I'm Buyin! I'm Buyin!

For the first time in a while, I bought stocks today. Goddamn it, nobody out there like s stocks and that's when you want to buy. I'm not getting too aggressive, as it's hard to tell if this rally will last. But hey, if I'm wrong, I'm just gonna blame Warren Buffett. He made me do it!

Ben, You Always Cease to Amaze Me

Let me ask you a coupla three things Benjamin:

Do you think the credit market is better or worse today than it was after dot-com bust/9-11?

Do you think the global economy is more or less impacted by the credit crisis than it was post dot-com bust/9-11?

Ok, if you aren't a complete idiot, you answered yes to both of those questions. Now for my third question:

THEN WHY THE *(*(*( HASN'T THE FED CUT RATES TO AT LEAST POST 9-11 LEVELS TODAY? CONFIDENCE IS MUCH WORSE. THE CREDIT MARKET IS WORSE, AND DIRECTLY BENEFITS FROM FURTHER CUTS. IT SAVES THE MORTGAGE RESET EVEN MORE THAN A BAILOUT. AND LOWER RATES HAVE A PERFECTLY NEGATIVE CORRELATION TO HOUSING PRICES, THEREFORE IMPROVING ASSET VALUATIONS AND HELPING THE BANKS AVOID MASSIVE BALANCE SHEET SHRINKING.

"Hey Ben, where do you get your balls!?"

Hope you enjoyed your black tie lunch the other day.

Thanks, Meg! You are the Alan Greenspan of Tech!

Meg Whitman, take a bow: you have pulled off the second biggest back stab of the last two years. After taking the helm at eBay early in the decade, you mismanaged the auctioneer so horrendously that a once great franchise has collapsed into a market-share-hemorrhaging debacle. And yet you managed to leave in March 2008 and hand off a ticking time bomb to poor old John Donahoe, who has to wear a poncho to work every day because sellers and shareholders wait outside the front door at eBay headquarters to spit on him when he arrives each morning. It reminds us of another Houdini act, pulled off by the so-called "Maestro" Alan Greenspan, who aided and abetted the biggest credit bubble in the history of the world, only to hand off Great Depression Part Deux to Ben Bernanke. So a toast to Meg and Alan, the most worthless chicken shit pussies in recent memory!

Idiots

Do the genius' in DC not yet get that we dont want to see them on TV in tuxedos with Maria Bartiromo sipping champagne and lamenting on the financial crisis?

I REALLY CANT TAKE IT. I want to see them in Tuxedo t-shirts, chewing skoal, and sipping heavy crude next time.

Changing Professions--Becoming a PIrate! (Arrrrrrgh)

You would think that another down 300+ day would be the impetus for me rethinking my chosen career--it is not.

It is the fact that ANOTHER ship was hijacked off of Somalia overnight. (See http://www.reliefweb.int/rw/fullMaps_Af.nsf/luFullMap/6F7A9682B19148DCC12574D7004439A6/$File/unosat_SEC_som081002.pdf?OpenElement highlighting recent pirate attacks)

Not only is this getting ridiculous, but I am thinking this will be a more profitable business than working on the Street for the next year plus.

Considering I cannot do any business in this tape, carrying an AK-47 and sailing the high seas sure sounds like a fucking vacation! Throw in some sun, rum and an occasional rape or gang bang and fuck...that is A LOT more fun than sitting in front of 4 screens all bleeding red and contemplating slitting my wrists.

The only downside to my anticipated career change would be the fact that Iran has had some ships made to act as dirty bombs--one was hijacked by the Somali Pirates and a handful of them actually died after going through the cargo! Here is a link to the story:

http://www.foxnews.com/story/0,2933,430681,00.html

The other chatter surrounding this seizure and ultimate death of some of the pirates is that the CIA was aware of the ship and paid the pirates to make their move. If that is true, that is fucking priceless.

Stay tuned, I am sure there is more to come on these stories. In the mean time, I have installed my Wifi on my vessel, the "Stealyourface" and am steaming full speed ahead for the Indian Ocean...

Moral of the story: Do NOT hijack Iranians ships or if you do--wear a chem suit, or NEVER TRUST THE CIA!!

