Ron Paul Blasting Bernanke on the Value of the Dollar and Price Fixing.

The ABC news article missed some key transcripts, that I have listed below:

Ron Paul:

.....
We don't talk about how we got here.
We talk about how we are going to patch it up.
The bubble has been burst... and nobody says where does it come from?

And what is the advice that you generally get?
[The answer] is inflate the currency.
They don't say inflate the currency, they don't say debase the currency, they don't say devalue the currency, they don't say cheat the people.
They say lower the interest rates.'"

And you never tell them 'the only way you can lower the interest rate is to create more money'. I see this as the problem we don't want to talk about.

We [need to] get down to the bottom of this and define what inflation is, and not look at only prices. This was taught by the free market economists all through the 20th century. They [the free market economists] said 'beware, [the central banks] will increase money supply but they will make you concentrate on prices. And they will give you CPIs and PPIs and fudge those figures'.

We ignore the fundamental flaw and that is not only have we had a subprime market in housing, the whole economic system is subprime in that we have artificially low interest rates. This has been going on for 10 years or longer and now we are bearing the fruits of that policy.

Instead of looking at consumer prices which nobody in this country really believes, we need to talk about the distortion, the malinvestment, the misdirection, the bad information that is gotten from artificially low interest rates. In may ways people refer to you as a price fixer. You fix interest rates. When the Fed fixes interest rates at 1%, that is price fixing.

The real deception is when we distort the value of money, when we create money out of thin air.

We have to get back to the very fundamentals of where this problem [bubbles] comes from. And the bubbles occur when we have malinvestment and the creation of new money.

So my question boils down to this: 'How in the world can we expect to solve the problems of inflation, that is the increase in the supply of money, with more inflation.'

Thanks Ron Paul for seeing the light and telling everyone how it is.

Interestingly enough even Greenspan is now admitting we do not need a Fed but we do need to return to a gold standard or other mechanism that restricts the amount of money that is produced. See Greenspan on Housing, Central Bank, Gold.

Like Ron Paul says we do need to get back to fundamentals and that starts with sound money and sound definition of inflation. Unfortunately we have a Fed that discusses everything under the sun except money supply and inflation. See Oil is set to hit $100 a barrel: Is This Deflation?

It's time to eliminate the price fixers in this world along with the IRS and dozens of useless government agencies. There is only one way to do that and that is to vote for Ron Paul.

http://tinyurl.com/2qpocw

Besides the Calculated Risk blog, I also recommend "Mish's Global Economic Trend Analysis" where I snatched a copy of my last post...

A 10% reduction in gold would put us below Colin Twiggs support at $770 which would warn of further correction. Let's just keep the pullback to support (770), maybe not a full 10%, but good enough.

2nd,
Mkt still closed below key support and I think we see 12,800 +/-, and if we break that it's vertigo time. Soooo, I'm sticking to TA when sentiment is iffy, ie: your question of buying the dips or shorting the peaks. Also of note is go34's warning post yesterday about shorts and long golds.

FXNEWS-

Pound falls after Barclays shares suspended

http://tinyurl.com/2qxz56

Sterling falls to session lows vs dollar to $2.1001, retreating sharply from earlier 26-year highs of $2.1161.

London-based trader says fall coincided with shares in Barclays being suspended (BARC.L: Quote, Profile , Research). Barclays shares fell by as much as 9 percent, hit by market talk of big credit losses at Britain's third largest bank and causing trading in the stock to be briefly suspended for technical reasons.

Consumer sentiment report releasing at 9 AM

Also:

Yen Advances to 18-Month High Against Dollar as Stocks Decline

http://tinyurl.com/2taysj

Bill,
I posted a SELL signal last week for short-term traders (before the FED meeting) and commented on your site. For continuity sake (we have some common readers), I want to inform your readers that I recommended convering.

S&P Futures are down hard in pre-market as the yen carry trade is unwinding at an alarming rate.

I thought we would get a bounce today. Maybe it will come later in the day, but I wouldn't be putting any $$ on it.

Though Bill has warned of this eventuality, the moment has arrived with alarming speed and velocity. I hope everyone here has managed to protect their capital.

What kind of reporting is this from CNBC, breaking news headline??? "Import Prices Unexpectedly Rise at Fastest Pace in 1-1/2 years. Trade Deficit Narrows." UNEXPECTEDLY??? You have GOT to be kidding me.

Thank you Bill for your herculean efforts. I can't wait to see the results from the blog re-org.

Upgrades/Downgrades of interest to Cara readers:

Upgrades: AMAT(2)
Downgrades: JCP
New Coverage: DEO - Underweight by JP Morgan
Target Raised: NG, AUY, KGC

http://tinyurl.com/24hpqu

Lisa,

Gone back through the SEC filings of the insurance companies I own and still feel they are a good investment. I'm sure that there are others that are probably good shorts and I looked at AIG for example and stayed far away. I think a lot of these others, especially the small caps, are being dumped as part of the general financials scare and are good buys here. Would appreciate your thoughts.

As an example, National Western Lifem (NWLIA) trades a P/B of 0.78, has an investment portfolio of $5.6B, shareholder equity of $980m and holds only $110m in asset backed securities, of which $55m is subprime related. Even if the entire $55m is worthless (it is AAA rated and over 50% insured whatever that's worth), the company is still trading at 82% of book value.

Interesting Obsevation: US Trade Deficits improved on each and every one of the recessions since 1970.

Pulled up some of MARKM's favorite charts...

He posted these right before the Aug fall and said MORE DOWNSIDE TO COME...

Guess what...more downside followed...

Now look at these and tell me ...Up or Down?

http://tinyurl.com/2ectq6

http://tinyurl.com/26r24g

http://tinyurl.com/2f78g9

http://tinyurl.com/yoxglr

About the only thing I own is UXG. They have such a large land holding in Nevada, adjacent to other producing gold fields, isn't it possible they could be a takeout target based on this? JMHO.

Im approx 75% cash,,,lol,,,for what that's worth.

Dab

Wish I still had those Puts around...

Have my QID in my retirement account and I shorted MGM yesterday...So I hope that helps

As they say..let your winners run, but for the last oh 5 years the bears have been crushed by every pullback being bought...

So I am happy to be cashing in on my puts and will reload when it feels right..

I am now like 2nd_ave...looking to reenter on the short side..I will wait and see..

I have been looking at which index ETFs have fallen the least in the last 1 month.

There is a divergence between SMH and QQQQ, SMH has fallen much harder. Likely QQQQ is being held together by AAPL, RIM, GOOG and perhaps MSFT?

Least drop is on SPY (put candidate). Worst performers are XLF and SMH, very close.

