Market Talk / Feb. 12 - 18

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Two Events?

LongRun said:
Sorry for the OT reply, but i know how frustrating this can be for the people who serve our country.

The 22 day law enforcement leave only gives you the greater of your civil service or military pay, so it's not exactly double dipping. I used it to help fill the gap in federal service while I was activated. My payroll office and DFAS service center did not handle the transaction correctly and the result was that I got double paid for the period in 2004. I had to repay my federal debt for the overpayment in 2005, hence REALLY screwing up my taxes for 2005. I feel the biggest benifit for Fedreal Employees using this leave is to help avoiding a gap in service for deployments. I would do it again, now that I have been the guinie pig and my payroll office knows how to administer the leave. The DFAS web site has all the details for administering this program. It's also on the OPM website. BTW I am a National Guard Technician
Click to expand...

I'll re-read my material, but I believe we are speaking about two seperate events. 2003 22 day Double Dip was in fact signed into law; I have the entire document downloaded. 2004 they recanted and said we'll catch the difference only.
I'll re-read much closer today. :)
 
Yep!

I agree Wizard. Why would they invest in our failing infrastructure when their own infrastructure is on the rise? They are buying gold and investing in their own infrastructure.

They may be third world, but that doesn't mean they are stupid and unable to recognize value over fluff.

They are looking to let the good times roll and our part to play in that is diminishing day by day.
 
Rally predicted?

Wizard,

Thanks for the prediction of a strong rally this afternoon - it was certainly refreshing to hear. Looks like you were right - the S fund is pulling the C fund up the hill.

Dennis
 
Congratulations !!!

Congratulations on the acquisition of the family expansion unit. That is such a wonderful name. I know she will cherish you and you will cherish her.

Dell
 
I am concerned the Chinese infrastructure is based more on their ability to receive loans and accumulate debt. I believe they may be buying gold and other precious metals as a failsafe plan for when their economic house of cards collapses.

Wimpy said:
I agree Wizard. Why would they invest in our failing infrastructure when their own infrastructure is on the rise? They are buying gold and investing in their own infrastructure.

They may be third world, but that doesn't mean they are stupid and unable to recognize value over fluff.

They are looking to let the good times roll and our part to play in that is diminishing day by day.
Click to expand...
 
Just 13 more points - that's all

The NYSE Composite only needs 13 more points to establish a new all-time high at 8112.12. We got 45 more minutes - then a long weekend.
 
Birchtree said:
The NYSE Composite only needs 13 more points to establish a new all-time high at 8112.12. We got 45 more minutes - then a long weekend.
Click to expand...

3pm struck and the "smart money" took control. :p :D :cool:

Full up your tanks today. Gas closed up 6.39%. :eek:
 
Have a Good Weekend

It's super friday here and the kids, wife and I are all off next week. It's off to the beach or DC. Everyone have a great weekend. I'll be back in town at the end of the week.

Jeff
 
TREASURY SUSPENDS SALES OF STATE AND LOCAL GOVERNMENT SERIES SECURITIES

FOR IMMEDIATE RELEASE
February 15, 2006
Contact: Mckayla Braden
(202) 504-3534

http://www.publicdebt.treas.gov/com/...ff206final.htm

The Treasury Department announced the suspension of sales of State and Local Government series (SLGS) nonmarketable Treasury securities until further notice, effective as of 3:00 p.m., Eastern Standard Time, Thursday, February 16, 2006. This suspension is necessary because the statutory debt ceiling has not been raised. The suspension will facilitate Treasury's managing debt subject to limit.

The suspension applies to demand deposit and time deposit securities. Subscriptions for SLGS received by the Bureau of the Public Debt prior to 3:00 p.m., EST, February 16, 2006 will be issued on the date requested. New subscriptions for SLGS will not be accepted until the suspension is lifted. The Internal Revenue Service has issued guidance to affected entities in Revenue Procedure 95-47, 1995-47 I.R.B. 12, which is available at www.irs.gov/bonds by selecting the Revenue Procedures link under “Published Guidance.”

------------
Can't pay your bills. That's bullish! :rolleyes:
 
Update: Military Contingency Operation 22 Days Leave

LongRun said:
Sorry for the OT reply, but i know how frustrating this can be for the people who serve our country.

The 22 day law enforcement leave only gives you the greater of your civil service or military pay, so it's not exactly double dipping. I used it to help fill the gap in federal service while I was activated. My payroll office and DFAS service center did not handle the transaction correctly and the result was that I got double paid for the period in 2004. I had to repay my federal debt for the overpayment in 2005, hence REALLY screwing up my taxes for 2005. I feel the biggest benifit for Fedreal Employees using this leave is to help avoiding a gap in service for deployments. I would do it again, now that I have been the guinie pig and my payroll office knows how to administer the leave. The DFAS web site has all the details for administering this program. It's also on the OPM website. BTW I am a National Guard Technician.
Click to expand...
Fivetears said:
I'll re-read my material, but I believe we are speaking about two seperate events. 2003 22 day Double Dip was in fact signed into law; I have the entire document downloaded. 2004 they recanted and said we'll catch the difference only.
I'll re-read much closer today. :)
Click to expand...

Here's what I have documented:
Section 1113 of the National Defense Authorization Act for Fiscal Year 2004, Public Law 108-136, modified 5 USC §6323. Effective November 24, 2003, civilian employees who are members of the Reserves or National Guard and who have been called to active duty in support of a contingency operation as defined in 10 USC §101(a)(13) are entitled to 22 additional days of military leave each calendar year. This entitlement is a broadening of the qualifications for use of military leave under 5 USC §6323(b)(2)(A) which was formerly limited to personnel called to active duty for law enforcement duty. While performing such duty, the individual will receive both military pay and civilian pay for the 22 days. Unlike the 120 hours of military leave for active duty under 5 USC §6323(a), the individual is not authorized to retain both payments for the additional 22 days of military leave. As outlined in 5 USC §5519, military pay received, other than travel, transportation or per diem, must be credited against the pay the individual received from his or her civilian position.

Assuming no law enforcement leave was used prior to November 24, 2003, personnel serving on active duty in support of a contingency operation between November 24, 2003, and December 31, 2003 are entitled to 22 additional days of military leave for calendar year 2003. The entitlement for calendar year 2004, is 22-days of either or a combination of military contingency operations and law enforcement leave. Employees who have not previously requested the prior year (2003) 22-days leave and who maybe due civilian pay for this period will have the civilian pay reflected on their 2004, IRS form W-2.

We continue to look into this.
 
Rod said:
I believe tomorrow (Friday) may bring low volume along with a choppy day b/c of the holiday.

The majority of profit taking may begin next week as new highs are tested.

God Bless:)
Click to expand...

Will the profit taking now commence???
 
No profit taking but a rip snorter on the way

The NYSE Advance/Decline prices index (NYAD) again in new all time high territory, the nod of any dramatic price move should be given to the BULLS.

What is very important to note right now is that the NYSE Advance/Decline volume index (NYUD) has joined the NYAD in making new all time highs on Friday. Really, are you sure. This could easily turn into a free for all rip roaring advance. We need to concentrate on what kind of energy is going to come into the market from this point forward.

Dennis-permabull #1 - I've elevated my level into Murphy's Law.
 
Closing Thread

Sorry to be late!
My ISP had problems in this cold weather. The wireless froze. I guess they had to thaw it out!

Will start a new weekly thread. Rgds! Spaf
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