I Have My 3 Jumpers!! A Bottom Is At Hand!!

A down 20% week was the catalyst I was looking for in terms of a prior post wherein I was looking for at least 3 jumpers to call a bottom in the tape. In the last week, the following has happened, which sucks for the families involved, BUT IS GOOD FOR THE MARKET! Granted, they all did not jump, but killing yourself due to market losses is always a sign of a bottom. Here are a few instances of what I am talking about.....

• An out-of-work money manager in California loses a fortune and wipes out his family in a murder-suicide.
• A 90-year-old Ohio widow shoots herself in the chest as authorities arrive to evict her from the modest house she called home for 38 years.

• In Massachusetts, a housewife who had hidden her family's mounting financial crisis from her husband sends a note to the mortgage company warning: "By the time you foreclose on my house, I'll be dead." Then Carlene Balderrama shot herself to death, leaving an insurance policy and a suicide note on a table.

• Los Angeles based Karthik Rajaram, 45, a former money manager fatally shot his wife, three sons and his mother-in-law before killing himself. He left a suicide note saying he was in financial trouble and contemplated killing just himself. But he said he decided to kill his entire family because that was more honorable, police said.

• A Tennessee woman fatally shot herself last week as sheriff's deputies went to evict her from her foreclosed home. Pamela Ross, 57, and her husband were fighting foreclosure on their home when sheriff's deputies in Sevierville came to serve an eviction notice. They were across the street when they heard a gunshot and found Ross dead from a wound to the chest. The case was even more tragic because the couple had recently been granted an extra 10 days to appeal.

• In Ocala, Fla., Roland Gore shot his wife and dog in March and then set fire to the couple's home, which had been in foreclosure, before killing himself. His case was one of several in which people killed spouses or pets, destroyed property or attacked police before taking their own lives.

This all is obviously horrible and very scary. It is also what marks a bottom.....






--The Angry Trader

Palin Boo'd at Flyers Game

How great is that? Having grown up in Philly(which contributes a significant amount to my overall anger level--for a variety of reasons) it really came as no surprise to me that this would occur.

First, Philly has been so worked up by the Lib's in town, it was a no-brainer that this would happen. No matter their Democratic mayor has turned the city into a giant shooting arcade, the city is crumbling and taxes are going up.....Kill the Republican apparently is the theme in good old Negadelphia.

Moreover, this is a group of fans from a city that threw snowballs at Santa!!

Shit, Santa lives close to Alaska, so it makes perfect sense to me that Flyers fans would boo the way they did.

You also have to hand it to Palin, who dressed her little girl in a Flyers Jersey to keep the crowd gentle and in her corner. Just imagine if Palin and co. came out in between the 2nd and 3rd periods with the entire arena gassed on their 20 beers!!

A quick link to the video:

http://www.youtube.com/watch?v=fj24wJh5rPk

Flyers rock, Palin sucks....

=

Merill Cuts NOK to Neutral from Buy

Wow!! Shocking!! I am glad the dopes at ML have pulled their collective heads out of their asses and are more focused on fundamentals...

Here is a chart of NOK for the past year....hell of a time to downgrade!

I will call this marking the bottom in the N/T. Any rally to 18-19 however should be sold hard. Very hard as they will be the next MOT.

--The Angry Trader.

Punxsutawney Phil, or George the Groundhog?

It is so funny to me that our incumbent President has become nothing more than a groundhog, hiding in his hole until his term has concluded.

Think about it--this Ass has come out of his hole (hiding under the desk in the Oval Office) about once every 4 days to address the Public for no more than 2 minutes at a clip. Sounds about right for Punxsutawney Phil--he comes out, or I should say is dragged out of his hole, for about 2 minutes, either sees his shadow or does not and then goes back to hiding.

Bush, in the same vein comes out, is dragged from his George Costanza like hole under his desk, has no commentary just as Punxsutawney Phil has none, sees the whites of the Press' eyes and runs and hides.

It is pathetic. Simply pathetic. This Ass will have the WORST legacy of any American President.

--The Angry Trader