Ron Paul forcing Greenspans hand in calling for a return to the Gold standard!! How great is that. The major news treats Ron Paul as a third-rate nobody because they know he'll swamp the republican/democrat stranglehold on the political system if word ever gets out how rational and pro-American his thoughts are.

But, with all these financial "truths" coming to light this week and especially today(Look at how fast the carry trade is unwinding)Political "truths" cannot be far behind. Lies only keep working when everyone wants to believe them. Unless the FED has tons of fake money ready to throw at the market, I think we may hit the circuit breakers today. The hole in the "lie" dike seems to large to patch now and the "truth" ocean is pouring in. Maybe there will be hope for our kids yet!!!

Glad to be on the sidelines!!!!

Rob.

I'm keeping an eye on crude volume today. If we see it break north of 150k I'll start taking some positions off the table; if we break 160k I'll dump it all. Also, I'm keeping an eye on XOM. If it breaks below the 100 SMA along with a break in crude it should be an easy trip back to the $84 area.

- Erik P

UNG- NYMEX NG Dec07 futures up about 1.5%

Ultra-short candidates: SMN (basic materials), EEV (emerging mkts), wife still gives me the eye when i mention QID (she still has it in her IRA), EFU (EAFE), REW (large-cap tech index), EWV (Japan)...

could also fade the open with QLD (ultra-long), UYG (financials), or ROM (large-cap tech)...

but usually best to sit back and wait for something to come to you...opportunity always comes up...

2nd, do you mean shorting QLD? Looks like indeed we will enjoy UNG today. I actually moved part of my parked cash from money market into UNG.

I'm not forcing anything 2nd, letting it come to me. All dry powder except small holding of WGW.

Take a look at the top 6 DOW 30's in the daily.
It says "defense" to me.

Jeff Carter, a floor trader who appears regularly on Bloomberg before the bell, just mentioned that he expected the S&P to test 1450 early.

This is the new key level in my view as it also represents a 68% between the August low and October high. If that doesn't hold, we go down to 1430.

Can anyone pass me some popcorn...

This movie "THE END OF THE FINANCIAL WORLD AS WE KNOW IT" is just getting started..

SiO2- was referring to fading the opening drop with an ultra-long->followed by an ultra-short...

chickened out and played Citi instead->long at 31.87 and getting out now...

1420 s&P 12900 DJIA Here we come...

and to think i was looking for a bounce to relaod my shorts...I can wait..

AMZN just broke its 100 SMA. There's really not much support until the 200. Looks like it might be easy to pick up 10 pts of this one.

- Erik P

Hey,
Does anyone else think 30. might be the bottom for CTSH? It just bounced off it, which is a 52 week low.

Rob.

It's just as hard to enter going down as up!

I feel like I'm merging into 100 mph fiscal autobahn traffic in my uninsured 66' VW made of my hard earned cash.

Hey,
Does anyone else think 30. might be the bottom for CTSH? It just bounced off it, which is a 52 week low.

Rob.

"Can anyone pass me some popcorn.."

you make a good point- original plan (at least for me) was to wait out the entire next few months in cash, and spike the port with a few short plays along the way...much easier to sit and wait during declines than it is during bull runs..

Out of WGW with a small profit, now 100% cash.

462 stocks of the SP500 are down.

Looks like the down gap from open is trying to fill, but can't...

Consumer confidence numbers out

Down to 64 from 80 last month. ouch

http://tinyurl.com/yu3dqg

bg- pretty confident you will get a chance to reload at very good bids...

bg- pretty confident you will get a chance to reload at very good bids...

WM- looks i'm getting a chance to get out of my ill-timed play from yesterday morning...

What the hell is going on with GFI?

2nd_ave..

Started to look at building a position in UBS...

Your ill timed play may turn out, but I would stay away from WM...They are a good takeover Candidate...and have lots to offer, but exposure?

I know you were looking for a bounce, i still think you will get it...

I am playing this buy selling some JAN PUTS in UBS..If they get put to me, I am happy CARA100 company...and I will take the $$$ to do so..., but I am starting small and will build over the next few months...

For a brief moment on Kitco the U$D was $72.90 about 10:00AM ???

2nd_ave..Got a report from JP Morgan on UBS...

If you want send me your email and I will forward..

Anyone else having problems with Interactive Brokers's TWS?

WM- out at 20.36->probably early, but it helps to have no conflicting positions when you're getting ready to go short...

Hey, where's Sharkie these days?

Check in with us Chris, let us know you're alright.

JogyP - I have no TWS issues. What're you experiencing?

FXP and EEV- i'm starting to scale (small), 80.69 and 76.64...strong possibility everything turns green today, so with craig on keeping plenty of powder...

OG- I had my pages turning into pink background and trying to login every 30 seconds. I closed the app, restarted and its' working fine now.
Thanks.

"Hey, where's Sharkie these days?" wondering about jasper also...assume a lot of people simply sitting out the bear...

Craig,
Shark emailed me and said he was having some technical problems connecting to the blog, and he was using it to take a little break from posting. I can relate, having dropped out of sight in August until last month. I bet he's out there reading this.

QID- i don't know, man...fido was quoting bid/ask of 39.62/39.63 (in fact, STILL showing the same numbers)->filled at 40.09...not happy...

How's the Goldilocks doing this morning, Larry? :^)

There is something fishy going on with GFI.
No position, but up a buck in yesterday's premkt is still bothering me. Up to 19.60 today with no real corresponding move in bullion or XAU.

Anyone notice more and more talking heads on Bloomberg are bearish and calling out much lower support levels and falling *much* further if those fail? These guys are not buyers.
Anyone here a buyer going longer than 8 hours? LOL!

Fits nicely with those charts via MarkM kindly provided by Basketguy today.

Attention investors in mining companies with US projects! Two potentially devastating pieces of legislation are brewing:

A new nation-wide mining law with 4% revenue royalty for mining on government land has passed the House of Reps:

http://tinyurl.com/22xcho

In Alaska, in a sneaky assault to kill the huge Pebble project is the clean watter ballot initiative which will regulate the cleanliness of every stream in the state. Basically, every mine will be uneconomic if it passes:

http://tinyurl.com/2qdyvg

This is what is called political risk. I'm sticking with Canadian and Mexican mines for now.

pressing all short trades- which i think would in fact be the "right" move here...bounce too widely anticipated->maybe it's not coming? adding QID/FXP/EEV...

I hope Chris is reading and doing well in body, mind, spirit and trading acct!

