Monday, August 8, 2011

TRICHET BRINGS OUT THE BAZOOKA




Where have we heard this before. What an unfortunate choice of analogies. Trichet announces the ECB will begin to buy bond of the big PIGS ...Italy and Spain...in his "bravest attempt yet". The Krauts wouldn't go for it, so the monetization of the debt begins....

Because the ECB will have to spend considerably more to have an impact on the bond markets of the euro area’s third- and fourth-largest economies, it may not be able to continue to sterilize its purchases by absorbing the equivalent amount from banks via term deposits, said Carsten Brzeski, senior economist at ING Belgium in Brussels.

That would amount to swelling the money supply, or quantitative easing, which may in turn fuel inflation.

“I don’t think that very large volumes -- like 50 billion a week -- can be sterilized,” Brzeski said. “Then they risk throwing their very last principle overboard.” from Boomberg.

http://www.bloomberg.com/news/2011-08-07/trichet-draws-ecb-bazooka-to-stem-contagion.html


As this post is assembled gold is exploding in the futures....up over 1700 and headed to the angel 1764 breakout to the moon. It is the beginning of the end for us but no one cares other than a few of us that are engaged. Most people are asleep and unaware of the unfolding tragedy. If you live in Japan maybe you are aware of what hell looks like as rice went limit up over the reactor fallout contamination. Anyway pay attention to the miners and PMs...most of my tail touches from last week were achieved intraday on Friday but I am going to post some wish lists below. All of you be aware CONfidence is now irretrievably lost with investors......the game is over. Now is just a matter of trying to find some traction and destroy the shorts and reinstitute QE 3 ...probably mention of that on Tuesday's FOMC announcement....enjoy....we WILL make it through.

HUI....495 is a monster support they already touched 512 on Friday IT MAY HOLD IF IT DOES you may want to add.

SLW did a tail touch of support at 32.50 and shot off hard Friday ...the 30 support is also a monster

SSRI has monster support at 24....

AG...wow all the way to 16 for big support...

ANV ....solid support at 29...will it??? could it??

HL ......looks pretty close to finished at just under 7...also bounced hard Friday

RIC .....gotta hold 6.5

EXK... needs to get to and hold 7.6...puleeeze

GPL...pleeze tag support at 2.6 but I doubt it breaks 3

LNG...squeeze at 6...and ...5....you need to watch if 7.50 holds tomorrow......

ALU...3.11...2.75

NBR...16.94 for a bounce

LDK... 5.10 for bounce and 4.10....

LLEN...2.48

gl and buy your physical gold and silver....oh ...and don't forget the Alpo.....

137 comments:

  1. Alpo Chop House Style - while supplies last

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  2. EUO up pre-market. I was hoping to get a nice entry...still going to nibble I think...

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  3. 7.50 not holding in LNG....may get my 6 area for buy for bounce

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  4. EUO not tracking $XEU well.......heheheheh.....typical in these type of market situations....

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  5. HOWZ it feel trading the BEAR of all bears gang.......kinda FROZEN aren't ya?........hehehehehe.......probably should be VERY cautious here until tomorrow....FOMC

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  6. Kinda funny you mentioned "FROZEN" Just mentioned to the Mrs's a little while a go ain't sure what to do here......

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  7. money flowing into miners now.......see if they are green in a blood red day......that is VERY telling

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  8. RWM good trade, in at 34.25 and already up 0.50, the current market is excellent for intra-day trading!

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  9. MARKET BLEEDING HEAVILY now down 300 and miners staying strong now.....hmmmmmmm

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  10. TOM as Joe mentioned......this is where good traders can make money but if you are not a good trader it can WHACK you.....be very careful ...I'm nibbling on miners....heavy in euo and just hoping we get another bloody red day tomorrow.....

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  11. i nibbled on gpl and ssri.....and pslv

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  12. RIC now running......good one JOE!

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  13. WOW...going for 1150 on sp.....wow...naz down 100

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  14. As I mentioned yesterday Russell2000 short is a good bet and it's paying off nicely today thru RWM. Gold and silver stocks continue lagging the physical itself because hedge funds are selling their winners which is Gold/silver stocks. In the current BEAR market shorting Russel 2000 ( RWM) pays better than Gold stocks.

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  15. The carnage on SGY, ATPG, GMXR, and LNG continues, I have 20 shorts going today for trade, beautiful day, heheeeeeeeee!

