mojo's Account Talk

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DCguy said:
I dont know for sure if this is the real rally I was waiting for, but I think rising of oil price and the recent slowdown of %drop meant some rally in the market.
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Don't look too forward my friends, we've been here before and it scares
the BaJesus out of me that the media is speaking freely, Bloomberg and
CNBC, about a potential bottom being seen. That could be true, but I'm
leaning towards believing this is a M2M rally and a sell-off come Thursday
may come to fuition. (JMHO). One last thing, I've been more wrong then
right in February/March. :confused:
 
squalebear said:
Don't look too forward my friends, we've been here before and it scares
the BaJesus out of me that the media is speaking freely, Bloomberg and
CNBC, about a potential bottom being seen. That could be true, but I'm
leaning towards believing this is a M2M rally and a sell-off come Thursday
may come to fuition. (JMHO). One last thing, I've been more wrong then
right in February/March. :confused:
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Well I don't believe the hype. It will be a nice opportunity for the big players to take some more money from those that get greedy and linger to long imo.

Looks to be a nice rally setup but for how long?
 
mojo said:
Well I don't believe the hype. It will be a nice opportunity for the big players to take some more money from those that get greedy and linger to long imo.

Looks to be a nice rally setup but for how long?
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Thats the Billion Dollar question. Greed kills. Momentum can leave us all
smiling tomorrow, after that, I have a huge concern too ! ;)
 
mojo said:
Well I don't believe the hype. It will be a nice opportunity for the big players to take some more money from those that get greedy and linger to long imo.

Looks to be a nice rally setup but for how long?
Click to expand...


Yep that's what the big money movers try to do buy low get everyone to jump in and run it up then they pull the rug out.;)
 
mojo said:
SEC won't seek to suspend mark to market

WASHINGTON (Reuters) - The U.S. Securities and Exchange Commission is not planning to suspend the controversial mark-to-market accounting rule that has forced banks to report billions of dollars in asset write-downs, a source familiar with the matter told Reuters on Tuesday.

http://www.reuters.com/article/ousiv/idUSTRE5294BJ20090310
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Grrrrrrrrrr ! Time for the Crime Guys to get a life and shut the heck up ! :mad:
 
CITI- It is also illegal to “pre announce” earnings in this manner

From Bill Murphy’s site tonight:
This Citgroup “release” is the biggest farce since Bear and Lehman said they didn’t need any new capital. It is also illegal to “pre announce” earnings in this manner and has set up Citigroup to be pummeled with lawsuits if the tide turns for them in March. Did you notice that the news said the earnings excluded one-time charges?
“Pandit declined to say how large credit losses and other one-time items have been that would at least partially offset profit.”
The latest housing decline has pummeled the value of Mortgage Backed Securities…are they not counting these? How many Credit Default Swaps did they have riding on GM? GM has already stated that they will run out of cash in March and it has already been agreed that a bankruptcy would be the likely outcome. For years GM has been the poster child for CDS bets with estimates running in the multi $TRILLIONS of bets placed on GM. Counterparty failures are already stressing the derivatives market but a GM failure will surely set off the Weapon Of Mass Financial Destruction blowing the big banks out of the water.
So why did Citigroup do it?
That’s easy….next week starts the Stock Black-out Period for most of the financial institutions before their 1st quarter earnings release. During the black-out period company employees are not allowed to trade (or dump) their own stock until after their earnings release. With the banking sector about to implode any day this will be the insiders last gasp at cashing out.
Yes. This is a complete fraud but the SEC is in on the game.
 
mojo said:
Good news is I took a large TSP loan out and bought gold at 840. Up to 981 in 1 month. Got some silver at 12 too.
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Mojo,
When I saw the price of GOLD last night - it triggered this post. :(


I hope you sold when it went over $1,000


It's a wonderful thing when it keeps flying higher and higher and looks like no end in sight as long as the BEAR CONTINUES - but it's very scarey when all of a sudden it's losing $25 a day and close to where you bought it.

I feel for ya and hope things are working out.
 
Steadygain said:
Mojo,
When I saw the price of GOLD last night - it triggered this post. :(


I hope you sold when it went over $1,000


It's a wonderful thing when it keeps flying higher and higher and looks like no end in sight as long as the BEAR CONTINUES - but it's very scarey when all of a sudden it's losing $25 a day and close to where you bought it.

I feel for ya and hope things are working out.
Click to expand...

I will continue to buy more gold and silver on the dips. I can see it at some point dropping into the 700s for a very short period. Will see $1500 this year. Silver is looking very good too imo.
 
I was expecting the market will end the day in red or nearly flat. If that happens, I think we will see a big drop tomorrow.
 
My desire is that we close up +200 points or better. More than 21 members shifted back to the lily pad today so let them make their last gains for March.
 
03-16-09-66.gif
 
mojo said:
I will continue to buy more gold and silver on the dips. I can see it at some point dropping into the 700s for a very short period. Will see $1500 this year. Silver is looking very good too imo.
Click to expand...

That would be GREAT !!!

Thanks for getting back with me - I worry bout you guys way too much
 
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