Saturday, October 11, 2008

Saturday Stuff

6:30pm: You know, I consider it the HEIGHT of irresponsibility, that a trusted mutual fund outfit like Vanguard, would allow their Mom and Pop and 401K investors to be wiped out, in the Wellesly and Wellington Income funds, I mean, they haven't lost every thing, as one of them yeilds like 4% and the other 5%, so over the last ten years, they would have probably picked up 40-50% in yeilds, but, I mean, with good old grandfather John Vogle coming on the tube all the time, giving his fatherly advice, you would think they would tell their clients, to like, hey, get out, it don't look to good, and come back in a while, when WE think the market has stabilized. Now, I know, that when you invest in a "fund", that is your own responsibility, but with the "concept" that they advertise on, you would think, that them being "proffesionals", they would either tell their clients they are going to take emergency hedging measures, or simply freeze the fund for a while. I think it's disgusting.
A classic example of this, is for a lousy $195 a year, Teresa told her clients to go to cash back on September 25, What a Day! What a Week! What a Month! , I mean, Vanguard makes billions off Mom and Pop for god's sake.
It's like I've always said about what I hear on the street, that Fidelity has the best traders on the Street, and why, you ask, does Fidelity have some good traders???? Because, when you buy a fund in Fidelity, you make your check out to Fidelity, not to the fund, I mean, your money just goes into the general ledger in Fidelity, your performance for YOUR fund is based solely on the closing price of that fund, IE, if the best trader's on the street think the market is going to dump, they take YOUR money, our of the GENERAL fund, and use it to short the shit out of the markets, and basically, AGAINST YOU!!!
Oh, yea, I forgot to mention, if we go down, or are flat going into the close monday, I'll probably throw some money at one of them in my Vanguard account, hahahahaha(yea, I'm a roach, SO WHAT!).
Since the games are done, I'm watching one of my favorites, "Final Destination 2", the edited version of course, where they don't show every one getting chopped to pieces (why do they have to show an edited version, the gore is much greater on the Street these days, hahahahaha), anyway, in the scene where the stoned dude gets cut in like five easy pieces (yea yea, that was another movie) by the barbed wire fence, the Highway Patrol man says to jump in the truck, so we can get to the hospital. And of course, the freaked out girl with the vision's, is DRIVING the truck!! Hahahahahaha, I mean, I only bring this up, because I probably should have majored in film editing, to try and straighten Hollywood out on their idiot scenes, sigh! Another reason I bring this up, is because I have such a hard time trying to figure out, if the girl super hero is A.J. Cook, Anna Faris, Reese Witherspoon, Julia Stiles, Mario Bello, or who ever, the golden years suck.
As I'm writing, number one Oklahoma, Oklahoma , has gone down, number three Mizzou is losing, number four LSU is losing, so I guess Bama' move's into the top spot, with Texass moving into numero duce, oooohhhh, the pressure, hahahahahaha! I have to admit, Texass looked pretty impressive today.

7:45am: Millfff mulfflll hummmpptt gumrpfdsstt, oh sorry, I'm having a hard time talking with nails in my mouth, as it just started snowing, pretty fricking early for our first of the year, anyway I'm busy nailing the doors shut, as I guess I won't be going outside again until March 1, 2009.

As you know, I have been extremely negative on the NasDogs, some times called the Q's, mainly because of up coming earnings season, which get's under way this coming week with INTC and GOOG leading off.
I haven't changed my view of their future potential, as I think the average Joe is going to be waaaayyy more concerned with buying food during the coming depression, than checking his black berry every two minutes. But, they are certainly way more attractive now, after getting slaughtered with the rest of the market, but what really catch's my eye, is that MarketWatch put up a weekend special on them:

WEEKEND EDITION Techsunder fire
Tech tales: Prepare for the worst

These, of course, are classic contrarian investor headlines. Like, the "Prepare for the worst", has not already, a big chunk of that "worst", been taken out of them?? I mean, I'm not saying it will happen, but it sure seem's to me they have the "potential" for some upside surprise's. Regardless, I have no interest in them, as I more than have my hand's full with my own current problems, but, it sure seem's interesting.

Mike Huckabee is on FOX news right now, saying that the extreme activity in the last hour of trading the past week, is coming from our enemies around the world, IE it's a conspiracy to destroy the USA by foreign shorters!!! Hahahahahaha, Mike, Mike, Mike! This is dangerous stuff of course, because it probably represents the general frame of mind of our public servants, who are licking their chops at the thought of more regulation and bigger government pay roll's, to gain absolute control over the "free" markets. I used to like Mike to, tut tut, I can understand why he ignores the fact that the other world markets have sold off worse than us, he certainly couldn't insinuate that we are trying to destroy the rest of the world by shorting their markets, hahahahahaha!!
I'm telling you, this guy, well, I don't know what to say, I can only think that he throw's this stuff out, because he knows that 99% of average investors don't have access to a chart, where they can go back and actually verify, that he called the "EXACT" bottom retest on March 11, 2003, MARK HULBERTWe haven't hitthe bottom yet , the red arrow on the right is the "exact" bottom retest on March 11.

Anyway, that's neither here nor there, the real reason to show this chart, is to show what a classic double bottom "retest" looks like, and that was July and October in 02'. The circle in July is "THE BOTTOM", at 77.33, and then in October, we had the absolute coolest thing ever, the red arrow points to October 9, when we had the "retest", at 77.43, we then opened up the next day, and promptly took it out, IE, the classic stop run, scared the shit out of everyone, and then finished with a beautiful bullish engulfing bar, I mean, it just don't get any better than that. My point is, is that we aren't even fricking CLOSE to a bottom, or more to the point, trying to find one. My hope is (have I been reduced to the "hope" stage, hahahaha), is that we get a rally soon like we had in July, before coming back to test, where ever we end of making the first bottom. We can't make a bottom, until we get the sucker rally, and then come back to test it, as long as we keep going down, we are months and months away from it.

Global leaders race the clock on credit crisis : I'm telling me, we are always "racing the clock"!!! If we didn't pass the welfare package for JPM and C the world is going to end!!! If the G7 doesn't do what Hanky Panky Paulson says, we are all DEAD!!!! They spends years lying about the economy, and then in two weeks, they are the greatest doomsayers of all fricking time, saying that if you don't give us Ttttttttriilllions of dollars, we won't be able to fix the problems we are solely responsibe for in the first place!!! I don't really think history is going to judge this bunch very kindly. Geeze, they had to have that 700 billion right NOW, only to tell us it may be months before they can start doling it out to those four or five Wall Street banks. I watched an interview with a Community Bank manager yesterday, boy, was she pissed. Number one, they have NO problems, their business goes on just like always, they are taking deposits and making loans in the community, JUST LIKE ALWAYS! But she was just livid at the administration bailing out a few mega banks like this, as it's just going to make her job harder, for if the bail out works, and the mega's get recapitalized with tax payer money, they are going to be back in her community, trying to drive her out of business with a completely unfair advantage, under cutting her margins with all that money that was just given to them.


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