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Market Recap
All you need to know is highlighted in red (we'll leave the 10 paragraph recap to those who enjoy building narratives out of noise). We are now back to the old regime where a 25 handle move is based purely on Vitamin H(ope). And now, the EURJPY is completely decoupled as the carry trade is once again the USDJPY. At this point the Euro can fall to 0 and nobody will bat an eyelid: that signal has been terminally disconnected from all algos.
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What, you're still here?
IBM has laid off most of its US workforce in the last 10 years and is aiming to lay off most of the rest and switch to "crowdsourcing," as well as the ordinary outsourcing to Asia. While this might, might be good for IBM shareholders, it is terrible for US workers and the broader US economy.
You're so high on Hopium you'll be featured in the sequel to Up!
Remember the evolution of outsourcing.
We still have one more set that is now starting to also be outsourced, but for which, 99.9 percent of it hasn't happened yet. White collar jobs.
Once the workers are gone, from most industries, like they have been. We get to a point where it makes sense to hire cheaper white collar or management workers in other countries. After all, if you want to of had any actual experience on the production side, you sure won't have ever lived in the U.S.
and the upcoming 1.6 million layoffs by 7/15 will help send ther market thru da atmosphere...
So, Harry, where were you while your trading thesis was imploding?
Here I thought you'd hung yourself.
You are so predictable it's funny. What a coincidence, you just HAPPENED to be on vacation during the only 3 days the market fell apart in over a year? Shame on you, Wanker!!!!!
Well, since you gave the seat number, it simply MUST be true.
No stops on apple.
I would be willing to bet that in another few days, you will be on "vacation" again. You come in and out with the bullish tide. I still remain, confidently, on the OTHER side of your AAPL trade Johnny Bravo. Trees don't grow to the sky, not even AAPL trees.
If you were "about 1.5 hours outside of SFO when the market dropped," why did you wait until Friday to tell friends to buy AAPL and SSO? You do remember that the market dropped on Thursday, right?
Tell us Harry. When the market was dropping over a so called glitch and you were watching it in flight. Did you ponder about using your airline seat flotation cushion seat as a parachute?
SFO huh? You must be one of those left coast idiots that thinks we are going to bail your sorry fuck ass out. You have a rude awaking.
Yes the idiots are contained to SFO fuck ass? "You have a rude awaking" enough sed.
too bad WFMI's Forward P/E even using the TIPPY TOP of their guidance.. is 30 at the AH price.
30... for a grocery store... i guess it's 1999 again..
how you call that ridiculously cheap is beyond me...
Yeah and in 5 years i predict i will be Mrs. George Clooney. I have more faith in that predication that in IBM's.
lol, he's back. Just as the algos gain control and start pumping the market higher Harry shows his face again. Coincidence? Nah, I think Mr. Wagner might be a bot. Tyler, time to improve your captchas.
Apology not accepted!
Go jerk to Steve Jobs asswipe.
Accounting gimmicks, scams, and schemes notwithstanding...
A good day for Big Blue, up over $5....
wonder how much of that is wiring clients and banks into the exchanges co-lo style?
So, unless you were one of the poor schmucks who got stopped out Thursday, you're in better shape now than the day before the flash crash. The message they want to send is clear: "Don't worry, even if the market goes down, we'll get er right back up where she belongs. We apologize for any inconvienience on the way the way to Dow 15,000."
A glitch........are you da fool! Strong reports....frenzy??? Have you seen the volume......the only volume is GS, JPM taking you out for a licking.
Someone posted that one should BUY when everyone else is selling.
Stupidly, that's what I did, shut off all the negative noise from this site, and am almost back to May 5.
Better to be lucky than smart any day.
Is the game Monopoly?
Because I love that game.
I was almost feeling sorry for you, until that last comment. I'd say you should be in this game only if you consistently make money, bull or bear side. Hope you enjoy the trip to 1050.
...which is why nobody should be in this game, because there is no "strong base". There is only luck, based on guessing what the governments of the world are doing behind closed doors.
Fundamentals are weak across the economy.
Harry, you're an asshole. Plain and simple. I can't wait until the next downdraft so we get a break from your constant blithering bullshit.