2nd,,,just sent have fun...

pressing all short trades- which i think would in fact be the "right" move here...bounce too widely anticipated->maybe it's not coming? adding QID/FXP/EEV...

kid you not- fido STILL showing bid/ask of 39.61/39.63 for QID...but they have an out- screen shot showing 10:20 am...;)

I show 40.32 @11:19

My short-term downside target is around 1430 on the SPX; if that doesn't hold then a full 61.8% retrace of the 2003-2007 bull run is expected, putting us around 1080!

Note that the momo stocks on the NDX have all broken second-level critical suypport. This is an extremely ominous development as the next real import level for ALL OF THEM is the 50DMA, which, due to their parabolic blow-off during the last few months, is waaaay down there.

Further, watch the swing lows on the Dow and Transports from mid-August. If both of those fall on a closing basis that constitutes a primary Bear Market signal. The last one of those came in late 1999 - you know what happened next.

Also, beware being short the dollar here. That's a verrrry crowded trade. Ditto on metals. "Margin call gentlemen" is going to start being heard more and more often.

Emerging markets and Europe are going to get it far worse than us in the coming recession, and the East is likely to try to solve this problem via war, not debate and internal growth. If you're trying to hide there as an investor you are risking enormous losses that can come without warning.

I have "crash caution" signals on my prop indicators right now. That's not a WARNING, which is one of those "buy all the PUTs you can get your hands on!" things, but its close.

Either I get a "short term bottom" signal next or the "double square black and red flag" goes up the pole next. Around 1430 on the SPX we will have the answer.

http://market-ticker.denninger.net if you want to track this on a daily basis...

My Fido Active Trader software spazzed out on me earlier too. I had to re-start it to get updated prices.

2nd, They're buying the financials XLF....watch out for the bounce

Is there a quick way I can see the full list of Cara 100 stocks that have their daily, weekly, or monthly RSI < 30? I know this used to be posted daily and I thought it was a great tool.

What are all these waves of buying and selling?

Nice failing dbl top on that chart Bill.
Thank you!

I'm sure that the royalty bill became news the day after margins were increased is purely coincidental.

(cough)

GFI: Still holding up near 18.90's - 19
AUY down
XAU down
GLD down
WGW down

What gives? Does somebody know something we don't?

2nd_ave - u got mail. eom

Have figured out a trick to get Fidelity Active Trader to show real-time intraday charts of .TO stocks. Open an intraday chart window and leave it open. Current tick (only) will show. Additional ticks will be added minute by minute in real time. If you close the window, you'll have to start over again--at the then current tick. No history prior to time chart opened. Better than nothing. Of course, yahoo will give you a 20-minute delayed intra-day chart for free...

http://finance.google.com/finance?q=USDJPY

Carry trade looks like it's about toast. There sure are a lot of problems out there. Carry trade, real estate, CDO's & derivatives, the USD... hard to keep up with Goldilocks.

Look out, they almost have the XLF back to the open price. Amazing. Back 2% in a few mins.
My bet is it will be financials and utilities like yesterday.

craig- i would actually no problem starting to buying a few of the financials (C, WFC) for a longer-term horizon...so not planning any positions in SKF...

has the easy money been made in FXP/EEV/QID?->i don't think so, not by a long shot...don't think i'm the only person who sees 30%, 50%, even 100% moves down the road given the right scenario..."short with conviction" still a difficult frame of mind....but getting easier by the day ;)

cara100 WHR just moved into the rsi30 accumulation zone

C - Lawyers are wanting to get theirs too. Class Action fun begins.

Stull, Stull & Brody Announces Class Action on Behalf of Shareholders of Citigroup Inc.
Ticker Symbol: U:C

NEW YORK, NY -- (MARKET WIRE) -- 11/09/07

http://at.marketwire.com/accesstracking/AccessTrackingLogServlet?PrId=326791&ProfileId=051205&sourceType=1
Attorney Advertising. Notice is hereby given that a class action has been commenced in the United States District Court for the Southern District of New York on behalf of purchasers of Citigroup Inc. ("Citigroup" or the "Company") (NYSE: C) common stock between April 17, 2006 and November 2, 2007 (the "Class Period").

Stull, Stull & Brody has substantial experience representing employees who suffered losses from purchases of their employer's stock in their 401(k) plans. If you bought Citigroup stock through your Citigroup retirement account and have information or would like to learn more about these claims, please contact us.

The complaint charges Citigroup and certain of its officers and directors with violations of the Securities Exchange Act of 1934. Citigroup is a diversified global financial services holding company whose business provide a range of financial services to consumer and corporate customers.

The complaint alleges that during the Class Period, defendants issued materially false and misleading statements regarding the Company's business and financial results. The complaint specifically alleges that: (i) Defendants' portfolio of CDOs contained billions of dollars worth of impaired and risky securities, many of which were backed by subprime mortgage loans; (ii) Defendants failed to properly account for highly leveraged loans such as mortgage securities; and (iii) Defendants had failed to record impairment of debt securities which they knew or disregarded were impaired, causing the Company's results to be false and misleading.

On November 4, 2007, Citigroup announced significant declines in the fair value of $55 billion in the U.S. subprime debt exposure -- a revenue decline related to these declines of $8 to $11 billion. Later that day, Citigroup announced the resignation of its then-current Chief Executive Officer ("CEO") and Chairman of the Board of Directors of Citigroup. On this news, Citigroup's stock collapsed to open at $36.00 per share on November 5, 2007, a decline of 5%, from November 2, 2007, and a decline of 25% from October 12, 2007.

Plaintiff seeks to recover damages on behalf of all those who purchased or otherwise acquired Citigroup common stock during the Class Period, which is between April 17, 2006 and November 2, 2007. If you purchased or otherwise acquired Citigroup common stock during the Class Period, and either lost money on the transaction or still hold the securities, you may wish to join in the action to serve as lead plaintiff. If you purchased Citigroup common stock during the Class Period, you may request that the Court appoint you as lead plaintiff no later than 60 days from November 8, 2007.

A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as "lead plaintiff." Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain Stull, Stull & Brody, or other counsel of your choice, to serve as your counsel in this action. Stull, Stull & Brody has litigated many class actions for violations of securities laws in federal courts over the past 30 years and has obtained court approval of substantial settlements on numerous occasions. Stull, Stull & Brody maintains offices in New York and Los Angeles.

If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Tzivia Brody, Esq. at Stull, Stull & Brody by e-mail at SSBNY@aol.com, by calling toll-free 1-800-337-4983, or by fax at 212/490-2022, or by writing to Stull, Stull & Brody, 6 East 45th Street, New York, NY 10017. You can also visit our website at www.ssbny.com.

Attorney Advertising. Prior Results Do Not Guarantee A Similar Outcome.

