coolhand's Account Talk

[coolhand]

The SPX is now up 46% since its March lows. The transports today were up 3.3% - moving above their triple top - a very bullish pattern. Should I take my snake oil some place else?

You're way too cocky. That's not what this board is about. Your buy and hold strategy will always be challenged just like my market timing strategy. Get used to it.

Three months ago a cash position in the G fund was beating your buy and hold all the way back to 1997.

It's all about perspective and context BT. It's a concept you have a hard time with.

Having said all that, I'll also add that you do have some good things to add to the board, just don't ever hurt your arm patting your own back.

 

[Birchtree]

Thanks coolhand I'll take that as a compliment. The Coppock Curve did flash a buy signal to indicate the onset of a new bull market. Now that was cocky. This market is sending a clear message to Obama and that is he needs to move to the center. $48K today - what a laugh.

 

[Bullitt]

Maybe tomorrow we'll find out how far ahead the Nasdaq is from it's mean after what's being described as 'misses' from MSFT and AMZN. I don't trust after hours trading no matter what the volume is since all it takes is one player to move the stock, but I'm sure they're looking to open it lower.

 

[coolhand]

Maybe tomorrow we'll find out how far ahead the Nasdaq is from it's mean after what's being described as 'misses' from MSFT and AMZN. I don't trust after hours trading no matter what the volume is since all it takes is one player to move the stock, but I'm sure they're looking to open it lower.

Check your PMs.

 

[coolhand]

http://www.washingtonexaminer.com/o.../Take-the-red-pill-Mr-President-51473502.html

 

[coolhand]

This market is sending a clear message to Obama and that is he needs to move to the center.

While we may not agree on portfolio management, I am at least happy we can both agree on politics.

 

[coolhand]

I've found a viable Democratic candidate for the next election.

http://cfecon.blogspot.com/2009/07/how-to-solve-all-of-californias.html

 

[WorkFE]

I was really curious how Cal. got into this financial mess. Now I know thanks to Coolhand.
She is a poster child for banned pregnancies.

 

[coolhand]

Good TA on S&P.

http://broadcast.ino.com/education/sp500723/

 

[coolhand]

Some trade techniques to know and master.

http://club.ino.com/trading/2009/07/mental-aspects-of-trading/

 

[coolhand]

Latest insider activity.

http://www.investshare.com/services/newpci.gif

 

[coolhand]

Short term turn coming?

 

[coolhand]

BDI looks like it's still struggling to move any higher. Still a long way to go from where we were two years ago.

http://www.investmenttools.com/images/wfut/crb/bdirecent.gif

 

[nasa1974]

Thanks CH, some pretty neat stuff.

 

[coolhand]

Rep. Alan Grayson (D-FL) laughs at Ben Bernanke. Amazing dialogue.

http://www.youtube.com/watch?v=00EC...A0371B10&playnext=1&playnext_from=PL&index=28

 

[Boghie]

Rep. Alan Grayson (D-FL) laughs at Ben Bernanke. Amazing dialogue.

http://www.youtube.com/watch?v=00EC...A0371B10&playnext=1&playnext_from=PL&index=28

CoolHand,

Bernanke answered this lawyer/politican's question as best he could - considering who he was talking to.

Basically, the FED loans money to foreign central banks to facilitate trade and commerce in dollars. Oil is traded worldwide in dollars. Many currencies worldwide are backed by dollars and pegged to dollars. Other commodities and any purchases of American exported products are traded in dollars.

And, we got EUROS (and other currencies) with interest. Actually a nice trade, eh. The Euro appreciated against the dollar. Two wins.

To me, this is similar to the way the FED loans to our national banks. For the same reason.

We are a One World Economy - Ours

 

[alevin]

Let's see, the U.S. is diversifying into euros, Beijing is diversifying into commodities, isn't anybody diversifying into $ anymore???

 

[coolhand]

What I basically take away from this exchange is that even smart people do not understand what the Fed is doing. They do not generally answer to congress and can throw money around with impunity.

I don't know if what the Fed is doing is a good thing or not, but there's not much transparency in their operations.

A half a trillion dollars is an amazing amount of money to send to a country like New Zealand. I think I'd like to know the details of that decision if I was congress.

I think Alan Grayson's inquiry was shedding light on the absolute power of the Fed and the lack of control our Government has over their decision making process.

CoolHand,

Bernanke answered this lawyer/politican's question as best he could - considering who he was talking to.

Basically, the FED loans money to foreign central banks to facilitate trade and commerce in dollars. Oil is traded worldwide in dollars. Many currencies worldwide are backed by dollars and pegged to dollars. Other commodities and any purchases of American exported products are traded in dollars.

And, we got EUROS (and other currencies) with interest. Actually a nice trade, eh. The Euro appreciated against the dollar. Two wins.

To me, this is similar to the way the FED loans to our national banks. For the same reason.

We are a One World Economy - Ours

 

[coolhand]

http://www.consumeraffairs.com/news04/2009/07/economy_consumers.html

 

[Boghie]

The World Needs Dollars...

CoolHand,

The world runs on dollars. Other folks outside of our borders require dollars for many, many transactions. How does New Zealand buy oil without dollars. Anyway, New Zealand didn't get a half trillion dollars. And, we didn't give them anything - we currency traded on a national bank to national bank level.

Regardless, I really don't want Alan Grayson, Nancy Pelosi, Harry Reid, Ted Kennedy, President Obama, President Bush, Jim DeMint, or that K Street Guy from Texas managing the money supply. For all their faults Bernanke, Greenspan, and Volker have done a good job.

Rather have the FED trade currency than George Soros right about now, eh