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The Stock Room page 55
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(Continued from page 54)
“I know I'm going to stick my foot in my mouth (and probably get on the no fly list too boot – just kidding), but to show you just how middle of the road I am: _______________________________________ apppro’s take for 11/23/2010 @ 07:00 pm EST:
Again the true face of evil rears his ugly head! Let’s all just look over the following series of headlines that comes straight out of the actions taken by this man & his bond vigilantes. PIMCO Is Killing Greece's Chance To Refinance Itself Next Month Merkel says Irish crisis just as worrying as Greece - CNBC Pimco’s El-Erian: Ireland Risks Major Run on Banks Bond market jitters spread to Portugal and Spain - thestar.com It’s bad enough that we have crazy people lobbing bombs over their borders in order to prove their manhood (See my earlier post.), but now we keep getting jerks like this whose narcissistic egos keep feeding the angst and insanity. OK… fine, we can’t stop these people, because the negativity mill fostered by the media has created a new breed of monsters. However, you all really need to see the latest piece of totally unrealistic insanity that this guy has come up with. We all remember ‘robo-schmobo’ and Pimco’s part in the ‘put-back’ scheme, well take a look at ‘Put-Back II’. Pimco Said to Seek $1 Billion to Buy Troubled Assets From Banks - BusinessWeek WAIT A FRIGGEN’ MINUTE! Isn’t Pimco the major player in suing BoA, JPM, Wells Fargo, among others to get back a load of money they lost on mortgages they had bought a few years ago from these very same banks? YES, so now he wants to buy more? Am I missing something here? First Greece! Then Ireland! Now Portugal! Soon Spain! And the finally – US! _ _ _ _ _ _ _ _ _ _ _
Suze Orman: ‘The American Dream Is Dead’ - Jenna Goudreau - The Other Half - Forbes _______________________________________ apppro’s take for 11/23/2010 @ 07:00 am EST:
How did I put it? “Let’s all just short everything we can, buy all the useless gold & (until recently) bloated Treasury’s we can get our hands on, dig a deep hole and wait for the nukes to hit!” Be careful what you wish for, because the above is an example of how our desire to ‘Let it All Fail’ will bring a result that none of us want. Instead of trying to build a recovery and help our economic partners like China, we find ways to short them into submission until they finally say, “ENOUGH IS ENOUGH!” _______________________________________ apppro’s take for 11/17/2010 @ 06:00 am EST: Insanity Personified!
TWEET THE STREET: Check out this new feature. Click here for details!
Let’s take another look at this; I’m not sure if anyone out there realizes the extreme ramifications and just how insane this idea truly is! We have all seen over the past decade just how important the internet has become in promoting ideas and reactions, sometimes the truly ridiculous or even the totally false. Hence rumorboading! Just consider Justin Bieber for a moment or two… OK, that’s enough! Now the nut cases on CNBS via Fast Money want to Tweet their way into further stardom and fame! Think about that: Someone with national media exposure, now instantaneously sending out buy and sell notices to thousands – no millions of people all over the World – ALL AT ONCE! Let’s not even consider that some of these ‘tweets by twits’ (TBT’s – appropriate, don’t you think?) are superfluous or might even be just out right bogus! Does no one else see anything wrong with this concept? “Hey, I’m shorting 1,000 shares of IBM, because I heard their mainframe caught a virus!” CLICK… CLICK… CLICK… instantaneously tens of thousands start shorting shares of IBM! Can you even imagine the hysteria and chaos that will occur on a daily… no hourly… no minute-by-minute basis? We all talk about trust, confidence, consistency, and transparency in the markets. Having people react to TBT’s like this will promote only insanity on a global scale! And what about if those TBT’s are by CNBS design? “Hey, I’m shorting (already shorted) 1,000 shares of IBM, because I know millions of wannabes will now follow and I’ll make a fortune because I was 1st! Suckers!” Now you get the picture? _______________________________________ apppro’s take for 11/16/2010 @ 04:00 pm EST: Insane fear!
