Yes indeed, but having a few snags getting the network all set up, so I missed the market today. Why don't you fill me in!
3-4 feet of snow on the ground here! Beautiful!
Full Version: Is there a doctor in the house?
Stool Pigeons Wire Message Board > Stock Market Message Board > Mark To Market - Stock Market Message Board
Wow, did I miss a big intraday swing today or somethin? 
All bad ticks get revisited, right...
All bad ticks get revisited, right...
QUOTE(DrStool @ Dec 18 2007, 03:58 PM)
Yes indeed, but having a few snags getting the network all set up, so I missed the market today. Why don't you fill me in!
3-4 feet of snow on the ground here! Beautiful!
3-4 feet of snow on the ground here! Beautiful!
Diary Of A Snow Shoveler
December 8: 6:00 PM. It started to snow. The first snow of the season and the wife and I took our cocktails and sat for hours by the window watching the huge soft flakes drift down from heaven. It looked like a Grandma Moses print. So romantic we felt like newlyweds again. I love snow!
December 9: We woke to a beautiful blanket of crystal white snow covering every inch of the landscape. What a fantastic sight! Can there be a more lovely place in the Whole World? Moving here was the best idea I've ever had. Shoveled snow for the first time in years and felt like a boy again. I did both our driveway and the sidewalks. This afternoon the snowplow came along and covered up the sidewalks and closed in the driveway, so I got to shovel again. What a perfect life.
December 12: The sun has melted all our lovely snow. Such a disappointment. My neighbor tells me not to worry, we'll definitely have a white Christmas. No snow on Christmas would be awful! Bob says we'll have so much snow by the end of winter, that I'll never want to see snow again. l don't think that's possible. Bob is such a nice man I'm glad he's our neighbor.
December 14: Snow lovely snow! 8" last night. The temperature dropped to -20. The cold makes everything sparkle so. The wind took my breath away, but I warmed up by shoveling the driveway and sidewalks. This is the life! The snowplow came back this afternoon and buried everything again. l didn't realize I would have to do quite this much shoveling, but I'll certainly get back in shape this way. I wish l wouldn't huff and puff so.
December 15: 20 inches forecast. Sold my van and bought a 4x4 Blazer. Bought snow tires for the wife's car and 2 extra shovels. Stocked the freezer. The wife wants a wood stove in case the electricity goes out. I think that's silly. We aren't in Alaska, after all.
December 16: Ice storm this morning. Fell on my ass on the ice in the driveway putting down salt. Hurt like hell. The wife laughed for an hour, which I think was very cruel.
December 17: Still way below freezing. Roads are too icy to go anywhere. Electricity was off for 5 hours. I had to pile the blankets on to stay warm. Nothing to do but stare at the wife and try not to irritate her. Guess I should've bought a wood stove, but won't admit it to her. God I hate it when she's right. I can't believe I'm freezing to death in my own living room.
December 20: Electricity's back on, but had another 14" of damn snow last night. More shoveling. Took all day. God damm snowplow came by twice. Tried to find a neighbor kid to shovel, but they said they're too busy playing hockey. I think they're lying. Called the only hardware store around to see about buying a snow blower and they're out. Might have another shipment in March. I think they're lying. Bob says I have to shovel or the city will have it done and bill me. I think he's lying.
December 22: Bob was right about a white Christmas because 13 more inches of the white $hit fell today, and it's so cold it probably won't melt till August. Took me 45 minutes to get all dressed up to go out to shovel and then I had to piss. By the time I got undressed, pissed and dressed again. I was too tired to shovel. Tried to hire Bob who has a plow on his truck for the rest of the winter; but he says he's too busy. I think the a$$hole is lying.
December 23: Only 2" of snow today. And it warmed up to 0. The wife wanted me to decorate the front of the house this morning. What is she f-ing nuts!!! Why didn't she tell me to do that a month ago? She says she did but I think she's lying.
December 24: 6". Snow packed so hard by snowplow, l broke the shovel. Thought I was having a heart attack. If I ever catch the son of a bitch who drives that snowplow, I'll drag him through the snow by his balls. I know he hides around the corner and waits for me to finish shoveling and then he comes down the street at a 100 miles an hour and throws snow all over where I've just been! Tonight the wife wanted me to sing Christmas carols with her and open our presents, but I was busy watching for that goddamn snowplow.
December 25: Merry Christmas. 20 more inches of the !=3D@x@!x!x1 slop tonight. Snowed in. The idea of shoveling makes my blood boil. God I hate the snow! Then the snowplow driver came by asking for a donation and I hit him over the head with my shovel. The wife says I have a bad attitude. I think she's an idiot. If I have to watch "It's a Wonderful Life" one more time, I'm going to kill her.
December 26: Still snowed in. Why the hell did I ever move here? It was all HER idea. She's really getting on my nerves.
December 27: Temperature dropped to -30 and the pipes froze.
December 28: Warmed up to above -50. Still snowed in. THE BITCH is driving me crazy!!!!!
December 29: 10 more inches. Bob says I have to shovel the roof or it could cave in. That's the silliest thing I ever heard. How dumb does he think I am?