Contact:

Tzivia Brody, Esq.

Stull, Stull & Brody

Email Contact

toll-free 1-800-337-4983

fax 212/490-2022

TREND PORTFOLIO

November realized gains of $14,770.
Winners IBN +14%, SU +14%, ECA +15%, HDB +17%, VIP +11% - Losers CTSH -19%, YHOO -13%, CSCO -8%, ATVI -8%, ORCL -7%. ECA and SU were sold today as I had tightened stops to protect gains.

Current Holdings - 2 longs, 19 shorts. all but 1 of the shorts is profitable. Best shorts held so far are SBUX +12%, KSS +15%, HOV +18%.

Transactions - http://tinyurl.com/2hd44p

Constructive criticism welcome.

From Shark, lost at sea:

"I am out here reading this, I can't log in to
Typekey, and that's basically the only reason I'm not blogging. Let everyone know if you can.

Chris"

Great moments in investing wisdom:

"You should be buying things and accept that they're overvalued.......that's how you make the money." - Jim Cramer 10/31/07

:^)

Bill,
There are lower highs.

But I also identified two ranges. If you draw a line just above 836, and one at about 827.50, then a third line at about halfway, 831.75, then exlcude the two upward spikes, you can see two ranges develop. One larger range between the outside lines, with several swings between them, and another tighter range in the upper half.

Before this last drop down I placed a buy order at 828, just above the bottom of the range. I got filled right on the kangaroo tail and it started up. It reached the mid-line I drew, where it has been consolidating. To protect the gain, I placed a stop at +2.50. If the upward movement breaks down at the halfway point, which is support/resistance, I get $2.50. But it looks like it is just breaking out of the congestion.

I have a 'sell 2' order just below the top of the range, at 834. if it breaks through, that's OK. I take 6.00 out of the channel. If the range holds, I expect to be short one back down to the bottom.

I hope that makes sense. I'll try to post a picture somewhere.

Marketwatch headline:

"Tech races banks to bottom"

Can I take a moment and point out that when I mentioned shorting commercial real estate yesterday or the day before, Leisa instead directed me to Tech?

man, she's good.

Bill - molszews
http://rsi.korvus.net is still up and running courtesy of community member Korvus.

2nd, C and most other financials are something I'd stay as far away from as possible. With their level 2 and 3 exposure, and who knows what leverage, it would not surprise me to see C drop to near 0. Just as with GM, however, another stock with little reason to exist, that may never happen.

Trailing stop triggered yesterday for Minco Silver [MSV.to] in my retirement account and triggered today for my margin account. Cash holdings are at 95% and waiting for the prices of a few stocks to come to me. Tax loss selling this month should give us some good buys. Appears rubber band has snapped back a bit.

Trading aspect: looking for 30 to 90 day Canadian stock trading opportunities. [025]

Re the question from molszews re the RSI indicators. The contributor updates this each evening and his efforts are much appreciated. He even shows how many days a stock has been in the distribution zone and when a sell signal was triggered. You can access it at:

http://rsi.korvus.net.

HELLO,

Question:

Anyone holding UNG over the week end?? Or following the rule of Flat at end of day. I am holding for a few days now and looking for an exit..

Opines will help.

Thanks much.

PS. Holding ABX $40. Puts and am comfortable waiting.

http://tinyurl.com/ysfb2w

Here it is. The yellow lines are the boundary of the range, with one bisecting. If the chart went back further you would see quite a bot of trending in that area, as well as the full range. The blue dot is my buy order that I set as the chart was falling.

The red line is the stop I set as it was congesting at the midpoint, to preserve $2.50 of gains. The green line was my take profit, but instead I placed a lower 'sell 2' (the pink box) which will close the trade and open a short trade for the ride back down. I'll set stops and PT for that once it opens.

Since there are lower highs, I may not reach the close point. I'll push my stop up to the mid-point pretty soon, in case that happens.

I hope gold settles into a nice 10-20 dollar range for a while. I'm ready.

I agree, SiO2.

My SKF target of 100+ has been reached and I'm still holding 75% of my initial purchase.

My new target is 200. :^)

I've been short tech via QID since 1490 was broken on the S&P. I just covered. The QQQQ is below the bottom bollinger band, so probabilities are much better for a snap-back rally rather than immediate continued downside. If 1450 on S&P broken I will put it back on.

I also would like to point out that this type of spike down below the bottom bollinger band is expected from a broadening top formation, which the QQQQ have developed over the last month (to my eyes). I also see a broadening top on a five month timeframe which needs watching. I will short any relief rally as these stocks are way overvalued. Three of Google's ten largest advertisers are mortgage companies.

My pushed up stop was triggered, after which the rise continued. 2.85 captured, but is there a lesson there? I'm leaving the sell order in place for now. If it triggers, I'll be positioned short.

New HOD for R2K, IWM just ticked above 77.2

2nd,

MNTA finally showing a pulse. Maybe the worst is over?

Regards

A while back some newsletter I saw recommended Premier Exhibitions Inc. (PRXI), the company that is doing the Titanic salvage/exhibitions. It has since dropped about 30% or so, and while I wouldn't attempt to catch the knife here, the ratios on the company look pretty sweet (30% margins, 38% roe, no debt, lots of cashflow, 24% insider ownership).

Does anybody follow this company? Took a big hit a few weeks ago but don't see any news that might have caused it. Recently announced 1M share buyback, which is 3% of float. Has a fairly large short position on it though. Just flew too high to fast?

Any comments would be appreciated. And yes, in case of recession, they would sure take a hit...

I liked WGW much better when it was WGDFF.

Since people have been advertising my RSI site for me, I thought I should post an update. I've been working on a new version that lets you enter your own ticker symbols, since that's been my most common request. The new version is up now. The zone calculations are still not perfect, and the new version is slower than the old version, but it's getting there.

One request: if you enter a ticker symbol and it doesn't show up, please don't keep entering it and hitting "Go" again hoping it will work. If it didn't show up, there was some error either retrieving the data or calculating the RSI, and if you try to get it again, it will hit the Yahoo Finance servers every time, unlike the successful calculations where it will cache the results for a few hours. I'll fix that in the near future, but I've just been too busy at work lately to work on it. I just don't want to have Yahoo block me because I keep requesting invalid tickers. :)

Anyway, here's the new URL. The old version will continue to be updated for the foreseeable future, so keep using that if you prefer. Any comment/suggestions can be directed to me via email at my_username@my_username.net (with my_username=korvus).

http://rsi.korvus.net/RSIApp/RSIApp.html

Awesome, korvus!

Thank you so much!

Korvus, wow. speechless.

korvus - Nice work. Thanks for the link.

