good explanatory article about the risk regarding credit swaps and hedge funds

http://www.forbes.com/home/forbes/2006/1016/040.html

I've been swamped lately, but saw this article regarding the US ban of internet gaming. This just points out how a bunch of these stocks got hammered. If anyone comes across an article explaining the reasoning legislators had for passing this bill, I'd love to read it.

http://tinyurl.com/g7ls7

INDICATIONS
U.S. stock futures nearly flat to start quarter
ISM poll ahead; Harrah's Entertainment may be bought
By Steve Goldstein, MarketWatch
Last Update: 6:24 AM ET Oct 2, 2006

http://www.marketwatch.com/News/Story/Story.aspx?column=Indications&siteid=

H.R.4411
Internet Gambling Prohibition and Enforcement Act (Engrossed as Agreed to or Passed by House)

http://thomas.loc.gov/cgi-bin/query/D?c109:4:./temp/~c109ilyPbp::

If you can decipher "legalese" - go at it. (-:

An excellent tutorial on the application of a few technical indicators from Master Petch:

THE TECHNICAL PALETTE by David Petch

http://www.financialsense.com/fsu/editorials/petch/2006/0901.html

MARK HULBERT
How bullish would a new Dow high be?
To Dow Theory editors, it wouldn't be a big deal

http://www.marketwatch.com/News/Story/Story.aspx?dist=newsfinder&siteid=yhoo&guid=%7B4D1AF16D%2D02EB%2D4C0F%2DA0DB%2DA83E257FD2FB%7D&

Anyone experiencing a search timeout at http:// thomas.loc.gov, resubmit search by selecting the "bill, resolution" hotspot and type HR 4411.

Hussman is a must read this morning.
It starts with
"The stock market is currently more committed to “historically implausible themes� than at any time since the bubble peak in 2000. "

http://www.hussmanfunds.com/wmc/wmc061002.htm

Hussman is a must read this morning.
It starts with
"The stock market is currently more committed to “historically implausible themes� than at any time since the bubble peak in 2000. "

http://www.hussmanfunds.com/wmc/wmc061002.htm

Re: military background post
Related reading: See "War is a Racket" [http://en.wikipedia.org/wiki/War_is_a_Racket]
by U.S. Marine Brigadier General Smedley Darlington Butler [http://en.wikipedia.org/wiki/Smedley_Darlington_Butler]

Re: Hussman Article and Hedges

That article is interesting...

If you look at all these funds - and at the OEX Put/Call data - they have all been hedged the last 4 weeks.

They don't know any better than the rest of us on whether there will be or will not be a soft landing.

But when the market was goosed last month - they removed some of their hedges - causing the market to shoot higher. In effect they were "forced" to chase the market higher.

One must not forget this can work in reverse also.

Also if the market moves higher - and more of these hedges get removed - and most shorts have been forced out of the market - the market is very very vulnerable to any setback - and that 1000 point drop in the DOW Bill once called for - could easily still happen.

7 weeks ago, Goldman cut rather dramatically the weighting of unleaded gas in their commodity index, forcing traders of the index to sell unleaded gas. Coincidence, or effort by Paulson to "be a team player" in the runup to elections?

http://themessthatgreenspanmade.blogspot.com/2006/10/friends-in-high-places.html

What a US recession means for China

http://www.atimes.com/atimes/Global_Economy/HI27Dj01.html

Thanks oratier,

Since most of these UK gaming stocks got hammered today by the tune of -60%+ there's been talk of consolidation.

http://msnbc.msn.com/id/15109442/

Seamus,
Great article on China. I believe the unwinding of the US economy will be at the hands of China when they feel it necessary to pull the plug on financing the US debt.

China is no friend of the US ,but who can blame them for taking advantage of US money printing. If the US decides to move on Iran, it will be interesting to see if China contiunes to monetarily support the US war machine.