Now that’s something to be fearful about! This market is a disgrace! This so-called fear over things that expert after expert say is a not a long-term issue, well this fear is insane! European Fears 'Overblown': Alcoa CEO - CNBC Manufacturers more optimistic on economy | Dayton Business Journal Should Ireland Be Bailed Out? - CNBC.com And there appears also to be an end to ‘robo-schmobo’. State AG Robosigning Settlement Brewing - CNBC Insane fear! Now that’s something to be fearful about! That’s all I can say… this market and the short sellers and traders/traitors and the media that have now taken control are just disgraces to us all. Wait, I take that back, there is 1 more thing I need to comment on: the insanity that those jerks on CNBS came up with: Tweeting on the markets by Fast Money Traders/Traitors! TWEET THE STREET: Check out this new feature. Click here for details! Are these people just totally out of their minds? Talk about “irrational exuberance” or “unusually uncertain”! Deplorable! Just deplorable! _______________________________________ apppro’s take for 11/06/2010 @ 10:00 am EST:
Foreclosure and the Situation
I think we’re all still missing the main point on the “Foreclosure and the Situation” mess. After months of hysteria and madness, things seemed to have calmed down a little. Of course the election and the sailing of QE2 have taken our focus away and placed the media’s ratings mill back on other things; but only after we allowed billions of dollars in value to be destroyed have we now returned to some sense of reality and sanity. Boa Wins Dismissal of Mortgage Securities Lawsuit Bloomberg Fri, Nov 5 UPDATE - Boa wins dismissal of big mortgage investors suit at Reuters Fri, Nov 5 Whether you agree with these outcomes or not, whether you think banks should give away free of charge homes to people who can’t pay for them or not, whether you think the banks caused this mess or not; NO matter what you think about any of these issues, most of us are really not seeing the TRUE UNDERLYING reasons for any of it. We are still NOT ‘following the money’ and are missing the 3 main points for the entire past 3 months of hysteria. Everything is always in 3’s! So what are these 3’s? 1. The media’s horrid need for ratings! 2. Shorts trying to bring down our financial system – Round 2! 3. Bond vigilantes trying to prevent their total demise! Today I am focusing on #3, and the biggest and most horrid of all these bond jerks:
What Pimco has been allowed to get away with is beyond belief - really just total disgust! They have led an orchestrated effort to destroy most of the civilized World in order to maintain their bloated Treasury and bond holdings. Their 'New Normal' promotion through CNBS is just another example of their desire to foster their own growth at the expense of everyone else's. After shorting the heck out of Greece last year at this time, they are now shorting Bank of America’s (BAC) stock while they try to extort mortgage ‘putback’ money's that they should have done their own due diligence on in the 1st place. Hey Pimco -- you wanted those sub primes... well now live with your bet! I am not surprised by this, but what I do find revolting is how Pimco was able to convince Blackrock (BLK) and the NY Federal Reserve into joining them with this putback extortion. Hey Cuomo - why haven't you probed this under the RICO laws before you assume your new office! Sure sounds like EXTORTION to me and last time I looked… EXTORTION was ILLEGAL! And personally I find it totally apprehensible that the New York Fed, basically a public entity, joined in on this; considering that it was probably then NY Fed Chairman Geithner who convinced (forced) BofA to buy ALL of Countrywide in order to save the entire mortgage market in the first place. Sort of like what Hank Paulson did to Ken Lewis to buy Merrill! Sound familiar? In any event, this entire Nation should be screaming foul at all of this. Personally, I am sick and tired of some trying to recoup their losses for no damn good reason. Anyone interested in giving me 'putback' on my stupid bets? I thought not! _______________________________________ apppro’s take for 11/03/2010 @ 07:00 am EST: I really don’t see anything in this election, or even in the much hyped and anticipated sailing of QE2 to give me any great hope that anything will change. The one main thing that still exists, probably more now than any time in the past, is this trader/traitor mentality and the desire to short everything we hold near & dear into the toilet for short-term gain. “It’s The Mentality Stupid” and this election has changed none of that! STOP THE INSANITY NOW! Revised Tax Rules: 1. Capital gains 5+ years - 5% tax on capital gains 2. Capital gains 2 > 5 years - 15% tax on capital gain 3. Capital gains 1 > 2 years - 35% tax on capital gains 4. Capital gains 6 > 12 months - 45% tax on capital gains 5. Capital gains under <6 months - 55% tax on capital gains 6. Most critical of all — Institute a capital gains tax of 65% on ALL short sales not directly tied to a long buy by a regulated hedge fund.
The 5 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 not directly tied to a long buy by a regulated hedge fund! 5. Have ALL ETF’s trade on a 20-minute delayed basis. Get these instruments of mass destruction back to what they were supposed to do: mimic mutual funds. _______________________________________ apppro’s take for 11/01/2010 @ 08:00 pm EST: Over and over again I keep screaming about the short-term mentality of the past several years… today was just a prime example of how this is destroying our markets, our economy, and our entire self-being. A really unimportant and obscure little reporter came out with some old, meaningless, but extremely sensationalistic headline on JPM Chase. (Continued on page 56) |