December 30: Roof caved in. The snow plow driver is suing me for a million dollars. The wife went home to her mother. 9" predicted.
December 31: Set fire to what's left of the house. No more shoveling.
January 8: I feel so good. I just love those little white pills they keep giving me. Why am I tied to the bed?
here is an example of the thinking in OZ.
Most folks here think that the 'sub prime' mess is a USA specific problem.
They believe that our banks have no exposure to the US problem.
That may be true, but thats not the point.
Our lending in OZ has been as lax as anyone elses.
We have been lucky in OZ, with our real estate market actually still booming in most parts of the country.
The test will come when the property market starts to deflate.
One of my staff recently got a house loan based on the dodgiest of income statements.
He wanted me to say he earned $50k a year.He earns about $38k in a very,very good year.
I told the mortgage originator that he could potentialy earn $50k if he worked 6 days a week,at least 50 weeks a year.
That was enough.He got the loan.
anyway he is an experts view .
Don't panic! Sub-prime won't last long
A global credit squeeze being driven by the United States has stripped billions from the stock market this week, but analysts do not expect the slump to last long.
Casual economic observers have heard the term sub-prime market crisis more often in recent months, a reference to the fear that the sharp rise in US mortgage defaults would have global implications when US banks became more reluctant to lend money.
Mr Gamble believed the lack of lending confidence sparked by events in the US would continue to have some impact on housing interest rates in Australia, but he doubted that effect would be as severe.
All the Australian banks have said they have no exposure to the sub-prime market, so it would seem highly unlikely the same thing will happen on the same scale here, he said.
http://www.thedaily.com.au/news/2007/dec/1...wont-last-long/
Most folks here think that the 'sub prime' mess is a USA specific problem.
They believe that our banks have no exposure to the US problem.
That may be true, but thats not the point.
Our lending in OZ has been as lax as anyone elses.
We have been lucky in OZ, with our real estate market actually still booming in most parts of the country.
The test will come when the property market starts to deflate.
One of my staff recently got a house loan based on the dodgiest of income statements.
He wanted me to say he earned $50k a year.He earns about $38k in a very,very good year.
I told the mortgage originator that he could potentialy earn $50k if he worked 6 days a week,at least 50 weeks a year.
That was enough.He got the loan.
anyway he is an experts view .
Don't panic! Sub-prime won't last long
A global credit squeeze being driven by the United States has stripped billions from the stock market this week, but analysts do not expect the slump to last long.
Casual economic observers have heard the term sub-prime market crisis more often in recent months, a reference to the fear that the sharp rise in US mortgage defaults would have global implications when US banks became more reluctant to lend money.
Mr Gamble believed the lack of lending confidence sparked by events in the US would continue to have some impact on housing interest rates in Australia, but he doubted that effect would be as severe.
All the Australian banks have said they have no exposure to the sub-prime market, so it would seem highly unlikely the same thing will happen on the same scale here, he said.
http://www.thedaily.com.au/news/2007/dec/1...wont-last-long/
The coming TASR short squeeze is real.
It's serious. It's urgent.
There will be Global orders of a magnitude never before seen by mankind.
We must all take action immediately.
Dong with impunity.
It's serious. It's urgent.
There will be Global orders of a magnitude never before seen by mankind.
We must all take action immediately.
Dong with impunity.
From Wikipedia, to dispel an urban myth or is it a sore loser.
Some people can't believe that there are better traders out there than they are. Those who participate on this board know there are better traders.
We have the good fortune to watch them here very day and benefit from their skill and expertice. Thanks to those who know who you are.
In 1987 Williams won the World Cup Championship of Futures Trading, sponsored by Robbins Trading Company, trading $10,000 in real money to $1,147,000 in 12 months a feat no one else has come close to matching. It was a wild year, as Williams ran his winnings to more than $2,000,000 by the end of September, dropped down to $750,000 after the October 87 crash, and traded back to the $1,147,000 mark by the end of the year.
While some claimed that Williams maintained two accounts during the competition one for winning trades and one for losing trades --- his contest account was closely scrutinized by the CFTC and NFA and this allegation was found to not be true
KW mentioned 2%/day goal. According to a quick on the back of an envelope calculation, a 10k account appreciating at 2%/day compounded would be approximatly 1.1 mil in a year.
Maybe someone who knows how to do that correctly would post the correct result.
Some people can't believe that there are better traders out there than they are. Those who participate on this board know there are better traders.
We have the good fortune to watch them here very day and benefit from their skill and expertice. Thanks to those who know who you are.
In 1987 Williams won the World Cup Championship of Futures Trading, sponsored by Robbins Trading Company, trading $10,000 in real money to $1,147,000 in 12 months a feat no one else has come close to matching. It was a wild year, as Williams ran his winnings to more than $2,000,000 by the end of September, dropped down to $750,000 after the October 87 crash, and traded back to the $1,147,000 mark by the end of the year.
While some claimed that Williams maintained two accounts during the competition one for winning trades and one for losing trades --- his contest account was closely scrutinized by the CFTC and NFA and this allegation was found to not be true
KW mentioned 2%/day goal. According to a quick on the back of an envelope calculation, a 10k account appreciating at 2%/day compounded would be approximatly 1.1 mil in a year.
