Look how easy this shit is when you just throw the rules away!
Dow Soars 300 Points In 5 Minutes
Posted by Bess Levin, Sep 19, 2008, 9:35am
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Posted by Master of None , Sep 19, 2008 9:37AM
Bess,
Smartest thing you've ever said.
Regards,
MoN
Posted by guest , Sep 19, 2008 9:37AM
Rules? We don't need no stinking rules!
Posted by guest , Sep 19, 2008 9:47AM
Bess, nice way to update to 300 when you first posted 251...accuracy counts!
Posted by Bess Levin , Sep 19, 2008 9:49AM
@3-- i said 250(ish) in 3 minutes, which was accurate. at 5 minutes, it was 300(ish).
Posted by guest , Sep 19, 2008 9:51AM
so this means i can have a job now?
Posted by pdtrading , Sep 19, 2008 9:51AM
That's not true. There are plenty of rules.
Such as: no financial institution, major investment fund, or anybody on the planet will ever be required to take a loss on a long position.
Or another personal fave: There shall be no disclosure of corporate holdings. Ever. Even if they're worthless. Ever, ever, ever. Goddammit, I said never!
And the coup de grace: From now on, I will not be known as Chairman Bernanke. Refer to me as "God" or "His Royal Highness, the Wondrous and Intensely-Sexy-Even-With-His-Beard-and-Bald-Chrome-Sir-Ben".
#2 - Apparently we do need rules, because it seems that most of us are so misguided as to believe that, you know, we live in a free market or something.
Posted by guest , Sep 19, 2008 9:57AM
Bess, 3 here...I wasn't knocking you - it was a smart move to take it down and reup the post with 3hundo...
@5...damn...can't you tell Bess is stressed about Carney leaving...let the market hit 500 and then reinquire.
Posted by guest , Sep 19, 2008 9:58AM
Shit 5, i thought you asked for a blow job.
Posted by Bess Levin , Sep 19, 2008 9:59AM
@5- yes.
Posted by Master of None , Sep 19, 2008 9:59AM
Next we will have US taking a page from China and allowing direct investment of taxpayer money into the equity markets.
The economy is just as shitty today as it was on Wednesday. The only thing that has changed is that a lot of asset classes have been reclassified from risky to risk-free by the government.
This is great for those who scooped up distressed mortgages (PIMCO) and holders of other securities.
When it's all said and done the bailouts could be close to $1 trillion in a matter of weeks; that's close to adding 10% more to the national debt, which has built up over a hundred years.
In a few months the dollar will have dropped to "unprecedented" levels and inflation will be running at 5%. Then maybe we'll see interest rate hikes. That will kick the last leg out from equities - in the meantime the EPS downgrades from currency will be enough to limit upside going into 3Q and 4Q earnings.
Bear market rally. Sell into strength.
Posted by guest , Sep 19, 2008 10:28AM
A+ post.
Posted by guest , Sep 19, 2008 10:29AM
"Next we will have US taking a page from China and allowing direct investment of taxpayer money into the equity markets."
This is exactly what Sen Shumer and Obama are proposing in an RFT as opposed to the RTC proposal.
Posted by guest , Sep 19, 2008 10:41AM
being geographically disconnected here on the P coast, it's great to hear that I'm not the only one that is disgusted by what's going on right now.......Talk about shock and awe....WTF.....
Posted by guest , Sep 19, 2008 10:51AM
the author should put down her crackpipe and go back to school.
what are "the rules," bess?
why are you zealously promoting ignorance?
oh, well, I guess I know.
Posted by NotNasser , Sep 19, 2008 10:51AM
New rule: No transaction will be allowed on the stock markets in the US at any price LESS than the price of the previous transaction in that asset.
--
Okay, that's stupid. But only marginally worse than what we've got.
Posted by guest , Sep 19, 2008 10:52AM
being geographically disconnected here on the P coast, it's great to hear that I'm not the only one that is disgusted by what's going on right now.......Talk about shock and awe....WTF.....
Posted by guest , Sep 19, 2008 12:23PM
Three words. Dead. Cat. Bounce.
Posted by guest , Sep 19, 2008 12:25PM
Wow. The market gets really, NO, I MEAN REALLY, upset that the big boys won't bailout LEH, and Paulson goes from no more bailouts to bailouts all around.
Maybe the beginning of dark days at Goldman caused Paulson to "see the light."