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Stubborn Ireland Refuses To Yield To European Banking Interests, And Exchange Senior Note Recoveries For Austerity
Contrary to CNBC's interpretations of Irish PM Cowen's speech that the leader may have opened a door, or is "clearing the political space" for a bailout, the Irish Times has a completely opposite take on the speech, one that confirms that no matter how hard Ireland is pushed by Europe and Fed interests to exchange par recoveries to the bankers for austerity, it has so far refused to bend. To wit: "Speaking in the Dail Mr Cowen reiterated that Ireland had made no
application for external support and said there had been some
“ill-informed and inaccurate” speculation about the Government seeking a
bailout in recent days." Which of course is not to say that lack of liquidity will not end up crushing the mostly foreign banks domiciled in Ireland (which has enough funds to hold it through next summer, by which time Portugal, Italy and possibly core countries will have long been bailed out). Nonetheless, we can certainly hope that Ireland stays the course and refuses to betray its public in exchange for a few more years of debt-induced slavery, something which our own monetary authority has no problems doing.
More from Irish Times:
The Government must find a credible, efficient and workable solution to its budgetary problems that will provide assurance to the financial markets and restore confidence and stability in the Irish economy, Taoiseach Brian Cowen said this evening.
The move comes as the European Union (EU), the International Monetary Fund (IMF) and the European Central Bank (ECB) are continuing to work on a solution for the Irish banking sector and ahead of a meeting of euro zone finance ministers, which Minister for Finance Brian Lenihan is attending, in Brussels this evening.
“Given the current market conditions, there have been on-going contacts at official level with our international partners,” he said.
“The Department of Finance is continuously in contact with these bodies. The engagement has been particularly intense in the run up to the budget and the four-year plan.”
Mr Cowen said there was no doubt that financial markets had been extremely volatile over recent weeks and that the State needs to provide them with a level of reassurance.
“This is not an insurmountable challenge and, through working together with our partners in a calm and rational manner, we can resolve these issues and underpin financial stability in the medium and longer term," he said. “It is in all of our interests that we find a credible, efficient and above all workable solution that will provide assurance to the markets and thereby restore confidence and stability."
EU economic and monetary affairs commissioner Olli Rehn confirmed this afternoon that the European Commission was discussing a solution to Ireland's banking problems with the IMF, ECB and Irish officials.
"The real problems are in the banking sector," not with the [Irish] Government, "but these are connected," he said. "We have a very strong focus on the banking sector," Mr Rehn said.
German finance minister Wolfgang Schaeuble said his government would not urge Ireland to seek aid from the EU bailout fund as EU countries should not prescribe to each other what to do amid the sovereign debt crisis. He was speaking in Brussels.
French finance minister Christine Lagarde said that if Ireland requests financial assistance from the European Union it will be provided. "If Ireland needs help, we will give help," said Ms Lagarde.
Minister for Finance Brian Lenihan will attend the meeting at which the recent escalation of euro zone debt market tensions will top the agenda.
The kicker, and the one statement which none of America's corrupt politicians are willing to make:
“I have a job to do which is to ensure we do the right thing by the
country,” said Mr Cowen, who added that Ireland would sit down with its
EU partners and discuss “how we underpin banking and financial stability
in the medium and long term.”
How refreshing it would be if America were to one day to the same.
h/t Geoffrey Batt
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I hope they continue to stand firm and let the banksters eat cake. It is the only true way out for Irish people. It's going to be rough anyway why through the country's remaining wealth to the banksters.....keep it and start over.
Go Ireland! The new hairstyle for bankers:crewcuts.
+1
Ireland is absolutely screwing up here, and missing a tremendous opportunity.
The Banksters are thinking that they are holding Ireland hostage. The truth is that the situation is reversed. Ireland is holding the Banksters hostage.
If it's true that there will be a significant hit to the Banksters if Ireland defaults (beyond the haircuts), Ireland should be negotiating on its terms, and not the EU/IMF's. That is, take the money, but only at a price for the Banksters. Basically, debt forgiveness, or at a negative interest rate.
Ireland has the Banksters over a barrel. It's time the Irish made some money here.
