Posted:
#51
glad I didn't play the bounce. going into the last hour it looks like they want to shove the gamers over a cliff. 
MGM @ interday low of 6.50. LVS just above 8 @ 8.06 
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June Stock Market Discussion
Posted:
#54
monday 6-22. DJII - 163 NASDAQ - 53 S&P - 23
positioning 3k MGM @ 6.02 for a possable bounce. should be in a support area. covered LVS @ 7.49 because it's bounced here before and watching the "boydie" (BYD) back around 8. it's also bounced from here before.
FAZ interday high of 5.21 +0.50 
the E-dog (ETFC) looks washed out and MAY be a play here in the mid 1.20 area BUT just watching for now.
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. But I just believe it needs to go back down. Too far too fast and nothing to support it. 
Posted:
#59
While I too feel a bit unusual expecting (if not rooting) for the market to go down, I really cannot see anything that substantially altered my opinion.
Unemployment will continue to rise (and it remains understated by official stats).While a "lagging indicator" true unemployment will remain high throughout the remainder of this year.
Housing and commercial real estate are heading for more declines.
When one can see actual improvement in stats, macro stats and housing stats in particular, it is hard to see and reason for a consumer driven recovery.
I do not see the American consumer recovering for quite some time...the age of bogus wealth derived from specious activities, house flipping etc are over.
And it is ironic that the supposed purveyors of change are really fundamentally scared to death and want a return to the good old days of cheap credit, cheap oil and those days, baby, are dead, dead, dead.
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Posted:
#60
I do not see the American consumer recovering for quite some
time...the age of bogus wealth derived from specious activities, house
flipping etc are over.
And it is ironic that the supposed purveyors of change are really fundamentally scared to death and want a return to the good old days of cheap credit, cheap oil and those days, baby, are dead, dead, dead.
*100
Obama groupies touting 'economic recovery' are cheering for another bubble
I think i read in another thread that you were asking if anyone knew of anyone(economists) that was calling it a 'housing bubble' and that it was destined to crash. i've been reading multiple blogs since '05 and i can crash a server with links to many non-economists that have been warning of what was coming for years. hit me up if you ever want any links or info
And it is ironic that the supposed purveyors of change are really fundamentally scared to death and want a return to the good old days of cheap credit, cheap oil and those days, baby, are dead, dead, dead.
*100Obama groupies touting 'economic recovery' are cheering for another bubble
I think i read in another thread that you were asking if anyone knew of anyone(economists) that was calling it a 'housing bubble' and that it was destined to crash. i've been reading multiple blogs since '05 and i can crash a server with links to many non-economists that have been warning of what was coming for years. hit me up if you ever want any links or info
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Posted:
#61
Easy thanks for the offer, however I am engaged in a friendly debate with a Fed bureaucrat, who so far has not supplied any evidence for his claim that economists as a class so it coming(as opposed to journalists, market observers, etc ).
I think economics is a pseudo science, a modern day astrology, and its best and brightest blew it completely.And yet we as a country continue to be under their guidance, which strikes me as more than a little absurd.
If you know any degreed economists who published professional papers predicting the wipeout, let me know.I do admit to being wrong, but so far my opponent has failed to provide serious evidence of his claim that "many" economists predicted it.
I think economics is a pseudo science, a modern day astrology, and its best and brightest blew it completely.And yet we as a country continue to be under their guidance, which strikes me as more than a little absurd.
If you know any degreed economists who published professional papers predicting the wipeout, let me know.I do admit to being wrong, but so far my opponent has failed to provide serious evidence of his claim that "many" economists predicted it.
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Posted:
#62
i can crash a server with links to many non-economists that have been warning of what was coming for years.
amen to that
abandoning the Glass- Steagall Act, which gave relative stablity to financial markets for 7 decades and helped prevent "too big to fail" financial companies, was an obvious prescription for disaster. one of the few legislators from both parties or Clinton administration people that DIDN'T get caught up in the hype was Senator Byron Dorgan. and THAT was back in 1999.
that being said, a LOT of what happened wasn't that there wasn't enough regulation, it was because the SEC became lapdogs for Wall Street and didn't INFORCE the regulations on the books.
also, you can't de-industrialize a country and expect it to survive economically at the level the United States once had. when you go from a population that was manufacturing consumer goods at good middle class wages that is now flipping burgers and doing "Welcome to WalMart" for minimum wage and NO benefits, there is no longer the BUYING POWER to buy those consumer goods now made in China and Mexico.
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Posted:
#63
Faz up 15% today. I feel like an ass routing for the market to tank
I feel like an ass for covering my LVS short 
LVS and the other gamers charts look like they could be in for another 50% hair cut from here. I will short any "over sold" bounces. the fundamental chickens are coming back home to roost 
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Posted:
#64
Quote Originally Posted by Vermeer:
Easy thanks for the offer, however I am engaged in a friendly debate with a Fed bureaucrat, who so far has not supplied any evidence for his claim that economists as a class so it coming(as opposed to journalists, market observers, etc ).
