Zachary Karafool
I was wondering how Zachary Karabell could get published in the Wall Street Journal and Newsweek.
After all, what kind of fool would write something like this, as he did in Newsweek:
“This is the new world of global business, one in which the U.S. becomes simply a market among markets, and not even the most interesting one. IBM is one of the multinationals that propelled America to the apex of its power, and it is now emblematic of the process of creative destruction pushing America to a new, less dominant, and less comfortable position.”
Not a patriotic American, that’s for sure.
Then I read Karafool’s Wikipedia page and learned that he is a member of the Council on Foreign Relations.
Now it all makes sense.
Karafool is a mouthpiece for our overlords. And he is delivering their message:
“Listen up America: your jobs are being moved to Asia and they ain’t coming back. You are being demoted. You should cheer IBM’s fabulous profits, but they will not hire you, and you will not be able to afford to buy their stock and collect dividends because you will be working at Wallmart for minimum wage selling goods made in China. This is our grand plan for America. Get used to it.”
And you know what? America is getting used to it. The USA is in the process of abdicating its position of global super power.
Matt,
Your area must be hit harder or differently than mine as you pointed out in “No Signs of Life”.
I still have to make an appointment with my barber, restaurants are giving out pagers, laid-off teachers are being hired back, movie lines are just that, house prices are not dropping and it’s hard to find anyone available to cut a lawn.
Then again, our fire taxes are doubling(!), property taxes went up around 33% and the Governor has proposed raising the already highest-around state income taxe. Hey, the bloated government, as characterized in K’s link, has to be fed and cared for, regardless.
Did I mention that traffic in this area is bumper-to-bumper all weekend? Is Christmas here already? What the hey…
George when the pills wear off they will cry again just be patient.
hey i’ve spent more $ the past few months and that’s what made me afraid that i might have caused this rally. I got the new contract today which would mean more $ for tmobile.
I will stop spending for a while./
K,
I need some of those pills. It’s confusing to hear all of the bad stuff and never see it.
well looks like more people are noticing the divergence i saw
http://chart.ly/d9xgte
yay pill is really wearing off
Millions face shrinking Social Security payments (AP)
melt-up dax briefly pushed through 5505 and is now slowly rolling over – daxwise 5800 as the next big stop area is now in play which miraculously is almost exactly in line with the top of the box of bulls.
Remember me? Wall Street repackages debt for sale (AP)
yay let’s eat more of the Sh*t. and on the hourly the futures are weak.
if 1027 doesnt hold I see a 1018-1020 as a strong support then if we bounce or if we crash is all up to George.
http://www.ritholtz.com/blog/2009/08/existing-home-sales-not-as-advertised/
pretty range-bound market. maybe a retest of the futures’ highs during regular trading in the cards. K’s support held so far.
Matt:
IBM had a series of choices – as did our Congress. Don’t stress too much; you’ll want to be around for it all to play out. Meanwhile, folks must be really confused right now about the trajectory of this recovery.
Mitch, you mean the divergence in the trajectories of the stock market, the economy and their personal experience? At school people couldn’t help but notice the number of fathers in casual dress picking up the kids is steadily increasing.
Testing blackberry. And mitch what is there to think about? Were heading for the moon
There isn’t much resistance above SPY right now that I can see.
The next stop is the gap around $110 then $130. It’s like an open door to go higher.
BBT just nudged through its resistance and is trying to hold. If it can make it to the $29 area it has a chance to continue to the $30-$36 area.
UYG has the $6 area to overcome which is +40 more cents, then it is clear sailing to the $10-$11 area.
I’ve believed that some of these need to go higher before there is a significant correction: For example, UYG was at $62 last October and dropped below $2.
Since the name of the game is swings, there will need to be more upswing before another downswing. I mean, if something is already on the floor it can’t drop any farther.
K,
I got a iPhone over the weekend testing it. I may end up with PocketPC. There’s so many things the iPhone won’t do because of lack of development. That is of course, unless you’re an AAPL person, then it fits in well.
Yerk:
Exactly. I mentioned to K that a car only needs brakes if it needs to stop. LOL. You got that brake over there?
K……i would not be betting on a crash …this market is getting STRONGER as we go forward….the UPWARD ACCELERATION is going to ACCELERATE…there may only be quick pullbacks to buy….min target 10500 DOW…..1155 spx……..then HIGHER after a correction http://evilspeculator.com/wp-content/uploads/2009/08/2009-08-23_spx.png
Mitch, nope we have Porsche…
phil 1155 would exactly be one more of Matt’s boxes. Let’s do it one at a time…
Phil,
it’s go time 40 secs here we go
I just want to see if my dream plays out like FAZ did a few months back.
btw blackberry is annoying if am trying to type a message for this blog but reading will be no prob
K….dreaming is fine…..just try to play where the odds are in your favor….you are fighting the trend by shorting……..but thats what makes the market go up…people too anxious to short and forced to cover…there will be plenty of time to short when the tide turns from much higher levels…… regards……phil
phil Says:
August 19th, 2009 at 1:23 pm
mitch…..i want to buy a hard break in bonds
>>>>>>>>>>>>i am going to buy partial position in coupons here
phil:
The 2yr T note looks fine here as well right? Not a hint of inflation anywhere. Why with unemployment like this – dreams along with trees going to the sky.
