coolhand's Account Talk

[coolhand]

Closing the Markets?
That would be a very bad move. They've pissed off Joe Six-Pack bad enough already.

I agree. From the Central Bank perspective, they have almost no options left to stop the carnage. Maybe if they locked up the markets it might allow fear to subside while they discuss options with the corporate elite. I'm not advocating the idea, but they definitely need to buy some time to work out a plan.

 

[Silverbird]

If you locked up the markets, as soon as they opened back up you'd have a run on the market.

 

[Miss_Piggy]

I am hearing rumors that the G7 (which is meeting today), is considering closing the markets next week. If we don't close up today I would not be surprised if that happens.

Drudge is now saying the same!

Time to reconsider a previous post of mine which seemed to be just fear mongering at first:

I received this email tonite saying:

"[FONT=Arial, Times New Roman, sans-serif]The Fed has informed Bank of America to be ready for a one-week universal shutdown of the banking system, including access to checking accounts, savings accounts and credit cards. This is why you need $5,000 in small bills in your safe at home and small denomination gold and silver coins."[/FONT]

This is from a Bob Chapman, International Forecaster. I have never heard about him. Anyone have any insights or knowledge of him?

The full article can be found here: http://tinyurl.com/3qvdd3

 

[nasa1974]

I am hearing rumors that the G7 (which is meeting today), is considering closing the markets next week. If we don't close up today I would not be surprised if that happens.

If that is a true statement then the loss yesterday will not compare to todays loss. Even though the market is down it has been steady, C at 4.81% and S at 11.75%. If not a positive day at least as close to 0.00% as possible. GL to all.

 

[nnuut]

If that is a true statement then the loss yesterday will not compare to todays loss. Even though the market is down it has been steady, C at 4.81% and S at 11.75%. If not a positive day at least as close to 0.00% as possible. GL to all.

The 11.75% number for DWCPF doesn't agree with EMW on Stockcharts 5.44%?? Someone is wrong! RUT, TRAN etc. are not that low, I think Yahoo's data may be wrong.
Check it out.
http://stockcharts.com/h-sc/ui?s=$EMW&p=D&yr=0&mn=9&dy=0&id=p55192775979

 

[RunningFool]

The selling can't go on forever. Can it? :blink:

As long as we're still above zero it can.

 

[coolhand]

As long as we're still above zero it can.

Ha. Of course. But I was just expressing a little bit of frustration there. If goes down that low we've got bigger problems then our TSP accounts.

 

[coolhand]

If you locked up the markets, as soon as they opened back up you'd have a run on the market.

It sounds like economic suicide to be sure.

 

[coolhand]

If you locked up the markets, as soon as they opened back up you'd have a run on the market.

I cannot speculate what may happen if this were to come to pass. It may depend on how they structure the reopening. But, I think we also have to consider just how dire things may get if they do nothing.

It's seems to be a perfect storm they've made for us. On a global scale.

 

[nasa1974]

The 11.75% number for DWCPF doesn't agree with EMW on Stockcharts 5.44%?? Someone is wrong! RUT, TRAN etc. are not that low, I think Yahoo's data may be wrong.
Check it out.
http://stockcharts.com/h-sc/ui?s=$EMW&p=D&yr=0&mn=9&dy=0&id=p55192775979

nnuut, You are correct. Just after I posted the numbers my website updated. Currently not looking good for the home team. Both C and S hovering between 6.5 and 7.

 

[coolhand]

Drudge is now saying the same!

Time to reconsider a previous post of mine which seemed to be just fear mongering at first:

We need to hold those responsible for this collapse to account. Here is a suggested letter that should be sent to your Government representatives:

Dear [recipient name was inserted here],

I am one who is fed up with the way Washington is being run. We demand an explanation on how this financial crisis happened and who was responsible for it!

If laws were broken, we want those responsible prosecuted. For those who acted unethically, we want to know who they are and what they did. We want hearings on this matter, and we demand that they be open, not behind closed doors!

We want to hear from you that you support open hearings. We hold Congress responsible to get to the bottom of this matter so that it will never happen again!

Sincerely,

 

[coolhand]

I think these links will get that letter where it needs to go.


http://tinyurl.com/5myvb


http://www.house.gov/house/MemberWWW.shtml

 

[Silverbird]

Hearings, they don't have to testify. We need the FBI on these guys.

 

[RunningFool]

If they shut down the markets it will be the end of free market economies as we know them. Whatever comes back will be a different animal and market crashes will not be allowed. IMHO.

 

[coolhand]

Hearings, they don't have to testify. We need the FBI on these guys.

Whatever it takes. We need action and we need accountability.

 

[coolhand]

If they shut down the markets it will be the end of free market economies as we know them. Whatever comes back will be a different animal and market crashes will not be allowed. IMHO.

Yes. There is so much smoke in the air right now we don't know how this will eventually play out. But I do think that whatever we thought was normal before all hell broke loose, is now gone. Things are almost certainly going to change down the road and we may or may not be happy with what the future brings.

That may sound dire, but this really is a serious situation and Government's aren't always known for being particularly competent. And the people don't always know what's good for them either.

 

[Birchtree]

I think we will rebound quicker than a sixteen year boy having sex for his first time.

 

[coolhand]

I think we will rebound quicker than a sixteen year boy having sex for his first time.

I hope we do Birch. But I suspect it won't change things a whole lot. I can't see any rebound having more than short term effects. Aside from that though, most folks aren't as savvy as you are about the market. Most know very little. It's their voice that will be loudest.

 

[coolhand]

Right after I sent out my letters the market turned. Hard. See what a little pressure can do...lol

 

[Miss_Piggy]

We need to hold those responsible for this collapse to account. Here is a suggested letter that should be sent to your Government representatives:

Dear [recipient name was inserted here],

I am one who is fed up with the way Washington is being run. We demand an explanation on how this financial crisis happened and who was responsible for it!

If laws were broken, we want those responsible prosecuted. For those who acted unethically, we want to know who they are and what they did. We want hearings on this matter, and we demand that they be open, not behind closed doors!

We want to hear from you that you support open hearings. We hold Congress responsible to get to the bottom of this matter so that it will never happen again!

Sincerely,

You could send a fax of coolhand's letter for free here:

Link for sending free faxes over the Internet: http://faxzero.com/

Other resources for sending faxes over the Internet: http://www.savetz.com/fax/

Disclaimer: I have not tried these myself but there are reviews.