Exactly. The IMF needs Ireland more than Ireland needs the IMF...
"Gooooooldfinger. He's the man, the man with the MIDAS touch!...doobeedoobeedoobeedoooo"
Negotiate? Let me get this straight. The people own the right to the money, but the bankers are the ones who "will it out" with interest? This system only works if you have an effective balance of savers to debtors which has not occurred for a very long time.
I have a better idea. Default on the debt entirely and watch the great derivatives collapse reset the entire financial system. I will be very painful during the process. In the end, however, it will not only wipe out the financial elite, but also lay the groundwork for future generations.
No, not positive interest; negative interest. The amount due gets less over time. The point is that there's a price that the Bankers will pay if Ireland defaults, and Ireland should be shaking down the Banksters, if the Banksters want to keep their Ponzi alive.
Not only does Ireland get some money without cost, but they also keep the right to shake down the Banksters again, by keeping the threat of default in reserve.
The Ponzi will collapse at some point. But right now is an opportunity for Ireland to put the squeeze on the Banksters, instead of the other way around. The point is, the Banksters have far, far more to lose than Ireland does. Ireland should be negotiating from that position of strength.
There's an old joke that supposedly originated from Churchill:
Churchill: Madam, would you sleep with me for five million pounds?
Socialite: My goodness, Mr. Churchill… Well, I suppose… we would have to discuss terms, of course…
Churchill: Would you sleep with me for five pounds?
Socialite: Mr. Churchill, what kind of woman do you think I am?!
Churchill: Madam, we’ve already established that. Now we are haggling about the price.
I'm pretty sure we all know what all governments and bankers are, now they are only negotiating about the price in Ireland.
Exactly.
http://online.wsj.com/article/SB1000142405274870431250457561819123723671...
And begins the breakup of the EU - next up Portugal, Greece, Spain... not to say this is the wrong thing.
Can someone answer me a question? If the EU can regulate every detail of commerce, down to the curvature of bananas sold in supermarkets, how come they made NO effort at all to regulate banking activities that directly affect the value of the Euro?
How low, how low, how how low can the Euro gooooo?
1.17
1.0
It's not that the euro is falling; it's the dollar that's rallying. Get with the program.
Of course, ultimate support was best defined by Goodman. "Mark it zero, Dude."
ditto for the dollar
They are playing "chicken" to keep their Corporation Tax At 12.5%.
If they accept EcB/IMF "help" it means an instant 20 to 24% to bring Ireland in line with
the rest of the struggling Pigs.
Ireland's hoping Brussels will blink first.
Agree. But can they really do it?
Ireland? No.
Why not?
What do they have to lose? Ending up like Iceland?
Exactly, the "wealth" ireland has only existed for the last 12 years. People are a little weird about how poor Ireland was prior to dot.com.
Life won't change by much that's for sure. The cost cutting will just be short and swift.
Really the end goal is who will be in better shape faster. Ireland has taken it's licks for 600 years, what's 7 years an a day on top of that?
Nothing at all.
This is exactly what is happening.
This could spell the end of Google Double Irish tax scheem.
They are going to ruby ridge the whole country of Eirin now.
My American Irish eyes are crying for it may be these very same Irish that help America rise again from our banker ridden ashes....then I woke up
Someones got to put their foot firmly down on the Blarney stone and say 'No more'...may as well be Ireland, be tippin a few glasses later to you guys! The first in the world with any balls to put an end to the bailout nonsense.
Sooner or later, some sovereign nation is going to figure out it is in their best interests to NOT bail out the banks.
Will it be the Irish?
Doesn't really matter, sooner or later it will be some-one. And once that first domino falls, the losses cascade through the system, and the risk premiums shoots the Moon.
Damn right there will be a lot of pressure to persuade everyone they must not go that path. But some-one somewhere will see their best interests lying elsewhere, other than in the pocket of the global mega banks.
Although... Iceland has already... kinda. And that didn't push things over the edge...
So, would Ireland make the difference?
It is nice to dream it might :-)
Currency and commodity destruction not backing off....
Chain-selling across the board in every class.
