and a 1.75% selloff the next day in order to level this field--we've come down 15% from the peak.
I think we hit capitulation today, and have an aftermath tomorrow to work through, and some dribs and drabs Wednesday. Bernanke will show feet of clay tomorrow, it won't be pretty, and just about as effective as Barack Carter Obumma today.
It's a mess out there, and fixing the banks won't straighten us up to fly right. Some of the next tarp money gets to joesixpac, we've a chance, but we're printing money for the wrong guys.
"Thanks, and a hat tip...".....OUCH...what a greasy old timer. What a bogus pseudo-intellectual. What a God awful, repellant Idjit!!! Ought to be hung by the ankles and just whipped like a horse thief. Get a life, jackass.
This is a great board. I enjoy reading all posts, when I can. Us older posters may have a lot of experience, but even if the new or younger ones don't, that OK. Don't worry if your post may have a hole. Many of my posts, YDM and other regulars - sucks at times.
SLW defies the drop in the POS and acts like a stock instead of silver proxy.
That's great. The only thing I am concerned about, is Bernookie hasn't any rabbits he can pull out of his hat, other than saying interest rates will remain low for an extended future beyond a few months. He's out of bullets, the banks aren't of issue like they were in 2008, and he can't run through the streets throwing dollars out the door to joesixpac.
This economy needs some VIAGRA, that isn't the Fed's charter, and any sense of backpedaling will send the market back over a cliff.
It makes me very nervous when the market depends on DADDY instead of its own progress in spite of the slowdown.
If this is Bernanke against the S and P, there is going to be some more blood to be let.
On the otherhand, there may be, some mollifying of the fall.
But I think the air is going to come out of the market at 215 PM EST. I can't figure or find what rabbit he can pull out of his hat to make the blues go away, and I am prepared for a double slam.
The Bernancke is not out of bullets. He can start charging banks interest on reserves held at the Fed. That will encourage banks to start lending (not all will). Velocity will pick up and inflation will heat up. I suspect that's the next QE as it will expand the money supply through fractional reserve banking.
Do you have 2 side by side computers and any FX accounts. If you do, let's team up some night and made some trades. I did this 3 times with a board member here just over 2 years ago, and we made some serious money. He disappeared almost two years ago, and never answered any e-mail. I hope that he is not dead. Think about it. It is easy to trade with a partner, and I have traded with some of the best ever.
Did I pay you for this post yet in gold? I am short everything, but gold. silver, some currencies and some futures including rubber. The FED just lost a trillion in capital gain taxes. Good luck.
My general market shorts did me well twice. Thanks to the flash crash yesterday and reloaded at the close yesterday. - previous posting on Sunday. The same with metals. SLW, NG, and EGO are my favorites for more upward movement. The US and most of Europe is finished - currencies. Don't listen to CNBC.
i already said inflation is not the real problem.
The problem is WHO gets the inflation money first.
the problem with inflation is that it always goes to the people that never deserve it in the first place aka BANKSTERS.
follow ron paul advice is you must inflate give it to every man woman and child and have them spend it evenly.
simple and done.
cut everyone a free check NOT A LOAN unless it is 0% for ever like the banks.
cut us checks for 1 million bucks each and we can pay off all debts done. those that dont can just default and keep 1 million and buy another home or start businesses.
problem is dollar is worthless if they dont invest wisely they get screwed by the inflation of course.
yes you need to print then. They openly admitted it already just do it.
BUT GIVE IT TO US CITIZENS NOT banksters first.
then we spend and tax gets given back. BTW gov should not borrow for this they should just print.
After wards retire the worthless dollar and back it up with real currency like gold/silver or backed commod money
from now on never borrow again.
Done problem solved