Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: bentway who wrote (400906)	7/23/2008 8:13:07 AM
From: HPilot	Respond to of 1577920

What you think is a "market turnaround" is the result of truly desperate coordinated efforts by every part of the Bushie government to throw up little ramshackle ledges as we go over the cliff. They are directed by Bernanke and Paulson, who unlike most Bushies, are at least competent. No it's simply short covering. The market will slump again, but I think we may have hit a bottom. We will know soon.

To: bentway who wrote (400906)	7/23/2008 12:02:33 PM
From: tejek	Read Replies (1) \| Respond to of 1577920

What you think is a "market turnaround" is the result of truly desperate coordinated efforts by every part of the Bushie government to throw up little ramshackle ledges as we go over the cliff. They are directed by Bernanke and Paulson, who unlike most Bushies, are at least competent. You think that I am basing my prognosis on what the Bush administration is doing? After I have watched their incompentence for the past 7 years? You don't know me very well, Chris. I took my significant profits in FRE and FNM Monday and yesterday. That's how much I believe in the Bush administration's 'cures'. Their latest move is to say that free markets can only be free when the direction is UP. The market celebrates. Another error that will make the inevitable downside even more painful. They are under orders to keep it up until AFTER the election. Ask yourself, have you ever in your life experienced such sustained, protracted bad financial news, or such massive government interventions? I haven't. As I see it the problem with the banks was that there was no transparency. We knew they were sitting with a glut of subprime crap but no one was providing the detail that was needed to determine how bad it really was. In the three CCs I've listened to the past few days......the detail is there now. They know exactly what loans are bad, what percentage are defaulting and what they are doing to get them off their books. Why do you think the banks are rallying so hard the past few days? Why is WM flatlining after reporting the worst quarter in its history? Sorry if you can't see the forest for the trees. Secondly, we have a reprieve from oil going up. Apparently $148 is resistance. I think we see oil flatline somewhere between $110-120 for a while....maybe lower if we're lucky. Maybe for a few months if we are extremely likely. Thirdly, housing is turning up in some markets. You like to report statistics from ground zero like LA. Sorry dude, but LA does not make a national housing market. Conditions are improving in a slew of housing markets across the country albeit very, very slowly. Even FLA is getting on the bandwagon in small ways. Fourthly, the business inventories have never gotten as high as they typically do in recessions. So then, should demand pick up businesses will have to start hiring quickly. Fifthly, the highest unemployment claims have gotten are around 380k. Typically in a recession they are over 400k. Sixthly, there is some strong evidence that business growth is slowing in China. That should take some pressure off of inflation along with the plateauing of oil prices. If you like shorting so much, short some DUG......I think oil stocks will be good short candidates for a while. My final suggestion: Shortie heal thyself!