Home Depot is up...
HD and many other retailers. That's why I think this "news" wears off quickly by the end of day and we see a snap back rally into the close.
Coupled with decent economic news here today and I really think we tested the bottom of the SPX range at 1175 and held. AAPL tested 300 and held. IMO, rally into close today to spark the next wave up.
Another "snapback" rally?
A perma bull never loses his stripes............
Tested bottom of the range at support and held nicely in SPX and AAPL. Tells me the 2-4pm time frame will see a rally back up.
In case you didn't notice, POMO isn't being used on stocks any more!
You'll get a DCB sufficient to suck in the dipshit buyers, and will receive a suitable flush soon enough.
That "rally" has taken me by storm Harry. I'm content with calling you as the contrarian indicator of the year!
Hahahahahahahahahahaaaaa.
Red POMO X 3
http://www.youtube.com/watch?v=HXfc7VMyj94
Taraxias remember Harry here was the guy last Thursday calling for triple digit DOW pop on POMO Friday! One thing is certain, a premabull never admits a totaly wrong call, no matter he's still calling for a 'snapback rally' 300 DOW points below where he called the last one!
Just give Harry back his pom-poms, all he's good for is cheerleading while wearing his rose colored glasses.
Decent economic news?!? What planet are you reading this good economic news on? PPI was actually quite a disaster.
"Green shoots" are EVERYWHERE! [end sarcasm]
Could be dysentery.
Then buy something Leo...I mean Robo!
If you own any of it, better join the sellers quick before that window closes down to a pinhole.
"Currency and commodity destruction not backing off...."
shouldn't the possiblity of all of Ireland's euro-bank debt holders taking a haircut deflate the Euro? hoping someone wiser in the ways of FX than myself can map out the calculus on this.
Wait until GM is "done", there won't be any holding back anymore!
feels like 2008 ALL OVER AGAIN! Eeeee, hawww.....
I volunteer to smuggle a boat load of rifles to Ireland in support of the anti-bank revolution. Other than Qaddafi, who is with me?
Remember the Eksund, bitches!!!!!!!
global anti bank revolution would mean guns needed everywhere.
Im with you, Hedgeless! But first let mess up a bunch of Pasta Jay's before we embark.
Ravioli, then rifles, and later pints with Dork in Cork?
While reading this i found this: NYS Comptroller Dinapoli says wall street on pace for fourth best year ever (Ran Squawk headline). Warms your heart doesn't it...
not nearly as much as my pot of boiling tar does.
"HEAD'S UP!"---
This is scripted for TV - They'll take the bait. Just trying to act tough....Wait until the bond spreads blowout real wide and Obama is on the phone telling him to take it. We'll see how tough he is. Can't fight it. Politicians have no true vested interest in the state aside from what they say. They'll be famous for 15m and then move on. Why take the risk ? What's in it for Irish PM to hold firm. Risking riots in the street. Looting, bank failures...for what. Take the play-money like everyone else. I figure that he's trying to look tough. Money interests will get to him. He'll cave.
Obama? You mean the guy who with Timmah in tow who just got their currency control and trade demands blown out of the G20 in humiliation?
You got it.
what type of "money interests" and "getting to whom"? i thought BHO was a "real estate guy"? his father was a very renowned economist....
You may be right about the posturing. I read elsewhere that Irish elections are scheduled for Nov 25.
We'll have to see what happens afterwards.
Dear Ireland,
Here is my promise.
If you stand firm against the EU and refuse the bailout, as an act of solidarity, I pledge to spend $1000 on Irish export goods (most likely whiskey, but that still counts).
On the other hand, if you cave, I will be drinking Kentucky bourbon for the next 365 days as an act of protest at your cowardice.
Hopefully, others will join in.
I'm in !!
I like Wild Turkey, but I'll buy crates of Jameson if they refuse the bailout.
I'm with you guys! If Ireland stands up to the banksters, I will be buying Irish!
You can count on me!!
Irish whiskey for all. Getting ready for a major bender.
