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Bloodbath
The correction, soon to be crash, is here: the market had a bigger relative open to close move today than it did on May 6. We closed at the day's lows on massive volume, despite definitive central bank intervention, regardless whether it was the SNB, the ECB, or the Fed. The central planners have lost control of the market, and all thanks to the inevitable collapse of hyper capitalist Keynesianism coming out of the formerly most communist country in the world. A day of ironies. And it's not over. Futures are already down another 4 handles. The correction is coming, and it will be a bloodbath. The Fed can not push rates lower. It will print. It is inevitable. It is our destiny.
Update: Futures now 7 handles lower. 46 point move in ES: that is almost a 5% move in the S&P for now.
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CalPERS lost $2 Billion today. Don't bank on your penions!
ok calm yer jets everyone - bloodbath is a relative term. when it starts raining blood - well then we gots a problem!! once we break the psychological low of 1000 - then look to the sky for them droplets....
The stocks that need to be hit, that aren't being hit are the banks. The overall selloff in the markets although needed, doesn't need to be carried out to extremes. The banks are the problem and they need to be slammed before anything else.
But rightfully so, the FED will print and print and print. QE 3.0 + 4.0 is coming, once it hits, the takeoff to DOW 30k, Gold 3k, Silver $300 will begin. Then we will see hyperinfaltion rattle its sword. Stocks will then be halted for trading permanently, then GOLD/SILVER will continue rise. This is how I see it all playing out.
Once hyperinflation peaks, then I'm going all in on PIMCO fund and sit back and reap 15% rates for life. Fuck a stock. LOL
Now that 1070 has been broken, tomorrow may be an up .05%, but Monday will be another jump off the cliff into the dark abyss.
Honest question: wouldn't that have required a CLOSE below 1070?
I knew one day SKF would pay off for me. I have banged my head against the wall for months. Finally, finally, finally, another $1.50 up and the taxman is off my ass. I can see it, I can feel it, I can taste it.
You should have went FAZ and that taxman would be praising you for your genius.
Sidelines is better than short, the algos would love to force you to cover.
Algos by now are schizophrenic, not even their masters can trust them.
They might be put down like rabid dogs.
So how long untill everything comes to a halt? Do we have days, weeks, months or what?
We have years, or decades. As long as we can borrow money on the international market, and still control the reserve currency we are ok. It's not until we can no longer fund our social programs without monetizing whole hog. People will never vote to cut their social security or medicare, in that way we are very similar to europeans.
I agree it will take longer than people here think. Various actual shock events along the way will seem sudden. But if there is a real deterioration into a depression, it will be more of thing where everyone wakes up from the fog two years from now and realizes that we are actually truly f**ked. Capitulation and acceptance in other words.
What if right now is that two years later?
the most frightening piece to this nightmare. Is it two years or tomorrow?
103 days
December 12, 2012
http://en.wikipedia.org/wiki/2012_phenomenon
My only losing trade today was my gold calls.
Thanks, JP Morgan jackasses! I hope you choke on it!
May calls, I'm guessing. They got me in January, so now I go longer-dated and only buy at the bottom of the channel. If the gold sector dumps here I'll take some losses, but I think everything's due for a relief rally here, and gold/gold stocks will outperform. Probably nothing good until after options expiry tomorrow and next week, though.
Do not even talk about calls! I am not even going to look at them, they are so dead they were killed twice.
Bob Doll saying "nibble into some cyclicals"
Bob Doll needs to be eaten by an angry mob of retirees.
My father in law is confused and worried. He commented to me today that he worries that I've gone from a Hedge Fund trader he knew 5 years ago to a Rambo wannabe today... Instead of "small talking" with him about the best trading strategy, I chat with him about what .40 S&W handgun or what ammo is best. The fact that he always viewed me as a "pacifist", it really has him confused and worried. Then, I remind him that I am a pacifist, I'm just not a pushover...
Rich
People have always thought i was a little off kilter. Don't worry, the armed will inherit the earth.
No, sorry.
The crazy fuckers who can raise a personal army and who don't care who they kill doing it will inherit the earth.
History: It's not just for historians anymore.
