131 Responses to “Friday’s Trading”

1. junglegirl says:

   January 23, 2009 at 4:56 pm

   Notice to the Board:

   The sun came out so I will be charging up the solar cell on my Supertron Gravitational Accelerator. Have a great weekend everyone!
2. meb/Sherry says:

   January 23, 2009 at 4:59 pm

   Hi Dave-
   A GREAT JOKE…fits me perfect when it
   comes to trading.
   A friend of mine suggested you set-up
   your Hedge Fund and offical home in
   the Bahamas…then live anywhere in
   the world you want to…
   ….Yellowstone

   …Vancouver

   …?????

   Sherry
3. meb/Sherry says:

   January 23, 2009 at 5:02 pm

   Junglegirl-
   ENJOY!!!!!!!!!
   Sherry
4. dave says:

   January 23, 2009 at 5:06 pm

   Sherry,

   I wanted to sincerely thank you for your interest AND advice yesterday, but i was just up against it time-wise for much of the day.

   “Supertron Gravitational Accelerator” ? Does JG live in Ted Kaczynski’s old neighborhood ?

   Btw, i think you’re a super trader.
5. Yerk says:

   January 23, 2009 at 5:07 pm

   dave LOL

   KDenninger vs Equity Private in the pits of dealbraker today was much more entertaining than not trading the triangle or whatever it is until dawn.
6. meb/Sherry says:

   January 23, 2009 at 5:11 pm

   Dave-
   THANKS!…but you are the super trader.

   Maybe Junglegirl will tell us where she
   lives.

   Sherry
7. dave says:

   January 23, 2009 at 5:31 pm

   Sherry,

   the view from my previous home office. http://www.sonomacoast.com/images/homes/7thheaven/7thheaven_g.jpg

   A bit of a contrast from Matt’s Florida
8. meb/Sherry says:

   January 23, 2009 at 5:32 pm

   Dave-
   Go to qvmgroup.com/invest/….and
   read their take on interest rates.
   They think they are going up and
   most folks today don’t know how
   to cope with rising rates.

   Sherry
9. dblwyo says:

   January 23, 2009 at 5:32 pm

   Dave, et.al. – speaking of Yellowstone you know why we natives never fed the bears ? Well there were so many tourists they fed themselves. Think about it. Hmm..multi-level bear pun unintended but funny.

   Matt – speaking of which just noticed your new headline. 2010 ? At least.

   Sherry – Roubini. Welcome. Let me(us) know if you sort thru Ellis. Takes a couple days. On GE haven’t looked at it yet. Have a couple of inside baseball anecdotes that might speak to the earnings quality someday if you’re interested.
10. meb/Sherry says:

    January 23, 2009 at 5:38 pm

    Dave-
    A GREAT VIEW!!!!! Why did you
    move???

    Sherry
11. dave says:

    January 23, 2009 at 5:40 pm

    Sherry,

    Long story; tell you some day. That’s only the Pacific Ocean til you get to Japan.
12. K says:

    January 23, 2009 at 5:40 pm

    nearly 12hrs away from comp and 150 new posts waiting for me to read in the blogs i follow!! thanks google reader. i can skim them and star those i want to read when i get the time

    by the way george BB’s on ICE didnt show as well today (5mins at least)
    but look at BAC on wednesday using 5 minutes. at around 3pm it broke through 100,3 BB’s and if my account had margin i would have shorted there until it reached the middle bb line then covered.

    it’s funny hehe. one more example is TBV daily. (i know its a penny stock pump and dump but you would know when there’s more risk than reward and dump (upper bb 100,3 ) now that i gave my secret sauce out the Fed will play me by it and screw me over
13. meb/Sherry says:

    January 23, 2009 at 5:41 pm

    Always interested dblwyo.

    Sherry
14. dave says:

    January 23, 2009 at 5:50 pm

    dblwyo,

    This is one of my favorite bear tales (3rd person from one of my fav characters in my life).

    There was this really obnoxious know-it-all woman at a cocktail party in Yellowstone one night. She’s telling a small gathering around her how to safely hike in the wilderness & safely avoid Grizzlies by wearing bells on their shoes.

    A nearby man has had enough of her this particular evening. He just happens to be a prominent surgeon in Wyoming & an expert on bear bites. He saunters over to her group & says to her “Madam, do you know the difference between black bear dung & Grizzly dung ?”

    Offended by the subject, she huffily says, “I do NOT, sir !!”

    The surgeon says “Grizzly dung has LOTS of little bells in it.”
15. meb/Sherry says:

    January 23, 2009 at 5:55 pm

    Dave-
    My take on the dollar is that it will test
    its 2005 high and fail. That might be
    the time to jump into TBT.
    Any thoughts???

    Sherry
16. dave says:

    January 23, 2009 at 6:00 pm

    Sherry,

    Not really, other than LT dollar down; I.T. probably farther up than most people think.