Maybe someone who knows how to do that correctly would post the correct result.
these guys are really lucky or unlucky.. 
Shareholders cop Centro brunt
Top execs may not have to pay back money
Centro executive shares almost double
Public shares drop from $5.70 to 42c
THE most senior executives at Centro Properties Group - which is facing collapse after suffering a $6 billion meltdown this week - were given 10-year interest-free loans by the company to buy $44 million worth of shares.
However, the company's seven top executives, including Centro's chief executive, Andrew Scott, chief operating officer Graham Terry and chief financial officer Romano Nenna, may never have to pay the money back because of a legal clause in the generous share agreements that says the money does not need to be repaid if the share price collapses.
http://www.news.com.au/business/story/0,23...346-462,00.html
Shareholders cop Centro brunt
Top execs may not have to pay back money
Centro executive shares almost double
Public shares drop from $5.70 to 42c
THE most senior executives at Centro Properties Group - which is facing collapse after suffering a $6 billion meltdown this week - were given 10-year interest-free loans by the company to buy $44 million worth of shares.
However, the company's seven top executives, including Centro's chief executive, Andrew Scott, chief operating officer Graham Terry and chief financial officer Romano Nenna, may never have to pay the money back because of a legal clause in the generous share agreements that says the money does not need to be repaid if the share price collapses.
http://www.news.com.au/business/story/0,23...346-462,00.html
Buy and hold baby!
Just like Warren Buffet.
Just like Warren Buffet.
funny how it works.
When you actually need loose lending standards,they tighten things up.
This is not what you want to hear if you are trying to sell a house...
Fed Plans to Tighten U.S. Mortgage Rules After Crisis
Dec. 18 (Bloomberg) -- The Federal Reserve proposed new rules for subprime mortgages, including a ban on low- documentation loans and limits on penalties for borrowers who prepay their debts.
The plans, the Fed's biggest regulatory initiative since Chairman Ben S. Bernanke took office in February 2006, are aimed at curbing lending practices that contributed to record foreclosures. Board members unanimously voted in a hearing today to make lenders responsible for determining whether borrowers can afford their mortgages even after low starter rates expire.
http://www.bloomberg.com/apps/news?pid=206...rPDc&refer=home
When you actually need loose lending standards,they tighten things up.
This is not what you want to hear if you are trying to sell a house...
Fed Plans to Tighten U.S. Mortgage Rules After Crisis
Dec. 18 (Bloomberg) -- The Federal Reserve proposed new rules for subprime mortgages, including a ban on low- documentation loans and limits on penalties for borrowers who prepay their debts.
The plans, the Fed's biggest regulatory initiative since Chairman Ben S. Bernanke took office in February 2006, are aimed at curbing lending practices that contributed to record foreclosures. Board members unanimously voted in a hearing today to make lenders responsible for determining whether borrowers can afford their mortgages even after low starter rates expire.
http://www.bloomberg.com/apps/news?pid=206...rPDc&refer=home
funny how it works ..
The governments around the world can all put out their phoney inflation reports,but at the coalface, companies have to raise prices to cover the extra input costs.
And these companies have to raise prices at the very worst time.
GM Raises Prices as Much as $1,500 on Higher Costs
Dec. 18 (Bloomberg) -- General Motors Corp., the world's largest automaker, is raising prices as much as $1,500 on its cars and trucks to help recover increasing costs for metals and other commodities.
Prices will go up an average of about 1.5 percent on most 2008 models, the Detroit-based automaker said today in a statement. The increases take effect tomorrow on vehicles shipped to dealers. GM last boosted prices because of material costs in November 2006.
http://www.bloomberg.com/apps/news?pid=206...9Mxs&refer=home
The governments around the world can all put out their phoney inflation reports,but at the coalface, companies have to raise prices to cover the extra input costs.
And these companies have to raise prices at the very worst time.
GM Raises Prices as Much as $1,500 on Higher Costs
Dec. 18 (Bloomberg) -- General Motors Corp., the world's largest automaker, is raising prices as much as $1,500 on its cars and trucks to help recover increasing costs for metals and other commodities.
Prices will go up an average of about 1.5 percent on most 2008 models, the Detroit-based automaker said today in a statement. The increases take effect tomorrow on vehicles shipped to dealers. GM last boosted prices because of material costs in November 2006.
http://www.bloomberg.com/apps/news?pid=206...9Mxs&refer=home
QUOTE(cwd @ Dec 18 2007, 04:53 PM)
From Wikipedia, to dispel an urban myth or is it a sore loser.
Some people can't believe that there are better traders out there than they are. Those who participate on this board know there are better traders.
We have the good fortune to watch them here very day and benefit from their skill and expertice. Thanks to those who know who you are.
In 1987 Williams won the World Cup Championship of Futures Trading, sponsored by Robbins Trading Company, trading $10,000 in real money to $1,147,000 in 12 months a feat no one else has come close to matching. It was a wild year, as Williams ran his winnings to more than $2,000,000 by the end of September, dropped down to $750,000 after the October 87 crash, and traded back to the $1,147,000 mark by the end of the year.