+1 Not to spoil the ending, but it turns out the good guys don't always win.
Actually the good guys always win. Because whoever wins gets to write the history books and can say whatever they like about themselves.
See, everything gears together.
Sardonic bastard.
Excellent.
+1000
History does show that the crazy armed fuckers always take over. They usually pick on those least able to defend themselves. My insurance policy is primarily for self-denfense. What is the point of having either gold or food when it can be taken from you at gunpoint? I hate the idea of having to physically harm another human being. Thus, I am a pacifist. But, my army training and experience has taught me there are many who don't share my views and would not shed a tear taking what they want from those least capable of defending themselves. So, just because I hate the idea, does not mean I won't defend myself and my family from danger.
Rich
Your army training is perhaps now a liability. I don't know how else to say it. You do not have an unlimited supply of bullets, nobody will evac you in a pinch, you don't know who will be at your back when the chips are down, and the forces that you thought were on your side might turn on you and rip apart. You have GOT to think outside the box. Right now.
If things go badly, you will need speed. You will need to move very quickly and perhaps very far. You cannot stand your ground before the grinding machine of chaotic collapse. But you can outrun it, even if you have no idea where you are going. Constant motion is its own defense.
I am not being contrary. I am trying to help you see beyond the veil of the familiar into a land of new monsters. If things go that badly, there will be monsters you cannot now imagine.
Coug--In general terms, where would you go?
I'm in the PNW, in a relatively larger city. The notion of getting out doesn't seem better than staying, unless things get really ugly.
The hinterlands will be dangerous.
I will give you my instinctive answer: There is no place.
Need to get over the idea that somewhere out there, none of this is happening. Because it is happening everywhere. All the systems are tied together by shared constraints of energy, finance, governance and food production. We have piled up compromises we don't even remember negotiating. There are now too many gears, and they are all geared together, and they are all turning at once, and when they stop turning they will all stop. At the same time.
My advice at all times seems like nonsense, but it is what I feel is correct for a time when all the wheels stop moving: You keep moving, you move fast, and you gather what you can find as you move. Constant motion until new gears start to turn, then you know the lay of the land from having passed over it all, and you can move with the new gearing.
We do not have the correct language for this. But animals know how it works. Watch them, learn something. Be ready to move. Then keep moving. If it gets very bad you will then understand what I mean. Until then ... maybe not.
I think we're on the same page in that there is no place.
Thanks for your comments--they are always a pleasure to read.
It would be great to form some local "cells" of ZHers because my impression is that many of us are quite resourceful in a diverse way and in posession of a strong work ethic.. I'm a scientist by trade, but I've long considered increasing (extracuricular) skills as a better investment than most material things.
Scientist as well (though unpublished). Ecosystem Biology, mostly predator/prey systems and some work with Superfund cleanups. My "cat roots" run deeper than I care to admit. Perhaps those sinews will move me one of these days, when the sky opens and swallows the works of men. But until then, I'm learning and watching. All cats are scientists and every experienced scientist is a bit of a cat, when it comes right down to it.
Maybe I'll catch you on chat some time (I heart radiozero).
I admire cats--we just adopted another last month. I also had a humbling encounter with a real cougar when I lived in Boulder. Cheers.
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Thanks for the post! I found this information really useful and passed it on to a bunch of my friends.
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But alas...my two cents. By moving, you instantly become a refugee. If you can't shelter in place, then you should move to a safer locale before the events that you fear appear.
For those who say there isn't any safe place - I'll have to disagree. Vast parts of this country are lightly populated, community oriented, well-armed, and have decent local markets (read food and services) already setup.
Indeed. And if you now live in any of those places nice for you, you can hunker down and live of the land, defending it from the wandering hordes as long as your bullets hold out. If not, then you will not gain admission. And everyone is thinking the same thought, of leaving Point A and going to some Point B and they will all meet the same fate.
There is not a place if you are not already there.
Indeed x2.
Get thee to the Oly Pen or to the other side of the Cascades. Hinterlands won't be dangerous if you and your friends there in a small community have gunz and can aim.
the princess and the publisher. nice
I've never had that problem. Nope. Doesn't explain my callsign/handle/ID at all... ;-)
Bravo Rich! Why can't people see reality is something other than being positive or negative?
