Thursday, September 3, 2009

Tee 'Em Up - We'll Knock 'Em Down

As the top churns the news becomes more unrealistic by the day. Let's just jump right in.

The WSJ has Geithner Pushes for Tough Global Capital Rules. When is this moron on a power trip gonna get a clue? We should not be kissing butt, but we sure as hell don't need to be pissing off anyone right now. "U.S. officials have called for tougher capital requirements for months, but Mr. Geithner’s detailed proposal comes as many European leaders have shifted their focus on bank regulation to things such as limiting the size of banks and caps on bonuses. So the U.S. proposal could be controversial and set up a clash of top regulators as fault lines form over the best way to supervise banks." You see Timmay is so deep in the pockets of the corporate financial behemoths that he is not taking an agenda to the meeting for us, he's taking one to protect the banks and allow their "to big to failness" the grow even larger. WTF is this guy thinking?

Perhaps everyong but Timmay has read this, Prag Cap brings us THE STIMULUS CAN’T SAVE THE STOCK MARKET…. This is my kind of article, "In fact, you could argue that much of what governments have done have actually made the problems worse. Unfortunately, we haven’t solved the problem of excess debt and all the stimulus does is prolong and delay the eventual day of reckoning with this mountain of debt. Comstock does a wonderful job of detailing these long-term issues." Now you are talking. Someone telling it how it is. "It is unlikely that we’ll solve these problems until we admit we have a problem, bite the bullet and begin focusing on the real problems that got us in this mess to begin with. Printing more dollars and encouraging more reckless lending is not part of that solution…." Talk about ringing the bell - give that man a prize.

At Trim Tabs they are following the Fibonacci retracements for insider selling moving from 31 times to the full 61.8x retracement exiting August. As usual, TD and the gang dig up the truly dreadful stuff we all love to read. In Insider Selling/Buying Ratio Doubles to 61.8x TD has, "TrimTabs earlier disclosed that the ratio of insider selling to buying had averaged about 31x for August, with $6.3 billion of insider sales matched by only $210 million on insider buys." You'd think you should hear this news somewhere other than on Zero Hedge.

The Big Picture has Personality, Emotion, and Trading Performance. "In that study, we found, no single set of personality traits was significantly correlated with favorable trading outcomes. Rather, it was emotional reactivity overall that seemed to best predict profitability." I suggest you read this. With all the emotion I read in the chat rooms and get in emails it could only help. Behavioral finance is cool shit. Really. brings The global consensus is starting to crack to the table. Ok, I read this and thought I was reading a CNBS script. Nothing in this article sounds correct to me. "The novelty is wearing thin. The eager anticipation and diplomatic hoopla that attended the London summit has given way to a certain weariness ahead of this month’s gathering of the Group of 20 leading nations. Back in the spring, leaders of the biggest economies could claim to have saved the world. What on earth do they do for an encore?" Encore? Fucking encore? Saved the world? And "That said, officials preparing the summit fear it will be something of an anti-climax. In part, that is inevitable. When the leaders last met, many saw a risk that the global financial crisis could yet trigger a 1930s-style depression. For once, a summit communiqué actually mattered. But the point of maximum danger has passed." What? The point of max danger has passed? What the hell is this dude smoking? Apparently he believes in the finance fairy and that all the off balance sheet assets that have been GAPed away will never reappear. Sorry, the usually reliable FT screwed the pooch on this one. Please remove all cool-aide from the building immediately.

And one last post from ZH, cause I can not resist - A must watch vid that will leave your jaw on the floor - Congressman Pete Stark Explains Leverage, Tells Reporter To "Get The Fuck Out"

Look for my morning post.

GL trading.


  1. Hey nothing bothers Little Timmy (aka Wesley Mouch)

  2. ...............ding ding ding.............

    frazier is down, frazier is down.

    pump this pig w/ some bs data tommorow for me....
    so i can load em up...(talking out loud)

  3. TGS - We need to punt Timmay and the whole gang.

    Erik - I'm short. Very curious about this weekend and some potential bank closings.

  4. The problem with globalazation is that it does nothing to resolve the basic problem which is
    market distribution, based on actual need. We could feed everyone, house everyone, and have long term stable markets. Problem is that's anathema for privateers and profit mongers.
    Capitalism without ethics is Cannibalism. There
    is no shortage of Cannibals, there is a serious
    shortage of ethics. Immoral and unethical governments cannot produce a populace that does not reflect that government's amoral attitude.
    Bottom up change is hopelessly impossible.


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