Congrats if you caught that move today. A real side splitter.

Crap vision anchors are the source of this 2% swing?

Yea Maria going crazy.

Yep, we knew it first. That's why we watch Crapvision!

Oh yea, I caught the move...I gotta go see a doctor about it now though...

[attachmentid=95914]

awesome trade on the QQQQs... i did sell for a nice little 20% gain.

NOW if only oil will drop. Good week Fella's

congrats to the few who caught that move. Could have been done, no problem, tight range for hours, just buy at the low of the range, say long 12170, stop 12140, then you would have caught it. But holding the position over the weekend.... Good luck!

We are still in the channel:

[attachmentid=95915]

SKF, 5 min chart----35min of terror

Aren't those inverse funds fun?

BOO!

Feb. 22 (Bloomberg) -- Joe Lents hasn't made a payment on his $1.5 million mortgage since 2002.
That's when Washington Mutual Inc. first tried to foreclose on his home in Boca Raton, Florida. The Seattle-based lender failed to prove that it owned Lents's mortgage note and dropped attempts to take his house.

the sheeple are starting to panic in Queensland.

We are about to find out what happens to ponzi schemes when no more suckers are willing or able to buy into the ream estate scam.

as they say...'There will be blood'...

Rises fuel rush to sell houses

QUEENSLAND'S buoyant housing market is teetering on the edge of a downturn with new figures revealing a 38 per cent jump in homes for sale.

Home owners have become jittery about future market conditions, says Tim Lawless of RP Data who collated the figures.

In Brisbane the results are magnified with a 62 per cent leap in new listings.

http://www.news.com.au/couriermail/story/0...926-952,00.html

I have a minor problem, perhaps someone can help. I just opened my 2007 year summary from Interactive Brokers - I got 800+ trades - do I have to type all of them into my tax return forms? or there is other way to file the income from that broker - I am using Turbotax online version.

the Great retirement experiment...

Are there limits? Is there a place where the willpower runs out and sanity takes over? A place where the government draws a line and says "$170 billion is fine, and we'll do $800 billion if we have to, but no way will we do a trillion." Or a place where the government says "OK, we'll do a trillion after all, but no way we will do $10 trillion. The amount of inflation that would create and the damage that would do to people's investments and savings is just unthinkable."

If $10 trillion in new money is insane, how about $150 trillion? That would be the equivalent of sending "tax rebate" checks for $500,000 to every man, woman and child in the United States. Now, any reasonable person can see that this idea of creating 1,000 times the money from thin air that we are doing with the current tax "rebates", and pouring $150 trillion out there is completely nuts. That's ten times the size of the national economy, and such an action would annihilate the value of most of the nation's savings and most financial assets.

Except... unfortunately, the $150 trillion isn't theory either. It has already happened - if you believe government promises. In a later reading, we will explore how the $500,000 per person (equivalent) check is already "in the mail", albeit for delivery over a period of decades, and another Reason why inflation will indeed trump deflation.

http://www.safehaven.com/article-9527.htm

Prance

I dont kow about your problems but just for consolation think of the Pooor dooormen in Las Vegas whove been remunerated (extorted tips) for as much as
==please dont believe this,but do a google---five,give it a five,hundred,give that a hundred,thousand,give her a thousand,give it a thousand, dollars ,thats right five hundred thousand dollars a year...in tips

Many now undergoing investigation and posible indictments for tax evasion....

beardrech Do a google las Vegas doorman and the dum--Is this a country...

Oh by the way another rumour has it that a major company specialising in building very large prisons has been hired to build a wall encircling the entire United SStates--one major problem though;they cant get enough neon to fill the planned flashing sign spelling "BABYLON"...

we live in interesting times.

Inflation or deflation?

Boom or bust?

Australia finds itself in a boom and bust cycle at the same time


SOUTHERN Cross Equities head of dealing Charlie Aitken says: "When I ask our customers in Beijing what they think of subprime, they assume I am talking about an underdone steak."

He makes a good turn of phrase. Former BHP Billiton chief executive Chip Goodyear liked that one so much, he lifted it from a note Aitken wrote to clients and turned it back on investors at a briefing before he left office late last year; a word of comfort on the way out the door.