22% more prepared now than yesterday. It was a good day. Didn't get greedy either.
We still have not made that lower low, if we break 9800 on the Dow we will have that lower low. We may be setting up a large head & shoulder top on the daily chart with 9800 as the neckline. Time will tell.
I'm not a trader by profession so may lack some historical insights. However, I thought the drop in all indexes just before closing was incredible. It was like look away for a moment and then holy crap. Is this type of movement, given the time of day, time to drop, rate of fall, etc. unprecedented?
In a word ... "no." It is called heading running for the exits and it happened quite a few times from March 2000 to early 2002.
Anyone have the volume for NYSE and NASD?
Funds these days liquidate typically 1 day before options expiry so as to 'beat the rush' so to speak, so that could have been a lot of the action today.
At the fund i was at last summer, if you didnt close out the day before OpEx, they liquidated for you.
Also, any move into the end is typically exaggerated as ETFs and PMs need to re-balance their holdings based on the day's trading.
Help us Harry Wanger! You're our only hope!
I'm doing what I can. Like I said yesterday, I sold everything the first dip below 1110 and bought SDS at 33.15. Looks like I'll be in this trade for quite some time. The future's looking pretty awful right now.
Welcome to reality Harry - where the hell have you been?
Welcome back Harry. SDS looks like a good play. Good luck with it.
"The future's looking pretty awful right now."
I guess you "mispoke" three days ago (see below). Quite an amazing economic turnaround in less than a week....
by HarryWangeron Mon, 05/17/2010 - 09:54
#356260
Traveling home from Chicago. If there were any doubts about the consumer, I saw nothing but crowds at restaurants and shopping. I travel there quite often but this was one of the busiest times I can remember in a long time.
As I said above, while the reading missed expectations, it was still very strong. After what I witnessed in SF and Chicago these past two weeks has been nothing short of an amazing economic turnaround.
Harry -- good to see you back.
..............wait for it..............
WE TOLD YOU SO.
"Junked" for simply highlighting a direct quote? I thought the truth will set you free....
...The future's looking pretty awful right now...
Man am I starting to get an itchy trigger finger. Commodities, Infrastructure Tech, Energy. I'm wondering if a guy should go out into the deep water and ride this storm out. If it's as bad as it looks, we may have a tsunami. The ocean ebbs and then does it flow...
You got guts Harry showing up after all the pumping. I'll give you that. Anyway best of luck.
The bulkheads on the EU-Titanic are failing.
And the funny thing is, those on the China-Titanic and the US-Titanic are also failing, taking the World-Titanic down, down, down.
Dollar is king, although as soon as the EU bottoms in the 116-119 range, so will the dollar experience a significant correction. After that 0.318 or 0.500 correction, there will be many more months of powerful USD ascent. And it's the only thing that will really be moving up; everything else will be ... down, down, down. (BTW, gold and silver will follow the Commodity-Titanic).
Cossell once exclaimed, "Down goes Frazier! Down goes Frazier."
Now, it's time for, "Down go the markets! Down go the markets!"
The bulkheads on the EU-Titanic are failing.
And the funny thing is, those on the China-Titanic and the US-Titanic are also failing, taking the World-Titanic down, down, down.
Dollar is king, although as soon as the EU bottoms in the 116-119 range, so will the dollar experience a significant correction. After that 0.318 or 0.500 correction, there will be many more months of powerful USD ascent. And it's the only thing that will really be moving up; everything else will be ... down, down, down. (BTW, gold and silver will follow the Commodity-Titanic).
Cossell once exclaimed, "Down goes Frazier! Down goes Frazier."
Now, it's time for, "Down go the markets! Down go the markets!"
Time to go dragqueen and get into the lifeboat with the woman and children :)
I did last week and I did warn. However I lost a big bag of marbles(Big time) on the AUD. Not in my 56 years have I seem such decimation of what is fundamentally a sound country currency.
Some large Companies won't survive this. "Nowhere to hide" is scary and just a little unsettling. Nothing makes any sense. Flight to safety looks a lot like Lemmings running full tilt at the cliff. I think I will go walk barefoot of some grass.
