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Pastimes : Where the GIT's are going -- Ignore unavailable to you. Want to Upgrade?

To: Oral Roberts who wrote (150409)8/21/2007 11:35:29 AM
From: Augustus Gloop  Respond to of 225578
 
Its assisted suicide. I'm all for free markets but that works both ways. The banks have an advantage that they shouldn't have. Its hard to save people from themselves and thats where the banks have got to use their heads. I really think at some point we could get a 1987 like event. The Dow and Vix charts suggest a potential big ugly in our future.



To: Oral Roberts who wrote (150409)8/21/2007 11:39:21 AM
From: Augustus Gloop  Respond to of 225578
 
What kind of event has to happen to see 48.50? This reminds me of the VXN just days prior to 9/11. The bullish PO was like 65-70 and I recall thinking WTF could cause a 65-70 reading on the VXN? A few days later I found out


Volatility Index - New Methodology ($VIX) INDX
21-Aug-2007, 11:35 ET, daily, O:26.39 H:26.72 L:25.16 C:25.18 V:0 Chg:-1.15
Traditional, 3 box reversal chart 
Bullish Price Obj. (Revised): 48.50
© StockCharts.com
  41.00 |                                                                                | 41.00 
  40.00 |                                                                                | 40.00 
  39.00 |                                                                                | 39.00 
  38.00 |                                                                                | 38.00 
  37.00 |                                                                 X              | 37.00 
  36.00 |                                                                 X O            | 36.00 
  35.00 |                                                                 X O            | 35.00 
  34.00 |                                                                 X O            | 34.00 
  33.00 |                                                                 X O            | 33.00 
  32.00 |                                                                 X O            | 32.00 
  31.00 |                                                                 X O            | 31.00 
  30.00 |                                                                 X O            | 30.00 
  29.00 |                                                             X   X O X          | 29.00 
  28.00 |                                                             X O X O X O        | 28.00 
  27.00 |                                                             X O X O X O        | 27.00 
  26.00 |                                                     X   X   X O   O   O        | 26.00 
  25.00 |                                                     X O X O X                  | 25.00<
  24.00 |                                                 X   X O X O X         +        | 24.00 
  23.00 |                                                 X O X O X O X       +          | 23.00 
  22.00 |                                                 X O X O   O X     +            | 22.00 
  21.00 |                                                 X O 8     O X   +              | 21.00 
  20.00 | +                                               X O       O X +                | 20.00 
  19.50 |   +                                             X       + O +                  | 19.50 
  19.00 |     +                                       X   X     +   +                    | 19.00 
  18.50 |       +                 X               X   X O X   +                          | 18.50 
  18.00 |         +               X O             X O X O X +                            | 18.00 
  17.50 | X         + +           X O     X       X O X O +                              | 17.50 
  17.00 | X O         X + +       X O X   X O X   X O X +                                | 17.00 
  16.50 | X O         X O X +     X O X 7 X O X O X O +                                  | 16.50 
  16.00 | X O X       X O X O +   X O X O X O X O X +                                    | 16.00 
  15.50 |   O X O     X O X O   + X O X O X O X O +                                      | 15.50 
  15.00 |   O X O     X O X O     X O   O + O + +                                        | 15.00 
  14.50 |   O X O 5   X O   O X   X     +   +                                            | 14.50 
  14.00 | + O X 4 X O X     O X O X   +                                                  | 14.00 
  13.50 |   O X O X O X     O X O X +                                                    | 13.50 
  13.00 |   O X O X O X     O   O +                                                      | 13.00 
  12.50 |   O X O X 6           +                                                        | 12.50 
  12.00 |   O X O X                                                                      | 12.00 
  11.50 |   O   O                                                                        | 11.50 
  11.00 |                                                                                | 11.00 
  10.50 |                                                                                | 10.50 
  10.00 |                                                                                | 10.00 
   9.50 |                                                                                | 9.50 
                                                                                                  
--------------------------------------------------------------------------------
+ = bearish resistance line
+ = bullish support line



To: Oral Roberts who wrote (150409)8/21/2007 11:40:36 AM
From: PatiBob  Read Replies (1) | Respond to of 225578
 
While these kids were and still are financial morons these banks are a big part of the problem.

Yes, they really are. You can thank Jimmy Carter for the high interest rates on credit cards as well as their ability to kill you with mounts of debt there's no hope of getting out of except with bankruptcy.

Interest rates on credit cards is legalized stealing.

They also have a nice little scam with changing the remit to address all the time. Mortgage companies are jumping on that band wagon as well. They know many people bank online, set up payments to be paid automatically each month. They change the remit to address and all of a sudden, you have a late payment because you sent it to the wrong P.O. box.

We have a rent house and this has happened to me twice. I would open the monthly statement every few months just to make sure nothings changed. The first time I saw a late fee I called them and they said you sent in your payment to the wrong address so I went to the list history and sure enough it was two digits off. Thinking this was my fault, I paid the late charge and went on about my business. Then, it happened again 6 months later. This time I went back through all the statements for a year and low and behold, I did have the correct p.o. box number originally, they changed it. When I called them on it the second time, they said this was my problem, they send out the statement each month, they don't have to notify me ahead of time that they are changing the remit to address.

Pissed me off to no end. Now, each month, I open the statement, make sure the address is correct.


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