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PPT to paint the tape green for St. Patrick's Day???
Another day, another meltup. Regional banks on a meltup, junker community banks getting squeezed, REITs and retail stocks up like 20 days in a row, fueled by the Perpetual Motion "Wash, Rinse, Repeat" machine.
Unfortunately, I'm still locked in a bunker with limited Internet access, hopefully I'll finish up this "secret" assignment soon...
Here's another collage of assorted "meltups"....
Hard to tell which stocks are melting up faster: Near-bankrupt European banks or local community banks here in the U.S.
Seems that the personal computer "v-shaped recovery" story is being touted once again. I mean, how many PC's can an unemployed person buy in one year?
I wonder if Goldman is going to put VNO on its "conviction buy" list with a price target of $100??
And the regional banks are still on a tear. Names like ZION still have a huge amount of shares sold short...
And don't forget the IBD Top 100 momentum plays. Seems like some of these stocks are still going vertical.
Oh-well, I have to go back into the conference room "cave" the rest of the day.
Happy St. Patrick's Day!!!
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God bless those Irish babes! In case you missed it, Bubble Ben gave portfolio managers the green light to keep on buying risk assets for an "extended period". Drink up laddie, the punch bowl is still full, and green is good, especially green energy stocks:
http://finance.yahoo.com/q/bc?s=STP&t=5d
Happy St-Patrick's Day!!!
Leo wins today. Sorry, Robo. It's too bad she's not Irish... or maybe not :-)
Yes Leo has more skin in the game.
+1,000,000
Gotta say, Dork, I'm jealous as can be of your residence on a day like this.
Well soon I will have to do my duty and dramatically increase the consumption levels of my country - watch out for the Irish tax take - it will spike upwards just around now.
@ Leo if STP trades above 15.20 for an hour, i'll give it my Against All Odds Buy Rating
very annoying =========>
http://www.youtube.com/watch?v=2Sd0W1RyMnE
Be careful laddie, I feel the luck of the Irish on my side:
I don’t get why more people haven’t had the idea that the markets have been rigged for a long time. Appropriately, “CORNERED RATS AND THE PPT” http://www.gold-eagle.com/editorials_03/hultberg032603.html
Seal, did PPT stop the 2008 crash? no
get real, the fed and broker dealer complex is a pump and dump sheme
they will prop or dump depending their agenda
they have been actively propping and pumping up for months now....at this point downright scary how many peeoiple are in knee deep
The PPt was convened after Team O came in; And how do you know if the elements of the PPT (not the whole team, the squids on Broad Street for example) were not after the scalps of Fuld and O'Neal? That they did not sit aside to wait for just the chance to screw the jolly-come-lately crowd to the 2008 party? Nothing is innocent, bull and bears need the prices to move first before they jump in, hope peple understand that.
"get real, the fed and broker dealer complex is a pump and dump sheme
they will prop or dump depending their agenda"
I just loved last year's promotional efforts by Ben & Co.
Best ever. "Green Shoots" should get the promo Oscar or something.
All sanctioned by the SEC..
Seems that the personal computer "v-shaped recovery" story is being touted once again. I mean, how many PC's can an unemployed person buy in one year?
The HFT trading institutions are buying them.
SLW, AA, XOM, HES, ABX....peak oil/gold. GET SOME!
14 more days until the liquidity stops. Shorting anything before the end of the month will probably end up being painful.
Yup, in fact, because Bernanke put an artificial volume and time target on his MBS buys, he is snapping up anything that originators produce, dominating the market the past couple weeks even more than before.
$50B a month in money printing will soon end. Wait for it.
You really think it will end?
Methinks markets to be green the rest of the week-- the better to crush the March putholders (if any are still alive).
P.S.: Those are some serious choppers on Robo's second lady! (Juss sayin').
That chick will eat you. And not in a good way...
PPT pushed hard in honor of Green Shoots Day.
We know Bennie Bernak-ster isn't Irish but it's the thought that counts...
Basic Irish step dancing movements are called 3's and 7's.
More apropros for this forum....
http://www.youtube.com/watch?v=BgVfjXA_QY0
We are going up regardless of the bad news, Meltup is the right word for this economy. The PPT is doing everything it can to make sure that this market is high, I wonder why? Could it be that they are building up a cushion so when this game starts to unravel and the market takes a few thousand points dump they won't hit that psychological point of its over. Remember when we where down 6300 on the dow, they where doing everything they can to keep us up over the 6,000 mark. They knew that the 6,000 mark was the barrier that if broken could have dropped down a few thousand more.
I think one of their main concerns is (the lack of) tax revenues. The gov't has five main ways of getting money: 1) Taxing, 2) Borrowing, 3) Printing, 4) Taxing asset-bubble profits, and 5) Goosing the economy through borrowing, printing, and low-interest rates so as to increase tax revenues.
Income from taxing asset-bubble profits is way down. They want it to come back up. I don't see them succeeding at creating a new real estate asset bubble anytime soon, though, at least not around here (Ohio and Michigan).
The real estate bubble won't be recreated without the bubble conditions that lead to it, namely NINJA loans, option arms, etc. Many states have effectively outlawed those.
This money printing is going to the only place it can go - financial markets.
Equity market will perform like a House of Cards. Everyone knows what happens to a House of Cards!
some big caps are having a melt-up too. they take turns. today it was IP AA F
CELG ohh la la. if technicals are right, they move. keep an eye on VZ
http://www.scavengeinc.com/images/dg/get-lucky-leprechaun.jpg
Daily look at brewers (ABV, CCU, DEO, DEO % change, FMX, SAM, TAP), plus Diageo, sans BUD (or pithy commentary).
Guinness & Brewers
heads up: take a look at the us dollar exactly one calendar year ago. note the ginormous daily reading that is about to "drop-off".
a safe night to all.
Jenifer keep those dirty Irish lads out of South Dakota - once you let us in your property prices are doomed to a lifetime of deflation
http://www.youtube.com/watch?v=qRdUKkxYzXk