CNBC reporting the fed my do a suprise rate cut.
I think that would cause more panic than rally.
True
That should stabilize the markets. What do you figure, -0.25% or maybe -0.50%?
This sounds outrageous? Compared to what? (given everything else the farcists have attempted so far)
Negative interest rates, now that's the ticket!
I don't think it's that farfetched. If they start charging .50% to hold cash in a CD or MM that'll force some cash into the casino.
if they will pay us to borrow , i want my pay in silver.
Aren't we at zero already? Are we going negative?
Ben to banks: "Here, take the money! No, take some more! Fuck it, just add a few more zeroes!"
LOL
CB dorks won't be getting much sleep tonight. Got to reload for the European openings.
Lets listen to Obama how he's going to trash tomorrows market. He's up in a few minutes.
eminis - Jun 2010 3:15:00 PM CST 5/20/2010
1069.50
I getting ready for the stagflation as the central bank dopes panic and pump more money in and eventually crash the dollar to reinflate commodities.......print print print.
Tomorrow's expiration may actually calm things a bit and being Friday some shorts maybe inlined to book the money. Monday and Tuesday have the potential for grave ugliness.
Porkbellytrader
Bank closing day though.
wait... Inflate or Deflate??!!
I'm gonna just buy classic cars.
hazenyc
Mr Leno?
Or some Picasso or Matisse paintings?
I`m buying Gold, silver ,platinum and art. good art auction june 9 at ha.com !!!!!!!!!!!!!!
On a long enough timeline, the value of the Dow drops to zero.
+1
Yawn. Yet another banker-feign to get "their" cool new Trillion bailout. Let's hope the Germans rise to the occasion tomorrow and end the madness.
I was listening to NPR today and a woman was reading something about inflation/deflation/and hyperinflation, giving a history of these things. She pissed me off when she said that our dollars were backed by the gold in Fort Knox (WTF) and the faith in the US Gov. She kept talking about how Volker was a hero who had to deliberately put us into a recession in the 70s to pull us away from hyperinflation. Blah, Blah. She kept circling back to the idea that inflation is sometimes the best way out of things.
Folks, a full court press is on. NP fricking R.
That cinches it. Jazz 91 from now on.
National Propaganda Radio, not surprised a bit.
Hi all - I'm still here everyday, just too busy reading to post!
Thanks to all for continuing to share your wisdom.
Babe, the fact that Mark Ames was on NPR some weeks ago means that it's all over.
If NPR is even mentioning the word "hyperinflation," it's a sign that it's over.
To continue on the AC/DC vein...
Highway to Hell - http://www.youtube.com/watch?v=DixnDjsEta0
WAW, this is not the Obama I know...
He has to read everything from his little paper and doesn't speak full nice sentences.
Hold Walstreet accountable = Bad
Financials = Bloodbath at open
Morgage companies = Bloodbath at open
Every American gets a free credit score = WHAT!!!
AIG = goodbye...
predictable rule on wallstreet = BAD
Oil = DOWN
Not to mention letting BP get away with stuff like this:
BP has resisted entreaties from scientists that they be allowed to use sophisticated instruments at the ocean floor that would give a far more accurate picture of how much oil is really gushing from the well.
“The answer is no to that,” a BP spokesman, Tom Mueller, said on Saturday. “We’re not going to take any extra efforts now to calculate flow there at this point. It’s not relevant to the response effort, and it might even detract from the response effort.” NYTIMES
What "response effort"? Bungle circus maximus?!
Imminent domain and we'll do what we please. You had your chance BP, now step the fuck off.
I can already hear the cacophony of pleas for government intervention.
Soon (probably tonight) some media pundit will say: "Today stocks have fallen to record lows and the government has yet to do anything."
The public will be motivated by the media to demand action. Then we will see a whole new wave of bailouts as we convert another 10% of GDP to 2,000 DOW points.
And the cycle will begin again...
Quick, gather the wife, the kids, fill up your gas tank, get your groceries, and drive out to the country. The world is coming to an end! And it's going to be ugly. Blahblahblahblah!!!!