Just note that ETFC was recently dropped from Cara 100 (Replaced with IBKR I guess).

Hello Cara community,

Not sure if any posted this MSN article on manipulation/fear mongering/insider activity by HBBB, but Bill's been talking about it for a while. I think the members here will be interested but unfortunately not surprised by the 4 examples listed:

http://tinyurl.com/2d9x8p

korvus- great work, my friend..

Korvus,
Agreed, this is a really nice tool. Thank you!

Korvus great work.

Fording Coal has taken it on the chin because they sell a commodity in US dollars..

So all we need to find is a Company that sells in Canadian dollars but has their expenses in US dollars..Any ideas?

Great job Korvus. Thanks.

You the man Korvus!

MNTA- BH, i'll need to read more about the company...it's not clear to me how big a play it is...enoxaparin, dalteparin, and Copaxone are all drugs currently available, and from the little i was able to glean from scanning the company profile MNTA is somehow trying to obtain approval for biotechnologically enhanced versions of the same drug...if there's clinical value or therapeutic advantage to doing so, then it's certainly a long-term play (look how far MDCO was able to jack up their stock price with essentially one less than unique product in 2004)...

adding to QID/FXP/EEV into the 2pm rally...

Bill -

I can display the alert price and date, but first I need to clean up how I calculate alerts (it's an estimate right now, though I believe it to be a good one).

Perhaps you can help, since it's your technique I am basing my calculation on anyway! Right now I calculate weekly RSI using weekly data and monthly RSI using monthly data. So I only have one monthly datapoint per month and one weekly datapoint per week. When I look back to see if all three RSI values are above 70 (or below 30), right now I assume the monthly and weekly RSI haven't crossed that threshold in the past few days, so I just use the current monthly/weekly values and determine the zone based on what the daily does (for example, if the current values are d:60/w:80/m:85, and I saw the daily value was above 70 four days ago, I'd mark it as a sell alert four days ago). That should work in most cases, but a sharp enough move could cause my program to miss an alert.

I'd really like to use the real RSI values from the time, but I don't know if I should use the last calculated weekly/monthly RSI value (so I use the weekly calculation from last week for M-Th of this week), or calculate the weekly/monthly value I would've calculated on that date (using the weekly data for all but the last datapoint, for which I'd use the daily price for that day), or if I should find some way to continuously calculate weekly/monthly RSI values (though I suspect that would make my numbers stop matching up with other services online, since I'd be using different data).

I suspect the "right" way to do it would be the second way (since that simulates what would happen if you went to my RSI page every day, wrote down the daily/weekly/monthly numbers, and watched for them all to go above 70 (or below 30). But I'd love to get some opinions on it before I change my program to use a different approach.

Thanks for all the positive feedback, everyone!

Jeff

Korvus, TAKE A BOW!!!

Thank you!

2nd,

Actually, I'm looking at more of a short term play, buying into the panic selling over an FDA request for further information.

MNTA is (was?) highly thought of and sports a large percentage of institutional ownership.

It's a calculated gamble that might just pay off big. Up about 9% today....hope it's not just a dead cat bounce.

Regards

2ndave

just added to my short qqqq's Dec 51 puts...

Looking for a fall from here...we shall see..

Korvus,
Thanks for the great program. Hopefully, I'll be able to help you with something in the future!!

Rob.

For the believers of the Rule of Four, we had our first 13K test on the Dow today and a second 1,450 try on the S&P. Having been a reader of Cooper's public articles for a bit of time, I am puzzled by the coherent and convincing cases he makes using what appears to the novice's eye quite outside-the-box Gann-ish tools. So I thought that would see if it works in this cycle.

JML

QId: small position at 39.40

mikede wrote:

"So all we need to find is a Company that sells in Canadian dollars but has their expenses in US dollars..Any ideas?"

Canadian NHL teams will be making money since they pay salaries in US$ but revenue is in Cdn$. Not sure about the other sports but I'm guessing it's the same.

JPM announces more mortgage losses....say it ain't so!

Nibbling on SKF. I think they use the political trick of announcing all their crap on Friday afternoon so it blows off by Monday. There isn't any good news for financials.

Korvus,

You rule man.

Keep cool as a cucumber!

ALOHA !!

LYSANDER MINERALS
LYM.V LYMCF.PK

I have owned this one since 2005 and have been accumulating ever since on dips. For a long while not much news but now that Teck Cominco is involved things have picked up!

Total shares outstanding is 19mil fully diluted and much of it is in management/friends/family ... strong hands.

Latest news is the "spin-off" of their Lorraine JaJay property that Teck Cominco is now drilling as part of their JV. In fact Teck Cominco has stepped up funding and drilling(see news release). Teck Cominco has told Lysander CEO, Don Mustard that they consider the Lysander properties their NUMBER ONE exploration properties in North America. Teck Cominco also has another JV with Lysander on the Pinchi property. There is also another JV with Cadillac Mining on the Osilinka property where drill assays will be announced the first week in December.

So why all this Teck Cominco interest in Lysander properties? Its called the Quesnel Trough ...

Here is a link to info on the Quesnel Trough and Don Mustard is quoted many times. This was published back in April 2005 when I first got involved with Lysander. It is published by Northern Miner ... After reading this info
you will come away saying this article is even more timely now in 2007 in relation to "country risk" in the mining industry and in terms of Lysander's large land position.

Link to Quesnel info: http://tinyurl.com/2yl2on

The "spin-off" will make the Teck Cominco Lorraine and JaJay JV a new company named Lorraine Copper. For each share of LYM you would get 9/10 or a share in Lorraine Copper. The cut-off record date to be in the spin-off is Dec 7th. I was advised it is best to complete any buy-ins by the end of November. Some brokerages it takes at least 3 business days to settle a trade listing you as the recorded owner.

I have waited to mention this company until the spin-off news came out. For awhile I was not sure it would actually happen. Now I know it is ...

LYM website: http://www.lysanderminerals.com/s/Home.asp

I would say that buying in below $0.40C is best. Right now the ask is at $0.35C, but any measurable buying will move that up. Problem is that when so many strong hands hold a stock that has so little float the price moves can be fast and steep in either direction. Ever since I have owned this company I have never seen a big selloff in terms of volume. People know what they have here ...

I am sure some selling will occur after the "spin-off" but who knows what prices will be then?

As always do your own due diligence. As I have pointed out before all junior exploration companies are risky ventures, some more than others. The risk with Lysander is getting less as each drill result is announced. I urge you to familiarize yourself with the location of the Lysander properties at the Quesnael Trough. Their DCC(Duckling Creek Complex)is one of the largest properties. There is no 43-101 here yet, but the major players are here! A lot of you will pass this up just based on volume and that's okay, we all have our own criteria. Obviously this company is not on anyone's radar screen except Teck Cominco!

