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The Stock Room page 75
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(Continued from page 74) But this doesn’t go way far enough! The entire issue of how we trade is still at issue. The ‘trader mentality’ I’ve spoken about must stop, and I am still convinced that taxing these traders/traitors to promote long-term investing and punishing short-term thinking is the only way to go. But even this won’t help if we don’t do something about SkyNet. Our own technology is quickly becoming part of the problem instead of the solution. This hyperized woman scares me to death! Let me throw something out there and see it sticks/stinks! What would happen to our entire system if a few hundred/thousand traders decided to launch a Twitter attack on a stock or the market in general? Thousands instantaneously buying and selling the same stock. Manipulation gone wild! Now that’s scary! So where do we go from here? This market still scares the crap out of me; and for no better reason then someone farting, this market could sell off really hard and really fast. Pundits say take some profits. Maybe true, but paying 28% short-term capital gains tax on most of my present profits is abhorrent to me. Besides, I practice what I preach and short-term trading is still a no-no. Also, if this market keeps going up and I did sell – well then I’d be really pissed. However, if I don’t sell and the market goes down, well that will make me truly crazy! Moe.. Larry.. Cheese! _______________________________________ apppro’s take for 07/21/2009 @06:00 pm EST: Today I found 2 things that truly showed me just how bi-polar this market, and our entire society in general have gotten. Firstly I read this fabulous article by The Motley Fool on how inundated we are with all kinds of superfluous and usually erroneous information. Most of this information is supplied by you know who (shorties), but this MUST read article puts it into a perspective that most of us can appreciate. READ IT DAMN IT!!!!!!!! You haven’t listened to me, maybe you’ll listen to these guys. The 2nd thing was the earnings report issued today by TD Ameritrade (AMTD)– it was GREAT! So what’s my issue, well it’s WHY it was so great – increased trading! Hey, didn’t we just go through a period of horrible uncertainty and poor economic conditions? Shouldn’t people be more conservative with their money? Well, according to AMTD their clients are trading like crazy and it’s like the Wild West on their website. What the hell is going on here!!!!!!!!!!!! Are we all NUTS!!!!!!!!!! _______________________________________ apppro’s take for 07/18/2009 @09:00 am EST: I was preparing a blog on long-term investing and my view on how distorted our investment philosophies have gotten, but then yesterday we lost a truly great American – Walter Cronkite. I was born just 1 year before Walter took over as a TV newsman in 1951, and he was basically with me throughout my life sharing his unbiased reporting on the World’s events. His reporting of these 3 events especially, transformed my view of the news and of life as a whole. Neil Armstrong landing on the moon. “One small step….” Walter’s totally clear and truly UNBIASED reporting has always been the standard by which I judge every news personality, and reporting in general. Maybe now you can understand why I am SO critical of the current news media, and that is especially true of the financial news and the sensationalistic & biased way it is ‘transmitted’. (I was going to say ‘reported’, but that word is not appropriate here.) Today we lost a great American, but we are all better off for his everyday/everyman reporting of the news in his uniquely honest and sincere baritone voice. Thank you Walter and please keep an eye over us all. Rest well Walter, you will be missed.
_______________________________________ apppro’s take for 07/15/2009 @06:00 pm EST: I commented last week on just how schizophrenic this market truly is. Some Prozac is totally called for! I said that the market seemed like it wanted to head back into financial Armageddon. UGH! This week, so far that is Happy Days are back again, what happens tomorrow is up to you. Not really, both you & me have no real influence here – we’re just along for the ride in either direction! Don’t feel bad, because even the so-called professionals are clueless.
They would have you running in circles, too. “Moe.. Larry.. Cheese.” But most importantly, they keep telling you one thing and then as soon as it doesn’t come true, they tell you see, “I told you this would happen, if that didn’t happen.”
Tomorrow we need to worry about the weekly employment #’s and what JPM Chase reports as earnings. If either of these 2 things disappoint, well then.. “I pity the fool!” These up and down swings are no good for anyone. As I have said consistently over the past 2 years, that until we do something about ‘The Shorting of America’ and the ‘trader mentality’ that has evolved, we will have doomed ourselves to reliving this insanity over and over and over again. I still say that the only ways to fix it are reinstating those trading rules that the SEC eliminated and by instituting tax codes that reward the long-term investor, while limiting that short-term monster. _______________________________________ apppro’s take for 07/14/2009 @06:00 pm EST:
Twitter Wars: Michael Moore Gets Blitzed by "Stock Shock" Filmmaker Sandra Mohr - Yahoo! News The author of the article uses the term ‘hilarious’ to describe the tone of the movie “Stock Shock” which depicts Sirius’ fall from the heavens, so to speak. I got to tell you that I really don’t find the deplorable manipulation that went on with SIRI over the past 1-½ years; or the entire market for that matter funny at all! Not one single bit! IT’S NOT FUNNY!!!!! But rather: DEPLORABLE! JUST DEPLORABLE!
The 4 Golden Rules 1. Reinstate the Up-tick rule 2. Crack down on naked short selling 3. Institute some rules on what should be said on National TV to prevent rumor-mongering 4. Pass a Wind-Fall Capital Gains Tax of 65% on ALL short sales retroactive to 01/01/08.
