[7:52am ET] I have yet to hear a logical explanation as to when the financial system crisis will be over, and why. But the more I read leads me to believe it could take a couple years.
The IMF, which is doing research in this area, has published an extensive paper called the Global Financial Stability Report. Here is the link to Chapter 1:
http://www.imf.org/external/pubs/ft/gfsr/2009/01/pdf/chap1.pdf
The IMF website contains the links to all chapters:
http://www.imf.org/external/pubs/ft/gfsr/2009/01/index.htm
IMF summarizes their report’s opening chapter as follows:
Systemic risks remain high and the adverse feedback loop between the financial system and the real economy has yet to be arrested, despite the wide range of policy actions and some limited improvement in market functioning. Further effective government action
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This morning I was stopped out of my 500 MOO at $29.25 (bought it at $29.35 Tues) and picked up 1500 EWM at $7.81 and 1000 UYM at $14.31. I was making money until the mutual funds dropped me to even for the day. I will view my TA tonight and determine any moves tomorrow. It is very hard to stay short, but I also think we are too close to the top to bail out now.
MK
Browsing for ideas from you mosquito bombers. Ditto BSI. I like the NG idea too. In at $6.07. It would be nice to make up some past losses in this puppy
long at 13.82. expect an RSI triple buy signal to be generated at EOD.
Do your own homework.
bsi87- OK, man. In @ 13.65. Good to have you back.
http://www.bloomberg.com/apps/news?pid=20601087&si…
http://www.bloomberg.com/apps/news?pid=20601087&si…
just so you know
I feel like Yamana’s definitely going up more just cleared my mind. Will re-purchase either lower, or if/when it clears 8.03 minor resistance
Also, if it warms up I really feel like smacking around a golf ball. Usually I pick the worst day of the week to do so, so gold probably WILL rocket higher.
Well there, we got our answer.
Why would you NOT be selling into this buying frenzy?
Fear and greed. in your scenario’s case, greed. I guess the buyers are hoping that wfc is the only healthy bank.
If you check Pascal’s effective volume on WFC, the large players are all getting out in the past 48 hours. As well as BAC.
Out of yamana for the time being…NICE move yo.
Shark- Nice one. Joining you on the gold/silver sidelines. 6% is close enough to my 8-10% target. I think if the market rolls over, the miners roll over as well.
yes, I’ve joined the club too. KGC and SLV were in the green and going sideways, so adios.
Enjoying the feeling of a cashed up account.
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no position yet
I got an e-mail on my account saying they were changing my sweep account from the TD cash account over to the TD Money Market. (No choice on my part). When I set up the account, I chose the cash account because the Money Markets were shaky at the time. So I’m just wondering if there’s more problems coming. The notice of the change came with all kinds of assurances about FDIC insurance protection. It seems a possible coincidence that they are moving all their cash accounts over to their money market just before the stress test announcements. Am I… Read more »
I didn’t receive any notice of a change on how they handle this. Hmmm.
Sell 100 shares TZA at 34 Stop Loss Day 04/23/09 Filled
04/23/09 10:25 Filled 100 at 33.89
Sell 250 shares KGC at Market Day 04/23/09 Filled
04/23/09 10:40 Filled 250 at 15.06
Buy 100 shares SRS at Market Day 04/23/09 Filled
04/23/09 10:43 Filled 100 at 28.57
Sell 100 shares SRS at Market Day 04/23/09 Filled
04/23/09 11:17 Filled 100 at 29.3592
Sell 50 shares SKF at Market Day 04/23/09 Filled
04/23/09 11:21 Filled 50 at 63.76
All cash at present, sold all positions in slv, kgc, dgp and dzz. It’s been a nice morning. I expect others did as well or better.
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Consider the amount of military keynesianism expended in the last few years, you would think that just about any company would have done well. Lately, the man who runs the corner store pointed out that he had made some money on MAL.TO. He kind of laughs at the gold investment thing, though I do my best to explain. MAL.TO had recently doubled on turning a profit. I thought I should mention it here, since the defense industry is getting some mention. So I looked it up: U. S. DEFENCE SPENDING BENEFITS CANADA The Canadian Press MONTREAL– Canadian aerospace companies should… Read more »
“In a speech earlier this month, Defence Secretary Robert Gates outlined the government’s spending priorities. High among them is support for the F-35 Joint Strike Fighter.”
A cheaper, multi variant, multi service aircraft that should help cut overall purchasing and maintenance costs for the life of the aircraft.
hmmm, sounds like its worth a quid betting on.
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I was watching GS go negative, and couldn’t believe FAZ was still down. Now, GS is going back up.
I was in FAZ @ $9.70, just sold @ $10.05. I thought it would be up more than 14 cents on the day with the Dow down 77 points. Who knows what the banks will do tomorrow or over the weekend ahead. I am still all in cash for now.
Kerry- I think you made a good move. I’ve lost all interest in long-term bets with the ultras.
Setting up base camp in 100% cash sounds good also. Ditto, apart from a position in SLW.
how much have you booked on FAZ this last couple of sessions. I’m still holding from the end of Tuesday, when things went horribly wrong. In the green right now, but too lazy/stupid to scalp for the extra moolah.
I’m hoping to hold for the definitive turn, or at least for Friday sell off, should it come.
Les- My experience with the 3x tells me (a) line drives beat home runs, and (b) 10-15 minute holding periods can work well.
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On how the Stress Test is actually scored:
http://tinyurl.com/c7pul4
Considering the growing unemployment, the weaker wages, the big debts, is it possible that people keep on spending and pushing the retailer shares?
Yesterday I started a rather big short position on XRT (retailer etf), but looking at the graphs it is really strong! Maybe is the deflation (specially about energy, gas, and interests) encouraging more consumer spending? And how long? Graph here: http://xrl.us/bep383
JMO
you can imagine how much they’re paid each year to make things go their way…
50% reduction in volume on WFC, which was pumping financials at opening.
Unreal. $4.88/share in $USD. Thinking hard about it.
“The Horizons BetaPro NYMEX Natural Gas Bull Plus ETF aims for investment results equivalent to twice (200%) the daily performance of NYMEX natural gas price”
I recall the contango argument from oil futures. I assume at this price you’re betting a reversal of fortunes sooner or later.
backwardation?
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I don’t think it’s J6P.
Would it be pension fund/mutual funds?
Or do we have it wrong, and it’s smart money buying the dips?
anyone buying? could be a volatile one today.