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  16. Calls to broker......."GET ME OUT...JUST GET ME OUT NOW"....

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  17. In the bear market kli, focus on RWM since you do not short individual stocks. RWM is short index for Russel 2000. It's not double short index which means you do not have to worry about DECAY much, it gives you nice return in down days, even on Friday when market finished up RWM was doing well. I got $1 upside from it today * number of shares.

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  18. Twenty Shorts WOW now thats impressive! No plans for shorting even though thats were the $$$ is now, just looking for a tradable bottom.

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  19. i'll enter RWM after the next bounce....

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  20. Tepper just took it up the azz on BOA.....

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  21. Apparently, the downgrade was not "priced in".

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  22. mornin wilks.....EURO zone is driving this as their banks seize up.....classic Run on the banks......with no intrabank lending...liborspiking

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  23. EXK bouncing strong. Haven't grabbed anything yet.

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  24. Hey Beetle... Did you take my Saturday advice on BAC? If you did, you are a very rich man right now :) It's currently down 14.2% :) Steak for me tonight!

    Dung_Beetle said...

    Hi Kli,

    Any suggestion on possible shorts?
    August 6, 2011 12:00 PM

    Jay said...

    KLI: I really appreciate your insight. You cut through the BS and give us more facts in one column than we get watching 3 hours of CNBC.

    Dung: BAC looks like a prime target for shorting. Down 8% on Friday on triple the normal volume.
    August 6, 2011 2:38 PM

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  25. Picked up some Exk this am that's bout it......

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  26. No Jay I didn't. I do appreciate your sage advice though…

    Fear got the better of me again. I just couldn't pull the trigger. I'm doing a lot of window shopping these days, but no buying or shorting.

    I Almost bought SLW today, but didn't have the nerve for that either.

    Going backpacking out west for 3 months and leaving in a week. I don't want to lose my beer money.

    I need a good stock for the trip, one I only have to check once and a while; hopefully one that will pay for the trip.

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  27. Dung,

    If your hiking any back country here's my good tip, Have plenty of Bear Spray they seem to be hungry these days.... Have Fun!

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  28. sage advice Dung......buy more gold amd alpo...you can dip in ssri just dip

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  29. Obama on......basically saying we are foched gold now up 70bucks

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  30. No no no - He said these problems are eminently solvable as long as lines aren't drawn in the sand...

    And then I fell asleep...

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  31. I guess nature is drawing a line in the sand

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  32. 2+2=4 is a line in the sand I agree with

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  33. Red your 1130 broke.........weeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee

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  34. miners bleeding now......its a massacre

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  35. BAC -19%

    Swimming in RED!!!

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  36. watch for the "news trigger" in the last hour....

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  37. it might make a nice quick hit on the long side...

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  38. GPL at $3 again
    EXK bounced at 8.50
    LDK not bouncing and at 4.75

    I think I will go short steak and fine wines

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  39. Jeez I think Obama should have stayed on the Golf Course.......

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  40. ABAT delays earnings til tomorrow? Ah well probably a better day for it anyway.

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  41. Guess the 1130 bounce was dismal, next up is Joe's target on the S&P. If that fails downside for this part of the roller coaster is 850 on the S&P.

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  42. dunno red......its up to 1151 now....pretty good bounce.

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  43. dip to 1119 was hedge fund margin calls according to Joe's level 3

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  44. SPX......1050..now in play near term.....gl

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  45. All,

    Market is talking clearly and loud enough when it comes to physical Gold. The message is give me physical gold because I see deflationary collapse, not stagflation as end game. If this was stagflation now, Oil would not take a beating and would have been up over 120, and also miners would have been higher than where they are now, the fact that miners are lagging way behind physical and oil take a beating talks clearly. Most people always thought Gold does well during inflation or stagflation, now they are going to get a real lesson on value of physical Gold during deflationary environment.

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  46. Joe, isn't cash also a good asset during deflation!? Or will a collapse in the dollar hurt its value comparatively to other currencies?

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  47. My BAC short did nicely today. A few more days like this and I can quit my day job.

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  48. A few more days like this a whole lot more folks may not have a day job........

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  49. won't QE3 turn it back into stagflation?