While some claimed that Williams maintained two accounts during the competition one for winning trades and one for losing trades --- his contest account was closely scrutinized by the CFTC and NFA and this allegation was found to not be true
KW mentioned 2%/day goal. According to a quick on the back of an envelope calculation, a 10k account appreciating at 2%/day compounded would be approximatly 1.1 mil in a year. Maybe someone who knows how to do that correctly would post the correct result.
Some people can't believe that there are better traders out there than they are. Those who participate on this board know there are better traders.
We have the good fortune to watch them here very day and benefit from their skill and expertice. Thanks to those who know who you are.
In 1987 Williams won the World Cup Championship of Futures Trading, sponsored by Robbins Trading Company, trading $10,000 in real money to $1,147,000 in 12 months a feat no one else has come close to matching. It was a wild year, as Williams ran his winnings to more than $2,000,000 by the end of September, dropped down to $750,000 after the October 87 crash, and traded back to the $1,147,000 mark by the end of the year.
While some claimed that Williams maintained two accounts during the competition one for winning trades and one for losing trades --- his contest account was closely scrutinized by the CFTC and NFA and this allegation was found to not be true
KW mentioned 2%/day goal. According to a quick on the back of an envelope calculation, a 10k account appreciating at 2%/day compounded would be approximatly 1.1 mil in a year.
Maybe someone who knows how to do that correctly would post the correct result. $10k yielding 2% daily for 250 days would be ~1,412,677. Not too shabby.
Taxes would probably take close to half unless it was an IRA or similar. Of course, if it were this simple, after 5 years you'd be at ~$562 trillion.
Which I think is far greater than all the money in the world, but might be slightly less than the sum of all global derivatives. And when you get to be a trillionaire, we're talking the kind of money that can buy summer rocket trips to Mars, your own nuclear bomber squadron, and pay others to crap for you.
Me, uh, assuming I could do that, I think I'd quit after about 18 months and disappear.
I think I've had strecthes of options trading where I averaged around 5%/day for a week or two. But it always tends to end like the Hindenburg.
QUOTE(Brisbane Bear @ Dec 18 2007, 05:26 PM)
funny how it works ..
The governments around the world can all put out their phoney inflation reports,but at the coalface, companies have to raise prices to cover the extra input costs.
And these companies have to raise prices at the very worst time.
GM Raises Prices as Much as $1,500 on Higher Costs
Dec. 18 (Bloomberg) -- General Motors Corp., the world's largest automaker, is raising prices as much as $1,500 on its cars and trucks to help recover increasing costs for metals and other commodities.
Prices will go up an average of about 1.5 percent on most 2008 models, the Detroit-based automaker said today in a statement. The increases take effect tomorrow on vehicles shipped to dealers. GM last boosted prices because of material costs in November 2006.
http://www.bloomberg.com/apps/news?pid=206...9Mxs&refer=home
The governments around the world can all put out their phoney inflation reports,but at the coalface, companies have to raise prices to cover the extra input costs.
And these companies have to raise prices at the very worst time.
GM Raises Prices as Much as $1,500 on Higher Costs
Dec. 18 (Bloomberg) -- General Motors Corp., the world's largest automaker, is raising prices as much as $1,500 on its cars and trucks to help recover increasing costs for metals and other commodities.
Prices will go up an average of about 1.5 percent on most 2008 models, the Detroit-based automaker said today in a statement. The increases take effect tomorrow on vehicles shipped to dealers. GM last boosted prices because of material costs in November 2006.
http://www.bloomberg.com/apps/news?pid=206...9Mxs&refer=home
Yes the whiff of stagflation is in the air. Companies try to pass along higher input costs when the consumer is maxed out. Bernanke prefers this instead of deflation?
http://www.shadowstats.com/
you can't stop the 'law of the jungle'.
When people see companies like Centro being slaughtered,they don't think about how they can help them over their difficulties,they just think what piece of cheap property can I get my greedy little hands on.
Thats why these schemes can never work.
Its a dog eat dog world.
The dynamics just dont allow it.
U.S. shopping center shares tank on Centro problems
NEW YORK (Reuters) - Shares of U.S. owners of neighborhood shopping centers reached year lows on Tuesday after Australia's Centro Properties Group (CNP.AX: Quote, Profile, Research), which owns or manages more than 700 U.S. retail properties, said it may have to restructure $1.1 billion of its debt.
"There's so much jitteriness and nervousness of subprime spreading that investors are concerned that Centro's problems will not be isolated," BMO Capital analyst Paul Adornato said.
http://www.reuters.com/article/hotStocksNe...850559320071218
When people see companies like Centro being slaughtered,they don't think about how they can help them over their difficulties,they just think what piece of cheap property can I get my greedy little hands on.
Thats why these schemes can never work.
Its a dog eat dog world.
The dynamics just dont allow it.
U.S. shopping center shares tank on Centro problems
NEW YORK (Reuters) - Shares of U.S. owners of neighborhood shopping centers reached year lows on Tuesday after Australia's Centro Properties Group (CNP.AX: Quote, Profile, Research), which owns or manages more than 700 U.S. retail properties, said it may have to restructure $1.1 billion of its debt.
