Show-me
Well-known member
Sorry for the late response. I only was referencing the earnings call and the fact that Democrats are not firearm friendly.
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Show-me Account Talk
- Thread starter Show-me
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Sorry for the late response. I only was referencing the earnings call and the fact that Democrats are not firearm friendly.
hessian
Member
Could it be True? The FED's moving from enabling Crackheads, to -
Fed-Heads Ready To Crack Heads
June 9th, 2008
Today’s fledgling stock-market rally was strangled in its crib this afternoon by tough talk from Dallas Federal Reserve Bank President Richard Fisher on CNBC. Fisher said that the Fed would be vigilant against inflation (no more rate cuts), would demand an accounting from the banks too which it has made loans, and said that the Fed would “work out” banking problems.
(In case you don’t know, the phrase “work out” has a special meaning amongst bankers. Suppose you are late on your loan payments. Your banker might decide to “work out” the problem by coming to your house, turning you upside down, and shaking you until the money came out of your pockets. “Work outs” are reserved for the most dirty, rotten, low-down deadbeats.)
So, the Fed has gone from “bail out” to “work out” when it comes to banks, and it is about time. Because of the pathetic state of the banking system, the Fed’s rate cuts are doing nothing to stimulate the economy. (See my previous post, Bernanke Shoots Blanks, for details.)
This is what the Fed must do as quickly as possible:
http://www.trivisonno.com/
...link & website, courtesy of Robo's Market Talk.
[Major applause -mine, finally!! And sentiment, IMO, very much a welcome breath of fresh air!!!]
Fed-Heads Ready To Crack Heads
June 9th, 2008
Today’s fledgling stock-market rally was strangled in its crib this afternoon by tough talk from Dallas Federal Reserve Bank President Richard Fisher on CNBC. Fisher said that the Fed would be vigilant against inflation (no more rate cuts), would demand an accounting from the banks too which it has made loans, and said that the Fed would “work out” banking problems.
(In case you don’t know, the phrase “work out” has a special meaning amongst bankers. Suppose you are late on your loan payments. Your banker might decide to “work out” the problem by coming to your house, turning you upside down, and shaking you until the money came out of your pockets. “Work outs” are reserved for the most dirty, rotten, low-down deadbeats.)
So, the Fed has gone from “bail out” to “work out” when it comes to banks, and it is about time. Because of the pathetic state of the banking system, the Fed’s rate cuts are doing nothing to stimulate the economy. (See my previous post, Bernanke Shoots Blanks, for details.)
This is what the Fed must do as quickly as possible:
- Go down the list of banks that have borrowed the most money from the Fed and get an accounting of what has become of the loans.
- If nothing good is happening, the Fed should cut-off the bank and use whatever leverage it can to force it to merge with a stronger bank, assuming such a thing can be found.
- Any and all “opaqueness” (a banking term for “lies”) in the accounting must be eradicated.
- Real estate holdings must be liquidated at any price.
http://www.trivisonno.com/
...link & website, courtesy of Robo's Market Talk.
[Major applause -mine, finally!! And sentiment, IMO, very much a welcome breath of fresh air!!!]
Oldcoin
Member
SWHC is issuing 6.5 million shares at $5.50/share to retire debt. Since they made the announcement the shorts have been having their way, driving the price down. I like to trade in and out of the stock, but I’ve gotten hammered this time around….so goes trading
It will be interesting to see how they report this week. Some speculate that it could be good since they announced the additional shares before earnings to be issued after earnings. We’ll have to see.
robo
Well-known member
Credit crisis could last another four years, predicts BlackRock's Doll
Investment chief says a whole lot of deleveraging left to do; 'more write-offs to come'
June 9, 2008
(Reuters)—Fund manager BlackRock expects the global credit crisis to last another two to four years as a weakening U.S. economy triggers more write-downs by banks, its chief investment officer for equities said on Monday.
The prediction was one of the starkest so far by a global investor about the length of a crisis that began last year with the collapse of the U.S. subprime mortgage market, roiling financial markets.
The turmoil has led the $1.4 trillion money manager to be underweight on financial shares.
“The credit crisis will be with us for a long time,” said Bob Doll, also vice chairman of BlackRock.
“The deleveraging of the financial system, which is the outgrowth of the credit crunch, will likely last a couple of more years—two, three, four.”