If the Irish let you down, give the Northern Irish a try - http://www.thewhiskyexchange.com/P-7794.aspx
I pledge to spend $2,500 on Irish goods by February 1, 2011 if they don't take the bailout.
http://www.mccanns.ie/pages/products.html
http://www.jamesonwhiskey.com/age_verification.aspx
http://www.horseware.com/site_flash/turnouts.html
+10 I'll commit to that and I live in Kentucky.
X2
I'll gladly pay for some of that Guinness!
Jameson, Bailey's, & Guinness. Car bombs are my favorite!
Ahhh. Bailey's!
I have a sweet tooth. That'll be my commitment to the emerald isle should they tell the banksters to fuck off.
all of these are now English, for a decent whiskey brand still owned by Paddies try this instead
http://www.tyrconnellwhiskey.com/_home/home.asp
the poverty blend is Kilbeggan which still tastes mildly better than the liffey pisswater that is jamesons
IN!
Brilliant, I'm in.
Spain’s phantom securities
Fitch report on “originators supporting Spanish structured finance Deals.”
This is structured finance, but it has bigger consequences for the eurozone bank-sovereign-securitisation feedback loop. And it starts with an oddity — loan prepayments within Spanish deals have stayed elevated during the recent financial crisis, even though you might have expected them to decline.
Fitch reckons servicers are “proactively identifying” troubled borrowers and are offering extensions or modifying the loans.
It’s no secret that certain securitisations have been put together specifically for use as collateral at the European Central Bank’s liquidity facilities — so called ‘phantom securities.’ It’s not much of a stretch to imagine they’re being serviced or supported accordingly.
http://ftalphaville.ft.com/blog/2010/11/16/406226/spains-phantom-securit...
The Banksters will not allow Ireland to get out from under this. They will collude with the IMF and the EU. They will force the bailout down Ireland's throat!!!!
Ireland is correct in pointing the finger back at the IMF and EU and saying their problems are not that bad, certainly no worse than many others.
Looks to me like they thought they could bully tiny Ireland around, and the mighty IMF just kicked a Leprechaun who then told them to kindly go fuck themselves!
God speed Ireland! A line drawn in the sand by tiny Ireland? The Irish should rise now and hit the streets in support of thier governemnt doing the right thing.
I'm waiting for someone to bring up the organized crime syndicate that came through Ireland banks (and many others too!) laundering money every which way and sticking the Irish with the bill. Tyler, perhaps you should do some real investigation into this syndicate for hard answers to the reasons Irish are refusing to cooperate. It's a global banking conspiracy that is highly organized.
Eastern European mafia if I'm not mistaken.
Let the thugs eat cake.
LET THEM EAT POTATOES!
@ Widowmaker,
That would be an interesting story (E European mafia laundering money through Irish banks). I have not run into that one before, thanks for bringing it to our (my) attention.
Tyler(s): This seems to just the kind of story you would like, get to take on mafias too!
I remember reading that the amount of CDS's were double of the Entire Worlds GDP. Looks to me that all of the Wall Street Bankers are counting on the failure of all of the Foreign Countries and maybe even America to cash in on all of their negative bets on the survival of the World Economy.
Notional.
Netted out, much 'cleaner' figure.
I smell riots, chaos and social unrest shortly. Throw in a dose of anarchy for good measure.
Damned if they do, damned if they don't- the Irish politicos know the people will revolt if they accept to bailout Wall Street... ooops I mean Ireland. However, Ireland will collapse either way.
They might as well bite the bullet and say NO to the bailout!
The smell of certain civil unrest and anarchy in the crisp fall air, beautiful! I say the worlds madmen elite have bitten off way more than they can chew this time.
Even if they do contain this, the forces of nature are against them now.
the "hottest winter on record"? eh, maybe it's that girl you love so much coming with a gift...
The evening glow of Russian Cocktails...
for god's sake do whatever it takes to save the banking system and its lurid sociopathic managers but above make sure you fuck the people and country into oblivion....the words of revelation are so true: for thy merchants were the great men of the earth; for by thy sorceries were all nations deceived.
FUCK THE PEOPLE!!!
