WorkFE's Account Talk

[WorkFE]

Bonus rage closes in on AIG

No one actually believes the government is going to punish their buddies do they?


Mexico to raise tariffs on 90 U.S. exports

This is a retalliation, I guess we don't do enough welfare projects in Mexico?

Prosecutors want Madoff's assets

I wonder if you can bet the Over/Under on asset recovery in Vegas

 

[KevinD]

Bonus rage closes in on AIG
http://money.cnn.com/2009/03/16/news/companies/AIG_update/index.htm

No one actually believes the government is going to punish their buddies do they?

Mexico to raise tariffs on 90 U.S. exports
http://money.cnn.com/2009/03/16/news/international/mexico_tariffs/index.htm

This is a retalliation, I guess we don't do enough welfare projects in Mexico?

Prosecutors want Madoff's assets
http://cnnmoney.mobi/money/latest_n...2;jsessionid=18F219AD6FC0E526885E2FCFD70C9D52

I wonder if you can bet the Over/Under on asset recovery in Vegas

.

 

[WorkFE]

Headlines suck these days don't they Kevin

 

[WorkFE]

Besides the fact that we did not start the day as high on futures. Today eerily has the feel of yesterday.
Probably get alittle run up until 3 and then a sell off.

I am staying pat today.

 

[WorkFE]

VIX and VXO both down over 5%
I like that

 

[Birchtree]

Let me know when the VIX breaks below 30. The Dow should be over 8,000 by then.

 

[WorkFE]

Yesterday one was up and one was down, thus a flat day.
Today both are down and happiness raines.
I know for a fact you don't need me to tell you when it is at 30. I am positive you keep a keen eye on it.

 

[Birchtree]

From my perspective the VIX has already broken the back of this bear market. A VIX at 89 was a great time to throw some change down the well. The SPX distance back to 1551 would seem to be far off - but there is so much liquidity available. Most hedge funds and mutual funds are light on their positions and you have to be in to win or they will loose business. We could easily scamper post haste back to our previous highs in a short time frame. Stock prices are not reflecting the fundamentals of companies earning power and most of this damage was caused by emotionally panicked 10,000 hedge funds - that's not a reason to abandon equity positions. I've stayed long and I'm staying long.

 

[WorkFE]

Under - 5% finally. Man that feels better.

 

[WorkFE]

Seen alot of players locking in their gains today. Good for you, you've earned it.
It sure is easier to lose it than gain it.
VIX and VXO both up today (>1%). Curious as to how it will react to the Federal Reserve policy statement at 2:15. We shall see.
Stood firm today at 49G, 17C, 17S and 17I.
Possibly some decent up movement left in the tank. All bets are off if the Gov't cuts ties with AIG. I doubt that will happen though, to much money at stake.

Good luck everybody.

 

[WorkFE]

Alot of reports do out tomorrow, any one of which could derail this mystery train.

0830 am- Jobless claims
1000 am- DJ-BTMU Business Barometer
1000 am- Phila. Fed MFG index
1000 am- Conference Board Leading ECON indicator for Feb.
1030 am- EIA Natl Gas Inventories in Billion cubic feet

After trading (Could affect Fri.)
1630- FED Discount Window Borrowings
1630- Money Supply

On the other hand nothing on the Radar for friday. (Unless our leadership has something they want to inject) If we can manage a mostly flat day tomorrow friday could be bonus day before the weekend

 

[mojo]

Ben already derailed the train today. The dollar is now doomed. You just lost 3% of your buying power per dollar today.

http://finance.yahoo.com/q?d=t&s=UUP

It only looks like gold went up because the dollar just fell off a cliff.

http://www.kitco.com/charts/livegold.html

Of course jobless claims won't help.

Might take awhile to sink in but I don't see this rally continuing much longer. Maybe until Monday imo.

 

[Birchtree]

The dollar was due for a pleasant correction - you have lost nothing unless you travel outside the country. The treasury bond will be next to take serious heat.

 

[mojo]

The dollar was due for a pleasant correction - you have lost nothing unless you travel outside the country. The treasury bond will be next to take serious heat.

The Fed buying 300 billion in treasuries (with more sure to come) that no one now wants will most likely cause more than a pleasant correction imo.

So it doesn't matter how much they print Birch buying power just stays the same? I don't think so.

Wait until the Chinese decide to start unloading theirs.

 

[WorkFE]

Under -3.5%, I can smell positive territory.
Just a couple more days like that and I'm there. Of course if I had not been slowly reducing my risk on the way up I'd already be there. At -12% it was a neccessary evil.

Futures are not looking good and overseas is mixed.
VIX and VXO down together 2 days in a row, neither in the 30ish range yet.

CPI rose more than expected.

Lots of good info on the MB today, thanks.
Happy hunting tomorrow

 

[WorkFE]

Mixed news on the Jobless Claims. Next batch of reports not due out until the markets open.

Citigroup seeks reverse stock split: I am glad I don't own any CITI, that would scare the crap out of me. I don't mind losing value as long as I have the shares and I'm optimistic that the investment will rebound. (Oh yeah, I do own CITI, as a taxpayer. I smell scam)

 

[WorkFE]

805- Here we come and don't be stubborn about it, just let us pass on by. (PLEASE)

 

[WorkFE]

VIX and VXO are up sharply. grrrrr.
Remember the Bull loves to run alone. This thing could turn on a dime.
The way the market has been acting it is way to early to determine our landing spot. I still believe were headed to 805 COB friday. But then again we could be at 666.

 

[WorkFE]

Veteran senator Dodd in the eye of AIG bonus storm

Screw all these @$$ holes. Any politician who blames another politician for this fiasco at this point in time is admitting, in my opinion, that they signed a document without reading it. It is their F$%#ing job to read this crap before they vote on it. If you don't feel like reading 7000 pages of horse sheet then atleast abstain.
Personnally I think they should pay them the bonus in AIG stock and they are not fully vested for 5 years. Good luck with that one. The bottom line it is a contract. They are not the first people we've given welfare checks to. We do it everyday to people who are unwilling but able to work. At least, good or bad, these individuals met the contract obligation.

Done venting, wanted to get that off my chest before TGIF. So are we setting up tomorrow for a continuation of today or was this just a studder in the current uptrend?

 

[nasa1974]

Veteran senator Dodd in the eye of AIG bonus storm

Screw all these @$$ holes. Any politician who blames another politician for this fiasco at this point in time is admitting, in my opinion, that they signed a document without reading it. It is their F$%#ing job to read this crap before they vote on it. If you don't feel like reading 7000 pages of horse sheet then atleast abstain.
Personnally I think they should pay them the bonus in AIG stock and they are not fully vested for 5 years. Good luck with that one. The bottom line it is a contract. They are not the first people we've given welfare checks to. We do it everyday to people who are unwilling but able to work. At least, good or bad, these individuals met the contract obligation.

Done venting, wanted to get that off my chest before TGIF. So are we setting up tomorrow for a continuation of today or was this just a studder in the current uptrend?

One question I have is what does the contract say??? Does it say we will give you a million dollars or a percentage of the profits or an inverse percentage on how bad the company does. Maybe it says if the government bails us out you will get your money. You guys deserve a bonus for running this company into the ground. Congratulations!!