Thread: 350zCommtech's Account Talk

I went ahead and jumped into the I...any one else coming with me?

Originally Posted by BigJohn

I went ahead and jumped into the I...any one else coming with me?

I'm in also.

I'm still in CSI.. I'm feeling this is just an one-day bounce and I made the mistake, but I still think F is still too expensive and needs to go lower

Originally Posted by 350zCommTech

I'm in also.

Personally I hate the I Fund and I think this is a one day wonday wonder. I just went back to 100% F Fund. This isn't based on charts etc. just instinct. I really believe the market will drop before the day is over and many will fall into the trap again.

Best of Luck !!!!

Originally Posted by Braveheart

Personally I hate the I Fund and I think this is a one day wonday wonder. I just went back to 100% F Fund. This isn't based on charts etc. just instinct. I really believe the market will drop before the day is over and many will fall into the trap again.

Best of Luck !!!!

Yeah, I hate the I fund too.

As for my move, it was partly based on charts and where the OSM were at before the cut-off 12:00 est. But I just realized the OSMs are still trading. Crap, they haven't changed their clocks yet.

I think 3%+ gain will be seen as the good sign and everyone will be jumping in to make some money. tomorrow should be good too.

I agree and what makes this different is that Helicopter Ben didn't ride in with rate cut. I like the "thinking outside the box" move here giving what amounts to an "end-around" move to prop up the finacial system and boosting the dollar and cutting the legs out from underneath the oil speculation all in one swoop. Wow.

I see mass exitus out of speculative commodity driven oil and gold into equities Day 1. Should see a few more days and dear I say and nice bottom put in here as FED Rate cut possibility will keep the market interested for awhile until the FED meets next.

Looks like a sustained rally.

The breakout of the symmetrical triangle to the downside on most indexes may have been a head fake.

Originally Posted by felixthecat

I agree and what makes this different is that Helicopter Ben didn't ride in with rate cut. I like the "thinking outside the box" move here giving what amounts to an "end-around" move to prop up the finacial system and boosting the dollar and cutting the legs out from underneath the oil speculation all in one swoop. Wow.

Looks like a sustained rally.

Helicopter Ben - unfortunately has been more of a puppet over the past year - and a rate cut will be very hard for him to avoid within the next month or so.

Anyway - welcome on board - I appreciate your input; especially the first paragraph.

As for the sustained rally - that's pretty unlikely (at least if you mean going beyond a few days). A sustained rally is what all of us are longing for - but I think Birch's prediction of 7/08 is more likely.

Originally Posted by 350zCommTech

Looking at the markets. The I fund is a NO-BRAINER for tomorrow. The Yen carry trade came back in a big way. Japan should have a big night tonight. With the Dow up 260 already, there is less chance of a +FV.

Big +FV coming. I only have myself to blame for this one.

The S&P should at least test the 61.8% level near 1340 tomorrow.

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Might not want to fall in love with this rally.

MARKET COMMENT

March 11, 2008





There will be no John Galt-like solutions from this gang of bureaucrats and politicians. The government [taxpayers] is taking over the management of markets [Moral Hazard be damned] as noted in this release per Bloomberg:

“The Fed said in a statement it is establishing a new Term Securities Lending Facility to, through weekly auctions, lend as much as $200 billion of Treasuries to primary dealers for 28 days, instead of overnight as it currently does. The loans may be secured by collateral including agency and private mortgage- backed securities, the Fed said.” [emphasis added].

The sentence in bold indicates that collateral may include “…non-agency AAA/Aaa rated private-label residential MBS [Mortgage-backed Securities].” This “may” account for those securities still maintaining high ratings even though they’re junk. [see other Bloomberg story here.] Does that smack of government pressure and collusion with rating agencies to maintain high ratings so the Fed could take-in these securities as collateral when in fact these companies needed bailouts? Circumstantial evidence argues strongly that it does. In fact, the bottom line of what happened today is the Fed swapped Treasury Bonds for junk mortgage bonds. It will help WS banks and their balance sheets but not necessarily solve the housing problems. And who will eat the difference? You!

I wrote over the weekend that rumors were swirling that a big rescue package was in the works and it has come to pass. Add to this the likelihood of interest rate cuts next week and the Fed/Treasury will have fired all of their your ammo.

The team of Bernanke and Paulson are clear they will do whatever it took with your money to monetize junk debt to bailout their WS friends. There will be a large tab for this down the road.

This morning I looked at conditions overseas and noted Europe was up substantially with the only ascribed reason being the hackneyed hope for more interest rate cuts. But that didn’t seem credible. Since so many players in Europe and the US are involved in this bailout scheme some traders certainly knew. Also, this news was released before the opening, which has become the Fed’s habit, to inflict as much pain to shorts as possible. No question, this is a big time short-squeeze.
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