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  50. Ken,

    Any form of QE3 impact on commodities outside of Gold ( Gold is playing currency role now and not commodity) would be short lived because of debt and credit crisis and as a result supply and demand issue, any form of stagflation can not live long when you have high unemployment, debt crisis, housing crisis,,etc. Physical Gold is the only real deal which does well during stagflation as well as deflationary environment. Governments can print money as much as they want to but the sunami of debt is lot more overwhelming than whatever they do with money supply, the social mood also takes over which reduces the velocity of money regardless of print. If Bernanke comes in with QE3 in the form of buying equities, this time around would bring the DOW up 1500 to max 2000 in best case scenario from where we set bottom and then the deflationary hell continues.

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  51. It would have been best to use QE to pay down peoples mortages....but that would never fly. Too many would be angry that those stupid enough to be in debt were given money. So by doing what they did with QE, they simply helped those that were big enough to demand it and manipulate the public discourse into thinking it was good.

    just my little opinion.

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  52. QE had a dual purpose....it was to recapitalize the EURO banks and for the primary dealers to prop the market while maintaining low rates...(nice trick).....but paying off the mortgages was never possible....and would have opened up another can of worms of moral hazards...pardon the mixed metaphors.

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  53. "If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered...I believe that banking institutions are more dangerous to our liberties than standing armies... The issuing power should be taken from the banks and restored to the people, to whom it properly belongs."

    -Thomas Jefferson

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  54. I know this will be perceived as a "Dumb A$$" question but where do we go from here? If QE's will only have a marginal effect and everything else is unraveling?

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  55. Ken said...

    It would have been best to use QE to pay down peoples mortgages.


    So give free money to losers that bought $300,000 homes with their minimum wage jobs and F the rest of us. That sounds real fair. Screw the responsible people, reward the irresponsible people.

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  56. Tom: One thing they could try is free market capitalism. It's done well in the past.

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  57. Well didn't we get screwed anywaywhen they gave the $$$ to the banks? At least if you follow Ken's logic the banks end up with the $$$ and a satisfied debt. TheCONSUMER gets a pass on their mortgage so you free up "CONSUMER CASH". You know we are a Consumer Economy after all.....

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  58. Jay,
    I may be Novice Trader but I KNOW what I see and there ain't been NO Free Market Capitalism going on for a very long time.......

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  59. tom.....picking the mortgages to help is frought with moral hazard....they tried it.....let the savers that want to get into the market at a better price do it.....crash um.....that is free markets at work

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  60. Isn't this a currency crisis hence the gold skyrocket? And won't we somehow default? Sorry, been away...what a day to return! I thought they'd crush the bears for a while longer, looking like the top is in. Maybe the top for 20 yrs.

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  61. You mentioned Moral Hazard..... hehehehe

    http://www.zerohedge.com/news/senate-probing-sp-downgrade

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  62. Nancy,

    This is DEBT crisis resulting in currency crisis due to central bankers response to the issue of debt & credit. Flooding the world with print money in order to deal with debt or the illusion that printing without actual solid economic production generates economic prosperity just intensifies the end game which is severe deflationary flood .

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  63. Just to be clear, I agree with Kli that paying off the mortgages would be bad wrong, I just pondered if it would have been a better solution than the one chosen.
    I just refinanced my mortgage today. went from 5.2% to 4.3% and jumped back to a full 30 years from 22 years, giving me a lower interest and options to pay less per month if things get tough.

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  64. I think rather than give it to the banks to do overnight loans to the fed...maybe "helping" the losers would not have been a bad thing. First, we ended up owning most of the bad loans so it really would have helped us. Second, and I am being simplistic, you could use the money to ease the payments from the losers. Is there some way to use the money to actually make the payments reasonable. Remember, many of these loans were made to losers, but also accompanied by lies. Sell sell sell was the mantra. Deregulation let it happen, opened up the ability for the grifters to tap the stupid. All laid at the feet of "deregulation".

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  65. Jay,

    The direct Quote from Thomas Jefferson is VALID and that is going to trigger an important question to you, the purpose of the question is not to be little you or any one else on this board, just curiosity to hear your reasoning, here is the question and i appreciate an HONEST response without ego:

    Why have you ever voted in the past, whether it's republican, tea party, or democrat? The only time it seems reasonable to vote would have been if these so-called political parties were independent entities without control from bankers, corporations, and special interest. Only then one could claim that one party is lesser of two evil. Political parties do not run based on public financing either which means they are controlled.