Max Keiser: Irish govt slaves to IMF terror machine!
http://www.youtube.com/watch?v=nQFHgcFlrlw
Dear Ireland, To reward you for standing up to THE (bankster) MAN,
I would like to loan you some money real cheap.
We should all take a moment and thank the Irish, but let us not forget ICELAND.They simply thumbed their noses and walked away.
We should get a ZH update every week that just says, "Iceland still doing fine."
Can the Irish do any less? Go get 'em!!!
Thank you Iceland. You led the way.
Dear Ireland... Ignore any mysterious missile sitings over the skies of Dublin.
Re: Unknown Missile fired off the coast of California
The WaPo has a follow-up that They finally agreed on a story: It's a plane. Not linking but read all the comments and this one leaps WAY out:
parkmcgraw wrote:
As a point of conversation, I was briefly outside yesterday, looking at the sky and cloud cover not much before this event occurred, noticing Jupiter and that the aircraft over head in the sky at the time were not producing contrails of any lasting nature or great size.
As an avid observer of all things and former US Navy weapon systems technician and one that stayed close to the defense sector have witnessed firsthand Terrier, Minotaur, Atlas, Delta, Titan and other launches including last Friday's launch of the Delta II from Vandenberg and from what I can determine from the news video looks very much like a rocket or missile launch.
The news video, clearly showing where the launch vehicle lifted from the ocean surface much like a sea launch ICBM. After further examination of the video, can identify what looks to be a momentary vertical accent phase, normal to the ocean surface followed by a "role maneuver", suggesting a vertical launch orientation of the vehicle and not horizontal such as from a torpedo tube for a sub launched Tomahawk missile. Thus, producing a short and clean vertical accent, void of a departure angle relative to the water surface.
The vehicle, as seen in the video, leaves little doubt that the vehicle is travelling at velocities much greater than what a non hypersonic or supper sonic aircraft is capable of achieving. This is deduced from the size to the "gilt" of light, at minimum intensity, from what appears to be the rear of the craft relative to the size of the plum immediately aft of the craft.
Judging from the orientation of the exhaust plum, relative to the direction of the setting sun and position of shadow line along the length of the plume does not suggest that this light from the rear of the vehicle is a reflection from the sun. Instead, that this light is the product of a very energetic chemical reaction. The width of the plume, relative to the length of the plumes path and apparent velocity of the vehicle strongly suggest that the combustion rate is magnitudes greater than that of a jet aircraft.
Presuming no foreign entity is responsible for this event, looks similar to an SLICBM. But, should this event not be precipitated by the US Navy or some other US armed service, then this apparent missile launch does have me very concerned.
My background to make such statements and formulated opinions comes from my time as a former US Navy weapons technician and operator. A person that in the past, participated in exo atmospheric experiment on so called Star Wars experiments including being on VOX during missions involving the Space Shuttle, Barium release experiments, to having flown jet and prop aircraft, having found over 400 astronomical objects including all Messier objects by the time I was 18, taken hundreds of astronomical and atmospheric photos, some published in books and magazines and today a laser physicist and author of an IRAD study titled US Naval Weapons Analysis for Northrop Grumman, Directed Energy Systems.
------------------------------------------------------------------------- And then there is HarryWanger's wife with her side of the story: http://www.youtube.com/watch?v=7UAeSsvHhTg Who is more credible?
Zzzzzzzzzzzz.....please, can we let this go? 90% of the people here were foolish enough to believe it was a missile even with every piece of reality telling them it was a plane. Let's move on.
What was the flight number and airline, again? I missed that, and so did the rest of the world.
Look, it was posted a zillion times - flight from Hawaii to Phoenix. Just let it go.
Harry, you are doing a good job. Someday, you may even make Kommander at the Ministry of Truth.
Make your own decision, folks, before Harry and his friends bury the original video footage on page one billion of their search engine, www.Google.gov
http://www.youtube.com/watch?v=oyEvk-VTuEI
Anyone that thinks that was a plane is an idiot.. Period !
Flight number and carrier please, Harry?
US Air flight 808. Same exact contrail shot the following day as well. End.....of......story. Period.
