Cara's Commentary & Community Chat, Mon., Jan. 12, 2009

[7:15am ET] A better TARP? A CNNMoney article asks an important question, but the public is skeptical.

Treasury Secretary nominee Timothy Geithner is working on plans to revamp TARP to include programs to prevent foreclosures and help cash-strapped municipalities, small businesses and consumers, two transition aides told CNN.

Lawmakers on both sides of the aisle have expressed unhappiness with the way Treasury used the first $350 billion to capitalize banks. They object to how Treasury made investments with few strings attached and no process for tracking how the banks are using the money.

They also are unhappy that none of the $350 billion allocated so far has been used to prevent foreclosures. And while problems facing credit markets have eased since the passage of TARP, the program has hardly been a panacea.

Consequently, leading Democratic lawmakers told Treasury officials that Congress would only release the remaining $350 billion if Treasury guaranteed that some of the money would go toward helping those at risk of foreclosure and consumers in search of loans for cars and homes, among other things.

On Friday, House Financial Services Chairman Barney Frank, D-Mass., introduced a bill that would place several restrictions on how Treasury may use the remaining TARP funds.

Frank said in a statement that his legislation “will strengthen accountability, close loopholes, increase transparency and require Treasury to take significant steps on foreclosure mitigation.”

For starters, Geithner played a leading role in the decision to recapitalize banks, and which banks would be recipients of the taxpayers


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Chickenpookie
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Chickenpookie
Chickenpookie
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Chickenpookie

“Down considerably”

Chickenpookie
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Chickenpookie
Chickenpookie
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Chickenpookie

mrking – keep posting, sounds like you’re system is working and that’s hard to beat!!!

Chickenpookie
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Chickenpookie

Here’s what John Hussman has to say about durations:

http://tinyurl.com/8px92s

jack black
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jack black
jack black
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jack black

Congrats on your system. I also started swing trades in ETFs several weeks ago after realizing that buy and hold is dead now. I was lucky to have mostly wining trades too, but sometimes after willing to seat on underwater positions when my entries were early (quite typical of my trades). Another difficulty is an exit strategy as I tend to leave a lot of money on the table exiting early. Any advice on exit strategy?

vinod
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vinod

put order to buy UCO at 11.00 and GG at 23

Ron Sen
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Ron Sen

http://tinyurl.com/8z6kg4

A look at TD Range Projections ™

Ron Sen
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Ron Sen

http://tinyurl.com/8z6kg4

A look at TD Range Projections ™

alberio
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alberio

Mrking, nice trade. I was wondering how you were able to find it?
stockcharts doesn’t provide hourly scans or do you some other type of program?

ovidet
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ovidet

nice picture:)

mrking
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mrking

I retired at 55yo 3 years ago and have spent a lot of time studying the technicals and have not felt comfortable with it until lately. I am a very simple guy, no puts/calls…just wanting a way to get in and get out, make some money with minimum exposure. I have settled on a simple, but so far effective strategy using MACDh and RSI, adjusting values to fit my comfort level. I have had about 95% positive trade results so far and avoided many false trade traps. My latest was DXD (500 shares) bought last Monday at $50.74 and sold… Read more »

loannetter
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loannetter

So how just how do Madoff and predator cronies escape some level of justice vigilante or otherwise? Bernie isn’t leaving his 6 million dollar penthouse according to NPR. He’s still handing out emeralds and Rolexes. They say he has no friends left (!) As I enter the data from my teachers and nurses IRA’s and pensions into their loan applications I wonder if their money is actually there still…..

Chickenpookie
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Chickenpookie

greg – BAC – I was just thinking out loud, but I’m glad you’re happy about your decision. I didn’t sell by the way but probably should have… the position was initial, so if it bottoms and BAC doesn’t cut their divy I might add to it…

Or, better yet I should’ve taken profits a few sessions ago. We never bat 1000 on this field!

Chickenpookie
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Chickenpookie

nemo – “Perhaps there won’t be a radical shift, but there seems to be no doubt the progression is towards a changing of the guard.”

Bingo, that must be the goal. It sure explains all the secrecy and underhandedness we’re witnessing and why 10% of the people control 90% of the wealth.

Chickenpookie
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Chickenpookie

If we were to draw a 30yr trend line on the S&P, it looks like it would intersect the 750 level, which is where we were back in Oct.

Chickenpookie
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Chickenpookie

“Maybe that’s all it is, trying to ski the black diamond trail I somehow ended up on without the necessary skills.” First I pay for my lift ticket in advance then head for that black diamond trail first thing after putting on my skis; just to look down and see what all the fuss is about. Yea, I’m a risk taker and I’ve got a few scars but never any broken bones… You have to choose the slope that best suits your needs, starting first with careful consideration of your responsibilities and moving on down the line in order to… Read more »

nemo
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nemo

Well Dr. Cosa, If we believe in cycles, Ecclesiastes, Yin/Yang, it was not all that long ago that China was the largest economy in the world. As a rule, they focus extensively on education. I believe their ethnic grouping makes up the largest sub-population in the technical disciplines. That is, those disciplines that actually produce something. It is true they hold a large amount of US debt and therefore, some of their wealth is ephemeral at best. However, they do appear to be waxing while the US is waning. Perhaps there won’t be a radical shift, but there seems to… Read more »

2nd_ave
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2nd_ave

Mac- “At this time I am having a much easier time making portfolio decisions which will come to fruition in the longer term (2-5 years) than the for periods <2 years.” vinod- “..unless I take the risk I am not going to make money in market. So, I am going with my hunch and feeling about market based on reading of general news about market.” I feel the same way. Not being someone who uses technical analysis, I can only hazard a guess that TA has not worked well recently, as almost every post on the subject has lacked the… Read more »