How long can they keep the scam alive. Days? Weeks? Months? Years?

Sorry wasnt here to call it real time 2 days ago, as the net was having"technical difficulities" here in the islands....but I am pretty convinced that the 2 Buck Chuck moment on Bear Stearns maked the Armstrong PEI cycle turn for this cycle low.

Got my horns on in the indexes, and short the crap outta commodes, and currencies. I think Dharma had a long term target of 1025 on Gold...looks like he nailed it almost dead on. Watch the Loonie... should get ripped apart for the next few months...HUGE pivot blast yesterday/today. I think it is a very significant turn.

Lookin a for a good rally in stocks for at least a few months, and possibly a scorch all the way into 2009 from here.

Trade Safe out there......

Fed announces PDCF outstanding at $28.8 billion.

Maybe we go higher from here....This chart seems to support that cause...

higher highs and higher lows...

[attachmentid=96886]

Thanks, which islands are you in?

The activities of the scumbag hedge funds that Russ has refered to in the podcasts has even spread to these shores.

Hedge funds in London have been shorting the heck out of Irish banks for a long time now no doubt spiced with a few rumours.

http://www.rte.ie/business/2008/0320/financial.html

On St Patrick's Day, Irish financial shares lost 7%, with shares in Anglo Irish Bank down as much as 23% at one point. One senior banker told RTE News there had been 'skullduggery' and the greater the volatility, the greater the skullduggery among market participants.

That's going to have an impact on how we see things in the Wall Street Examiner Professional Edition Fed report. I will put out a bulletin for subscribers.

I have posted a special bulletin to the Fed Report

http://wallstreetexaminer.com/?p=2478

Best wishes to all who are celebrating this holiday weekend! Happy Easter.

Geepers, the Irish banks must be in a pickle if they can't deal with
a bank run for drinking money.

This may be significant

WMT Walmart breakout
http://www.StockSharePublishing.com/ChartL..._1206050534.png

and why shouldn't we see some retail like WMT get a boost?

Stimulus on the way - 38 trading dayz away for the helicopter drop

I haven't run the charts yet, but I have a feeling that it's not a good idea to fade K Wave.

Did anything happen?



I guess we'll have more clues next week.

We'll have to ask Jickiss.

yup

“OK, here, take my coat…it must be worth fifty, maybe sixty bucks…please just don’t break my thumb!”
Showing a lack of restraint reminiscent of a Doritos Commercial, desperate Central Banksters today unleashed a multi-hundred Billion dollar $caSSh blaSSt, with promises of more to come. Stressed-out debtors lined up quickly to grab their share of the loot.

Sigma 4 is still on then, after yesterday, I had my doubts. Another 400-500 point day within next 3-5 weeks to cement the breakout.

Next week is EOM and EOQ, I think they must try to get back mutual/401k inflows into the market. There is ample anecdotal evidence that individuals were taking money out of the market in fright.

While they have been whipsawing small fry like me, Hedge Funds must've been blowing up all over the place---which is a good thing for bulls.

So on Monday we go down then.

For those so inclined, covered call opportunities on many of these gold stocks have improved entry points now after the hunnert-dollar gold slapdown.

Even Richard Rusell is turning bullish
I was impressed by today's stock market action. The homebuilding stocks may have bottomed along with the financials. I'll have to see more, but if you want a contrary opinion, it's this -- this market may have discounted the worst at the January lows. From a Dow Theory standpoint, at no time since mid-January have both the D-J Industrials and Transports been lower.

http://ww2.dowtheoryletters.com/dtlol.nsf subscription required

[quote=shorty,Mar 20 2008, 03:38 PM]
Instead of just government junk they will take virtually any kind of crap.

[/quote]
yup

“OK, here, take my coat…it must be worth fifty, maybe sixty bucks…please just don’t break my thumb!”
Showing a lack of restraint reminiscent of a Doritos Commercial, desperate Central Banksters today unleashed a multi-hundred Billion dollar $caSSh blaSSt, with promises of more to come. Stressed-out debtors lined up quickly to grab their share of the loot.

[/quote]

“Good day sir. I’m not here to borrow any money. I’ve always paid my bills, I’m debt-free and my mortgage is paid off 100%. I’d just like to comment on what I feel is the reckless……”

“Security! Security! We gotta nutcase here….lock him up!”

Shorty. I'm this guy who needs to be locked up. you know they've run the price of my paid for house up from 180 thou 7 years ago to just under sevenhunert thou. the only problem is. savings don't buy nuthin now, and the funny thing is, I still get paid the same as before. So does everone else I know. Wonder who I could sell it to for this price? Oh yeah I forgot... some guy with no down payment an real good collateral.

my distaste for banksters grows by the minute.