But BlackRock has also benefited from the crisis, acting as a top adviser to troubled banks, who have been trying to restructure distressed assets.
http://www.financialweek.com/apps/pbcs.dll/article?AID=/20080609/REG/244320781/1043
http://online.wsj.com/article/SB121300896698257001.html
http://www.financialweek.com/apps/pbcs.dll/article?AID=/20080609/REG/703509186/1036
luv2read
Active member
Black Rock is managing the feds (our) $30B BSC JP bailout. I'd say they benefitted.
robo
Well-known member
Show-me,
Thought I would share this with you since you have have a Scottrade account.
Looks like first offense for a freeride will just be a warning. I'll have to be careful going forward, but I did it for the money. I'll let you know if this is the end of it if I'm a good boy.
Take care and it sucks getting stopped out when you call the market direction correctly. Has happened to me plenty. The crooks run it up and down shaking money out of the pockets of retail investors.
The letter! I commented the freeride in my wife's account.
Date: 6/11/2008
Re: Account XXXXXXXX
Dear MRS. Robo ROTH IRA,
We are writing you in regards to your cash account and wish to inform you of changes in your account that will affect when sales proceeds are available for additional purchases. Please read this letter carefully. How you handle your account going forward will determine how often and when you will be able to enter purchase orders.
Interpretations of Federal Reserve Regulation T, which govern how trades are paid for, state funds from liquidations in cash accounts will not be available to pay for purchases until the settlement date of the sell. Unsettled funds can be used to purchase securities as long as the new purchase is not sold prior to settlement date of the funding sale. If you hold your new purchase until settlement date of the funding sale, this is not considered to be a freeride since the purchase has been paid for with the original unsettled proceeds. If you sell your new purchase prior to the settlement date of the funding sale, your account will be noted with a freeride.
This notice has been sent to you because a freeride has occurred in your account.
We apologize for any inconvenience this may cause, however, it's a Federal Reserve Requirement, which governs your account and requires us to make this change.
You have several options available to you at this time. You can simply reduce the number of trades you do and adhere to the three-business day settlement date. You can provide additional cash to the account to support your desired trading activity. Finally, you can sign a margin agreement which will allow you to trade without the 3 business day hold on sales proceeds. However, a consideration with signing a margin agreement would be the requirement by industry regulations, that if you do 4 roundtrips (a buy and a sell in the same security) in a five day period you will be considered a pattern day trader and will be required to maintain $25,000 minimum equity in the account. There could also be interest charges that would apply on any debit balances past settlement date.
Please note that margin trading is not allowed for Retirement and Custodial accounts. Internal Revenue Service rules limits the amount of contributions for Retirement accounts, which may restrict the amount of cash you can deposit into your account.
We ask that you please make an immediate adjustment to your trading patterns since we may be required to place future restrictions on your account.
Thank you in advance for your cooperation. For additional information, you can refer to the Message Center and Frequently Asked Questions found on our website. Please contact your local branch office at xxx-xxx-xxxx if you have questions regarding this notice.
Sincerely,
Scottrade, Inc.
hessian
Member
Robo,
I'm holding back, because I really feel for the dilemma you posted!
Somehow, that sounds awefully familiar -where'd we hear something like this before?
Really disturbing, and I'd also be interested to hear outcome!
Also Show-me,
Have you yet looked today at the Dow Trans. Avg chart?? - Holy Cow Batman!
http://stockcharts.com/h-sc/ui?s=$TRAN&p=D&yr=1&mn=0&dy=0&id=p41451426749
Can't wait to see what the Analyst videos say about this! :suspicious:
VR
robo
Well-known member
Hessian,
It's my own fault. I know the rules, but I had a large position on and needed to sell it. I made a small profit and saved the money and got the letter. If I had not sold I would now have over a 10% loss in UYG in my last trade. Since I sold I ended up with a small gain. I don't recommend trading UYG and SKF, but I like the action.
The rules are clear and I need to follow them. It sure was nice to have unlimited moves in TSP. I miss the old days!!!
I also went 50% C Fund today for a shot at a Bear Market rally next week back up to the 1380's. I could be wrong, but we shall see!
Henry is still in cash, and this move is a short-term play. Bear Market rules still apply and I follow Henry's advice very close in most accounts.