"There's so much jitteriness and nervousness of subprime spreading that investors are concerned that Centro's problems will not be isolated," BMO Capital analyst Paul Adornato said.
http://www.reuters.com/article/hotStocksNe...850559320071218
it must be galling for someone like Paulson, the ultimate capitalist,from the ultimate capitalist company GS,to have to go around the country spewing bullshit like this.
Paulson says mortgage relief plan not a bailout.
KANSAS CITY, Missouri (Reuters) - U.S. Treasury Secretary Henry Paulson, on the second day of a tour seeking to build support for a mortgage relief plan, said on Tuesday it was not a bailout for people who made bad decisions.
"Foreclosures are very costly to lenders and investors as well as harmful to homeowners," Paulson said in an interview on Fox News Channel. "There's no bailout with government money, none whatsoever."
Earlier this month, Paulson unveiled a proposal that would temporarily freeze low introductory or "teaser" rates on subprime mortgage loans for five years so that some borrowers would not face the loss of their homes when their loans reset at higher rates.
The Bush administration proposal has met skepticism, with some critics warning it may make lenders wary about future lending because they see the government stepping in to change terms. Others say people should bear the consequences of bad decisions.
http://www.reuters.com/article/ousiv/idUSWAT00858920071218
Paulson says mortgage relief plan not a bailout.
KANSAS CITY, Missouri (Reuters) - U.S. Treasury Secretary Henry Paulson, on the second day of a tour seeking to build support for a mortgage relief plan, said on Tuesday it was not a bailout for people who made bad decisions.
"Foreclosures are very costly to lenders and investors as well as harmful to homeowners," Paulson said in an interview on Fox News Channel. "There's no bailout with government money, none whatsoever."
Earlier this month, Paulson unveiled a proposal that would temporarily freeze low introductory or "teaser" rates on subprime mortgage loans for five years so that some borrowers would not face the loss of their homes when their loans reset at higher rates.
The Bush administration proposal has met skepticism, with some critics warning it may make lenders wary about future lending because they see the government stepping in to change terms. Others say people should bear the consequences of bad decisions.
http://www.reuters.com/article/ousiv/idUSWAT00858920071218
QUOTE(cwd @ Dec 18 2007, 03:53 PM)
From Wikipedia, to dispel an urban myth or is it a sore loser.
Some people can't believe that there are better traders out there than they are. Those who participate on this board know there are better traders.
We have the good fortune to watch them here very day and benefit from their skill and expertice. Thanks to those who know who you are.
In 1987 Williams won the World Cup Championship of Futures Trading, sponsored by Robbins Trading Company, trading $10,000 in real money to $1,147,000 in 12 months a feat no one else has come close to matching. It was a wild year, as Williams ran his winnings to more than $2,000,000 by the end of September, dropped down to $750,000 after the October 87 crash, and traded back to the $1,147,000 mark by the end of the year.
While some claimed that Williams maintained two accounts during the competition one for winning trades and one for losing trades --- his contest account was closely scrutinized by the CFTC and NFA and this allegation was found to not be true
KW mentioned 2%/day goal. According to a quick on the back of an envelope calculation, a 10k account appreciating at 2%/day compounded would be approximatly 1.1 mil in a year. Maybe someone who knows how to do that correctly would post the correct result.
Some people can't believe that there are better traders out there than they are. Those who participate on this board know there are better traders.
We have the good fortune to watch them here very day and benefit from their skill and expertice. Thanks to those who know who you are.
In 1987 Williams won the World Cup Championship of Futures Trading, sponsored by Robbins Trading Company, trading $10,000 in real money to $1,147,000 in 12 months a feat no one else has come close to matching. It was a wild year, as Williams ran his winnings to more than $2,000,000 by the end of September, dropped down to $750,000 after the October 87 crash, and traded back to the $1,147,000 mark by the end of the year.
While some claimed that Williams maintained two accounts during the competition one for winning trades and one for losing trades --- his contest account was closely scrutinized by the CFTC and NFA and this allegation was found to not be true
KW mentioned 2%/day goal. According to a quick on the back of an envelope calculation, a 10k account appreciating at 2%/day compounded would be approximatly 1.1 mil in a year.
Maybe someone who knows how to do that correctly would post the correct result. How do ya think I came up with the 2% a day goal?
I remember when he did that, so I tried to break it down to what it would take in manageable bites....and 2% is really not that hard to do in a day in a futures account. You have to be ruthless about cutting losses though. To date, that has been my biggest problem in my attempts to match that record. I have gotten MUCH better about that lately, and in addition have shortened my holding periods, and the consistency of my results has increased dramatically.
QUOTE(Brisbane Bear @ Dec 18 2007, 03:26 PM)
funny how it works ..
The governments around the world can all put out their phoney inflation reports,but at the coalface, companies have to raise prices to cover the extra input costs.
And these companies have to raise prices at the very worst time.