Since then, jitters have become jolts. Jolts have become quakes.

Eruptions on the far side of the world are shifting Australia's largest banks and there are tectonic shifts in the economy. Australia stands astride the moving plates.

Investors are nervous and credit is growing scarcer as interest rates climb, but this week gave us a figure from which to begin gauging our ability to surf the magma: 65%.

http://business.theage.com.au/australia-fi...80222-1u0k.html

Sudaca, I think you are changing your avatar based on some murky criteria. Is that a secret pigmen code that you've got somewhere? :-)

That's your stigma and punishment for praying the money lords!

There's a very well known software package used by active traders that will download all your trades and do the forms.

It's so well known that the name escapes me at the moment.

But you can find it somewhere on IB's site, as well as on other on-line brokerage sites. It's not free, but it's well worth the cost.

You can also just download the trades into excel, tweak the format to make it look something like the tax form setup, and show the net gain or loss and attach that to your form. It's a little more work, but it's free, and they'll accept it as long as it's reasonably clear.

Don't make an error though. They'll catch it.

Believe me, I know.

thank you;

I will need to go this way:

"You can also just download the trades into excel, tweak the format to make it look something like the tax form setup ..."

being a programmer should help a lot.

AH. I remembered the name.

Gainskeeper.


https://www.gainskeeper.com/

Some brokers include a version on their websites.

Conspiracy Theory Time!

Suppose the pigmen wanted to get all the Joe6's out of their short finagler positions, and maybe even into long finagler positions prior to the big markdown. Would it be a good idea to have Charlie Gagarino spout off about a rumored impossible bailout ( with all the necessary CYA language about 'and maybe not' ) of Abcess say a half hour before the market closes. ?

And suppose you wanted to have the maximum Joe6's lined up for the event?

Would you,

could you,

fake a possible plane crash ( that just happens to turn out AOK )

right as the appropriate rumor is outted?


Nah, that just couldn't be.




Awww, forget it then.

Sheesh, I thought I was the only one thinking that! No way no pigman gettin my shorts!

I love that phrase. I think I'll change the headline on the thread.

Ambac Rescue by Banks May Be Announced Next Week, Person Says

Warning: don't read this if you have a weak heart. It's the killer joke. Save this headline. It will live in infamy. Savor each word. "May be announced" now that's something to really believe in. Then consider the source. A person! Yes, a person! As opposed to a monkey or a rock I suppose.

http://www.bloomberg.com/apps/news?pid=206...34mg&refer=home


The story is even better. "These things are complicated"

OMG, make them stop.

http://wallstreetexaminer.com/?p=2344#comment-79395

the ABK 35 mins of terror didn't affect the RUT and NDX quite as much

very clear downtrends still in place imo

all these whipsaws are really pissing me off...

I say: Early next week it will be clear that there are many bulls who regret that they were ever born.

Todays Russ Meyer memorial stick save will go into trading history books as one of the biggest phucked attempts to save the market from going down.

This move was planned, you see it on 1 min chart. We made false break to the downside, than for a few mins were at 12180 or so then the Long Dong Silver slingshot power boner.

Will be reversed. At least thats how i gonna trade it on monday. With a downside bias.

I swear to you that I have attemppted to edit this seemingly Autistic rant twice-I have no idea why I cant introduce the prper emendations--I'll try again

bRIS

aRITHMETICALLY,the short ,intutive answer is no--you can always add another unit.
Practically yes, because by adding fiat unit by unit it leads towards infinity creates a trend towards value where each piece of fiat reacheszero worth....and thus:

Although ,philosophically, there is no end, we do know what has, and will happen in the real world: where every additional unit become more and more worthless..

Mugabe,e.g. has to face this problem in a practical form if each additional member needs its own paper representative .

At which point the earth may be totally inundated in paper fiat..

He dodges this calamitous physical termination by resorting to merely collectivising the myriad units by LABELING...so instead of a e.g. million peices of paper he has one piece of paper with the label:one million...

Chldish,Isn't it??? Which is what we are essentialy involved with now, in our National economic play pen..

And these are the sonofabitchen bastards that when challenged riposte with that magnificent and all-purpose non-sequiter:"Let's get Practical"...