I am willing to make a bet with you that Citadel, SAC Capital, Brevan Howard, Soros, and a bunch of other elite hedge funds are going to make a killing in these markets.
Dear Leo. I'm sorry. I do not understand your point about Soros et al. Please explain.
Elite hedge funds (and other hedge funds) thrive in volatile markets. But here is the kicker - and I want all my "elite" financial oligarchs to perk up their ears here - when or if these markets crash because of this excess volatility, governments will use it as an excuse to overhaul the entire financial system, introducing massive regulation. Of course, by then, it will be too late.
If I had to guess, I would say it's already too late.
And if I had to guess further, I would say the financial oligarchs don't care much what comes next.
Leo, according to all these gurus at the HF conference, de-risking is the name of the game. And yes if they can call another 'March 09' and pile in their longs, of course they'll make a killing. The issue is, will this be in equities as it was before?
I highly doubt that.
Thanks, Leo. That's what I thought you meant. Wanted to be sure. Nothing much to say after that.
I tend to agree with you at this point Leo. I actually don't think this is 'The Big One', just the set-up. I'm looking at picking up well out-of-the money calls tomorrow to hedge the puts I'm holding (and the ones I want to buy when the relief-rally kicks in).
I've looked through a lot of historical charts, and even the worst crashes don't happen all-at-once, that would make it too easy for the bears.
A lot of the big guys are getting old... doubt they care that much at this point.
If you're working for Soros et al, you will never be the "next Soros."
The "next Soros" may very well be reading ZH right now. Or he could be some 13 year old girl in Estonia, studying her ass off, getting ready for the big time...
But in a post-central banking world, a lot of the "easy money" will fly out of finance and hopefully into earnest reconstruction, redevelopment, and research.
It's not like we can't do things like build better trains, more efficient cars, develop superior medical paradigms, and so on.
I love the smell of solar burning in the morning.
Gold had a nice day today (down only 4 bucks with all the carnage).
WHARRGARBL!
Leo, yes, they will make a killing. In fact, I'm certain that I'm going to make a killing with my plays too. Unfortunately, society is going to suffer. I don't believe that America will just "take it" like they did in the 1930s without resorting to violent backlash or some kind. Is this absolutely going to happen? No! But, in my part of Texas, tornadoes do happen. I have property insurance in case something does happen. Do I hope something bad happens? Heck no. But, am I prepared, because the risk are real: YES!
I think the only difference between your thinking and my thinking is that I am factoring in the risk of total systemic collapse. You don't believe that is in the realm of possibility. I just no longer have confidence that the players in charge will have the power to prevent it if it happens.
Rich
"I am willing to make a bet with you that Citadel, SAC Capital, Brevan Howard, Soros, and a bunch of other elite hedge funds are going to make a killing in these markets."
Will their killing be via Chinese solar stocks?
Buy the dip Leo ... pensions a saggin
Just a pinch between my cheek and gum...
German Clytemnestra offered a bloodbath similar of the ancient one.
http://upload.wikimedia.org/wikipedia/commons/2/23/Clytemnestra1.jpg
I have been moving my accounts and my parents accounts to 100% cash since March....sold the last positions on 5/6. I hope this whole thing blows up and burns.
Ever since stumbling upon ZH, I haven't been able to get through an honest days work :) No green shoots in falling productivity.
Hurry and collapse already.
You are fortunate. I have not been able to convince mine to do the same. Too many stocks with low cost basis would have cost them a fortune. Plus, the commissions were just too high at BAC/ML. Tried to get my mother to move to Schwab and let me handle, but she just couldn't pull the trigger.
Crap, I had a long post all typed up and when I hit the submit button it gave me the error page....
Bottom line, set up the schwab account or etrade or whatever online and fill out the transfer paperwork. Make it as easy as possible for your mom...the only thing she needs to do is sign the damn papers!
Baby steps, just get the assets moved out of the criminal enterprise known as bac and once it has, then start liquidating/repositioning. How can your mom argue against lower fees?!
Don't forget to get cost basis info printed out BEFORE you move the stuff...brokers are not nearly as accommodating when you ask for it once they see the acat notice.