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  66. By the way Jay, I put the same question to two people outside of this board and they were both HONEST. One of them said, " For greed and individualistic reasons including less taxes", and also he admitted he likes power and domination. This guy was rich. The other fellow was struggling economically but considered himself very conservative with emphasis on cultural, and social issues important to him including gay marriage,,etc and that's what drove him to vote for a party.

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  67. Tom - where do you think the FED is getting the $s to recapitalize the banks. It is not from the losers over their head in debt. It is from people like me. I get very little on my savings (someting like $500-600 a month less than say in 2005-6 on a larger amount).

    Any way you look at it the extremely low interest rates are a hidden tax on savers. So you are saying in addition to screwing the responsible with extremely low rates on their money we should also have them bail out the irresponsible by paying off their mortgages?

    As Joe has repeatedly said - if people don't care enough about their own self interest to exercise their self awarness then screw them. Joe - hope I am paraphrasing you correctly.

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  68. You already know my answer Joe. I have neither voted for any of the major parties or the tea party in the last couple elections at the national or state level. I write in my choice which is usually out there, the reason is to not let the apathy and cynicism overwhelm my perspective of the world and my functionality in it. Is there hope for the this cycle? Probably not.

    As for the markets, not the end yet. Need another red candle to confirm the puking.

    The price of essentials (oil and food) needs to be brought down quickly, even if it's an interim action or what you see happening in London will quickly spread throughout Europe and the US.

    As for stock shopping list when everybody pukes it up. Physical gold and silver are to be owned and not to be traded at this point.

    Joe's mainstream picks are as good as any.

    ALU ATPG LDK

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  69. Inlet,

    correct, I finished it by mentioning that also self-awareness not only results in better decision making for one-self but also it ripples thru others which is the key to having a better and healthier society. It's not realistic to ask one to be completely selfless and at the same time it's destructive to society if all one cares about is himself/herself. I have always been a strong believer in individual liberty followed by accepting responsibility for one's action.

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  70. This board is becoming very informed ....as we go into this abyss your very philosophical foundation will come into question.....maintain your ties to your families and friends and try to help....we are now entering a rough few years....

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  71. Joe,

    I vote for candidates that I agree with on key issues regardless of party or no party. I actually spend quite a bit of time researching candidates from the President right down to the city council level. If all of the candidates look horrible, I just leave it blank.

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  72. Red,

    Keep PAL in your radar as well, it's starting to get real cheap and it will move with market once the squeeze starts.

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  73. Today was the work of Satan - look at the S&P down 6.66%. Hehehehe

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  74. Jay,

    The response you gave me is what the system repeatedly has encouraged one to say, you did not respond to my question, what are the key issues that's specifically important to you and how those whom you voted for in ACTION have satisfied it? For the record the only time I have voted was for Ron Paul, never voted for any one else or any party due to awareness of what Thomas Jefferson said. The first time I became aware of the quote from jefferson was when I was 16 yrs old and I am 56 now.

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  75. "the greatest trick was to convince the "more informed" voter that they were voting for the lesser of two evils"......anonymous black op.....

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  76. I voted for Reagan. I believed in the return to a minimalist federal government. I regret not voting for Ron Paul but had become so jaded, just couldn't get the energy to go. My disappointment came when always watching these jokers say promise one thing, then cave to party/lobby/donors on some issue.

    I do have to say I grew weary over the years at people being angry at me for not voting. Yet many vote simply by party, BS they believe, etc. I stopped asking the question, who did you vote for 2 years ago and why. Did they do what you said they would do? Answer was ultimately...better him than the other guy. Most elections are won from fear, last one was kind of refreshing...

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  77. I should qualify that as presidential election. Most folks just pull the lever based on I don't know what when it comes to congress, state, local...

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  78. Homer,

    Fine, your response to your intentions and expectations whether for self-interest reasons or other agenda is specific which is what i was asking. Thanks for responding!

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  79. Inlet,
    You and Kli misunderstood my sarcasm, I don’t believe in bailing any one out for any poor decision they have made intentional or otherwise. However there is reason to care for people that are in genuine need and I am all for that. I have never asked anyone to fix or bail me out of any of my stupid decisions and I have made plenty and paid for them!! Joe has mentioned many times that we as a society have been living beyond our means and he is correct it took me a while to understand what he was saying but I understand now. After a sale of my last business I had planned to live off of the interest on the proceeds and you know how well that worked out. You have pointed out so many times “We are getting screwed as savers with the artificial rates. My point was purely sarcastic that everything is artificial so why not bail out the little guy.