Re: this site, which I wish had stumbled on sometime in the Fall of 2010 insted of last year:
Song of Myself (W. Whitman)
The past and present wilt--I have fill'd them, emptied them.
And proceed to fill my next fold of the future.
Listener up there! what have you to confide to me?
Look in my face while I snuff the sidle of evening,
(Talk honestly, no one else hears you, and I stay only a minute longer.)
Do I contradict myself?
Very well then I contradict myself,
(I am large, I contain multitudes.)
Why do you even bother comming back now if this site provides information you do not want to hear? All you are doing is slowing down the page loads for the rest of us!
Don't let the door hit you in the ass on your way out!
I guarantee if you keep taking advice from Harry you will end up crucified. He is a JOKE. Seriously, he is playing a roll and thats it. Why would you trade based on advice from the Internet? Why oh why?
Godspeed, sir. Godspeed.
Let me understand your argument Harry: 1) 40 million people are on food stamps; 2) unemployment is about 18%; 3) our trade deficit widened last month YoY and will probably widen this year YoY; 4) Fannie's and Freddie's foreclosures have doubled YoY; 5) FDIC bank closings have doubled YoY; 6) the Chinese market is down 20%, so they ain't any richer; 7) capital spending is flat YoY compared to a disastrous 2009; 8) GM and Chrysler still make shitty cars.
Pray tell: Which "trend" are you suggesting we follow?
The birth-death model number in the employment numbers is a made-up illusion.
And so is the cheeriness you are seeing. But, don't worry, be happy.
I'm sure you mean the birth-death model added a lot more jobs than anticipated.
And people spending money that they don't have, or that they are saving by not paying their mortgages isn't exactly the most bullish sign one can hope for.
Also you didn't address a single one of the points he mentioned.
I've addressed those several times in the past few weeks. I also did so indirectly here. My point is, even though there was and continues to be some sluggishness, we're growing and seeing strength in the numbers that matter in the US. I've indicated on several occasions how the issues presented above are lagging and will begin to see a turn. We definitely are seeing that in manufacturing and employment.
Its good to be a positive thinker, but you really should do more thorough research, and see the truth.
Harry is just messing around. He knows the numbers are rigged, he's just not "fighting the tape".
Holy shit, is that how you spell a 180?
I think I understand the wanger.He is all about velocity and momentum.But his tragic mistake is that velocity always increases as you approach the event horizon of a black hole.And that's where the fool in the markets money is heading, into a black hole I call the theivo-matic.You will lose everything, even the currency will fail.
What about "systemic collapse" dont you understand?If you had any clue, you would have been buying PM with both hands.
But, as it is, enjoy the singularity...as it crushes you out of existence.
Please explain how record food stamp usage fits into your model.
The number of jobless folks out of work for more than six months rose by 169,000 to 6.7 million, constituting 45.9 percent of all the unemployed.
Keep dreaming clown. 130k in California just floated past 99 weeks unemployed and will lose benefits. Businesses are showing profitability due to 30% across the board job cuts, and those positions will never be coming back.
Ah yes the vaunted "anecdotal data" always good gauge of the fiscal state of the nation.
Funemployment amirite!
Harry has got to be Cramer pulling our chains and having a good laugh at us.
strong base, that's a good one. lol
Yo Buzz:
these are lightyears we're talking about here and harry's doing his archetypal, 1980's style america rules free base thing.....
Hairy, Darling:
i would have to agree with you that the trend is definitely your friend. oh, and by the way,did you notice that GLD took out 1220 before the SPY's did??
No anony: Better to be SMART and LUCKY. Something of which you are neither. Stop before its too late.
I'll say it now:
WE TOLD YOU SO.
Market's up
Gold's up
Dollar's up
Sounds like "Dark Energy" to me...
don't forget food stamps!
and # of banks down each week!
And there was also something with a deficit?
I've seen "air-pockets" happen for a single stock from time to time ... but last Thursday was the first time I saw air-pocket for an entire market.
1. It should indicate how falsely marked up these prices are
2. It should indicate that there are no buyers but computers
3. It should compel the FBI.DOJ.SEC to draw a big circle around these banks and seize their assets because if not we are all fucked.
So Otto the Autopilot is back in the cockpit.
