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The Stock Room page 78
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(Continued from page 77)
What ever happened to: BUILD.. BUILD.. BUILD. JOBS.. JOBS.. JOBS. DRILL.. DRILL.. DRILL. _______________________________________ seeker’s take for 03/22/2009 @9:00 am EST: seeker’s website: PointofLife.com
Dances With Short - Sellers By Michael Levy
In the short-seller's ballroom dancing in masquerade shams villainy marks each card the notorious pedaling two step the infamy dealing waltz the cunning quickstep the deceitful tango the shifty cha-cha-cha the shuffling rumba wink a gliding eye waggle a snaking tongue move those sneaky hip-hip-hips cavorting to monetary music with a devilish financial beat
Side note: I promise this will be the last one. Sorry seeker. _______________________________________ apppro’s take for 03/21/2009 @ 9:00 am EST: Supposedly, the Treasury via Geithner will unveil their long awaited plan to fix the so-called ‘Legacy’ assets (a.k.a. toxic, subprime, whatever). Whippee do! Won’t mean anything! The shorts are still in control and we have no clear indication on when the SEC & FASB will handle the market forces that have enabled the shorts to proceed with their ‘Shorting of America’. Deplorable! Just deplorable! So this week we will get a new plan that will fix the banks’ issues. U.S. Sets Plan for Toxic Assets - WSJ.com Please understand what they are doing. Talk about AIG outrage over a few hundred million – we’re talking about several Trillion in this Treasury backed ponzi scheme. Let’s remember back to the undeniable fact that short sellers used rumorboarding to destroy the CDO’s value thru confidence destruction. Their scenarios still have never played out – 92% of all those mortgages are still being paid and serviced on time. The shorts’ doomsday scenarios never occurred, but they accomplished what they wanted: To stop the trading of these assets, and Therefore destroying their value, and Therefore destroying the stock price of the underlying company, and Therefore the shorts covered their positions with outlandish profits. Hey, where’s their windfall profits tax like AIG? Now, the Treasury is going to give/lend the same people who destroyed those assets and our economy along with it, billions upon billions to buy those same assets at such ridiculously cheap prices. Talk about real crappola! This has been the shorts plan all along. They made an outrageous fortune on driving the assets prices down, and us along with them; just so that they could now make a 2nd outrageous fortune by buying these distressed assets (remember who distressed them in the 1st place) at fire sale prices. Deplorable! Just deplorable! _______________________________________ apppro’s take for 03/14/2009 @ 8:00 pm EST:
So what happens now? We finally had better then expected retail sales (or at least sales that weren’t worse). 3 major banks came out and said, “Hey, we’re making money – not loosing it!” Consumer confidence actually ticked up due to lower gas prices and heating oil prices. And lot’s of other issues that are more market technical in nature. But above all, what we got was a glimmer of hope that people are finally recognizing that we got into this mess MORE due to the unabashed ‘Shorting of America’ then due to almost any other reason; and by reforming and/or reinstating a few simple rules, we just might get these asswipes and restore sanity to our markets. Now more then ever I feel everyone sees more clearly the connection between a healthy & calm Wall St. and a healthy & calm Main St. I especially want you to listen to this Cramer video and his rant on the “Greater Good”. He really hits the mark this time. So what happens now? Next week may be a really good clue as to whether we eventually have WW III and then go back into the stone age; or as I hope and pray, we just calmly resume an economy & market that was not all that bad to begin with. If the shorts regain control of this market and drive us back down to 600 on the S&P and 6500 on the DOW, well as they said when I was in grammar school in response to a nuclear blast, “Get under your desk, bend over, put your head between your legs, and kiss your ass goodbye!” But if the shorts are finally taken out by all reasonable behavior and common sense, then we all may just see that Spring is truly on its way.
“Little darling it’s been a long and lonely winter. Little darling it feels like years since it’s been here. Here’s comes the sun.. here comes the sun.. and I say.. it’s alright.”
So what happens now? I see a long period during which we just hang around these levels in the three major indices. While 1 sector like financials may go up somewhat, another sector will drift down to compensate. This period of what many call, “forming a base” would be healthy and calming; and for one – I would consider it a blessing. My sphincter muscle just can’t take the volatility any more! However, this is still all contingent upon them reinstating the up-tick rule that the SEC said would happen by April, and by amending ‘mark to market’ which FASB & Congress said would start this coming Monday. Reigning in the shorts is still the main variable into bringing back market sanity and economic stability. _______________________________________ apppro’s take for 03/13/2009 @ 8:00 am EST:
The Butterfly Effect via The Conspiracy Theory
I screamed in the Fall of '07 that Bill Ackman was abusing M2M in order to destroy the CDO's of MBIA (MBI) & Ambac (ABK), the monolines... remember them? I blogged that he was using contrived and exaggerated scenarios based on the newly passed M2M, and his assumptions were erroneous based on then timely information. No one listened. He consequently was able thru repeated rumormongering and appearances on CNBC where he was glorified as a hero; to destroy all confidence in those CDO's, so he could cover his short positions. This was the START of all this and we now know what his actions have caused. The 'Butterfly Effect' to an extreme. We blame housing and the so-called poor conduct of the banking CEO’s for our current predicament. It’s about time we place the blame squarely where it belongs. _______________________________________ seeker’s take for 03/13/2009 @7:00 am EST: seeker’s website: PointofLife.com
The Short-Sellers War on America by Michael Levy
US corporations have become quite deranged, as they watch their stock price turn into loose change,
In ‘free n open’ markets speculators trade with glee, disintegration, with the blessings of the SEC,
The financial terrorists laugh all the way to the bank, as they foresee the wealth of America tank,
The deluded greedy exercise ... Ultra-Short Index ETF derivatives, embodying fiendish destructive short-sell initiatives,
built with the devil’s cunning instruction, he jovially calls them his ...Weapons of Mass Reduction. _______________________________________ apppro’s take for 03/12/2009 @ 5:00 pm EST: OMG, finally someone said on TV what I’ve been screaming about for almost 2 years now, that our current crisis was created and promoted by short sellers. In the following video (almost at the end) Brian Westbury from First Trust calls it!