Take Care!
It's my own fault. I know the rules, but I had a large position on and needed to sell it. I made a small profit and saved the money and got the letter. If I had not sold I would now have over a 10% loss in UYG in my last trade. Since I sold I ended up with a small gain. I don't recommend trading UYG and SKF, but I like the action.
The rules are clear and I need to follow them. It sure was nice to have unlimited moves in TSP. I miss the old days!!!
I also went 50% C Fund today for a shot at a Bear Market rally next week back up to the 1380's. I could be wrong, but we shall see!
Henry is still in cash, and this move is a short-term play. Bear Market rules still apply and I follow Henry's advice very close in most accounts.
Take Care!
Show-me
Well-known member
Hey Boys and Girls,
The sandbagging has begun. We may break the 1993 levee record if it don't stop freak'n raining in Iowa. 32.1' was the record and 30 is the forecast which does not include the rain up north right now.
Not to worry, I live on the high ground but the drive to work will be a @#%$# if the levee breaks. And, they just raised the levee last fall but in order to do that they cut down half of it to widen it. Now it is unstable and leaking. Very bad.
http://www.crh.noaa.gov/ahps2/hydrograph.php?wfo=lsx&gage=uini2&view=1,1,1,1,1,1,1,1
The sandbagging has begun. We may break the 1993 levee record if it don't stop freak'n raining in Iowa. 32.1' was the record and 30 is the forecast which does not include the rain up north right now.
Not to worry, I live on the high ground but the drive to work will be a @#%$# if the levee breaks. And, they just raised the levee last fall but in order to do that they cut down half of it to widen it. Now it is unstable and leaking. Very bad.
http://www.crh.noaa.gov/ahps2/hydrograph.php?wfo=lsx&gage=uini2&view=1,1,1,1,1,1,1,1
robo
Well-known member
Show-me,
No problem on the free-ride. I just got a call from my local scottrade office. They wanted to confirm I received my letter. All is good for now, but it's the second time around when things happen. Saved the money, and now I must be careful. I'm telling you this in case you find yourself in a similar situation. It's just a warning the first time... So save the money!
Take Care and good trading.
From Scottrade web site:
What will happen to my account if I enact a transaction that causes a free-ride?
Clients will be notified upon violation of free-riding. After two violations, account will be restricted for 90 days. After 90 days, if violation occurs again, account may be restricted permanently.
Oh, take care with the flooding. I lived in Quincy Illinois for years and saw a bad one. ( It's right on the Mighty Mississippi ) Again, take care....
Gumby
Active member
Showme,
I was on the Mississippi the night the levee was breached in Quincy Il on July 16, 1993 Friday evening(I believe that was the date). The stage was near 32 feet on a marked wooden lathe by the East bound bridge when I got in the boat. We were patching the plastic sheets with duct tape where the tears were at. The levee district had pushed up sand from the levee on the inside with bulldozers. Then sand bags and more sand was placed on the plastic. At one point abut an hour before the levee breached we got out of the boat where a point in the levee was leaking through. I walked down to the inside part of the levee floddplain and looked up. The water levee was within 2 inches of the top of the levee which was at least 20 feet above the ground level. Pretty impressive. Later when the water tore through the Ayerco station and the fuel tanks exploded when they hit the power line, I was standing on the levee next to the bridge. We could feel the heat but the sound of the explosion was muffled by the roar of the water...it looked like a tidal wave going through the breach and into the gas station. Water was going through the East side and the busted windows on the West about 10 feet deep. The barges came through the hole in the levee and hit the railroad grade near Hwy 24 and stopped. The mosquitoes were so bad that one couldn't open your mouth to breath without eating them. We all sprayed bug spray continually on each other. Me and 4 other guys were stranded and had to spend the night in Quincy, Il. The next day the president of John Wood college flew 3 of us across the river to Hannibal.
My wife got my car which was parked 3 miles from the river Friday night at the Taylor airport and moved it to high ground. Water was flowing West through the culverts on Hwy 61 on Saturday afternoon and then overtopped and closed the highway late that evening.
