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apppro’s take for 02/06/2010 @9:00 am EST:

 

There really is just NO reason for this:

Yesterday, we got very close to going back over the edge, just like last year at this time. If we don’t stop the media negativity and rumor-boarding we will not recover from this new call for Armageddon II.

                So why did we sell off like this? Answer… Stupidity! Reality… naked shorting and NO uptick rule! Forget about the bs that the European continent is about to default on every loan and will stop paying their bills. Do any of you REALLY think that will happen? It is just like the Dubai blip a few weeks ago, and NOTHING happened there either. Shorts have no reason to bash and kill our own banks directly anymore, so now they’re trying to dismantle the entire World’s financial system as a back door into covering their short positions. Despicable! But what’s worse is that the rest of us just sit here and like last year at this time, we’re allowing these guys to shove it up our collective asses all over again!

Screw us over once, shame on you!

Screw us over twice, shame on US! BIGTIME!

                And we allow our so-called media heroes to feed right into all this negativity and hysteria. Yesterday, after announcing some fantastic earnings, John Chambers of Cisco was just pummeled by Erin Barfnett of CNBS.

 Cisco CEO on Earnings, Outlook

Over and over and over again she kept bullying him into saying things suck and why is he so optimistic? Being the gentleman he is, he just politely said to Erin that things ARE BETTER! I’m not as much of a gentleman so I can say, “Hey Erin – SHUT the !%#* UP!”

                For those true ‘conspiracy theorists’, there is also the hypothesis that China is using State funded short sellers like their Jimmy Rogers, to spread this angst and to short the West’s financial system into oblivion. Supposedly this is payback for our rearming of Taiwan and for OUR consistent and unwarranted bashing of the Chinese economy.

 

The 4 Golden Rules

1. Immediately, reinstate the Up-Tick Rule.

2. Crack down on naked short selling. Require stock certificate #'s when a short sale needs to be covered, including ETF’s.

3. Institute some rules on how the media ’reports’ news in order to prevent rumor-boarding. Not censorship… just sensibility & responsibility.

4. Pass a Wind-Fall Capital Gains Tax of 65% on ALL short sales!

Build… Build… Build!

Drill… Drill… Drill!

Jobs… Jobs… Jobs!

 

Added side note: After I posted this blog, I came across this article on SA. WOW! A little scary when you take it into context with The Chinese Connection I proposed above!

JPM's Dimon on the Soundness of China's Banks

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apppro’s take for 01/30/2010 @7:30 am EST:

 

                     I think these 3 charts of the 3 major indices says it all. In just 1 week we have again allowed a few to destroy the future of the many. OK, Main St. doesn’t give a hoot – you will when you can’t get that loan or can’t get that job. I’ve said this before, but since we’ve been having a relatively calm, upward trend in all markets, up to last week that is, everyone on Main St. was busy watching the economy grow at 5.7% and didn’t care what the markets did.

                But NOW “The Shorting of America” is back, and all the bs that it’s China or Greece or Bernanke or Obama or even that needed/much anticipated/so-called correction is just that >>> BS! Don’t forget that the very same shorts calling for this kind of correction are ALSO the very same ones calling for a far more drastic one. Their greed can never be satisfied! If we don’t do something quick about this ongoing short-term option trader/traitor mentality… well those charts will have a at the end where we can all flush our futures down!

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apppro’s take for 01/29/2010 @7:30 am EST:

 

                narrator of Stock Shock fame sent me an email about CNBS & their role in the near death-knell of Sirius Radio. I have to totally agree with him, but the email was a little too much of a promotion for me to post. This blog is not a democracy. However, I strongly urge everyone to go back to his website and revisit this all-important issue.

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apppro’s take for 01/28/2010 @5:30 pm EST:

 

                Today was the most deplorable thing on that deplorable CNBS program I ever saw & heard. That horrid type ‘A’ Erin Barfnett, was told today that the sell off was to continue and that was because, “we have to appease the sell-off gods”, and she didn’t even blink an eye. It was bad enough that they allow someone to come on and use such hysteria/blasé terminology, but for her not to say something like, “Boy was that the most moronic thing that I’ve ever heard!”, is even worse. If anything ever called for a total revamping of the media and the entire trader/traitor mentality… this does.

 What's Spooking Wall Street?

                I’m sure none of you want to hear it, but we’re just allowing these shorts and media bobble-heads to drive us right into Armageddon II. When are we going to:

STOP THE INSANITY NOW!

Revised Tax Rules:

1. Capital gains under <6 months - 55% tax on capital gains

2. Capital gains 6 > 12 months - 45% tax on capital gains

3. Capital gains 1 > 2 years - 35% tax on capital gains

4. Capital gains 2 > 5 years - 18% tax on capital gains

5. Capital gains 5+ years - 5% tax on capital gains

6. Most critical of all — Institute a capital gains tax of 55% on ALL short sales not directly tied to a long buy by a licensed hedge fund.

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apppro’s take for 01/28/2010 @7:30 am EST:

 

                     From what I got out of the Prez’s speech last night was that he seems to be willing to, as he puts it, change; but can a tiger ever change its’ stripes? Only time and actions will tell.

 

On Health Care: He says not to stop reform, but he makes NO mention of reducing costs by going after TORT reform or cross State insurance.

On Energy: He seems to lean away from solar and wind, but goes to nuclear and never mentions natural gas. He does make a slight gesture to one of my mantras’ >> Drill… Drill… Drill!

On Jobs: He calls for a job stimulus, but at the same time says we should build some useless railroad to nowhere in Florida.

On our financial system: He does make a slight concession that the bank bailouts were needed, but makes NO mention of restricting shorts who caused all this.

ON and ON, but overall I find myself a little less ready to vomit.

 

HOWEVER ON CAPITAL GAINS TAXES: He seemed to mention some kind of reduction, but if he lowers the rates for all those short-term option traders/traitors – well all he’ll be doing is pouring gas on the fire.

STOP THE INSANITY NOW!

Revised Tax Rules:

1. Capital gains under <6 months - 55% tax on capital gains

2. Capital gains 6 > 12 months - 45% tax on capital gains

3. Capital gains 1 > 2 years - 35% tax on capital gains

4. Capital gains 2 > 5 years - 18% tax on capital gains

5. Capital gains 5+ years - 5% tax on capital gains

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