Soros talked about the rally built on the false premise. Could this be one of those times.

The least popular option in yesterday's poll turned out to be the best choice for trading tactics.

Doc, I would add "All of the above" as an option.

Market back in bull market mode.
Closed above the 50 and 200 dma today.
This week, a lot of momo stocks broke out into new highs.

Credit to Bondtrader for buying when everything looks bleak 2 weeks back.

You know what I am excited about. In 8 days, I'll be headed up north to our home in Quebec to freeze our asses off for the holidays.

But I'm excited because these little folks will be there waiting for us.

Let me repost the link to a fantastic article about the mortgage stuff from a Kali broker.....

http://blogs.marketwatch.com/greenberg/200...rom-an-insider/

[attachmentid=93430]

Yep, stock charts are bullish right now, no question about that. Gonna ride it till I fall off.

I'd give more credit if he'd have explained why.

If you're bored, you can review my caustic interpretation of Bush's speech today:
http://debtpocalypse.blogspot.com/

I guess Paulson & Co. know that this plan will not fix the fundamental problem. So I guess the plan is really all about making up the inevitable losses with stock gains.

That's my grandson Nicolas on the left, and granddaughter Lea-Rose (pronounced leiah rose - be sure to roll the "r" ) on the right. For those of you who were not around last summer, they are first cousins.

I believe he was merely playing the support line.
If you think about it...did it matter if you bought at 1420 or 1430?

If the economy is so good, then why is this happening?

CFO.com | US
December 5, 2007
The weakening American economy is beginning to take its toll on corporate employees where it hurts the most: their salaries and savings.

The latest Duke University/CFO Magazine Global Business Outlook Survey, which polls 573 finance chiefs in the U.S. and 1,275 globally, finds that year-end employee bonuses will fall by 10 percent this year compared to 2006. That decline could be especially painful at a time when more employees are dipping into their retirement accounts in order to pay bills.

The survey finds that nearly 20 percent of companies have seen increased hardship withdrawals from 401(k) accounts, often to cover mortgage payments or to avoid personal bankruptcy.

"In the last four or five months we have seen an absolute onslaught of people trying to do hardship withdrawals and loans out of 401(k)s," Mark Anderson, CFO of Granite City Electric, told CFO magazine in October. "What has happened with housing and the economy has really blown up for people at the lower end of the spectrum."

Source

destruction of capital

raiding your retirement funds to pay for a home that is falling in value is a classic desperation move. As the home falls more, the owner's capital is being destroyed.

he posted a chart that backed up his position

"Second, in August, I asked Secretaries Paulson and Jackson to work with lenders and loan servicers and mortgage counselors and investors and lions and tigers and bears "

What will paulson do when this chart blows up?

For those of you who were not around last summer, that's my grandson Nicolas on the left, and granddaughter Lea-Rose (pronounced leiah rose - be sure to roll the "r" ) on the right. They are first cousins born 6 weeks apart.

Good thing they're not living in Arkansas, or they'd be betrothed.

Although human cloning is forbidden...Paulson will begin cloning this tree and handing it out to all hoe-moaners....

[attachmentid=93433]

You beat me to it!

Hey Congrats DrS. How old are they?

What did you get them from Goodwill this morning?

Hey, he got them NEW stuff from the Dollar Store ! ! ! !

Incredible. As stocks fly, swap spreads were unchanged and ABX indexes actually fell today.

So if pigs are flying, what kind of animal are the spreads and ABX?

Unemployment report tomorrow.
Talk'n about lining up the stars here for the bulls.
If it sucks, the market should rally because this will confirm the .50 cut.
If it's good, the market will rocket up because the credit problem is not spilling over to the rest of the economy.

i picked a nice bottom on evertything i touched this week.but hidered myself with my covered call strategy.

i hope this lasts,at least on my wynn position.it popped almost 3 bucks at the end of the day.if it sees 130 anytime soon i might bail,covered calls or not.

i never seem to hold my covered call plays till expiration,which is probably stupid in most cases.i wish i had patience......bad trait for a trader



i almost went short the other day.......thought better of it with help from doc on wse pro......thanks doc,it has been a help lately.

4 months and 3 months.

First came housing loans and the subprime-mortgage crisis.

Now, signs of stress are creeping into another key consumer area: auto loans.

Delinquencies in the auto-loan market are ticking up to their highest level in several years. Lenders are tightening terms in some cases, and interest rates have risen from the rock-bottom levels of a few years ago. About $575 billion in loans for new and used cars are made annually, according to the National Automotive Finance Association.

About 4.5% of auto loans made in 2006 to top-rated borrowers were at least 30 days delinquent as of the end of September, up from 2.9% the previous month, according to a Lehman Brothers survey of companies servicing these loans. That is the biggest one-month jump in at least eight years. Lehman says 12% of subprime borrowers, who have poorer credit records, were delinquent on their 2006 auto loans as of September. That is the highest level since 2002 and up from 11.1% the previous month.

"The numbers will get worse for auto loans," says Dan Castro of GSC Group, a New York firm that runs debt-related investment funds. "We're starting to see signs of rising losses, and delinquencies are creeping up."

Don't fear the repo man!

I wanted to see what kind of weird thing you'd come up with, but you outdid yourself.

Although I do have a certain fondness for this little masterpiece of yours:

And then there's always

this is like some bad movie script...National Lampoons Sub Prime adventure.

Chevy Chase can play President Bush.

Bush sells homeowners dummy number

US homeowners who could face crippling mortgage payments will have a hard time getting help if they call a telephone number President George Bush recommended today - he gave them the wrong number.

"I have a message for every homeowner worried about rising mortgage payments," Mr Bush said. "The best you can do for your family is to call 1-800-995-HOPE."

http://business.theage.com.au/bush-sells-h...71207-1fjv.html

How about this guy.....

[attachmentid=93437]

Should pop along with the market after rate cut.
Maybe buy some Dec 105 calls?

it is amazing how the most ardent, so called capitalists are the biggest welfare recipients.

Here in OZ we are 18yrs into the biggest boom this country has seen and the car industry still has their hands out for more money.

God help us when the boom turns to bust.

Dear Kev, please fix my car


KEVIN Rudd had not even been officially sworn in as Prime Minister before the car industry fired off a letter asking the Government for a lifeline.


http://business.theage.com.au/dear-kev-ple...71206-1fg4.html

Any guesses out there as to how long this rally goes on for?

Until every last bear is dead.

You have got to be kidding.

I'm long Dec $4 calls on this. All I want is a quick pop to $6 before expiration.

I bought March-dated puts today, so I'd say until April.

Expiration? You, or it?

I wonder what number that actually is? It would be hilarious if it were a porno number, or astrological advice, or something like that.

Please tell me that wrong number thing isn't true

Okay, it's not true.
but actually it is

I just HAD to call.... "the toll free number you have called is not toll free when dialed from abroad" ...then it just goes dead.

No....no....they'll leave a single bear alive.....

[attachmentid=93441]

2 weeks after the fed meeting....

Say, does anything important happen on that date?

Next week....

something has changed.

Here we are in the midst of a searing rally and we bears are laughing and joking.

In the old days posters like Soup and co. would be suicidal.

Maybe we have mellowed..