GM Raises Prices as Much as $1,500 on Higher Costs
Dec. 18 (Bloomberg) -- General Motors Corp., the world's largest automaker, is raising prices as much as $1,500 on its cars and trucks to help recover increasing costs for metals and other commodities.
Prices will go up an average of about 1.5 percent on most 2008 models, the Detroit-based automaker said today in a statement. The increases take effect tomorrow on vehicles shipped to dealers. GM last boosted prices because of material costs in November 2006.
http://www.bloomberg.com/apps/news?pid=206...9Mxs&refer=home
The governments around the world can all put out their phoney inflation reports,but at the coalface, companies have to raise prices to cover the extra input costs.
And these companies have to raise prices at the very worst time.
GM Raises Prices as Much as $1,500 on Higher Costs
Dec. 18 (Bloomberg) -- General Motors Corp., the world's largest automaker, is raising prices as much as $1,500 on its cars and trucks to help recover increasing costs for metals and other commodities.
Prices will go up an average of about 1.5 percent on most 2008 models, the Detroit-based automaker said today in a statement. The increases take effect tomorrow on vehicles shipped to dealers. GM last boosted prices because of material costs in November 2006.
http://www.bloomberg.com/apps/news?pid=206...9Mxs&refer=home
Unfortunately for GM, and as many current homeowners know, askin' and gettin' price are two different things.
Why not just double the price of the cars?
Too bad GM doesn't have a company-owned retail store at the mall.
They can see what market price really means on December 26.
And January 2 if they're really slow.
*** heard they were really, really, really slow ***
They can see what market price really means on December 26.
And January 2 if they're really slow.
*** heard they were really, really, really slow ***
FXI still tracking the crash pattern to a T, bounced right on cue....here is where the rubber meets the road...this bounce needs to fail quickly now (tomorrow or next day latest), and then the crash window could open wide....
If da bullz are able to hold it here, could be an intermediate upside turn....now or never fellas....
If da bullz are able to hold it here, could be an intermediate upside turn....now or never fellas....
QUOTE(Brisbane Bear @ Dec 18 2007, 05:16 PM)
funny how it works.
When you actually need loose lending standards,they tighten things up.
This is not what you want to hear if you are trying to sell a house...
Fed Plans to Tighten U.S. Mortgage Rules After Crisis
Dec. 18 (Bloomberg) -- The Federal Reserve proposed new rules for subprime mortgages, including a ban on low- documentation loans and limits on penalties for borrowers who prepay their debts.
The plans, the Fed's biggest regulatory initiative since Chairman Ben S. Bernanke took office in February 2006, are aimed at curbing lending practices that contributed to record foreclosures. Board members unanimously voted in a hearing today to make lenders responsible for determining whether borrowers can afford their mortgages even after low starter rates expire.
http://www.bloomberg.com/apps/news?pid=206...rPDc&refer=home
When you actually need loose lending standards,they tighten things up.
This is not what you want to hear if you are trying to sell a house...
Fed Plans to Tighten U.S. Mortgage Rules After Crisis
Dec. 18 (Bloomberg) -- The Federal Reserve proposed new rules for subprime mortgages, including a ban on low- documentation loans and limits on penalties for borrowers who prepay their debts.
The plans, the Fed's biggest regulatory initiative since Chairman Ben S. Bernanke took office in February 2006, are aimed at curbing lending practices that contributed to record foreclosures. Board members unanimously voted in a hearing today to make lenders responsible for determining whether borrowers can afford their mortgages even after low starter rates expire.
http://www.bloomberg.com/apps/news?pid=206...rPDc&refer=home
I guess it is if the lenders plan on being paid back. The genesis of the mortgage mess in the US got out of hand because all of the paticipant didn't care if the loans were paid back because they were just taking a piece out and moving them on the the ultimate sucker, the customers of the Wall Street Frausters who were handling OPM.
QUOTE(Private Skidmark @ Dec 18 2007, 05:29 PM)
$10k yielding 2% daily for 250 days would be ~1,412,677. Not too shabby. Taxes would probably take close to half unless it was an IRA or similar.
Of course, if it were this simple, after 5 years you'd be at ~$562 trillion. Which I think is far greater than all the money in the world, but might be slightly less than the sum of all global derivatives.
And when you get to be a trillionaire, we're talking the kind of money that can buy summer rocket trips to Mars, your own nuclear bomber squadron, and pay others to crap for you.
Me, uh, assuming I could do that, I think I'd quit after about 18 months and disappear.
I think I've had strecthes of options trading where I averaged around 5%/day for a week or two. But it always tends to end like the Hindenburg.
Taxes would probably take close to half unless it was an IRA or similar. Of course, if it were this simple, after 5 years you'd be at ~$562 trillion.
Which I think is far greater than all the money in the world, but might be slightly less than the sum of all global derivatives. And when you get to be a trillionaire, we're talking the kind of money that can buy summer rocket trips to Mars, your own nuclear bomber squadron, and pay others to crap for you.
Me, uh, assuming I could do that, I think I'd quit after about 18 months and disappear.
I think I've had strecthes of options trading where I averaged around 5%/day for a week or two. But it always tends to end like the Hindenburg.