I hold six figure shares, so I am all in on this one!

Craig,

IMHO, this is the PPT pumping freshly printed, fake money, into the banking stocks, in a last ditch effort to save the S&P.

I'm also looking to add to SKF.

Good luck.

ETARD account frozen again...Man this sucks..

Seems to slow down everyday around now...

RE GFI - got a good plug on Fast Money 2 nights ago and it's up over $1 since then (not sure if relevent at all).

Don Coxe this week saying at this point in the cycle, new funds for commodity investing should be going into golds. Base metals are more economically sensitive and would be hurt more by a recession (would be the best buying opportunity for next ten years though).

Bill,

"I don't know what happened to the
contributor you referred to re the
M-W-D RSI for the Cara 100."

The daily updated list based on EOD
data is available at
http://www.tradersquest.de/cara100.html

Since I live in Germany the update of
the list happens at 6pm or 2am EST,
respectively. If someone would like to
import the list into a spreadheet program
for further analysis please let me know.
I could provide the list in CSV format.

Olaf

QID- rounding out a 3/5 position @ 39.34...
the day-trading's getting old->adding on pull-backs and o/w holding for a target in upper 40s/lower 50s...can't rule out an ultimate target in the 70s/80s, but know thyself->don't think i can hold out that long...

Re. Decisions based on weekly/monthly RSI

Jeff -

I wrestled with the same problem a while back when looking to simulate the performance on indicator-based systems using historical data. My conclusion at the time was that one must adopt the most stringent method i.e. calculate the indicators as if each date was the last in the data set. The major question then becomes whether to favor calendar period (i.e. use week/month close except for last datapoint) or a moving lookback (each weekday/day-of-month calculated separately with appropriate approximation for holidays) to capture a consistent interval between datapoint.

As an aside, Yahoo Finance data before 2000 are a hodgepodge where historical quotes for some dividend-paying stocks are adjusted while other are not. Without serious data processing decision might be somewhat distorted by faulty input.

JML

Jumble -

I am very impressed with Jeff Cooper as a technical analyst. I've been reading him since he first joined Minyanville about 6 months ago. When the correction kicked off in June he immediately highlighted the possibility of a mirror image of the w-form correction of March with the kicker that a new high would be printed and then immediately sold. That is exactly what happened. With the September rally he was highlighting the possibility of a crash, which obviously didn't happen but was possible. He then predicted that the S&P would print a high 7 points above the July high as a mirror image of the low in 2003 that was 7 points below the previous low. This is exactly what happened.

Unfortunately Jeff's articles are now behind a wall in a premium service revolving around him.

Cooper is a disciple of Gann, who has some truly unorthodox methods, but Gann is a legend. The WSJ challenged Gann and in a reporter's presence Gann made 30 trades of which 29 were profitable.

Bull Hunter -

Don't discount (i) a bunch of momentum players unwinding shorts before a weekend and (ii) market makers are likely net long from a whole lot of institutionals throwing their financial stocks out of the door (so a quick squeeze to dump their extra load).

In a bear market, you MUST see Friday afternoon short covering rallies b/c fear is the bear's friend, esp. for financials where the Fed can always cook up some public bail-out plan over the weekend (and Monday's bank holiday). I read somewhere that a bear market dies when shorts are too emboldened and lose the fear of feeling squeeze pain.

JML

Looks like this Friday's late afternoon rally has been delayed by rain (?)

ronbon

Gotta love Rob McEwen. On BNN, he just predicted gold at the end of 2010 will be $2,000 and could be as much as $5,000 per ounce.

QID from 39.34 to 40.36 in the blink of an eye->that's the kind of move i'm trying to preserve with buy-and-hold...

Fred

Rob MacEwen interesting, gold $2000 - $5000, in 2010 . If true I wonder what the USD will be trading at then.

Looks like the FED's fake money couldn't stop the swan dive into the close today. Congrats to everyone who's short!! This could mean the public finally beat the specialists because, as I mentioned a few days ago, the short interest ratio is near a high with public short interest more than double specialist short interest!! We can only guess what will happen next week.

Rob.

Good points, Jumble.

Thanks for your input.

Have a great weekend!

Wow! This market is a freight train south. Next week will be interesting. Is today's late selloff a hook for a rally on Monday or is next week going to be brutal?

Anyone see the news that State Street is liquidating the collateral for a CDO? This creates a price for some level III assets. Some HBB's have level III assets in excess of their capital.

http://www.minyanville.com/articles/index.php?a=14812

Every year that ends in 7 for the last 150 years has experienced a financial panic, and this year is no different. It looks like it will get worse.

Charts are looking really ugly on the long side and those last three candlesticks, not good.

However too many people thinking of going short here, so probably expect a little rally back to some now declining MA's. That would be were I'll be looking to reload some shorts.

Still holding some QID, hesitated around that 2-3 PM little rally but held on.

What a great day for QID players!

Even SKF ended green.

Thank you Bill & Community for helping make this week a profitable one.

Just want to thank Korvus for a wonderful tool.
I use your RSI everyday.

Moab,
Maybe the ratings agencies are starting to get scared and are going to rate things accordingly from now on. That State Street article looks like a really big deal that could make this week's bloodbath look like a picnic. I don't see how anyone would be willing to buy any CDO's or SIV's for any price especially since they are based on trust, which is evaporating quickly. It makes me wish I had tons of SKF!!

Rob.

What a frustrating day.

Giant selloff first five minutes followed by massive buying throughout the day...then a thirty minute selloff making me think it's longs who are too nervous to hold for the weekend.

At least I was able to add a little SKF although my CTX shorts killed me today.

Just too difficult to have great timing when working the day job.

What a frustrating day.

Giant selloff first five minutes followed by massive buying throughout the day...then a thirty minute selloff making me think it's longs who are too nervous to hold for the weekend.

At least I was able to add a little SKF although my CTX shorts killed me today.

Just too difficult to have great timing when working the day job.

Followed up with a double post. I should have just stayed in bed!

Nice move on the ultras everyone!
Aside from the QID I bought a 100 shares of SKF @95.10 and was underwater for a while, but I held out for the finish and took a good buffer into Monday. I'm watching for more nasty bank/financial news, probably well into the aftermkt.

Bill,
I'm off to Cara 100 COSTCO to pick up a bottle of 2005 Catena Argentinian Malbec. A young wine but a nice buttery finish. Should cellar well.

Enjoy the evening everyone!

