Got into a fight with the bride late Saturday night so bailed and got a hotel. Then left Sunday morning and couldn't make it past Delaware cause of the bumper to bumper through Virginia and into DC area. Then NY and Conn was logjammed today. 19 hours total to get back, and I get back to see this!!!!!!!! WTF???????????
Can anyone pinpoint the piece of news that has turned everything around?? Did the new jobs numbers come out and 100,000 were added and unemployment is down to 4.5%????
I gotta get some sleep guys. This is one of the worst stretches i've gone through in a couple years. (although no losses have been booked yet and I don't plan on doing so)!!!
Maybe a trip to Vegas is in the cards to get my luck changed.
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8 comments:
Welcome back Joe!
I don't think luck has anything to do with fear. The market is freaking out. Black box trading with no emotion is most likely driving this. I hear they 'do it' based upon volume? Anyway, this is a minor setback. The buck had to rally and now it's nearly done. (if you check out Hawk's charts on the dollar - it's approaching resistance.) it looks pretty convincing.
Fighting with the bride! Now that IS BAAD luck...I hate to ask what happened....
Hey, what if there's some really bad economic news around the corner?
Pump the dollar up so it has somewhere predictable to go.
If the dollar was really low, it would go lower. Now they bought some time to 'play' with,
...wondering....
It's a theory...
As far as I know, when uncertainty sets into markets (which it most certainly has now) gyrations become far more emotional than rational; put another way, bigger and bigger pendulum swings occur.
Looking back to tech wreck (which was a limited sector), there were some extremely nasty bear rallies. We're in the middle of one of those right now IMO. That's not manipulation, just opposing forces (trades) ebbing and flowing.
I'm just not a believer in the tin-foil, Free Masons, etc. manipulating the economy/ markets/ world. Sure, those with power use it to try and secure their wealth (wouldn't you)? The only part that scares me is when .gov steps in and starts backing PRIVATE institutions with taxpayer dollars. That is BS and pisses me off. I wrote my congressmen about both the BSC and FNM/FRE bailouts and got form letters back. And I'm going to write them again and tell them they just lost my vote FOREVER b/c he (Sarbanes) voted yes for the FNM/FRE bill. What a spineless representative; I'm also going to ask him how he read and digested 700 pages of material in one night.
You gotta tell me this story...you didnt punch her did you?
the magic 8-ball says today we bounce.
yeah, that definitely sounds like some story, joe. sorry it all went sour. we've all been suffering around here in our own way the last week. i'll tell you what, though, if this action doesn't break the "emotional investor" in you, nothing will. i think in the end it will have been good training. good luck to all today.
SWC reports 2nd quarter results
$ 0.18 a share
What draws my attention is this
"At June 30, 2008, the last of our outstanding forward sales commitments covering a substantial portion of our mined platinum production finally settled out.... Losses on these forward hedging transactions reduced our sales revenues by $5.8 million in the second quarter and $12.8 million in the first half of 2008. At present, we have no plans for any further hedging of our mine production."
I'm not gonna mention any bank problems since any loss at the moment is seen as "less than expected good to emty the closet", but...
Just read (yesterday - somewhere) where the gov is halting platinum release from the strategic stockpile...
Yeah, Lat, I think you're right about the bear trap. Can't make money unless movement happens.
I agree about the gov bailout of private institutions too. Where can I get that kind of safety net? Ya pays yer money, an yas takes yer chances...
Bought GBN @ 2.67
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