I think economics is a pseudo science, a modern day astrology, and its best and brightest blew it completely.And yet we as a country continue to be under their guidance, which strikes me as more than a little absurd.
If you know any degreed economists who published professional papers predicting the wipeout, let me know.I do admit to being wrong, but so far my opponent has failed to provide serious evidence of his claim that "many" economists predicted it.
Easy thanks for the offer, however I am engaged in a friendly debate with a Fed bureaucrat, who so far has not supplied any evidence for his claim that economists as a class so it coming(as opposed to journalists, market observers, etc ).
I think economics is a pseudo science, a modern day astrology, and its best and brightest blew it completely.And yet we as a country continue to be under their guidance, which strikes me as more than a little absurd.
If you know any degreed economists who published professional papers predicting the wipeout, let me know.I do admit to being wrong, but so far my opponent has failed to provide serious evidence of his claim that "many" economists predicted it.
you are giving economists too much credit. I just read Fooled by Randomness on a recommendation from a covers poster, and he puts it exactly how i'd like to hear it put, that they are all worthless.
I'm not sure that this is exactly what you mean, BUT i've read alot of shit about the housing bubble over the last 4+ years, and i think this is something that everyone should be allowed to see, and can make up their own mind.............
And to do that, as Paul McCulley of Pimco put it, Alan Greenspan needs to create a housing bubble to replace the Nasdaq bubble.
Judging by Mr. Greenspan's remarkably cheerful recent testimony, he still thinks he can pull that off. But the Fed chairman's crystal ball has been cloudy lately; remember how he urged Congress to cut taxes to head off the risk of excessive budget surpluses? And a sober look at recent data is not encouraging.
link from NYT 2002, by Krugman
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Posted:
#65
Quote Originally Posted by LeRinkRat:
i can crash a server with links to many non-economists that have been warning of what was coming for years.
amen to that
abandoning the Glass- Steagall Act, which gave relative stablity to financial markets for 7 decades and helped prevent "too big to fail" financial companies, was an obvious prescription for disaster. one of the few legislators from both parties or Clinton administration people that DIDN'T get caught up in the hype was Senator Byron Dorgan. and THAT was back in 1999.
that being said, a LOT of what happened wasn't that there wasn't enough regulation, it was because the SEC became lapdogs for Wall Street and didn't INFORCE the regulations on the books.
also, you can't de-industrialize a country and expect it to survive economically at the level the United States once had. when you go from a population that was manufacturing consumer goods at good middle class wages that is now flipping burgers and doing "Welcome to WalMart" for minimum wage and NO benefits, there is no longer the BUYING POWER to buy those consumer goods now made in China and Mexico.
The CRA and FRE and FNM certainly didn't help either. That and the Baby Boomers antics over the last 30 years have been extremely short sighted. the 21st century economy boomed/survived because of phony wealth in housing. Take away that equity extraction and it paints a very sober picture for our future. We are Japan
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Posted:
#66
We are Japan
possably BUT I think we are more like England who also let their manufacturing base be destroyed by financial weasels out to make a fast buck.
American and British planners = worried about the next quarter
Japanese planners = worried about the next decade
Chinese planners = worried about the next century
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Posted:
#68
the shorts are back in LVS. NO stock to borrow @ TD Ameritrade. could lead to a bounce. already came off it's interday low of 6.88 @ 11:30 edt. current 7.17 just before 1:00.
will see what happens
bounces off the interday low in MGM and BYD also. BYD up slightly on the day and is fighting "the battle of 8 bucks" after an interday low of 7.77. IF it closes below 8 the next stop is probably 7.
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Posted:
#69
Now that the Fed has made the world safe for Goldman again...am sure Hank and Robbie and breathing easier...
Days after repaying its $10 billion federal TARP loan, Goldman Sachs announced it will likely pay the biggest annual bonuses in its 140-year history. Goldman is reaping windfall profits due to decreased competition (no more Bear Stearns or Lehman Brothers) and increased debt issuance by companies and the government. The bank estimates the government will issue $3.25 trillion of debt before September, as a prime broker of U.S. government bonds, "Government Sachs" will make hundreds of millions of dollars.
After blockbuster first-quarter earnings of $1.66 billion, Goldman said it would set aside half of its earnings to reward employees.
Days after repaying its $10 billion federal TARP loan, Goldman Sachs announced it will likely pay the biggest annual bonuses in its 140-year history. Goldman is reaping windfall profits due to decreased competition (no more Bear Stearns or Lehman Brothers) and increased debt issuance by companies and the government. The bank estimates the government will issue $3.25 trillion of debt before September, as a prime broker of U.S. government bonds, "Government Sachs" will make hundreds of millions of dollars.
After blockbuster first-quarter earnings of $1.66 billion, Goldman said it would set aside half of its earnings to reward employees.
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