This impractical admonition leads to Arson,destruction of inventories of all sorts of valuables which ultimately leads to the DESTRUCTION of our business civilization..Which is essentially the product of WAR...

Which is why people are getting infuriated...because they are being financially murdered without any knowledge of who their assasin is..

beardrech I wish i could eliminate the "Fear itself"

Totally un-freaking believable!

Automobiles have better paper regulation. Can't find your note? The state will send you a new one for a small fee.

But a bank can't find the note on a 1.5 million loan? Isn't proof of ownership important?

I have lost three posts and countless emendations---I have no idea whats happening and may call it a night

beardrech

I have lost three posts and countless emendations---I have no idea whats happening and may call it a night

beardrech

We need to get Beardrech a tech buddy he can call on the phone when his compuker goes Fubar!

Check out NLR, last tick 34 - some charts don't show.

Finally, an illustrated explanation of the credit crisis that everyone can understand and enjoy:
The Subprime Primer

Dan Norcini over at Sinclair's site has a few strong opinions about the action this afternoon.

Bottom is in...???..

A TALE OF TWO MARKETS

Whilst financials profits are going down the toilet in 2007, Non Financials in the S&P reported a 17% rise in profits for 2007.

All due to the low $ - ride the non financials!!!

Theres a bull market there for those who want to see it.

HP led the way.

I wonder if he pays his property taxes?

No doubt he does pay his property taxes, else the City would have slapped him with tax lien and driven him out after 5 years of non-payment.

The original "paperwork is missing" story came out back in October.

At that time, I recall finding a discussion board (not Stoolville, don't have the link) which included comments by a woman that actually works in the mortgage transfer industry.

Grunt work of pulling together the paperwork, crossing all i's and dotting all t's, getting the right stamps on hte back of documents, type stuff.

She said the typical charge to do that was $75 to $125 per loan, depending on complexity, state of origin, etc.

If you are packaging a thousand loans, all of a sudden you're talking a big number, when compared to the pips here and there margins on these deals.

So, you just skip the paperwork and save maybe a hundred grand on each package. Loans get traded around 6 or 8 times you're talking $750,000 for a package.

Plus, doing the paperwork slows things down for a couple of weeks.

The law was clear and most mortgage processors, banks and everybody else ignored it.

They deserve what they get, IMO

I'm with you on this. I was half expecting it. Even predicted the +100 close before the move happened. I say half-expected because it was just the conspiracy theorist in my head saying it. Picked +100 out of my stool, just because it made the weekly close rougly even with last week. I had no real conviction except for the irony. But... to really trap people, they need to get people back in. That means a couple days of follow through to make this really work. The rumor needs to continue and the rally needs to continue long enough to get people back in long. Not just the ones waiting at 9:30 am Monday morning. Anyway, that's my 2 cents.

If there's anything to the rumor, it just delays things a little past Tuesday. Probably more than this bear can stand.

some homebuilder short candidates???

http://www.bloomberg.com/avp/avp.htm?clipS..._N.ePbiQULc.asf

I can't imagine what would happen early next week if the market closed the week tinkering with the 1320 level, or god save the bulls, under 1320.
Let's see how much staying power this PPT save has.

They don't call it Gloomberg fo'nuttin

On Crapvision they'd cut them off for some faux breaking news.

A best seller:

“All the Kings’ men and all the Kings' Horses cannot put the A-A-A rating back together again!

How many times have we been told about the bail-out of the bond insurers?

First we had the Federal government bailout discussion. Did not happen and can’t happen, but that's another story. Then we had Wil Ross on Crapvision in January and saying he is looking at the bond insurers. Did not happen. And mind you, all these stories caused the market to rise for a day. Then we had Warren Buffet’s pitch. Did not happen. Then we had the state bail out discussion. Now we have the bag holders, rather the banks, looking to buy an AAA rating.

The story on Crapvision just demonstrates that you can’t make a Triple AAA rating out of junk, nor can you buy a AAA rating. But this is what the pig men have been doing.

Their thinking is bankrupt and so is their system.

But more importantly, the article really tells you how desperate things really are.

This latest bail out story will have the opposite effect. On Monday, if a deal is announced the banks stocks will be sold again. Just like they were sold after the government SIV deal fell apart forcing the banks to bring back that bad debt onto their balance sheet.