Keep in mind the downside though, managing your mom's money means you are on the hook for good and bad times. i rode things down in 2008 for my parent's accounts and the rebound we have had since then has been a godsend; I am not making the same mistake twice!
My family are all Hope Junkies. Or nearly destitute anyway. To them I'm just the nutso radical who likes guns, and has a serious misunderstanding of how the world works.
What's a handle?
One index point is equal to one handle:
http://www.21stcenturyfutures.com/page/tcf/aboutus/basics.html
Speaking of "destiny":
http://www.youtube.com/watch?v=Vdc7v4vkbJI
Tyler, you can destroy the Emperor. He has foreseen this.
I feel sorry for people whose wealth is based on the stock market. There will be quite a few elderly people that I know who will be broke if this happens. Many of them remember the GD as children but others have either forgotten or believed it could not happen again. Yet here we are ... a perfect replay of 1929-1932.
If Congress and the President would just come clean with the American people and try earnestly to make amends they could shorten this cycle from > 5 years to < 5 years. Instead, they will cover up for their puppet masters in vain attempts to legislate our way out of GD II.
I have a great belief that ordinary people will pull together in times of trouble - especially in the USA; but only if they are told the truth. Lie to them and this will disintegrate into anarchy and chaos because no one will know who or what to trust.
Psquared
We have new neighbors at the top of the street. They moved in from an older mansion ( the home had mansion in the title not a Mcmansion) to a smaller less expensive home. I think they made their money as programmers.
Today the Gf came in after hearing them screaming at some guy. They were yelling " Where is my check! How can we be broke!".
I'm assuming they received some bad news.
How about when their wealth is based in FAZ?
I bought it in October and promised myself I would sell for a longterm gain because of my conviction that this bubble cannot be reflated and now here we are in May and Act III is commencing.
Bought last yr. too and had the same conviction and still do.
OT, and uncertain
http://earthboppin.net/talkshop/geology/messages/12984.html
Date:
May 19, 2010 at 15:54:51
From:
Eve in FL
Subject:
Sprinkled/Rain Oil on My Car
Hi all,
Making this quick, don't feel well. About 4:15pm or so eastern, coming back from Tampa, Florida north on Veteran's Expressway...about 7 miles perhaps from SR 54...it sprinkled some gray watery and solid black oil on my car. Thought it was bugs, but so fast did not make sense and windshield wipers just smeared it. Got out of car at store and looked on the paint and solid black dots on my car...I touch? huh? it's wet? it's OIL!!!!!
I had several folks verify it before I sprayed it off and it came off easier than the few love bugs. Two hours later still wet like OIL! nope, not water, smell it, OIL!!!
Anyone on Gulf try not to smear touch it as it is harder to wash off if it happens to you. Bands of storm clouds coming this way from Gulf of Mexico...has not actually rained at least where I have been, just ran through the sprinkle. I smell it now I am inside the house...it's just hard for me to believe also. One can think of a other things...oh maybe it was a vehicle in front of you...there was no vehicles near me at the time. So coincidence oil spill in the gulf and it rains oil on my car? okay believe what you will...but I know my gut and what happened to me, what I saw, others witnessed, I took pics of (sorry don't know how to post them, and it photos could be debateable anyway, take my word or not whichever...but we are in deep hocky doo folks.
I was noticing that big black blotch closer to west coast FL on some images that someone posted yesterday on Disasters board...wondering. Well, maybe wrong board but felt more may see it here and ones that live here. Be careful, if it gets on your clothes, pets, hair, eyes, skin...it won't be so easy to wash off as a well waxed car is.
Not checking this for now, gotta wash out my ears, eyes, nose and lay down...change clothes as I smell it now inside the house on my clothes. I did not smell it while out though and my nose is now desinsitizing, but I feel nauseated. I am really sensitive though, some may not be so much or get the heavy warnings I do.
Thanks for letting me post this bopp, if you want to move it, okay with me I understand...maybe nobody pay attention anyway and I am not super pops here as it is!
~Eve
Anyone know if this is possible?
Thank You
Possible? Absolutely. Oil has entered the hydrosphere. The stuff is lethal and can make you sick as a dog. No option except to stay indoors until the storm passes.