Just came across these yield curve charts which leave me
speechless:

[attachmentid=96890]

[attachmentid=96891]

[quote=derby,Mar 20 2008, 06:03 PM]
yup

“OK, here, take my coat…it must be worth fifty, maybe sixty bucks…please just don’t break my thumb!”
Showing a lack of restraint reminiscent of a Doritos Commercial, desperate Central Banksters today unleashed a multi-hundred Billion dollar $caSSh blaSSt, with promises of more to come. Stressed-out debtors lined up quickly to grab their share of the loot.

[/quote]

“Good day sir. I’m not here to borrow any money. I’ve always paid my bills, I’m debt-free and my mortgage is paid off 100%. I’d just like to comment on what I feel is the reckless……”

“Security! Security! We gotta nutcase here….lock him up!”

Shorty. I'm this guy who needs to be locked up. you know they've run the price of my paid for house up from 180 thou 7 years ago to just under sevenhunert thou. the only problem is. savings don't buy nuthin now, and the funny thing is, I still get paid the same as before. So does everone else I know. Wonder who I could sell it to for this price? Oh yeah I forgot... some guy with no down payment an real good collateral.

my distaste for banksters grows by the minute.

[/quote]

Those that don't play the game are paying for others to play it, big time. Total moral hazard issue.

a lot longer than anyone likely dreams possible.

it's been 7 or 8 years so far!!! shouts Igor, IMPISHLY.

good news, I'm pre-approved!

how 'bout ya sell it ta me fer 700K and I'll sell it back ta you fer 800K and put my hard-earned 100K profit into gold coins

then I'll buy it again from ya fer 900K so you can put your hard-earned 100K profit into gold coins

I'll live it in fer a year without makin' any payments, then walk away and sue the mrotgouge borker fer trickin' me and go on Crapvision in tears with victim advocate Sen. Chuck Schumer (DumbaSS-NY) by my side

you can always buy it back again in foreclosure fer 400K

we could let the sitsheeashun "age" fer a year or so,

then run 'er again!

it's a livin'

maybe he's gone interplanetary!!! suggests Igor, CONSTRUCTIVELY. Islands aren't gonna be safe FURlong™, anyway! EVERY Wall St panjandrum will want to flee to one.

So far I heard the Sy Harding kind of sentiment repeated from different sources in the last few days.

"I believe the unwind in commodities has begun." Sy Harding http://www.streetsmartreport.com/comm4.html

"The market can remain irrational longer than you can keep solvent..." or something like that.

Actually, it appears not to be the unwinding, but the unleveraging that has begun - in all markets.

Housing
Financials
Commodities

Maybe the next one to get unleveraged will be the foreign ones - EFA, ADRE, EWZ.. etc.

If we do bottom here, I think it's only fair to christen it the Spitzer kristen bottom as there was no other *significant* news in the past two weeks of trading.

"Spitzer Finds Organics and Water Where New Planets May Grow"






http://www.spitzer.caltech.edu/Media/relea...6/release.shtml

Oh, I don't know. Given what weekend it is, the Bear Crucifixion Bottom is only appropriate, given that it's on the ashes of Bear Stearns and all the individual trader bears.





(please note: crucifixion was a punishment commonly used by the Romans on many, many people... not intended to be offensive to anyone's beliefs.... )

what kind of an IT bottom is this supposed to be when the XAX and commodities are pointing straight down?

also NYA is still showing a strong downtrend

but then again, banks and home construction are pointing straight up

must be bullish then

At least Elvis likes us...

Geeesh. What now? Exogenous event or bust?

Fed buys Treasuries, swaps em for shit collateral so the Financials can shore up there balance sheet while the Fed weasels the dreck paper into monetization by the American public...and there is barely an eye batted by those in the financial press. Is there any way the market can go DOWN in the face of this. I am dumbfounded for the 238th time in the last 6 months (i need to work on that, i dumbfound easily).

I want my mommy!!!!

I think we need to consult Rudolph and follow his bright red nose.

She's busy getting ready for her date with Shorty. But I do see a family resemblance to your avatar.

I'm gunna follow the misfit crowd as in the financials and retail and may short the unleveraging of energy/materials and wait to see if the rest of emerging markets gets unleveraged

We need Soup right about now.....

And away we go. "The bear market is doomed." "The bottom is in." "Will gold EVER go back up?"

Look, this is what happens. It's unfortunate. It's maddening. But in bull markets and bear markets alike, THIS IS WHAT HAPPENS, especially with a nut like Bernanke at the helm. He's either a panderer, a true believer, or, as I suspect, both. But oddly enough, this will HELP us in the long run! It's just gonna take time to work through the system. And things are better for us than just about everyone else! Imagine sending the numbers we have at this very moment in gold, oil, financials, the dollar, the Nasdaq, etc. back in time 6 months ago. Then, tell your slightly younger self that you will be FRETTING about these numbers, wondering when the pain will end! Your slightly younger self would slap you upside the head, and tell you to stop moping already!!!

