When the bailout starts

Superfreak said:
whose story keeps changing?
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Sorry, I have not read all 13,000 of your posts. Either way you supported the bill, it won't work, it's started off about as bad as it could. Time will prove how wrong the bail out supporters were.
 
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Onceler said:
I actually had only read Obfuscate's last comment. I know what you mean, though. I'll try to be conscious of that in the future.

I really have no idea what's happening, but I prefer trying to convince myself that something is going to work, and that I won't be hitching across the country to try to get fruit-picking work out in CA or wherever....
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very telling!
 
Obfuscate said:
I'm fine with time proving I'm right.

Also, not just politicians, it was every pro bailout tool on any buisiness show, the paper, the congress, the President, ect ect said we needed it to stablize the markets. Also, the initial bill is 840 Billion and that's just the start and I said inflation adjusted if you know what that means. Not sure you do since you once said rising gas prices are inflation.
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LMAO... you continue to have a problem with "inflation" vs. "inflationary" as well as a problem with rising oil prices vs. rising gas prices. We DO need this bill to stabilize the market you moron. Anyone who understands the market knows that we have to loosen credit, which will stabilize the market. They did not say that just passing the bill would do so (at least not anyone who comprehends what a technical breakdown is)

You are correct though, I did not catch the fact that you stated inflation-adjusted dollars when talking about the losses.
 
Obfuscate said:
Sorry, I have not read all 13,000 of your posts. Either way you supported the bill, it won't work, it's started off about as bad as it could. Time will prove how wrong the bail out supporters were.
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Listen dumbshit... how can it possibly have "started off as bad as it could" if it hasn't even been implemented yet????
 
Superfreak said:
Bullshit. The downturn started long before the idiots in DC began spouting off. The downturn this past week has more to do with the tightening of credit continuing as well as the Dow, the S&P, Nasdaq, Wilshire, Transports ALL breaking major technical support levels.

The only delusional people are the ones that are pretending this bailout sparked a sell off. The stupidity of that comment should be put on the same pedestal as the 1/3 comment.
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Yes, just take a look at stock charts over the last year. It's hard to find any winners. I look at the chart for every NYSE stock at least once a month. They all seem to have the same form over the last year (down, down, down, drop off a cliff).

I made more than a weeks wage daytrading WB today. The only exposure I have to WB is that I'm sitting on 2000 shares @ $5.71 against the October $6 call that I sold for $.45. I didn't expect Citi to cave so quickly on their demands, so I wrote the calls - they were only 10 days out. I might have to unwind rather than expire. Why take $6 when WFC offered $7? Either case - $.74/share on $5.71 = 12.96%.... in 10 days! Buy and Hold sucks.
 
Superfreak said:
Once again displaying your ignorance. The downturn started BEFORE they even mentioned a bailout. The escalation of the downturn occured AFTER the markets broke their technical support levels. Throughout history, when the 50% retracement levels are broken, the vast majority of the time the lows are re-tested.

Same thing on an upward swing. When the 50% rebound level is breached, typically that is a very bullish signal. If it hold above the 50% level for a few days, it generally will retest the highs.

Part of the problem this week is investors are getting their 3rd quarter statements.... and finding they were down 10-30% for the quarter. Needless to say, quite a few have hit the panic button.
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The only thing I sold was GE. I was up 10x on it (since 1984) and couldn't bear the thought of letting it slide under 10x.
 
Superfreak said:
Listen dumbshit... how can it possibly have "started off as bad as it could" if it hasn't even been implemented yet????
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SF, I just want you to know, that I’ve read all 13,000 of your posts, and I can testify to how boring they are, if it will help you?
 
champion.jpg
 
Superfreak said:
LMAO... you continue to have a problem with "inflation" vs. "inflationary" .
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LOL.

Economic Dictonary:

inflationary
adj. causing inflation, causing a sudden and extreme rise in prices

http://www.babylon.com/define/35/Economics-Dictionary.html

#2

in·fla·tion·ar·y /ɪnˈfleɪʃəˌnɛri/ Pronunciation Key - Show Spelled Pronunciation[in-fley-shuh-ner-ee] Pronunciation Key - Show IPA Pronunciation
–adjective of, pertaining to, reflective of, or causing inflation: inflationary prices


http://dictionary.reference.com/browse/inflationary

I checked a couple other econ dictonaries but they don't even list inflationary seperate from inflation..
 
What is spooking the market is the fact that banks all over the world are collapsing, cash assets are depreciating, credit lines are being restricted, Iceland is being declared bankrupt, the Chinese are shifting out of USD, money market funds are collapsing, hedge funds are collapsing, companies are collapsing, politicians are vacillating, baby boomers are panicking and nobody knows how the fuck we stop this thing.

All the politicians and the bankers keep looking back to 1929 and saying 'we must avoid a 1929 like crash' when the fucking thing already happened in August 2007.

What we should be doing now is protecting government and people from collapsing companies and banks.

Nationalise where necessary, let collapse where necessary, fuck the TARP (worst bailout idea ever), sack Paulson now (this fucker got you into this mess in the first place!), force Bush to stand down and put an emergency president in place (he is making this worse), shut down the banks and markets for a week, make sure that all world leaders are in on this with UN support.

Otherwise this is going to be worse by the end of next week.
 
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