350zCommtech's Account Talk

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350zCommTech said:
It's working great for day trading and I'm having a lot of fun with this volatility, going back and forth with SDS and SSO.:)

The failed back in Europe is currently killing the Yen carry trade. Nikkei futures are down 635. The USD/YEN was oversold and is trying to bottom out. We might have seen the lows for the day for the market.

The possibility of this bill not passing is also keeping this market down. Even if it does pass, a bounce might not last. This bill does not fix the underlying problems.

The move in the bond market today is too big, which would help the markets tomorrow.

IMO, too risky right now. Paulson has been lying all along about most of everything, including the urgency of this bailout. He intends to allow more banks to fail in the next week or 2.
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Have fun with SDS and SSO ... and I noticed that Nikkei futures number too (old habit from my days reading you on the "I" thread).

I believe that you've been saying all along that this was a securitization issue and you're right. This is NOT a cash problem, this is a capital problem and those problems are not solved with cash -- that's why this bailout is, at best, suspect. You have to get to a root of the problem and make the securitized loan market transparent. Not all home and business loans are bad!!! The Federal Home Loan Banks could do this without the cash. They already have the infrastructure and it is designed to make this risk known -- not S & P nor Moody's (thank you very much aiders and abettors). You thus let the government retain the lender of last resort status, let the taxpayer/gov't keep the money and break up the securitized instruments into the different classes of "debt risk" instruments -- no more buying insurance to achieve/retain that AAA rating. But the last thing Wall Street types want is transparency, so, it'll never go anywhere and I'll just do the best I can and play with the 2 IFT's (muchas gracias senora Ray).

--- Let me know when you break 90 -- post your scorecard on an attachment or something. Fall/early winter is good for the scorecard -- greens are mowed less frequently and at a higher depth so they're slower and have less break, the rough usually goes dormant sooner than the fairway and long sleeves tend to make you focus on the swing and not on the results. Good luck!
 
Minnow said:
I believe that you've been saying all along that this was a securitization issue and you're right. This is NOT a cash problem, this is a capital problem and those problems are not solved with cash -- that's why this bailout is, at best, suspect. You have to get to a root of the problem and make the securitized loan market transparent. Not all home and business loans are bad!!! The Federal Home Loan Banks could do this without the cash. They already have the infrastructure and it is designed to make this risk known -- not S & P nor Moody's (thank you very much aiders and abettors). You thus let the government retain the lender of last resort status, let the taxpayer/gov't keep the money and break up the securitized instruments into the different classes of "debt risk" instruments -- no more buying insurance to achieve/retain that AAA rating. But the last thing Wall Street types want is transparency, so, it'll never go anywhere and I'll just do the best I can and play with the 2 IFT's (muchas gracias senora Ray).
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They don't want transparency because it will expose their lies, but they need transparency if they want the credit markets to regain confidence. Sort of a catch 22. That's why they want this bailout.

Folks, remember the super SIV that they tried to create earlier this year? It was suppose to have been an entity for them to dump their toxic assets. It didn't get off the ground because they were told to fund it themselves. This bailout is a version of that super SIV, but funded by the US taxpayer. That is why I am against this bailout. It is a looting of America.
 
350zCommTech said:
They don't want transparency because it will expose their lies, but they need transparency if they want the credit markets to regain confidence. Sort of a catch 22. That's why they want this bailout.

Folks, remember the super SIV that they tried to create earlier this year? It was suppose to have been an entity for them to dump their toxic assets. It didn't get off the ground because they were told to fund it themselves. This bailout is a version of that super SIV, but funded by the US taxpayer. That is why I am against this bailout. It is a looting of America.
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You know, the more I think about this, the more I suspect you're right about Paulson (not that I ever doubted you :) ).

