Thread: justbizness45's Account Talk

What a week!!! Good news is the week ended C up around 3.3%, S was also up around 3.6%. That is around a percent less than the indexes. Normally I would be estatic to make that in a week but the euphoria is numbed by the horrid losses from the first part of the month. With all the fear and the wild swings it's amazing we managed to hold any gain. I also managed to get another 90 shares of C through my payroll contributions. The real question is can we continue to move up next week. I am still betting on at least 1050 but that is going to be near strong resistance so I'm not confident we can move higher before the next drop.

Search dog training tomorrow so I get to play in the woods. Everyone have a great weekend, Dave

Futures are up this morning, not that it means anything in this market. Lots of earnings reports this week. Fasten your seatbelts and put your trays in the upright position. Flight attendants prepare for take-off. GL to everyone this week.

Passengers will please remain seated with seatbelts buckled. Severe turbulence is expected. There is a possibility this flight may yet be cancelled. Thankyouverymuch.

Originally Posted by Eldritch Flatus

Passengers will please remain seated with seatbelts buckled. Severe turbulence is expected. There is a possibility this flight may yet be cancelled. Thankyouverymuch.

Today was a good takeoff but it is a long flight back to 1160.

I expect we will see some consolidation today early after yesterdays gains. Futures are down this morning. We really need to break above this wedge Tom's been talking about. We've gotta get above 1000 on the S&P to keep this rally alive. Is today the day?

I partially capitulated today. I sold my losing S and some C for G. Currently 50C, 50G. I have been reading K Denninger for about a year now and he has been spot on in several areas. His latest article. scared the bejezus out of me. See Corepunchers post #1081 for the article.

If we break out below the wedge in Tom's TSPTalk I will probably go 100G and wait for the bottom. It looks like we are sitting right near the bottom edge of it right now.

Yeah, and he dropped this nice little nuke near the end of the article:


"The FSC has not only limited insurance company exposure to Fannie, Freddie and Ginnie bonds and mortgage-backed securities, but has decided that existing credit ratings are meaningless.

The Insurance Bureau at the Financial Supervisory Commission in Taipei announced revised rules on how insurance companies can treat investments in mortgage-backed securities (MBS). The FSC says it cannot see how the United States will develop a valid mechanism to assess the credit quality of MBS issued by US federal housing loan agencies, namely Fannie Mae, Freddie Mac and Ginnie Mae."

That's right folks. Taiwan's primary regulator for insurance companies has ruled that:

1. Ratings issued by our so-called "agencies" are worthless.
2. Agency securities can no longer be considered sovereign, "money good" debt.

Now maybe you think this is funny.

It is not funny. In fact, there is absolutely nothing funny about it.

This is how we lose our credit access worldwide.

It has now officially started and what Taiwan has done will spread.

Count on it."

http://market-ticker.denninger.net/a...T-OUT-NOW.html

Originally Posted by justbizness45

I have been reading K Denninger for about a year now and he has been spot on in several areas. His latest article. scared the bejezus out of me.

Originally Posted by Christopher

Yeah, and he dropped this nice little nuke near the end of the article:


"The FSC has not only limited insurance company exposure to Fannie, Freddie and Ginnie bonds and mortgage-backed securities, but has decided that existing credit ratings are meaningless.

The Insurance Bureau at the Financial Supervisory Commission in Taipei announced revised rules on how insurance companies can treat investments in mortgage-backed securities (MBS). The FSC says it cannot see how the United States will develop a valid mechanism to assess the credit quality of MBS issued by US federal housing loan agencies, namely Fannie Mae, Freddie Mac and Ginnie Mae."

That's right folks. Taiwan's primary regulator for insurance companies has ruled that:

1. Ratings issued by our so-called "agencies" are worthless.
2. Agency securities can no longer be considered sovereign, "money good" debt.

Now maybe you think this is funny.

It is not funny. In fact, there is absolutely nothing funny about it.

This is how we lose our credit access worldwide.

It has now officially started and what Taiwan has done will spread.

Count on it."

http://market-ticker.denninger.net/a...T-OUT-NOW.html

Uhhhh, that one wasn't there when I posted. His Wed. post was bad enough. My bejezus factor just went up another notch.

Originally Posted by Christopher

Yeah, and he dropped this nice little nuke near the end of the article:


"The FSC has not only limited insurance company exposure to Fannie, Freddie and Ginnie bonds and mortgage-backed securities, but has decided that existing credit ratings are meaningless.

The Insurance Bureau at the Financial Supervisory Commission in Taipei announced revised rules on how insurance companies can treat investments in mortgage-backed securities (MBS). The FSC says it cannot see how the United States will develop a valid mechanism to assess the credit quality of MBS issued by US federal housing loan agencies, namely Fannie Mae, Freddie Mac and Ginnie Mae."

That's right folks. Taiwan's primary regulator for insurance companies has ruled that:

1. Ratings issued by our so-called "agencies" are worthless.
2. Agency securities can no longer be considered sovereign, "money good" debt.

Now maybe you think this is funny.

It is not funny. In fact, there is absolutely nothing funny about it.

This is how we lose our credit access worldwide.

It has now officially started and what Taiwan has done will spread.

Count on it."

http://market-ticker.denninger.net/a...T-OUT-NOW.html

Does this mean Taiwan says don't loan on American Securities?? If worldwide credit dries up does that make us like Iceland? Anyone want to weigh in on this?

Originally Posted by justbizness45

Does this mean Taiwan says don't loan on American Securities?? If worldwide credit dries up does that make us like Iceland? Anyone want to weigh in on this?

Bingo. At least that is my take also. Can you say "third-world-country"? Here's another question.

If the US defaults on its loans to other countries, we won't be able to defend ourselves. If our money is worthless, how can we pay our military or have supplies in which to defend ourselves? Looks like we were more than robbed, this might be bordering on treason in a backhanded way.
What a horrible thought.

Originally Posted by wv-girl

Bingo. At least that is my take also. Can you say "third-world-country"? Here's another question.

If the US defaults on its loans to other countries, we won't be able to defend ourselves. If our money is worthless, how can we pay our military or have supplies in which to defend ourselves? Looks like we were more than robbed, this might be bordering on treason in a backhanded way.
What a horrible thought.

WV-girl, thanks for stopping by. Your comments are most welcome. Let's just hope that this doesn't spread.