He will get us to Chicago but he won't be able to land the plane.
I like this image. It's a pleasant flight until we try to land with no fuel remaining. We don't have Sullenberger in the cockpit.
You have to understand, this isn't the 'old market' with the 'old rules'. The 'new market' is like a hot bulimic model, that nibbles on chocolate all day, then every once in a while purges everything all at once. And look how hot and healthy those models are! Best of all worlds, just try not be be standing in front of the model/market when they purge...
Who wants to hold the markets hair while she purges?
The market only rises now because shit floats.
Alright, who bribed Biderman. He's gone 100% bullish Wanger time:
http://www.youtube.com/watch?v=DbmyAhtILgQ&playnext_from=TL&videos=ngyg8nvVi44&feature=sub
Interview with BB.
Gimme another drop like last week but make it last at least as long as a roll in the sack.
Please. I dare you. Whoever you are.
I want Accenture at $.01 and no bullshit about rollbacks due to some computer malfunction.
You mean 6 minutes instead of 5;/)
Back in January 2010, I did an article based on fundamental analysis of why I saw 1250 as the top on S&P 500
Well I just went back and looked at the estimated bottom up approach operating earnings for 2010 and it has gone up from $76.47 in January to $79.83 today.
Applying the 16.37 multiple (read the article to see how it is derived) and wow, I get 1306 for the S&P 500. See how this compares to other analysts and the consensus estimate show on the attached chart. Interesting that the consensus average is at 1229!
just so i understand this
your "analysis" is you take a number other people derive which has a forward error of about a billion, then you multiply that by a number a 6 year old can find in the latest issue of business week
do i have that right? that is the basis on which you make decisions?
can everyone on this site wire you 100% of our personal assets immediately, or have you already reached capacity?
lol.. my analysis has been very prescient ever since late 2008
http://www.bostonwealth.net/2010/03/25/target-from-july-2009-hit/
Yeah you have it right.. any six year old can do this.. move on.. nothing to see here!
Oh. just follow some of my posts.. hopefully you can make some money off of them.. called a gap up on S&P futures before the bailout was announced...
..think of how much you could have made trading off that info with ES futures up lock limit 55 as I predicted!
http://www.bostonwealth.net/2010/05/09/limit-up-who-knew/
OMG, you are a MORON. Just stop!
That is unless you bother to look at who doesn't have a job. The number of jobless folks out of work for more than six months rose by 169,000 to 6.7 million, constituting 45.9 percent of all the unemployed.
Yeah, strong economic data from companies that have slashed payrolls 30% and won't ever rehire those people.
Recovery never.
So Harry went to SF and now back to CHI if that does not tell you what is ideology is I don't know what does. What a coincidence OBAMA needs the market up for Fall elections for temporary job growth and old Harry is there rooting. Figures he sees things better in those cities too cause they are spending tax dollars there like drunken sailors.......He is a liberal hack, but no one on this board should talk him down. I love to read his talking points all the same.
Well guys and gals it looks like 20 junks will delete a post.
Now that we know for sure the Wanker is a troll, keep junking his postings to make him disapear! :-D
Cool, then we'll all agree and we'll never get any older and we'll never ever die. Bigg geegantay PUSSIES cant stand dissent.
Is that you Hairy? All trolls have sock puppets.
If you would have stuck around and defended your position I would have a little respect for you. But since you conveniently went "On Vacation" and only came back after the trillion dollar bailout sent the markets back up, you lost your right to post junk IMHO.
Nein nein nicht zu snell. No relation to the wanker I just dig underdogs. Personally I think he's totally unbelievable prankster or kudlow or cramer even greenspan? I get freaky about people who act as if they can determine whos opinion gets to be heard.Get freaky with that shit, Makes me wanna vote. Vote for you my nigger.
SAP offering 65 for that POS has-been... unbelievable.
Well I take this robotic anti down mode as buying me extra pretend time to cash in capital gains on the home and get a small unit somewhere until the housing market bubble bursts here.
request to the banksters - could you push gold and silver down a bit futher thanks, I want some more.
m
Updated DOW charts showing recent buying support:
http://www.zerohedge.com/forum/latest-market-outlook-0
http://stockmarket618.wordpress.com