There would have had to be a water spout or some other major uplift event. Crude oil won't volatilize easily. As you noted, the stuff is sticky as hell. The only way to get it into the air naturally is to put a large pressure differential over it. I can't imagine that that would be a common occurrence, though one uplift event might spread it all over the place.
All that natural gas mixed in with it might have done the trick.
But what about oil that has been diluted with a dispersal?
You mean like a Cat-5 Hurricane passing over the Loop Current ?
Spring Temps in the MDR are at a record high reading right now, higher than even the record set in 2005. Everything is in place for a very active Atlantic Hurricane Season, analog years 1969, 2005.
One thing you want to consider is the aresol dispersants being used. Pehaps the weather system that came right across the loop current and hit Tampa inadvertently picked up the dispersant, and it is being confused as oil. The dispersants scare me more, health wise, than the oil itself.
http://www.businessweek.com/news/2010-05-20/epa-asks-bp-to-use-less-toxi...
I think if we get any kind of hurricane down here in New Orleans the city will be covered with a thick coat of oil to go along with the flood waters. The people down here have proven to be fairly resilient, but I think that scenario will pretty much put a fork in 'em. Should make for an interesting season of "Treme" tho.
Try using a citrus based de-greaser on the car. Good Luck.
VIX calls bougt $ $1.20 currently bidding $7. Not too bad for a schmuck like me. Bring it on, if we go down another 100 or so they will hit $10 for sure. A 10 bagger when the VIX was at 17 and everyone was like, naw, nothing can go wrong Goldilocks is back. I am an evil speculator.
i don't want to rain on the parade, but usually when the market goes out on the low-of-the-day. the following day is a redistribution up.
just the observation of someone who has been watching the /es for years.
i would take the 7 bucks and run.
+100.
Sound advise. Or you can go for the home run.
It's in God's hands now....
Ooppps.... I almost forgot, I'm an Atheist....
Did you mean this?
It's in Gold's hands now....
Now THERE'S something even an agnostic can believe in.
Maybe.
Massive forces moving, grinding into each other with incredible force; splinters and shards blasting out obliterating 'normal' objects with blinding speed. Smoke and fumes along with the quaking ground make it impossible to maintain bearings.
Hey, kids, let's go investing on the lip of a volcano! Wheeeeeee!
Civilization has become an extreme sport. That is simply not going to work out.
The sky will be rammed.
+1 nice visual - LOL
"that pattern" on the daily charts look eerily similar to 2008.
80% gold, 20% silver. do your worst Ponzi paper thieves, I will outlast your nonsense.
rmsnickers, I know what you mean, my (self employed) work time is approx 50% ZH, 50% everything else.
but it's what lets me sleep soundly at night, knowing the truth is out there
I am only 32 yoa but this is once in a lifetime shit going down....how can we NOT watch?!
Sold just about everything...
except my gold...
Tried to convince my PM to lighten up on clients stocks, but to no avail.
I do not relish a crash... many good people will be very hurt.
Being in cash and gold allows me to view these events with mixed emotions of fascination, awe and quiet sadness.
I still hope for a smooth outcome but know that it is unlikely.
*
better late than never, youre still ahead of 99% of the rest of the population.
I am truly a Vampire ... I love a good bloodbath
No baby, you're just a bear.
SPY Dec Puts are taking the edge off my miners and DGP. I think we drop hard through Aug, maybe Dec, then the printer takes over and we pivot to big inflation. Ugly times ahead.
It's like the boat ride from willy wonka
http://www.google.com/m/url?cd=1&client=safari&ct=res&ei=1an1S5D0HdDJlAf...
It's like October 2008 all over again, but this time FX rates are shaking the most...
Destiny here we come!
To quote Marc Faber on Tech Ticker January 10, 2010:
"we are doomed, we are all doomed"
and François-Marie Arouet, French philosopher regarding the coming French Revolution in 1790:
"The end is coming for the aristocracy and they make merry and have no idea what is ahead for them"
Great quote. You can see it in the restaurants and bars.
"Eat, drink, and be merry. For tomorrow, we die."