    Gold; dollar; bond relationships can get mixed up from time to time. As you well know in financial mkts 2+2 doesn’t always = 4. That’s what makes it fun & challenging.
17. meb/Sherry says:

    January 23, 2009 at 6:03 pm

    Dave-
    Agree………..have a GREAT weekend!!!!!!

    Sherry
18. dave says:

    January 23, 2009 at 6:09 pm

    Sherry,

    Thank you for the link http://www.qvmgroup.com/invest/

    “Fear of taking profits due to taxation will be less. The past year showed investors that paying taxes on capital gains is far superior to the alternative of creating large tax loss carry-forwards due to capital losses. Riding profits into losses for fear of taxes, ought to become a less frequent event.”

    When i was a broker, i use to tell clients “The mkt can take it away from you a lot faster than the IRS can.”

    Sherry, you, too, have a great weekend.
19. dblwyo says:

    January 23, 2009 at 6:15 pm

    Sherry – will look at GE numbers. Have you looked at Dec08 outlook ? And today’s earnings reviews ? On Investor Relations part of web site.
    Critiqued Immelt et.al. for getting flat-footed last Spring about visible econ downturn and fin consequences. Yet they started proactively and aggressively re-positioning. Have done better than any other fin firm. And started prepping company for downturn. I GUARANTEE that 60% of the worlds executives are still shell-shocked and in denial (real #’s from Booz study released last week). So top-down they’re ahead of pack.

    Good friend is major VAR for GE Healthcare medpractice s/w and they’ve been waiting for major new re-write and release. Says it’s the buggiest thing he’s seen in 30 years. Really bad news for itself and as indictment of execution.

    Conclusion – topdown GE is very well run and Immelt is what Warren called him. Bottom up they do well in traditional stuff in industrial, engines, etc. and have added a major services component plus vertical financing. In areas like Health where they’re not grounded well and especially in s/w which is still black magic to most skills and execution woefully short. It’s a bear problem – don’t need to run faster than the bear just you.

    Make sense ?
20. dblwyo says:

    January 23, 2009 at 6:18 pm

    Hmmmm….addendum translation: working to defend earnings and position for futures. Doing it far better than most. Will get hurt as downturn proceeds down my projected path (also Nouriel’s) – perhaps worse than they anticipate. Will come out of it very strong. Certain sectors need better management and skills but super-huge corporation unlikely to develop. Bottomline – as well positioned as anyone and better than 95%+. Good value opportunity after markets bottom.
21. narrowminds says:

    January 23, 2009 at 6:21 pm

    I subscribe to Neowave trading, so as part of the service I get the trend, along with buy and stops on spy. So far I think he is right on the money, its just that you cannot time it exactly… and me being foolish at times end up in bad trades by either waiting too long to act, or exiting early as the market whiplashes.. So based on the current reports we are extending into an f-wave, to a g-point and shorting right now is cautious as we wait for substantial weakness.The target for s&p is 500.

    Personally I am a bit unsure of the government variable, not that I think anything they do will have any impact on 2009 gdp, but it can have an impact on potentially getting the zombie banks to life – how: by giving them free public money and not letting the common stock dilute too much…. a sure recipe for a bull run… maybe the gov is thinking if they let this asset class collapse things will get worse… phycological perhaps as financials are only 10% of the market now…
22. Yerk says:

    January 23, 2009 at 6:51 pm

    narrowminds “extending … to a g-point” made my day (better: night)
23. K says:

    January 23, 2009 at 7:06 pm

    this is a nice game for all to play
    http://chartgame.com/
24. narrowminds says:

    January 23, 2009 at 7:10 pm

    lol… thats a good catch… i can’t seem to stop laughing here… have a GREAAAAT NIGHT
25. K says:

    January 23, 2009 at 7:28 pm

    deflation hits grocery store.

    http://www.getrichslick.com/deflation-hits-grocery-store/971/
26. K says:

    January 23, 2009 at 7:39 pm

    i want some tarp
    http://www.calculatedriskblog.com/2009/01/i-want-some-tarp.html
27. K says:

    January 23, 2009 at 7:45 pm

    spam time
    http://paul.kedrosky.com/archives/2009/01/23/dubai_hits_econ.html
28. K says:

    January 23, 2009 at 7:57 pm

    am done going through over 200 posts. (yes just 3 were worthy )
29. Randall says:

    January 23, 2009 at 10:05 pm

    UK next ICEland?

    http://www.thetrumpet.com/index.php?q=5872.4237.0.0

    Quote:

    The money involved is astounding. Britain’s four big banks have leveraged themselves to the hilt with borrowed money. British banks have liabilities so vast they completely eclipse the entire UK economy.
30. K says:

    January 23, 2009 at 10:10 pm

    2009 Bank Failure #3: 1st Centennial Bank, Redlands, CA

    let’s get this party started!!!
31. narrowminds says:

    January 24, 2009 at 9:33 am

    Dear K, I do feel that Shorting the UK financial system is safe call, do you know of the best way to short just the UK financial sector from the US? There is UK etf, but I have not been able to find one focused on financials like the skf here.