Still having a few problems with network connections here. I will be posting a WSE Pro market update, but it will be late this evening.
QUOTE(shorty @ Dec 18 2007, 02:40 PM)
The coming TASR short squeeze is real.
It's serious. It's urgent.
There will be Global orders of a magnitude never before seen by mankind.
We must all take action immediately.
Dong with impunity.
It's serious. It's urgent.
There will be Global orders of a magnitude never before seen by mankind.
We must all take action immediately.
Dong with impunity.
this thing has been in a 2 year bull run and has 27% of the shares short. Don't traders know there are better stocks to short.
Up here where I live the rcmp love these things.
http://www.cbc.ca/canada/british-columbia/...edpaperboy.html
this guy was delivering my local paper when he got zapped!
he deserved a zap for double parking...
Infact I am all for extending the use of Tasers.
People who park in no standing zones,people who take more than 12 items thru the express lane at supermarkets,people who talk on mobile phones in restaurants,infact the list is endless...
Infact I am all for extending the use of Tasers.
People who park in no standing zones,people who take more than 12 items thru the express lane at supermarkets,people who talk on mobile phones in restaurants,infact the list is endless...
QUOTE(K Wave Rider @ Dec 18 2007, 06:03 PM)
How do ya think I came up with the 2% a day goal?
I remember when he did that, so I tried to break it down to what it would take in manageable bites....and 2% is really not that hard to do in a day in a futures account. You have to be ruthless about cutting losses though. To date, that has been my biggest problem in my attempts to match that record. I have gotten MUCH better about that lately, and in addition have shortened my holding periods, and the consistency of my results has increased dramatically.
I remember when he did that, so I tried to break it down to what it would take in manageable bites....and 2% is really not that hard to do in a day in a futures account. You have to be ruthless about cutting losses though. To date, that has been my biggest problem in my attempts to match that record. I have gotten MUCH better about that lately, and in addition have shortened my holding periods, and the consistency of my results has increased dramatically.
Shorten holding periods....
My type of guy.
Back to vacation. Trade safe.
Fortune favours the brave.
I was toying wit a dong at the height of the panic sell off yesterday.
6100 Ords calls were .27c now .96c
Centro hit .42c now $1.49.
I was close to buying the Ords calls but I wouldn't have touched Centro with a barge pole.
I was toying wit a dong at the height of the panic sell off yesterday.
6100 Ords calls were .27c now .96c
Centro hit .42c now $1.49.
I was close to buying the Ords calls but I wouldn't have touched Centro with a barge pole.
QUOTE(Brisbane Bear @ Dec 18 2007, 07:10 PM)
he deserved a zap for double parking...
Infact I am all for extending the use of Tasers.
People who park in no standing zones,people who take more than 12 items thru the express lane at supermarkets,people who talk on mobile phones in restaurants,infact the list is endless...
Infact I am all for extending the use of Tasers.
People who park in no standing zones,people who take more than 12 items thru the express lane at supermarkets,people who talk on mobile phones in restaurants,infact the list is endless...
... and people who say "EXCUSE ME" when all they're trying to do is dominate an exchange and deny others their chance to talk.
Oh wait, that guy did get tazed for that one.
Right after he coined the "Don't taze me Bro" slogan.
Ah, 2007, we're gonna remember you....
Did anyone happen to note that the MINIMUM acceptable bid at the Monday's taffy auction was 4.17%. What if they threw the party and nobody came? Results tomorrow. Stay tuned.
QUOTE(DrStool @ Dec 18 2007, 08:48 PM)
Did anyone happen to note that the MINIMUM acceptable bid at the Monday's taffy auction was 4.17%. What if they threw the party and nobody came? Results tomorrow. Stay tuned.
No prob! Spin: The Fed offered 20 billion to the market and things are so good nobody needed it.
Holy cow. Where is everybody?
This is bearish as hell.
This is bearish as hell.
I finally got a market update posted in WSE Pro. Sorry for the delay.
No upside follow thru down under tonight...below yesterday's low, and it could get ugly fast.....
QUOTE(Brisbane Bear @ Dec 18 2007, 06:00 PM)
it must be galling for someone like Paulson, the ultimate capitalist,from the ultimate capitalist company GS,to have to go around the country spewing bullshit like this.
Paulson says mortgage relief plan not a bailout.
KANSAS CITY, Missouri (Reuters) - U.S. Treasury Secretary Henry Paulson, on the second day of a tour seeking to build support for a mortgage relief plan, said on Tuesday it was not a bailout for people who made bad decisions.
"Foreclosures are very costly to lenders and investors as well as harmful to homeowners," Paulson said in an interview on Fox News Channel. "There's no bailout with government money, none whatsoever."
Earlier this month, Paulson unveiled a proposal that would temporarily freeze low introductory or "teaser" rates on subprime mortgage loans for five years so that some borrowers would not face the loss of their homes when their loans reset at higher rates.
The Bush administration proposal has met skepticism, with some critics warning it may make lenders wary about future lending because they see the government stepping in to change terms. Others say people should bear the consequences of bad decisions.
http://www.reuters.com/article/ousiv/idUSWAT00858920071218
Paulson says mortgage relief plan not a bailout.