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  80. Just to chime in, for most of my life, I took the elections very seriously--ie., watched the debates, read various newspapers, tried to keep an open mind. I have made it my duty to vote.

    But admittedly, at least over the last several elections, it didn't seem to matter which candidate actually won. As for the Presidential elections, we really only have "Red States" and "Blue States". The chance of an outside candidate actually winning is virtually nil.

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  81. Yet we've actually bailed out the criminals, the entire mechanism that was in force, selling mortgages to what amounts to gullible people. I'd rather bail out the ones who were stupid, than the criminals who caused it. Yet we saved the criminals. There's no right or wrong, the real people that caused it were actually the ones making the decisions and the people looking the other way while that was happening. Our elected government and their appointed officials.

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  82. Sorry - forgot to finish, once the rules were relaxed, they're really not criminals. If you tell a bank to go ahead and do something stupid to make money, its almost a crime to the shareholders if they don't. Social responsibility is no longer a part of corporate life (IMO).

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  83. Nikei cracking up.....oil commods still going down......gold up 15 bucks.......hmmmmm methinks more blood tomorrow.......hehhehe......gl tomorrow gang.....get your list ready......don't be a pussy

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  84. Kli,

    Were you watching me trade today? hehehehe

    Recovering Republican :)

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  85. We get very few opportunities to experience blood in the streets. I was talking with Joe and when we do catch the next bottom the squeeze will be tremendous.....This is a tradable bottom meaning that it will be at least a two week hold for trades like PAL....ALU etc......I'll post some support levels to prep for......you may get um you may not.....

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  86. euro QE intervention doing NOTHING for our futures....SnP now 1098.....

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  87. I always voted for the one I thought would make government smaller. I have been disappointed a lot. My philosophy was that government was inefficient. Resources should be in the private sector.

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  88. Reagan said that was his philosophy yet his administration expanded government AND the deficit more than the dems preceding him......yes he "believed" his schtick but he his ACTIONS said otherwise.....quit buying their BS......look at WHAT they actually do.....sure he dismantled the air traffic controllers.....all symbolic ....but as long as we as "voters" participate then the game goes on......BTW gang SnP support at 1040-1050 now....gl

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  89. For instance....today Leon Panetta presided over a service(photo op) for the fallen seals.....in his brief piece he spoke of dying for "the cause".......Can ANY of you tell me what "the cause" is that is worth shedding our boy's blood in that sand and our nations' treasury....tell me...seriously I know a lot of you supported these ACTIONS. So if you keep falling for the spin there will never be a change.......never

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  90. You guys should have voted for Perot - he told you the truth about the sucking sound. That is one of the very few times I remember someone running for president telling the truth. Hehehehe

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  91. Inlet: I did vote for Perot.

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  92. Joe: I went to see Ron Paul speak before the '08 election. I agreed with him on many points. Leave the UN. Get rid of the Fed. Get the government out of our lives.

    I would have voted for him if the GOP nominated him.

    The only thing that concerns me about him is his isolationist foreign policy.

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  93. Reagan was the first one to truly disappoint. Government did not get smaller, I got sadder. Perot...one word...Stockdale.

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  94. Reagan was not a fiscal conservative. Clinton was more fiscally responsible than Reagan.

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  95. lol - too true. Yet Clinton (IMO) was the one most responsible for releasing the banks and other scum from the regulatory bonds that would have prevented/softened what happened. Rubin, Summers, Greenspan, Gramm...

    Let these "professionals" work unfettered!!! LOL....

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  96. Now futures -221

    Are we really going to see a Great Depression 2 just like this blog is named?

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  97. According to Rubins book ...Clinton was set down in a meeting with Greenspan Rubin and Summers(i think) after he was elected. Rubin goes on to explain how the had to give Clinton the "facts of life" and how the "system" runs and how all of his campaign promises to the little people would have to be modified.....hehehehhehehe.....he basically told Clinton who REALLY ran the show.....Read Rubins book

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  98. Should we...yes, will we...no. They will QE3 and support, kick the can, kick the can. This should have been over 3 years ago, free enterprise my butt. Would have hurt pulling the bandaid back then but the more they prop it up, well...you've been around here long enough...

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  99. Jay SERIOUSLY????......do you really think there was an alternative to 1.25 QUADRILLION in a derivative black hole.......c'mon man....