I'll bet he and Bernanke considered the Federal Home Loan Banks (after all, they're privately capitalized to the tune of billions and are used for home loans and localized government and private corporation projects) and even went to these institutions with the idea of selling them on it and they were like, "Yeah, sure, how about the Fair Accounting fellas? You know, the part about opening up those books and us being able to fairly appraise all that debt you're talking about? We do have rules after all."
Then, old King Hank in his fairly expensive suit trying to explain credit derivatives to someone who already saw this coming from a mile away and probably has a few of these toxic instruments on his books but has them appraised and accounted for properly ('cuz these banks have true capitalization requirements for debt guarantees) in his "sucker" category. So, Wall Street Hank doesn't get a nibble and now he and Ben take their case to the people/taxpayers who deserve a better accounting system but will never get it. It's just a shame. They have their SIV right there but they will have to pay the piper and open up all the books (Oh my, even the ones at Goldman!) ... Just pull off the band aid boys, don't keep packing the wound!!!
 
If what Paulson says is true, I imagine we'll see several failures financial/and others in the next few days... here's the death spiral. What fundamental reason would there be to go long? None, until private equity and the sovereign wealth funds swoop in to buy blood on the street.
 
fedgolfer said:
If what Paulson says is true, I imagine we'll see several failures financial/and others in the next few days... here's the death spiral. What fundamental reason would there be to go long? None, until private equity and the sovereign wealth funds swoop in to buy blood on the street.
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These failures were happening and were going to continue anyway, despite the bailout. Private equity and SWF won't swoop in until we have transparency.
 
nasa1974 said:
Even with lower mortgage rates unless you have excellent credit (750+) you will not be able to buy a house. Or you will have to have 50% down.

May the force be with us.:cool:
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Yup, if they had passed the bill, we might be looking at 7% int. for 30yd mortgage.

There is nothing wrong with renting. Home prices need to fall to affordable levels.
 
nasa1974 said:
Even with lower mortgage rates unless you have excellent credit (750+) you will not be able to buy a house. Or you will have to have 50% down.

May the force be with us.:cool:
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Shouldn't you have excellent credit and 20% down to even get a home loan? Gas price drop back to $2.50 puts, conservatively, $150 monthly back in motorists pocket -- now take our driving habits from expensive gas and use those habits wisely (hell, how about an energy independence agency in the mold of NASA -- you guys are some pretty smart fellas).

Transparent and responsible lending and borrowing and a nation geared toward energy independence is what I'm rooting for... Now who in the world should I vote for? Those two that debated the other night? Geez... I'm voting for ME the american taxpayer... and today was our first victory!!!
 
350zCommTech said:
Check this one out. The fund starts at around the 6 minute mark when Rick Santelli comes on.:D

http://www.cnbc.com/id/15840232?video=872162980&play=1
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Rick is the Man. He thinks and speaks independently. He has made me money.

Thanks, 350Z :D

I'm getting prepared to make a move soon. We need to figure out if this Bill will pass on Thursday. If it does the market's will explode for possibly 1 day. Then again thing's can happen before then. I'm also thinking their will be an interest rate cut.
 
poolman said:
Rick is the Man. He thinks and speaks independently. He has made me money.

Thanks, 350Z :D

I'm getting prepared to make a move soon. We need to figure out if this Bill will pass on Thursday. If it does the market's will explode for possibly 1 day. Then again thing's can happen before then. I'm also thinking their will be an interest rate cut.
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Poolman,

I could be wrong, but I think this bill is done. They will probably make a few changes, put a new shade of lipstick on it, and give it to the house again for a vote. I don't know if they can get her done by Thursday.
 
350zCommTech said:
Poolman,

I could be wrong, but I think this bill is done. They will probably make a few changes, put a new shade of lipstick on it, and give it to the house again for a vote. I don't know if they can get her done by Thursday.
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Thanks, I am totally against this Bill. I'm trying to also follow the money. In all Honesty I hope the Bill fails again but They are going to try like crazy to stabilize the market's. Some will cave when we go down another 2000 point's and that is totally possible. Wall street is crying like a baby
mommy.gif
and I wonder how low they will take it.

I say let the market's figure this out and the Bank's fail. I don't want to start a rant but this bubble has been coming for a long time. I can't believe some didn't see it. :laugh:
 
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