Nice try. 808 was nearly 100 miles away at the time of the video on the day before.
http://flightaware.com/live/flight/USA808/history/20101108/1955Z/PHNL/KPHX
I expect better lies from government workers that have seen their salaries increase to twice that of the private sector worker in the last couple of years.
don't lower yourself to argue with that fucking moron.. He's obviously a paid shill.. He probably thinks we found WMD's in Iraq and Osama Bin Laden is alive and well in a cave planning the next underwear bomber..
Everytime I see a picture of that kid (underwear bomber) all I can think of is: "mommy... i'm scared.. they told me to do it"....
Either you work for the ministry of truth, or you're a permadouche. I've seen other posts from you and I know you're an idiot. You're a contrary indicator.
I don't know (and really didn't care) WTF that thing was, but you're pretty much the last person I'd believe on any subject.
no need for you to comment... I saw your interview the other night on Rachel Maddow
Only a gulliable fool such as yourself believes it was a plane Harry! Provide the flight number please? Oh, you cant? Keep living in your dream world, fool.
similarities to the Nova Scotia siting?
Ok, I know I promised not to discuss this topic further BUT, I was sent this post from an aeronautical engineer last week:
So there you have yet another well informed source declaring it was indeed a missile or rocket... if it wasn't, the gov't wouldn't have botched up the media responses like they did. Only Obamao supporters, like Harrywagthetail and LeoKraposis believe it was a plane. That alone speaks volumes...
I will say Collen did have 2 good points in the video,
points sitting way up high.......
Hedgeless,
Your long-winded post about the plane vs. missile controversy is NOT relevant to the discussion about the Irish economy.
Although YOU may think the controversy important enough to intrude and derail comments pertinent to the Ireland article, myself and I'm sure others, would not agree.
I am sure the individual who posts comments advertising his wares also believes his advertising to be of greater importance than the topic at hand.
Nonetheless, both his and your post belong elsewhere, and that is why I flagged both as "junk".
If it were really possible to substitute credit expansion (cheap money) for the accumulation of capital goods by saving, there would not be any poverty in the world. Mises
Stand your ground. Quality will insure your markets not Fiat or any Government. Hayek referred to as "the fatal conceit," thinking they have the knowledge to fix and plan the economy. They can and will only make matters worse. In fact, adoption of a true isolationist program would finally end, once and for all, the blackmail of foreign countries which are unabated as fiat moral hazard. Quality will insure trade and will look at the Irish Miracle part two if they have the resolve.
repost ;(
the "fatal conceit" indeed. and i hear "the folks of Michigan down to the the last phucking JANITOR" have had their eyes open to those "well meaning bailouts from the Federal Government." Needless to say "their Wall Street buddies had a good time." It will be "quite the IPO"--not "Up in the Air" at all. Not that anyone should be surprised..."six of one, half dozen of the others....
Strangely blithe post from TD. American pols constantly promise the same, and as for never doing it - well duh, and neither do the Irish pols.
The Irish government has enough cash to fund its currently projected fiscal deficit through mid next year, but it doesn't have nearly enough to make good on its guarantees of the Irish banking system, which are being tested very much here and now.
Good money after bad - rescind the guarantees and let the cleansing of the balance sheets begin.
WORLD WAR III is imminent... caution ahead
Just Austria...leaving the EU...with all the IMF's gold....and "whatever else they have." Mozart...beautiful women...I hear it's quite nice in the winter in Austria...
Ireland if you say no, it will be easier for Portugal, Spain, and Italy to say no.
Say no for the sake of your euro bretheren
Duplickate.
Soo mee hearties,ya wish to fail arrgh...i mean ya dare to set sail all alone across the forbidden zone through these treacher(i.o.u's) waters me buckoo's where ther' b sea monsters i 'ere.
Arr....ye'll bee shitwrecked i tell ya shitwrecked ya'ere .Aye its better if ya take yer wise captains ECB's advice than to follow yer fellow shitmates to the bottom of the deep red sea by takin' dis whee foolish Asscharity voyage.
Not quite sure how genuine Cowen is, but I believe he is thinking of his own political skin.