mitch…..there is no inflation anywhere….too much slack in economy…maybe in a few years we will see inflation…not anytime soon
Ford is crashing got sell signal
mitch…..correction….you are already seeing inflation in one area ..STOCKS…..expect stock inflation to continue….higher than you can imagine……i see new highs in spx….YES ..above spx 1600
bond buy looks good so far ……looking for a couple of points .. then dump
phil:
Imagine trying to talk clients into buying Notes and Bonds here. The equity market is making fools of some managers right now. The herd will be flanked and shanked but not until it’s a lot fatter.
many money managers….say that 3 times fast lol…..are falling behind the benchmarks…they will contribute to the upward acceleration as they buy to save their jobs…of course the coming parbolic spike will lead to a nasty correction
YERK…..i dont see 1155 on matts box but i know from the 1990s to now that number has extremely important on the way up and down…i am fairly certain it will be seen again
K Says:
August 24th, 2009 at 1:20 am
well looks like more people are noticing the divergence i saw
http://chart.ly/d9xgte
>>>>K….see the down gap last year???i see an UP GAP coming to trap all shorts until spx 1600 is taken out
K,
Is there a mobile APP for SD? StockCharts does well on it but FreeStockCharts doesn’t because it uses Silverlight.
dax double-top – might well reverse from here
Phil, inflation in stocks and commodities. If this contiues I will get some humble pie.
30 short
phil – a Matt’s box is 70.72 spx points. top of box of bulls + 70.72 = 1155.52
So you’re .52 off…
All boxed in.
YERK…..i screwed up ….again……………sorry
switched all my DXD for VXX here
broken – ride on up
The iPhone stock app says all global markets green shoots. Supposed to be real-time.
Matt,
did you delete my comment? I didn’t want to offend you. Quite the contrary. I dislike IBM a lot, too.
bond rally approaching inital target…will take some profits soon
looking for 94.5 to 94.7 on TLT to take profits
Set up now to trade on the iPhone. My broker has a mobile app and if going thru their website they switch to mobile. Cool.
The only charts that are useful, so far, are StockCharts. I don’t think I can scalp using this setup because it is klugy to use… no multi-tasking. So I’ll go to a higher level, say the 5-10min and have a longer trade. Once I get used to it, I can probably scalp the 1min.
94.77….is 60 min 18 per ma and 4th wave of lesser degree resistance…will dump TLT there
As slowly as this market moves, 1min scalps should be no problem.
I do (will) miss all the screens though when I use this to trade.
George, you can get more iphones
pomo incoming – so this retracement might well see a reversal later today
finger on sell button as 94.77 TLT is near
phil what is yourtimeframe for 1155
500 TLT sold for 1 pt gain
scotty…dont have one…
Yerk,
Good solution – buy more iPhones. Or, hack it to broadcast the 3G and hook it up to several computers.
TLT fell 2cents short of my target……..RATS…….lol
scotty…if this is 3 of 3 up we could be at 1155 in a matter of days to a couple of weeks
scotty… in crash last oct 1155 to 837 took 6 days….. is it so unbelievable that we go up half that amount in 6 days????
i want to BUY TLT near 94
george…….i want to buy a sharp dip in spy
phil:
This market is tentative up here. However, so far I would liken the pull backs to be deluges in tiny paper cups.
george…..15 min chart spx with 23 period ma has supported all dips on this move up…..i am going to hold my nose and buy there …take a look
23 ma is near 1030 spx now on 15 min
phil me thinks reversal later/lower today or tonight but GL
still watching
bot tiny position SSO………will add if we get more correction
that is all folks…….good luck…………hasta
Thanks Phil
hey phil, futures just lost 10 pts in one hour. If they continue at that speed we will be at 115.5 in less than four days
Phil – take care.
added more spy 97 sept puts @ .85, filled around 1:34 PM…i’m wondering why these are down so much when the SPY is a smidge of a smidge in the red as i type…
Inverse nearing double tops.
phil,
Sorry, had to step out. I see the dip on SPY 15min. Waiting for an entry is Tres Amigas shows up.
Thanks
phil,
dollar spike… Did you see that? Seems like TLT has some near-term upside…what do you think?
I’m holding to 96.
close at lod possible.
Slow day I see. Well the green shoots came on my tlt 95 sept call but this was my first day fully away from trading
. Until later this crackberry head is signing out
More swine flu fears… http://bit.ly/vRzSR
BLAHHHHHHHHHHH
http://data.newyorkfed.org/creditconditions/
George – tagging up…TAG…you it. Box of Chocolates ? Touchy.
When is it gonna melt ? Can we call this Icaraus Chocolates ?
There mixed metaphor, mythology and momentum trading.
http://wallstcheatsheet.com/economy/are-markets-being-manipulated/?p=1426/
i really want george or anyone that wants to check spx 4hr interval 1st candlestick today
http://stockcharts.com/school/data/media/chart_school/chart_analysis/candlestick_pattern_dictionary/candleShootingStar.gif
shooting star pattern on the 4hr spx
A single day pattern that can appear in an uptrend. It opens higher, trades much higher, then closes near its open. It looks just like the Inverted Hammer except that it is bearish
spy can be used as well.. so can compx so can the qqqq
OEX (spx 100) has the most defined bearish reversal
and here is my latest blog post for those lazy ones
Blog Post: Shooting Stars are everywhere. Is it time to turn into a growling Bear? http://bit.ly/UY6eh
Obama to reappoint Fed Chairman Ben Bernanke: WSJ !!!!!!!!!!!!!!!!!!!!!!!!
George,
the bearish candle still in effect
Remember BBT bearish candlestick? seems like there is resistance somewhere up there
http://stockcharts.com/h-sc/ui?s=BBT&p=DAILY&b=5&g=0&id=p56008784310