Let's see how this plays out over the next 2 or 3 months- only then will we even BEGIN to see whether the fretting was worthwhile. I suspect not. In the meantime, try getting in on the "don't come" line on the final bubble yet to burst:

http://quote.yahoo.com/q?s=DXKSX

What's miraculous to me, or maybe impressive in a sense, is how perception is so deftly managed and turns on a dime. From last Friday to Sunday night it was the end of the world. Then Tuesday comes, the Fed cuts only .75 and sprinkles some words in and it's somehow hawkish. Bam. The Fed is really serious about inflation. The dollar bear is over. The commodity bull is over. Dead. End of story. And man, don't those financials look hot! When, of course, nothing has changed. I wonder if this could happen if the media weren't as concentrated in a few hands.

We need our own stool channel on the dish.

So do you have them deliver every week, or every month?

You guessed it - canslimers and IBD'ers consider Thursday a follow through day on the 8th day of the FED AFFECTS consolidation.

http://www.canslim.net/mc/MCCurrent.asp

We try to stick to a 29-day lunar cycle. Some modifications might be required for broadcast purposes.

Looks like the Ords may underperform the US if this leg of the commodity bull is over.

We certainly outperformed during the commodity rally.

Financials look really cheap in OZ,yet the housing market has only just begun to deflate in parts of the country.

Hundreds of thousands of sheeple in mortgage stress could cause major problems for the big banks.

It could potentially get very ugly if financials,industrials and retailers have another leg down.

Not forgetting that commodity corrections are usually very savage.

RIO TINTO shareholders are probably kicking themselves for not taking BHPs offer.

With all the misleading indications out there I just couldn't help to consult the oracle.

"I am still going to look for signs of a higher low and a close today above the 1300 level will make this week an outside week with a higher close. This would be a bullish development in view of the extremely bearish nature of all the news and commentary I am hearing and reading. In any case I think the next significant development will be a rally into the 1430-50 range."

http://carlfutia.blogspot.com/

It just means global demand is strong and we're having the biggest bestest strongest world economy ever... dig it?

Lets see what companies will take out of the hat when earnings season starts in early April with Alcoa heading the fanfare on the 4th. Strong Global Demand, here let me put my rose tainted glasses on

UFB

Karl Denniger has some ideas on what the FED is up.

The truth is a bit more obscure and obtuse than that; one must look into how bank capital requirements are determined in order to get to the bottom of it.

Here's reality - Bank Tier Capital - the measure of whether you are "well capitalized" or "dead" as a bank - includes common stock equity.

Specifically, Tier 1 Capital, the most important type for a bank, includes what is known as "Shareholder Equity" as well as retained earnings.

So consider this folks - you can sink a bank if you sink its stock price.

How? Simple - "Shareholder Equity" is not so simple as "stock price." However, the stock price has a major impact on it, because precipitous declines hit both intangibles (good will) and financing costs (in the other direction, raising them) which shrink Shareholder Equity from both ends of the candle at once.

Now do you get it? The Fed and the rest of the fools on The Street want to pump bank stock prices because if they sink sufficiently the bank can actually be declared insolvent as a consequence!

This also, however, means that our banking system is in fact 100% based on confidence and it is the clearest indication you will ever find on why we must have transparency in our financial markets, including an absolute and irrevocable ban on off-balance-sheet and other hidden crap, and forced mark-to-market.
http://market-ticker.denninger.net/

...and that is also why we will never get it.

As I have previouly stated, The FED can and will do whatever it wants, and a few publicity seeking politians won't make any difference.

REX NUTTING
Fed is now the lender of first resort
Commentary: New lending goes beyond what's legally allowed
By Rex Nutting, MarketWatch
Last update: 5:33 p.m. EDT March 20, 2008
WASHINGTON (MarketWatch) -- In a financial crisis, the Federal Reserve has an obligation to become the lender of last resort, making cash available for banks that need it right away to prevent a systemwide meltdown.
But for this crisis, the Fed has become the lender of first resort to a whole new group of financial institutions that are relying on the central bank to boost their profits.
Instead of lending only to firms that cannot find money elsewhere, the Fed apparently is lending to firms that can get the money elsewhere, yet at a higher cost than borrowing from the Fed. I say "apparently" because almost everything about the Fed's new primary dealer-lending facility is secret.
The New York Federal Reserve Bank, which runs the program, would not comment about who is borrowing or under what conditions they are borrowing. The only information that was from the Fed came Thursday in the weekly report on reserve balances, showing that the 20 primary dealers borrowed $28.8 billion on Wednesday and about $19 billion on Monday and Tuesday. See full story.
Three investment banks have announced publicly that they've borrowed from the Fed's new program, but none has provided any details about how much it has borrowed, for what purposes or under what conditions.
http://www.marketwatch.com/news/story/fed-...e&dist=printTop

McClellan was falling all the week, not a single day up.