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  100. ALL of you......don't worry....theyve got more chewing gum coming up for your trades but they don't have ANYTHING for the people out there in the real economy....RIGHT NOW 4 cities in ENGLAND are in full riots.....they are on the streets.....you want hell ....you're going to get it......it WILL affect us all.

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  101. If getting the book puts one red cent in Rubin's pocket then I can't do it.

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  102. http://www.thestar.com/news/world/article/1035994--u-k-police-arrest-225-after-rioting-in-london-spreads-to-3-cities?bn=1

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  103. Thanks for response Joe and welcome back...in Charlotte, we've had two small riots lately, most recent on Friday during flooding, looters all over the place, 3 drowned trying to escape arrest. I voted for Ron Paul and do vote locally, selfishly to keep taxes lower...but they pass crazy projects even tho rejected by voters.e.g., NASCAR Hall of Fame which no one attends...Dem Convention here next Sept...I'm oot if at all possible. Could be some bigtime riots then...I don't wanna ba a witness.

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  104. Saw that Leon Panetta show, it made me sick Kli. Joe knows my feelings on that. What they dies for I'll be d---d if I know. Same with my age group in Vietnam.

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  105. Typing tonight sucks...need some sleep. Thanks for all the input and suggestions.

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  106. FUTURES

    DOW: -290
    SnP: -29
    Nasdaq: -57


    This is the real deal. In 2008, they had TARP. Now they have nothing.

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  107. Futures down300......FEAR TERROR FEAR....should be a trade if you are lucky tomorrow

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  108. How about this scenario - Futures continue to crash after 8AM tomorrow and Obama shuts down the markets prior to 9:30 opening. I do recall the markets being closed for a few days after 9/11 so it could be done again...

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  109. Andy: The Russians did that quite often in '08

    Then they'd re-open the markets with days of pent up losses.

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  110. Night before means nothing...what are the overseas markets doing? That's right, I am so lazy, I'm getting another drink instead of looking myself (on vacation)...

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  111. Andy......good prediction....probably will try a rabbit first....rumor float in premarket....to hold off till FOMC pump

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  112. KLI: If we are heading towards another Great Depression:

    1. Will this affect us personally? Will we have to change our lifestyles if we are middle class and currently have a job?
    2. Can this be fixed structurally?

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  113. Kliguy38: I just realized the markets have something called lock limit down, I don't know what the criteria is but it may be >10% fall. If so, Obama wouldn't have to do anything.

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  114. Question#1
    Yes it will and it won't be pleasant, Live smaller if you haven't already & Repeat: "A few more days like this a whole lot more folks may not have a day job........"
    Question #2
    NO not without a rest of some sort and thats above me as to what that answer is.

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  115. "reset" not "rest" but thats just what I'm gonna do! eye's bugging out from reading history in the making.......

    Good Night All

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  116. Tomorrow is Custer's last Stand.....they are circling the wagons tonight with all the Central bankers and preparing for Europes opening......first probes will be Rumors through our pre market on what Ben will do with the FOMC....money markets are seizing up so my guess is Ben will be forced to come out before noon and announce intervention......it could be before the market opens......there is one BIG PROBLEM.....are there really enough shorts to move on???? I think not. They are in trouble.

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  117. Good Lord, what a day, and what a past couple weeks! This blog has been my #1 destination, but I cannot post from work, so unable to join the discussion during the day. Kli, it's because of this blog that my portfolio has been essentially flat and spared most of the mayhem. Been mostly cash, some shorts, and miners which have held up well.

    What are your thoughts on the squeeze? Today did not feel like capitulation. Could we get it tomorrow? I'm waiting for some quick trades to take advantage of the relief rally before the downtrend resume again.

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  118. Yikes - overseas are not doing well at all...

    hey bud - do a tunnel to your home router to stay secure...will post instructions if desired...

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  119. working on post for tomorrow bud....hang in there....

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  120. Yes I see cities in the UK are burning, whatever they were angry about in the first place it looks sadly like the hooligans have taken over.

    Large protests continuing in Tel Aviv over costs/standard of living, a tent city is growing up on Rothschild Boulevard.

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  121. Pure slaughter overseas, gold at $1757!!!!

    US Futures have recovered a bit, so anything can happen tomorrow.

    Homer, if you have the instructions handy, I'd appreciate it. Otherwise, I'll dig that stuff up myself.

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  122. $1760, down from a high of $1762.90. I can't believe what I'm seeing.

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  123. believe it.....this is the beginning ....new post in 30min

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