Quite an experience.....I hope does not get repeated this flood. The river stage was impressive at the very top of the levees. It looks like an impossible level for the water to reach and hopefully the stage willl stay under 30 feet at Quincy. I believe I heard the 1993 flood was supposed to have had a 500 year frequency.:nuts:
I was on the Mississippi the night the levee was breached in Quincy Il on July 16, 1993 Friday evening(I believe that was the date). The stage was near 32 feet on a marked wooden lathe by the East bound bridge when I got in the boat. We were patching the plastic sheets with duct tape where the tears were at. The levee district had pushed up sand from the levee on the inside with bulldozers. Then sand bags and more sand was placed on the plastic. At one point abut an hour before the levee breached we got out of the boat where a point in the levee was leaking through. I walked down to the inside part of the levee floddplain and looked up. The water levee was within 2 inches of the top of the levee which was at least 20 feet above the ground level. Pretty impressive. Later when the water tore through the Ayerco station and the fuel tanks exploded when they hit the power line, I was standing on the levee next to the bridge. We could feel the heat but the sound of the explosion was muffled by the roar of the water...it looked like a tidal wave going through the breach and into the gas station. Water was going through the East side and the busted windows on the West about 10 feet deep. The barges came through the hole in the levee and hit the railroad grade near Hwy 24 and stopped. The mosquitoes were so bad that one couldn't open your mouth to breath without eating them. We all sprayed bug spray continually on each other. Me and 4 other guys were stranded and had to spend the night in Quincy, Il. The next day the president of John Wood college flew 3 of us across the river to Hannibal.
My wife got my car which was parked 3 miles from the river Friday night at the Taylor airport and moved it to high ground. Water was flowing West through the culverts on Hwy 61 on Saturday afternoon and then overtopped and closed the highway late that evening.
Quite an experience.....I hope does not get repeated this flood. The river stage was impressive at the very top of the levees. It looks like an impossible level for the water to reach and hopefully the stage willl stay under 30 feet at Quincy. I believe I heard the 1993 flood was supposed to have had a 500 year frequency.:nuts:
Show-me
Well-known member
Small world!
Quincy is my big city I drive through every day. Report is that flood stage is set at 30' on Wednesday not counting additional rain. Quincy memorial bridge will be close tomorrow and the Bay View bridge will take two way traffic. Water is seeping under the levees right now. My oldest spent the day sandbagging in Canton. He is napping now. Good kid, got a call from a teach about how good he did. No goofing off all work.
The 1993 flood my parents planted my American flag from the first Gulf War in the levee between the two bridges. Someone stole it. I was home from Denver the week of the 4th of July, the week after the levee broke. I drive by that Ayerco twice a day.
I let ya know when I get worried. Defiantly not yet.
How long am I going to take a beating in the F fund?:laugh::nuts:
Quincy is my big city I drive through every day. Report is that flood stage is set at 30' on Wednesday not counting additional rain. Quincy memorial bridge will be close tomorrow and the Bay View bridge will take two way traffic. Water is seeping under the levees right now. My oldest spent the day sandbagging in Canton. He is napping now. Good kid, got a call from a teach about how good he did. No goofing off all work.
The 1993 flood my parents planted my American flag from the first Gulf War in the levee between the two bridges. Someone stole it. I was home from Denver the week of the 4th of July, the week after the levee broke. I drive by that Ayerco twice a day.
I let ya know when I get worried. Defiantly not yet.
How long am I going to take a beating in the F fund?:laugh::nuts:
robo
Well-known member
Small world!
Quincy is my big city I drive through every day. Report is that flood stage is set at 30' on Wednesday not counting additional rain. Quincy memorial bridge will be close tomorrow and the Bay View bridge will take two way traffic. Water is seeping under the levees right now. My oldest spent the day sandbagging in Canton. He is napping now. Good kid, got a call from a teach about how good he did. No goofing off all work.
The 1993 flood my parents planted my American flag from the first Gulf War in the levee between the two bridges. Someone stole it. I was home from Denver the week of the 4th of July, the week after the levee broke. I drive by that Ayerco twice a day.
I let ya know when I get worried. Defiantly not yet.
How long am I going to take a beating in the F fund?:laugh::nuts:
Still have some family in Quincy. I graduated from Quincy Senior High School in 1971. I had a job pumping gas in West Quincy when it was just 30 cents a gallon. Ahh, the good old days!
Good luck in the F Fund and take care now and stay dry!
Take care now and stay dry!
- Status