Ratings companies have lost most of their credibility. It started with rating HBB's triple A because of a belief that they were "too big to fail". And now we have downgrades directly from AAA to CCC-. Beyond absurd.

Read this by Mish:

http://globaleconomicanalysis.blogspot.com/2007/11/any-credibility-left-at-fitch.html

Key points:

"Fitch is explicitly admitting that it is making rating decisions not on merit alone, but on perceived implications of what a rating change might do to the company being rated.

Earlier this year Fitch Disclosed Its Fatally Flawed Rating Model was based on an assumption that housing prices would rise at a steady rate forever."

I think loss of credibility is going to spread across the economy.

BH- what a rush-> 2nd chances...that's what i love about the mkt...nice double-digit move for your IRA ;) have a nice weekend..

BH..make that double-digit % move for your IRA this week...

JVS3 Remember what Bill Has Said...THIS IS A DAY TRADERS MARKET...

Today is a perfect example...Look at the daily swings in the last two days..I was sitting on my hands all day...Then When the qqqq's were trading around 50.90 I shorted...and picked up 50% return on my puts...by the close...

You can only initiate day trades in this market...keep stops tight and DO NOT walk away from your computer...

Too hard to put a trade on the day before and hope when you get home the next day you are still in the money...

For longer term I am playing this market short in my retirement account via the QID...I have been building a position by buying small amounts from 36.00 all the way down to 34 and change and am now selling a little on the way up...Been buyin the weakness and now selling the strength...

Like I have said before for the last 6 PLUS years the BEARS have been getting killed every pullback has been bought and the market went higher..

Now that the tables have turned the BEARS are afraid and I am too...You never know when DA BOYZ..Are going to start another short squeeze..

I don't think they have anymore ammo left to push this market to new highs, but I have said that many times before and the market went on to new heights...

That's why it's hard to hold on the short side...and easier to buy the weakness and sell into strength...

ETFC: A few headlines, just crossing: ETFC gets SEC informal inquiry. SEC probing co's loan, securities portfolio. ETFC sees higher write-downs than previously expected, says investors shouldn't rely on previous guidance, won't provide earnings guidance for the rest of the year.

JVS3

This is a DAY TRADERS market...No way to time entry and exit unless you are using stop losses...

As I see it, if you want to be short, try the double inverse funds..Right now I have QID..in my retirement account...

With only great luck can you buy the bottom and sell the top...I have been buying the QID from 36.00 all the way down to 34.00...I did not pick the bottom, but built a position...

My QID position is now up 12% from late Oct. Not bad work for two weeks...

Some people wait all year in their 401's for 12%..

What is great about the Double inverse funds..

You can trade them with the CARA model...Buy them when RSI turns up from 30...

If you would have done this with the QID..You would have been buying at around or below 36.00 MID OCTOBER and it closed today at 40.82...13 % in less than one month...One week if you would have bought last week

basketguy, I bought a ton of SPY puts this AM (SPY was the most overvalued followed by QQQ). Things went wild up and down all day, and were not looking good. Almost sold them, but I decided to walk away from my computer at 3PM and just came back. Best thing I did. Crazy!

Had you known when to switch from calls to puts during the day you'd have made a huge profit. How to do this on an intraday basis? Perhaps had I had straddles in place to start with and then moving in an out this could have worked.

all this talk about qid longs is getting me nervous. I just finished my best market performance ever for a 7-trading day period (and it was my birthday week)! I went home with half a position on qid that i put on around 3:20 this afternoon and am up on it $1300. but is the boat getting crowded? I expect market to open monday down in a bloodbath (thus the position), but the bloodbath might be mine if there is a big pop on qqqq!

Bill..

You know what's funny,,

I sometimes catch the FAST MONEY show when I am sitting in my basement playing cars with my son..

I can only handle so much SPROUT TV (He is two)

When the market is flying these guys have picks FLYNIN OUTA YOU KNOW WHERE BUY THIS BUY THAT THIS ONE IS GONNA FLY...

When the market is selling off, like now...they say..BUY THIS, BUT WAIT TILL THINGS SETTLE DOWN A LITTLE ,,,BUY THAT, BUT WAIT JUST A LITTLE..

To me it's just crazy...who do they think we are..?

Too think of it...I am better off watching SPROUT TV...WAY MORE INFORMATIONAL...

The otherday there was a girl teaching sign language and speaking spanish...

LETS SEE THOSE GUYS ON FAST MONEY TRY THAT..

At what time did you folks see this (JPMorgan warning about potential $40B markdowns. Bloomberg says it posted at 3:45PM. The stock did not move, how?

Nov. 9 (Bloomberg) -- JPMorgan Chase & Co., the third- largest U.S. bank, said it held $40.6 billion in leveraged loans and unfunded commitments as of Sept. 30 that are difficult to hedge and ``further markdowns could result if market conditions worsen.''

e-trade down big in after hours. Is this a place where I should still be doing business? Thoughts would be appreciated, thanks.

Ah, just as I thought. They come out with the bad news on Friday, late. BAC, JPM and Etrade all coming out with negative news afterhours.

Here's hoping everyone remembers how good the financials are doing on Monday AM as it should help the SKF.

" what are the TH's on CNBC saying these days?"

Bill,

After the market closed today, Larry Kudlow, looking and speaking like he'd just been brutalized with a railroad tie, enlightened the audience with this gem:

"The world economy is strong....that's why gold is strong."

The sheer brilliance of this man never ceases to amaze me. :^)

Also, my sincere thanks to you. Your bear market call (back in August?) changed my investment procedures, resulting in much improved returns. I should have been here since Day One.

Si02...

Days like today can be crazy...and very profitable if on the right side..

This week I was holding 4 November 136 puts with a cost basis 1.30. (I sold some way too early)Even a small position would have produced a nice profit by now.

I sold them up 100% but was thinking about a riskless vertical spread using one remaining put by offering a November 130 put (DAWWZ) short for 1.40. I would have been long a $6 spread for a 0.10 credit, meaning no risk and $600 of profit potential with DIA trading 130 or lower at expiration.

Sounded good and would have worked, but was holding way too many short positions and lightened up way too soon...

I am always learning and hope to get better at this trading thing...

mike
Your thought about hockey teams is dead on..but I don't think we can trade the leafs or the Canadians..but that is the idea that may work

basketguy,

Thanks. I was venting some frustration.

I parked my 401k in a non mrotgage mess holding money market fund because of the markets volatility.

I'm still learning to trade which is why I read Mr. Cara's site EVERY DAY including comments. Thank you all!

It's still rough to see the wild swings but I'm getting better at enduring it and moving in and out of the market.