Thurs. Mar. 12 2009 | 2:45 PM[06:31] I really wanted to go on and on about this, but less said.. best said. _______________________________________ apppro’s take for 03/07/2009 @ 8:00 am EST: OK everyone, are you all ready to kiss me now? Listen to the Congressman from Oregon and his plan to put a tax on trades to help pay back the TARP money and help pay for this mess. Sound familiar?? I’m just loven’ it! I’m not loven’ the type of tax he wants, my tax plan ‘The Fix’ posted on 03/22/08, especially my new Golden Rule #4-Windfall Capital Gains Tax on short sales, are SOOOOOOOOOOOO MUCH better; but I am loving the mere thought of someone out there is even talking about it!!!!!!!!!!!!!! Besides, anything that scares the living crap out of those jerks on CNBC’s Fast Money like this does, sure gets my seal of approval no matter what! They called their segment: ‘War Against Wall Street’, but I call it: Fast Money traders running Scared!!!!!!!!!!!!!!! _______________________________________ apppro’s take for 03/06/2009 @ 8:00 am EST: Last night I had a very heated argument with a large group of family members over ‘The Shorting of America’. I have to apologize for the in your face discussion I used, which is exactly like some of the media reporting I have been so critical of. For that I truly do apologize. Please don’t get me wrong; I am not an anti short seller per se. They do serve a function and like that disastrous ban this past fall, I do NOT believe that short selling should, or needs to be stopped. This has never been my argument and never will be. Hedge funds that use short sales as a buffer (hence the word hedge) against losses is a viable and excellent way of investing. I personally can’t see how they can so quickly match losses against gains (probably the reason why so few of these true hedge funds stay in business), but it is still a viable way to earn money for their clients. In many ways I don’t’ disagree with the small amount of hedge funds that are really just ‘short funds’. As I blogged a couple of years ago, these guys have suffered losses for a long time and will (should) have their day in the spotlight also. However, I’m not a fan of the ‘shorts point out our inadequacies’ argument. Who asked them; but many feel this is a real benefit, so fine; I’ll give you that too for now! BUT what I do have issues with are the small group of deplorable shorties that have used this psychologically poor time to manipulate the markets through rumormongering, exaggerated scenarios, media manipulation, abuse of newly formed ETF’s, the hardcore lobbying of our SEC to get their way, etc.. etc.. etc! Please, no one can justify the severity of the collapse to our society since July 0f ’07 when the SEC eliminated the Up-Tick Rule, and especially since David Einhorn took down Lehman’s in September ‘08. There is a limit to unwarranted ‘creative destruction’ and when it totally overshadows the ‘greater good’, things have to be addressed with a more vigorous approach. Hence: 4. Pass a Wind-Fall Capital Gains Tax of 65% on ALL short sales retroactive to 01/01/08. _______________________________________ seeker’s take for 03/05/2009 @5:00 pm EST: seeker’s website: PointofLife.com Allowing the short selling of derivatives in a recession is akin to giving Jack the Ripper the key to the city!_______________________________________ apppro’s take for 03/05/2009 @ 8:00 am EST: I just thought some of you would find this Yahoo Chat Board thread amusing. How the hell anyone can even think this is beyond comprehension! _______________________________________ apppro’s take for 03/04/2009 @ 5:00 pm EST: In response to seeker’s post below — well he’s absolutely right, but no one cares. As a matter of fact, it appears that most have given these shorties some kind of honorary knighthood! Deplorable! Just deplorable! __________________________________________________ seeker’s take for 03/04/2009 @5:00 pm EST: seeker’s website: PointofLife.com
Stock Market Propaganda = 911 Financial Terrorism by Michael Levy
Everybody now knows that $147 a barrel oil was a speculative bubble fed by expert propaganda. There was never a shortage of oil yet lies that turned into propaganda and then spouted as expert opinion sent oil into unrealistic levels. Today we have the same type of intellectual propaganda feeding into short selling derivatives like index fund ETF’s that are leveraged to take a basket of stocks down in double quick time. If terrorists wanted to destroy the world investment system what better than to get experts to state how dire things will become and use fear based propaganda, rumors and lies that allow short selling speculation to send stocks into a tailspin. Good stocks will do well in bad economies and bad stocks will do badly in good economies, however ETF short derivatives take the majority of good stocks down with the few bad ones. The only way to regulate an over-leveraged system is to halt all short selling for a while. Bring back the up-tick rule when short selling returns and check who is buying short index ETF’s in large quantities. The time for government action is now!_______________________________________ apppro’s take for 02/26/2009 @ 7:00 am EST: Here’s a great article on ‘The Shorting of America’ and you should read it over. BUT more importantly, everyone should go to the below link and SIGN THE PETION TO REINSTATE THE UPTICK RULE. Takes 2 seconds so do it NOW! (Continued on page 79) |
