challenge. Thus, if analogs are an indicant, they are coincident rather than leading. At the October 2007 peak, the DJIA had exceeded its July 2007 wave (3) high by 176 points, or 1.25%. A similar percentage today would target the area surrounding 10,864.00, but, again, this should not be taken as a firm forecast. A 3/5 (60% ) retracement of Primary 1 (circle) is 11,107.00, while a 61.8% retracement is 11,246.00. If the Dow continues to subdivide, the 10,864-11,246 area is the next potential stopping area."

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  38. Joe, no, missed it. Casinos were not on my radar, which is kind of ironic lol. - Analyze.

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  39. GDX sittin right on 50dma...just might pick up some steam next couple days but as Joe likes to day Total crossroads here.....

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  40. miners closed almost all the gaps.....hmmmm

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  41. Sorry Kli, I have been patiently waiting all day for the weekend anon poster to magically appear and help us unworthy peons take it the rear to the next level like he promised.

    Interesting article with a half truth here and a little white lie there. Half Truth - leveraged paper gold does fail and is no better than fiat, however Physical gold is neither. India and China still want more physical , higher central bank interest rates allow them to raise their reserves towards what Western Central Banks supposedly hold. Without the physical reserves the central bank fiats are worthless over the long run.

    http://finance.yahoo.com/news/The-Gold-Standard-Solid-as-minyanville-2853017352.html;_ylt=A9G_RsUC2qdLFVMB4227YWsA;_ylu=X3oDMTFhcDRuYWZpBHBvcwMyBHNlYwNzcGVjaWFsRmVhdHVyZXMEc2xrA3RoZWdvbGRzdGFuZA--?x=0

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  42. immred6...the asshole anon you mentioned is still looking for alpo with no luck.
    Jim

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  43. Jim thanks for posting......you had quite a saturday nite tussle....

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  44. kliguy38...fucking coward did not have the balls to post with his/her id. I enjoy reading and learning from you guys, your blog is great.
    Jim

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  45. Jim next time let Anon know how you really feel....hehehe.....you were right to insist he post with his name if he is going to challenge.

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  46. Kilguy, I visit often, but I think this is my first post. Your blog is great and so are some of your regular bloggers. Some scary crap in this article, hope you do not mind. Thanks
    http://www.traderview.com/tedbits/tedbits-Mar22-10.pdf

    Pzy5t0

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