I am up over 35% year to date and your comments regarding "Some people wait all year in their 401's for 12%.." helps put it into perspective.

Gotta Run

JUST want to thank all the VETERANS out there for their service..I enjoy what I have because of them...

VETERANS DAY SUNDAY NOVEMBER 11th..

bill mclaren:
The normal correction in a bull trend is 1/3 to 3/8 or between 1307 and 1273. This first leg down will likely run down to that level or marginally below it to the 20% mark at 1260 and bounce.
http://tinyurl.com/2g3cm2

Bank of America's turn to confess:

http://tinyurl.com/2lh3a4

MikeNYC - I think it was you looking for a chart of C back 1990 - here's a screen scrape from Worden's TC2005 chart, log scaling. Sorry it took so long.

http://tinyurl.com/2jfq9z

Gold eyes all-time high on currency crisis

By Ambrose Evans-Pritchard, International Business Editor
Last Updated: 1:13am GMT 08/11/2007

Mr Norman said the last $50 rise in the gold price has been fuelled by "hot money" that could prove fickle, but any correction will likely be short.

Are fund managers backing the gold rally?
Dollar crunch puts gold centre stage
When will gold really go ballistic?

Gold eyes all-time high on currency crisis

By Ambrose Evans-Pritchard, International Business Editor
Last Updated: 1:13am GMT 08/11/2007

Mr Norman said the last $50 rise in the gold price has been fuelled by "hot money" that could prove fickle, but any correction will likely be short.

Are fund managers backing the gold rally?
Dollar crunch puts gold centre stage
When will gold really go ballistic?

http://tinyurl.com/2dknq5

Feeling warm and fuzzy after drinks and dinner at the Keg in Vaughan, Ontario this evening. Currently enjoying Beethoven's Eroica in the company of my good friend JT. Jackson Triggs Merlot from the Niagara region (the non Olympic edition) is seriously good wine.

Just want to thank Bill and everyone else for their contributions here.
Have a lovely weekend all!

When are Canadian retailers going to smarten up? A couple of weeks ago I wanted to buy a watch for my girlfriend. The watch manufacturer is located in Vancouver and I live an hour away. I contacted the manufacturer and though they wouldn't sell to me directly they did provide a list of local retailers who carry their product. I checked out these stores and the best retail price they offered was $225 Canadian plus tax. So, I went online and purchased the watch from a retailer located in Memphis. I now have the watch in my hand for an all in price including shipping and taxes of $170 U.S.. The watch was not on sale! Now I want to buy a digital camera. I've done my research and the $499 camera is boldly marked down $100 to $399 at a large Canadian retailer as their weekly special. On sale, it still costs $100 more here than it is selling for in Bellingham. Guess I'll be crossing the border for that too.

Fred, I would imagine it has to do with inventory being bought many months ago when the exchange wasn't as crazy. Hasn't the C$ moved something like 20% or more in just a few months?

But then, you always hear about lean inventories and Just In Time inventory control, so which is correct? I suspect the better managed companies with better inventory controls will be able to offer better prices sooner (Walmart?). But I totally agree with you, I feel like we're getting fleeced.

A girl at work just flew down to Bellingham and bought herself a brand new Toyota Sienna and saved herself over $6K. The media will have you believe it's a huge hassle and high risk. That's bull, she's got the full warranty and the flight + inspections cost less than a grand. So what, divide $6000 over a 2 hour flight, 1 overnight stay, couple hours at dealership and that's a pretty good ROI!

Besides, isn't Toyota supposed to use JIT inventory control? So why are we getting 2006 pricing? If I were in the market for a car, it would be a no brainer...

Stocks to go down 50-60%

Bear Food from David Tice (video):

http://tinyurl.com/2423rj

$INDU & $TRAN,
In October 1987 the industrials closed below the 200d sma and it was confirmed as a sell signal along with the fact that the transports were also below their 200d sma. The crash happened because so many people were using mutual funds and also using the Telephone Switch Newsletter. The Dow closed below the 200d sma on Thursday which called out for a sell on ones mutual funds on Friday's close. I sold out, but most did not get the message until Friday which had them selling into Monday's close. The mutual fund redemptions and the selling of stock by mutual funds caused the crash. We are not in that same situation now, but Dennis Gartman has a big eye on the 200d sma as his que to honor the bears.

Wow!
I just found a way to get around typekey when one puts together a comment and then finds that you are not signed in losing your comment. I previewed the comment and then signed in on the preview page. Once signed in I back buttoned to my post and hit the post key. That was all it took. Maybe that is not a relevation, but it is for me.

I'm also celebrating the end of another week of trading with a bottle of wine, a local Riesling.

Considering that most Pennsylvania wine is of the rot gut variety, this one isn't bad, although, it won't put Germany out of the wine business. :^)

Cheers!

Another resonant quote from Todd Harrison:

"Today's end-of-day fray aside, it's worth remembering that we're in the early--dare I say first or second--innings of the credit unwind, one that will surprise alotta people in it's depth and severity. Please, please... please... keep that in mind when the screens jump green anew. The time to focus on risk is when the market is up and the time to scan for reward is when it's on it's heels."

Bill,

Funny, you should mention Binghampton, NY. Some of my best friends and favorite people in the world are from nearby Conklin. Did you know Rod Serling?

I live in Lancaster County, PA., smack dab in the middle of the Amish Country.

I remain hopeful for the American Empire, although, there are quite a few disturbing undercurrents going on in American society, not to mention our current leadership.

I'm a private music teacher by profession and can't help but notice the dumbing down of our youth, that seems to get worse every generation.

Despite my handle, I'm usually long and agree that we'll get thru this.

Thanks for taking the time to chat. I'm honored.

Cheers!

For all ValGold investors. A recent interview with CEO Stephen Wilkinson.

http://www.smartstox.com/interview/val/

Small world, I lived in Binghamton for a year after college, but not happy about the Sabres losing to the Leaf's. Earned my economics degree at Niagara and became a huge Sabres fan, I miss Hockey night in Canada with Don Cherry!.

stktrader -

Another view of the causes of the 1987 crash from John Succo:

http://www.minyanville.com/articles/1987-puts-brokers-dealers-1998-hedge+funds-futures/index/a/14497

And a view of someone who made a fortune during the '87 crash:

http://www.minyanville.com/articles/trading-1987-trader-investing+tips-good+investor-successful/index/a/14495

Highly recommended reading.

Good stuff, moab.

Thanks!

Thanks moab; there is always another view from a different level.

Fred,
The lead story on Seattle news tonight was about the auto dealers in Bellingham and the parking lot at the Bellis Faire filled with cars with BC plates. Come on down, you won't be alone.