When will folks realize they can’t fix this mess?

Next Best Seller: Bond Rating School for Dummy’s entitled:

How to get Triple A Ratings on Junk.

Of course this best seller has already been written.

All these "in-process" blow-ups have to be the best "Who-Dun-It" stories of all time.

What a pathetic mess.

That's a best of Capitalstool.com there Schon. Putting it in the WSE!

Lenders shutting down existing home equity lines.

http://www.washingtonpost.com/wp-dyn/conte...ml?hpid=topnews

Deutsche Bank (monthly chart)

could it be that banks have seen their lows or at least are not far away from seeing them? Green is the monthly EMA 200, normally price shouldnt fall for long below that EMA. It was missed just by a few points. Also the stock made a 50% retrace from the lows after the 1987 crash, but we are now 20 years later, 20 years of inflation adjusted prices and so on. Additionally the stock made a 62% retrace from the 2003 low-2007 top.

The high before the 1987 crash was 35, few weeks ago the stock traded at 67, thats means it didnt even double. In 21 years.

So would you say this stock is crossly overvalued? We are speaking about the biggest german bank, with huge and stable cash flows, where very well educated people work, which has a good market position. And so on.

It looks like that a recession is already completely priced in that stock and i guess thats not the only stock where thats the case.

I just want to keep things in perspective. Not saying that i would buy the stock with both hands. But im also not from the "Canned Food Department" and i never will be.

[attachmentid=95920]

from above article last paragraph:

"Corazzi said she was blindsided by what's happened. "I didn't know they could do that. I thought I was too smart to have something like this happen to me."

What kind of tragedy happened to those people? answer: they cut off their credit line.

"DelGallo, a real estate broker, has used some of her credit line over the years. Had she known the freeze was coming, "I would have drained it," she said. "I would have taken every dime and possibly placed it in a money-market vehicle. .."I have this line of credit attached to my home that's useless."

they still do not treat it as debt, just money sitting there and doing nothing.

"I got off the phone and I was shaking," said Corazzi, who was using the money to pay preschool tuition for her twins ."I was near tears. We needed this credit line to get us through some tough times."


Using the money to pay PRESCHOOL TUITION for her twins!

This is why it now costs $150,000 to send your kid to a university. If people are willing to borrow money against their home to fund what is referred to as PRESCHOOL TUITION, then imagine what they will do to fund college tuition.


What does she mean by "tough times?"

Not being able to send her young crumb-cruncher twins to a high dollar preschool.

People have no idea as to what tough times really are.

Take a look at that kitchen in the back ground of the photo. That's a $100K kitchen easily.

AND SHE IS BORROWING MONEY TO SEND HER TWINS TO PRESCHOOL!

We are screwed!

Rick's Ackerman's take on this scam.

Thimble-Riggers



Even so, there can be little doubt that the story was put into play by some of the most capable arse bandits on the Street, timed as it was to hit in the final half-hour of the trading week. The fact that it could not be sourced immediately even by The Wall Street Journal further suggests that the story was a plant, and a spectacularly effective one at that. To put the reaction in perspective, if you had bought just ten S&P futures contracts at 3:20 p.m. (EST), just before the rally took off, you would have made about $75,000 in a little less than thirty minutes.



Not that we think the thimble-riggers who sprang this heist were shooting so low. No sirree, if we were sleuthing around in the time-and-sale records of the Chicago Mercantile Exchange, we’d be absolutely flabbergasted if we didn't turn up some shady operator who had quietly accumulated at least a thousand contracts ahead of the quote-unquote news. Let’s do the math: At $7,500 per contract in nearly instant profit, that would have amounted to a quick $7.5 million. That may be small potatoes in the Merc pits, but not so small that the dupes who sold ahead of the rally, and who effectively gave up that $7.5 million, would not try to track down the perpetrators. (Here’s an offer: If you’re one of those who got fleeced, click here and we can put you in touch with my old partner-in-crime-solving, Kyle Rimdahl, the storied San Francisco private eye at Lipset Service.)

http://www.rickackerman.com/commentary/200...ilout_Talk.html

That was a good indepth interview. It sounded like the ANALysts had been reading Doc's RE report.