I got BP at 42 today. Riding that motherfuc.ker longterm.

I have been sitting on the sidelines.
Cowering.

I just bought:

Teldar Paper,Anacot Steel & Bluestar

Blue horseshoe loves Anacot Steel!

Teldar Paper, Mr. Cromwell, Teldar Paper has 33 different vice presidents, each earning over 200 thousand dollars a year.

:D I love that movie

I bought Bank of America, Ford, GE and Target on Thursday ... :)

Congrats Cajun. You were right and I was wrong. I still think it might go lower, but if you sold now you would be making the bucks.

Cheers!

You could be right ... could definitely go lower. Who knows. My head is spinning from the past couple of months. I just want things to return to some sort of normalcy (if that exists.) LOL

Looking like another bloodbath. Hopefully we get some sort of rally today.

I was just about to post something. Limit down on futures.

Okay, bright sides. Dollar strengthening and oil getting killed. Beyond that...

Nasdaq opens at about 7% down.

This is going to be ugly.

Now the market jumps almost 1000 pts...for no reason.

They will be talking about these last two months for centuries.

Nothing happens for no reason.

Yeah, of course not. Everyone knows the fed is going to loosen another 50 bps and after the last couple of days, obviously there were some shorts to cover...and then come the lemmings and voila...bear market rally.

Its recession time.
Its just hard to figure if the market has adequately
assessed the recession severity. I think we go down more.
These job loses and companies closing are not tangible enough
yet.

That's quite a rally. Election is a week away.

rate cut tom. let's see how much the kick the sh!t out of it this week:o

and for the record, i wouldn't put too much faith in todays rally. Anyone remember what happened 2 weeks ago? highest ever 1 day gain, gone in 2 days

invest wisely all

-bt-

The swings this market makes is really amazing. But there is so much money on the sideline and once the market gets going in a direction (usually down latley with today being an exception) it is like a freight train. There is no liquidity/resistence so stocks run. I think today is an exception and we will go lower again. Things are still very crappy in the country.

wow. Broke the 8000 barrier again. Down 313 to 7969. Another bounce back before the end of the day? I hope not. All of those gains from a few weeks ago are pretty much gone.

What are you short the market, or long some puts?
Reguardless it's not looking good down here, for anything. Jay Leno made a joke about the Big 3 (auto makers) last night. He said that they are now: Tonka, Hot Wheels and Matchbox. Pretty funny, but very very sad if you think about how bad it is.

i dont understand why the govnt should bail out automakers.

Why dont they bail out all the 1000's of companies that are tanking right now?

I really dont understand enough about all this to be honest. but if you're going to bail out some.. shouldnt you bail out everyone? or dont bail out anyone!

No, its not that. I think the market needs a giant blowout in order to establish some sort of bottom. I see its coming back now but i think thats bad.

Perhaps it will sell off before the end of the day.

Whether you understand it or not, you make a great point. Where does it end? Does the great Paulson have the divine wisdom to deem one company "too big to fail" over another? On a larger scale, one industry over another?

Where does it stop? Im not poking at Miraja or anyone else that Ive debated this with, but if this isnt socialism i dont know what is. It is socialism in its purest form. And Im not arguing against what the government is doing, I just think a spade should be called a spade.

It looks like the 700 billion dollar "tarp" should be renamed the 700 billion dollar bait and switch.

It is going to be hard to establish a bottom, with what seems to be nothing but bad news in the immediate future. Unemployment is up. Big companies (including the fianancials) are struggling and laying off more people. Retailers are already bracing for very bad Christmans seasons. Forget about the auto industry. People are having trouble paying their mortgages, just wait until they can't or stop paying their credit card bills. It just seems like there is or no reason to be positive in the immediate future.

its called your money in a shoe box in your closet method!

Well either my box has a hole in it, or my wife gas discovered my bounty. :mad:

You are correct on all that you say but regardless of market conditions, at some point there is value...even now.

An interesting point came up when a couple of colleagues were chewing on the gloomy state of the market. IF a good perecentage of the economy was created by poor credit risk, does that mean that the contraction that we are experiencing is more longterm than short? The points you made in that post support that premise.

i dont know what this bail out is going to solve...

Obama is pushing hard core though to bail out the automakers. Bush wants to spend as much money as possible it seems. We are transfering the power from one socialist big spender to another. I just hope Obama turns out to be more responsible than Bush (wont be hard to do).

They are all acting like socialists. Thats because they all think like socialists.

I dont understand how they pick the companies to bail out... I can see banks and morgage companys that have control of peoples homes and $$, but I dont understand the automakers.

Unless if GM tanks.. then they take away my Pontiac.. which i Pay for every month... Then I'll be pissed!

I believe that this is not going to be a short term problem. It is going to take a couple of years (at the least) for us to snap out of this slide/recession. It can't/won't happen overnight. The biggest thing (I think) that has to be fixed is the job market/unemployment rate. People need jobs so they could pay their bills, buy things and most impotantly create tax revenue. That's where it all starts. Until then, everything is going to continue to snowball.

You are right about values, but when the market is so one dircetional like it has been (even on days we are up) it just doesn't matter right now.

Detroit's fate was sealed in the 80's and the last 25 years played out predictably. People keep talking about tax incentives when purchasing american cars. Screw that. You want me to buy an American car? Spend the cash on R and D and make something that i want to drive. Spend the extra money on service. Why can we drive Japanese cars for 200k miles and we cant drive a ford more than 80k before it implodes?

Obama will give the carmakers their money whether its the right thing to do or not. I pray that the money works out to be an investment as opposed to a bailout.

Think about all the tax revenue that cars generate. Not to mention about all the people that are employed by these companies. I am also sure that there is some sort of trade (import/export) ramafications to would be effected too. If the automakers went out it just might be the beginning of the end.

Good article on the math behind the automaker's problems...Numbers are pretty crazy..

http://www.middletownjournal.com/o/c...308thomas.html

This is fine work.




I give it:



:{>: :{>: :{>: :{>:

Man are you desperate













;)

While he's accurate in his assessments of what ails the auto industry (union labor has CRUSHED autos & airlines), I'm shocked you read this guy- he's the most conservative right out there in national print.

She's the left's answer to Ann.

She's like CowGirl in Wash.,DC....too.



HA-HA!!

I know...I was going to preface that this may be the only article I will ever post by him, let alone read. Have to admit that I agreed with a lot of what he wrote, and I generally am not opposed to Unions...but they can get ridiculous

I think I'm becoming generally opposed to everything! generally of course


:zz:

Auto unions.....blech.

More money for less car. Like Dala said--it's that simple and that predictable. Not that it makes it any easier for everyone,but this is a case of falling from within.