KANSAS CITY, Missouri (Reuters) - U.S. Treasury Secretary Henry Paulson, on the second day of a tour seeking to build support for a mortgage relief plan, said on Tuesday it was not a bailout for people who made bad decisions.
"Foreclosures are very costly to lenders and investors as well as harmful to homeowners," Paulson said in an interview on Fox News Channel. "There's no bailout with government money, none whatsoever."
Earlier this month, Paulson unveiled a proposal that would temporarily freeze low introductory or "teaser" rates on subprime mortgage loans for five years so that some borrowers would not face the loss of their homes when their loans reset at higher rates.
The Bush administration proposal has met skepticism, with some critics warning it may make lenders wary about future lending because they see the government stepping in to change terms. Others say people should bear the consequences of bad decisions.
http://www.reuters.com/article/ousiv/idUSWAT00858920071218
It is a bailout for him , as in stay out of jail. He made more money on this fraudulent paper than any one.
QUOTE(DrStool @ Dec 18 2007, 11:06 PM)
Holy cow. Where is everybody?
This is bearish as hell.
This is bearish as hell.
We must be at the top.
Even if nobody cares about stocks in the next few trading days, I'd have to suspect the pigmen will allow price to rise ever so slightly on low volume.
I also wouldn't be surprised that shorts are the only ones allowing prices to rise, only to re-short and drive price back down again.
Notable volume in GS today. Trouble is they didn't break it down enough for that volume.
http://www.StockSharePublishing.com/ChartL..._1198040929.png
I also wouldn't be surprised that shorts are the only ones allowing prices to rise, only to re-short and drive price back down again.
Notable volume in GS today. Trouble is they didn't break it down enough for that volume.
http://www.StockSharePublishing.com/ChartL..._1198040929.png
sounds like something out of Glen Garry Glen Ross...
`Deal With Devil' Funded Carrera Crash Before Bust
Dec. 18 (Bloomberg) -- One week in 2002, Daniel Sadek was $6,000 short of covering the payroll for his new subprime mortgage company, Quick Loan Funding Corp. So he flew to Las Vegas and put a $5,000 chip on the blackjack table.
``I could have borrowed the money, I suppose,'' Sadek says.
That wouldn't have been his style. With his shoulder-length hair and beard, torn jeans and T-shirts with slogans such as ``Where is God?'' Sadek looked more like a guitarist for Guns N' Roses than a mortgage banker.
Sadek says he was dealt a jack, then an ace. Blackjack. He would make payroll. Quick Loan Funding, based in Costa Mesa, California, would survive and, for a while, prosper as one of 1,300 mortgage lenders in the state vying to satisfy Wall Street's thirst for subprime debt.
http://www.bloomberg.com/apps/news?pid=206...id=alNDZa.Hm6O0
`Deal With Devil' Funded Carrera Crash Before Bust
Dec. 18 (Bloomberg) -- One week in 2002, Daniel Sadek was $6,000 short of covering the payroll for his new subprime mortgage company, Quick Loan Funding Corp. So he flew to Las Vegas and put a $5,000 chip on the blackjack table.
``I could have borrowed the money, I suppose,'' Sadek says.
That wouldn't have been his style. With his shoulder-length hair and beard, torn jeans and T-shirts with slogans such as ``Where is God?'' Sadek looked more like a guitarist for Guns N' Roses than a mortgage banker.
Sadek says he was dealt a jack, then an ace. Blackjack. He would make payroll. Quick Loan Funding, based in Costa Mesa, California, would survive and, for a while, prosper as one of 1,300 mortgage lenders in the state vying to satisfy Wall Street's thirst for subprime debt.
http://www.bloomberg.com/apps/news?pid=206...id=alNDZa.Hm6O0
QUOTE(DrStool @ Dec 19 2007, 12:06 AM)
Holy cow. Where is everybody?
This is bearish as hell.
This is bearish as hell.
im here !
Under the new rules, such borrowers would have to document their incomes, supply tax returns, earnings statements, bank records or other evidence. Lenders would not be allowed to qualify a person based only on their ability to pay the initial teaser rate.
http://www.nytimes.com/2007/12/19/business...=2&ref=business
What were they doing before?
http://www.nytimes.com/2007/12/19/business...=2&ref=business
What were they doing before?
What were they doing before?
They were lying,thus the term 'liar loans'.
It seems amazing that it happened ,yet it did.
It is still happening in OZ right now.
They were lying,thus the term 'liar loans'.
It seems amazing that it happened ,yet it did.
It is still happening in OZ right now.
QUOTE(bondtrader @ Dec 19 2007, 12:55 AM)
im here !
I'm here too. Up late because index and sector charts look like they want to take a dive. I'm freaking, so I'm studying.
Look at some MACD's. I don't use them much, but they are crossing and the histograms are going negative on one year daily charts. It's the same thing on most foreign indexes also. Everything appears to be in synch to the downside.
Other thoughts?
I'm going to tune out now and go dream of sexy head and shoulders.
Here's a few to check out: RIO, SNCR, CYNO, UTX, ACH, LWAY
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