However this bodes well for the realists, we may be able to come to a sensible conclusion, ie. bring down the Euro
Methinks the Taoiseach - 'chieftain' - is a pretty good card player. Let's hope he has the balls to say no thank you to the Irish bank bailout. Let 'em fail,and let' er rip. Time to clean up this mess on both sides of the pond, and don't wave that MAD logic at me one more time.
Shorter Cowen: "You boys with the IRA can relax now."
Reject bankster bailout terrorism.
Yeah...You tell them Ireland!! Note to self, buy 10oz of Gold before Friday.
Brenna likes SCOK
http://www.youtube.com/watch?v=9iis6Nfjc3k&feature=youtu.be&hd=1
LOL. That bird ripped in March. We don't reflate bubbles around here but look at TSTC. $14 Chinese mobile access. Reported $1.14 for the quarter v .50 est.
From the Guardian "Live" coverage no less
As Angus Campbell, head of sales at Capital Spreads, put it:
Couldn't put it better myself!!
IRE still up 7% on the day.
Lots of "bottom fishers" trying to
score a 5 or 6 bagger over the next few months.
This could be the time to grab some high flyers right now for the snap back rally. PCLN and CMG are tempting here.
LOL. Buy some aapl.
I did. Missed the first dip to 300 but was able to get in at 300.65. Also grabbed some PCLN at 400 even.
The news for today is out. Done. Nothing to bring us lower. Dollar is falling again and EUR starting to rise. Easy trade when you use the range.
You could be right. Although everybody is expecting a stick save today.
Already got the stick save at 1175 and AAPL 300. Now it's just flounder and gradually start the move higher at 2pm. 3:30 will kick into full gear bringing SPX close to flat for the day.
Have to disagree as we have been going sideways on nothing off a big volume drop. This means we shlould close lower than the current 118.2 SPY. Likely close is 116.5 - 117.
Nah, lunchtime stick saves don't count.
I was being sarcastic about buying piggy, er, apple but yes $300.09 qualifies as the stick save of the day.
.
Wow!
Best of luck!!
but just "whose side these guys on"?
Munis are ripping higher
suckers rally
ICBM's are ground based. SLBM's are launched from subs. The fun is in the MIRV though:
A multiple independently targetable reentry vehicle (MIRV) warhead is a collection of nuclear weapons carried on a single intercontinental ballistic missile (ICBM) or a submarine-launched ballistic missile (SLBM). Using a MIRV warhead, a single launched missile can strike several targets, or fewer targets redundantly. By contrast a unitary warhead is a single warhead on a single missile
http://en.wikipedia.org/wiki/Multiple_independently_targetable_reentry_v...
One would be enough.
http://www.google.com/products/catalog?q=one+second+after&rlz=1I7GGLD_en&oe=UTF-8&um=1&ie=UTF-8&cid=15694610263466051743&ei=xuPiTJSvLIS8lQe2hdW6DQ&sa=X&oi=product_catalog_result&ct=result&resnum=3&ved=0CDEQ8wIwAg#
this is not sustainable
"...Next month the government will deliver its latest austerity budget with the aim of slashing a further €15bn from public spending on top of the €14.5bn it has already been forced to cut. But Kelly has argued that the public sector cuts are "an exercise in futility" when compared with the €70bn bill for Ireland's bad banks. "What is the point of rearranging the spending deckchairs, when the iceberg of bank losses is going to sink us anyway?" he asked in the Irish Times last week.
Put at its starkest, for the next six to seven years, every cent of income tax paid by Irish citizens will go to cover the banks' losses.
http://www.guardian.co.uk/world/2010/nov/14/ireland-economic-crisis
The total cost of the bailout
of the Irish banks for the Irish
taxpayer stands currenlty at
286 billion euros, 170 per cent
of GDP, 66 000 euros per head.
And round the corner comes the
mortgages´crisis...
Bugger Off!
Like a herd of bloody swine that refuse to leave the trough
You'll get no more this evening so you bastards bugger off
http://www.youtube.com/watch?v=WB-QY-B8r7A
Erin Go Bragh!!!
Don't sell out, boys!