“Stock Shock” depicts serious financial issues covering what went on with just one stock during this recent madness! Key words: JUST ONE, there are plenty more involved with ‘The Shorting of America’! _______________________________________ apppro’s take for 07/11/2009 @07:10 am EST:
The past 2 weeks, this week especially, should have shown everyone just how dependant we are on our own emotions. With mostly reasonable news, for these times that is, we still allowed a few media pundits to convince many of us that Armageddon is again knocking at the door. Consequently, the market sold off. I just don’t understand what these people want anymore! Does the entire economy have to go into a deep, dark toilet in order for them to be satisfied? I just don’t understand it! As a prime example, this week an advisor to the Prez was reported as floating the proposal for a 2nd stimulus package. Whatever! In my opinion they should be stimulating everything and everyone to the hilt, but most of the media pundits seized upon this proposal as highly inappropriate, and bashed it over and over again as extremely inflationary with no way to pay for it. The shorts loved that and accelerated the market sell-off. I don’t want to get into the merits of stimulus vs. inflation, but can any of you really say that a 10 year depression followed by a 3rd world war is better then some higher prices? Give me a break! Friday night Laura Tyson, Haas School of Business came on Fast Money on CNBC. She is the advisor who supposedly put out this 2nd stimulus idea.
Well, basically she said that she never said that, and that all you hyperized media people need to get your act together and stop the hysteria. She didn’t say it quite like that (wish she had), but you get the idea. Hey, you listen to the interview and tell me whether I’m right or just hearing what I want to hear! For a long time now I have said that a big part of this mess was the ‘tail wagging the dog’ and narcissistic, over caffeinated media reporters & financial pundits were doing a good part of that wagging. The above just proves my point. People, we all need to shout loud and clear for these so-called reporters to shut the &$!? up! Hey CNBC especially: JUST REPORT THE DAMN NEWS – DON’T MAKE IT OR ALTER IT TO FIT YOUR OWN AGENDA! On a more calmer note, read this article for a more positive and realistic view. I especially like the comment: “Been there, done that!” _ _ _ _ _ KEEP GOING—A NEW BLOG BY SEEKER ON OIL FOLLOWS _______________________________________ seeker’s take for 07/11/2009 @7:00 am EST: seeker’s website: PointofLife.com
Why $30 a Barrel Oil Could Save Lives, Bring Democracy to Iran and End The War in Afghanistan. By Michael Levy
The UK and France have taken action this week to limit speculation in oil prices. The US government is also seeking a way to limit oil price speculation. It is obvious that lower oil prices can help most corporations and also help people in the price of gas they pay at the pump, which in turn can end the recession. However, there is an even bigger reward for bringing down the price of oil to $30.00 a barrel, which is probably the correct price as governed by today's supply and demand ratio. The lower oil price can bring an end to Iranian backed terrorism and peace to the Middle East and Afghanistan. The more money Iran generates from high oil prices, the more money it has to fund terrorism. For every extra dollar increase on a barrel of oil, the more bullets and guns are given to the Taliban and Al Qaeda to kill Soldiers fighting for freedom and democracy. If oil prices were no longer traded as a speculative commodity and the prices regulated around $30.00 a barrel for the next few years, not only would it bring a swift end to the world recession, it would also kick the legs from under the Iranian government. It would give fresh hope to the majority of Iranians who crave an open election, democracy and freedom of choice. When world economies recover, the war in Afghanistan is over, and a new democratic government is elected in Iran, the price of oil can be brought in line with supply and demand within certain limitations. The world can never again allow oil prices to be manipulated by speculators who have no connection to the oil industry. Even the most ardent free market voice will agree restricting speculation on the price of oil is a price worth paying if it stops state sponsored terrorism and brings about democracy in Iran… Restricting oil speculation and regulating oil at $30.00 a barrel will bring about the changes the world so desperately needs. If Iran if staved of oil revenues that feeds terrorists and the guns and ammunition that kills American soldiers, it will be a worth the US Governments efforts to act decisively right now. The time is ripe for authentic changes and the world hungers for fairness and justice for everyone. _______________________________________ narrator’s take for 07/09/2009 @5:00 pm EST: narrator’s website: stockshockmovie.com by Richard Keane
Below an Army officer expresses his disappointment in the SEC as he protects our country. I ordered and received "Stock Shock" last week. I was blown away by the information disclosed, especially with how the scam of naked short selling works. Why hasn't the SEC closed this financially lacerated artery that is bleeding America dry?! Wasn't this same technique a major contributor to the great stock market crash? Let's all be reminded of what these men and women are fighting for and, more strongly than ever, insist the SEC/government stop the criminal activity in our economy--even if it angers their big-money lobbyists. Market manipulation is stealing away the retirement accounts of the middle class and leaving them jobless. It has done so much damage already. Thanks to the officer for his service and the reminder. _______________________________________ apppro’s take for 07/07/2009 @ 09:00 pm EST: Both seeker and I have blogged ad nausea about the deplorable abuse of the oil markets by speculators. I now see Cramer has joined the bandwagon. Like anyone listens to him either! lol (And that’s a ‘lots of luck’ lol and not a ‘laughing out loud’ lol.) I am glade that he did bring up the direct ties to consumers and National Security, though. The narrator of the Stock Shock movie sent me a few new links. I don’t twit, but I thought you might like to. _______________________________________ apppro’s take for 07/06/2009 @ 06:00 pm EST:
Everyone should try and listen to the following interview with the person who is in charge of unwinding Lehman Brothers. Please pay close attention to what he sort of says (towards the end) on what really happened. What you will hear if you listen is that: Lehman’s was NOT insolvent and really didn’t have to fail. Then why did it? Lehman’s was only experiencing a short-term liquidity issue. Who caused this and why? Lehman’s could have been dissolved slowly without all the pain. So who did it and why did it? Lehman’s was brought down by certain competitors. Was it Goldman Sachs or as I say short sellers? I’m not sure about you, but I’m still very pissed off by the total lack of anyone asking the right questions and providing the right answers to questions that no one seems to want to ask! So, if you haven’t already listened to the interview... please do, because whether you want to admit it to yourself or not, (Continued on page 76) |
