SKFBACHello, I Need your Tax Dollars12/01/08
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Full disclosure - I'd be short Bank of America (BAC) here, with stop loss over that 20 day moving average (aka north of $16.50s or so) - I'd use a 4% stake or so.I'd be short until the US government uses my own money [Nov 24: Details on Citigroup Bailout] to blast myself out of my position, using my ...
Both Our Supports Broken in 1 Session12/01/08
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The casino speaks - both S&P 870 and 840 violated within hours.We'll see how it closes but we'll assume lower than S&P 840 for now... we'll see how the last 35 minutes play out. Last week was like the teenagers home alone while the parents were on vacation, given drinks by the senile grandpa...
Uncle Ben B Signals the End Game; US in Recession for a Year12/01/08
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Some not so breaking news for our readersWe signaled a few weeks ago [Nov 12: CNBC Europe - USA May Lose its AAA Rating]Minerd doubts that private savings in the U.S. and foreign purchases of Treasury debt will be sufficient to meet those government cash requirements. That leaves the Fed to take up t...
EBSEmergent BioSolutions (EBS) Hits Investors Business Daily12/01/08
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Investors Business Daily has an article out on Emergent BioSolutions (EBS) that could read straight out of the blog - namely, it has a customer whose pockets are endless and a long sight line on revenue (a rarity in this market) - remember, we have 2 names who rely on government and ironically both a...
JRCCJOYGBookkeeping: Weekly Changes to Fund Positions Year 2, Week 1712/01/08
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Year 2, Week 17 Major Position ChangesFund positions of 1.0% or greater can be found each week in the right margin of the blog, under the label cloud and recent comments areas; I highlight weekly the larger position changes.Being a long only fund, via Marketocracy rules, the only hedges to the downsi...
UWMSKFIrony11/28/08
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There is great irony in the fact that the day after Thanksgiving used to be a trader's dream in that many institutions did not participate and the volatility in the market and especially smaller cap stocks was intense.... now, in the Year of Volatility - this is shaping up to be one of the quieter da...
AP: Malls, Hotels Next Victims in New Mortgage Crisis - MSNMoney: The Tax Increases Begin11/28/08
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Story from AP on themes we've been touting for a long while...... I have a hunch Americans will "come through" on Friday and shop 'til they drop due to the sales, but later into the Christmas season the numbers will be disappointing. But when the figures roll in Monday from the weekend, we have a go...
Let's Look at the Potential Upside11/26/08
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So far some great action on the day - and the casino is yet to open. 3 PM is now at the doorstep - would you like a drink with your rally? I just hope all the folks who jump in at 3 PM for their one hour of work did not leave early for the holiday - we need their buying power; would really like to ...
Bloomberg: U.S. Government Now on Hook for $8 Trillion+11/26/08
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The Federal Reserve is now Atlas.... let's just hope they do not shrug....During the war of the TITANS, ATLAS stormed Olympus and threatened the Gods. And as punishment for this war crime, ZEUS sentenced him to hold up the heavens and bear their weight on his shoulders foreverI was going to post this...
ADSCMEBookkeeping: Closing CME Group (CME) and Alliance Data Systems (ADS)11/26/08
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I am tidying up the portfolio as we have too many positions for this type of market where flipping ETFs every 48-72 hours is all that matters - I am going to close 2 of our smallest positions, CME Group (CME) and Alliance Data Systems (ADS)At this point, as 0.1% stakes in the portfolio, if these posi...
Bloomberg: Soros and Citadel Building up Coal Stakes11/26/08
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I'm still a fan of coal - this is why as I've dumped much of my global growth/commodity plays as hedge funds collapse - I've keep fertilizer and coal since they should be the LEAST economically sensitive. In theory you'd want your home heated or the ability to eat food even in a Great Depression - a...
JOYGBIDUBookkeeping: Cutting Baidu.com (BIDU), Closing Joy Global (JOYG)11/26/08
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Chinese stocks are flying today as China cut interest rates yet again...China announced its biggest interest rate cut in 11 years on Wednesday to spur private borrowing and support a multibillion-dollar stimulus package to boost slowing economic growth.The 1.08 percentage-point rate cut -- the fourth...
BKEBuckle (BKE) - Fundamentals Don't Matter11/26/08
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The Buckle (BKE) is a great example of why there is no reason to do fundamental homework or look at individual stocks anymore. The market could care less about any positive news. This is a retailer - fine; we've been among the biggest bears on retail far earlier than it was fashionable to be bearis...
LPHIBookkeeping: Cutting Life Partner Holdings (LPHI) Stake11/26/08
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I am cutting Life Partners Holdings (LPHI) in half as it now approaches its 50 day moving average - unfortunately when we entered this stock the chart was tremendous but just our luck the moment we began buying it broke down. Without having the ability to have stop losses in Marketocracy.com, by the...
CBACReuters: After Citigroup (C) is Bank of America (BAC) Next?11/26/08
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We posed the exact same theory after the Citigroup (C) bailout was announced. Good to see realism and cynicism reach into our news agencies ;) That Countrywide Financial exposure cannot be a good thing. I am also wondering if the Merrill Lynch (MER) deal is still going to go through - certainly th...
Food Crisis to Resume Next Year?11/26/08
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We haven't spent much time talking about our "World of Shortages" themes since the commodity indexes have crashed, with hedge fund deleveraging being one of the main culprits. Certainly demand destruction is part of the theme as well. However, the implications as we look out past the short term rem...
WMCFDIC Troubled Bank List Grows 46% - Is Your Bank Safe?11/25/08
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As I wrote recently, I don't see much value in the FDIC Troubled Bank List considering two quarters ago it was missing IndyMac Bank - which went on to the largest bank failure at that time, and then last quarter [Aug 26: FDIC "Troubled Bank" List] it missed Washington Mutual (WM) which was the large...
JRCCBookkeeping: Cutting James River Coal (JRCC) on Bizarre Rally11/25/08
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I don't know what is going on with this stock; it's movement are of completely random nature of late. It's up 35% today so I'm going to sell most of the position into this rally; taking this down from a 0.9% stake to 0.1%, selling here in the $10.30s. It made a similar huge move last Wednesday out ...
Inspirational11/25/08
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Amazing story - maybe if the world was run by 8-11 year olds we wouldn't constantly run into trouble - 2 minute video<object classid="clsid:d27cdb6e-ae6d-11cf-96b8-444553540000" codebase="http://download.macromedia.com/pub/shockwave/cabs/flash/swflash.cab#version=8,0,0,0" width="320" height="270" ...
I have been in the market in some form since being a teenager, first with mutual funds, than onto to
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I have been in the market in some form since being a teenager, first with mutual funds, than onto to stocks. Now it is 20 years later. It has been a passion of mine, and as any investor, I've had my ups, downs, and tuition extracted from learning the ins and outs. "If I only knew then..." and I continue to learn each day. I have a BA in economics from the University of Michigan (Go Blue!), and work in finance (not related to Wall St). Obviously my goal is to work in investment management, so that I don't need to "work" another day of my life.
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I have been in the market in some form since being a teenager, first with mutual funds, than onto to
