the last 10 minutes

come on guys-------- who do you think---could make the magic ------our govenment at work with the institutional guys and brokers-------only explanation!! Ambac-----had nothing too do with this-------just an excuse for juice Our government can not afford to let the market tank at support -----and that is what happened-they know the support ----and wiill act on support., This happened in 2003, 2005 and now. I remember -----7,400 was critical support in 2003, 10,000 in 2006----now it's at 12,000.

The news was intentionally released to the media to calm the market.

As I posted around noon, the put premium action was very strange. I said it to my trading partner and independently he picked up on the same thing. He said why are SDS puts not paying on this action. I said get out now! Was it paulson's trading cronies?

Edited by AChartist, 22 February 2008 - 10:38 PM.

As I posted around noon, the put premium action was very strange.
I said it to my trading partner and independently he picked up on the
same thing. He said why are SDS puts not paying on this action.

I said get out now!

Was it paulson's trading cronies?

Sure. The speed and intensity require the kind of concerted muscle of the Corner Offices.

This is ultimately not that big a deal. Eventually Berkshire Hathaway would take over the muni situation. Buffett doesn't need Ambac, MBIA or any of the others. If anything they need him. They didn't take him up on his offer because they knew the banks would bail them out and they wouldn't have to find other jobs. This is of course a very simplistic explanation. The point is, don't take your eye off the ball. This whole monoline thing is minor compared to the issues the banks still have to deal with. That something as staid and safe as municipal bonds had become vulnerable shows how bad everything else is. Municipalities still have to service their debts with a massively shrinking property tax base.

Absolutely, getting a lot worse. When others ask me about alternatives, like bonds, I have to laugh. Next these fools are going to abandon stocks for debt backed by bankrupt taxpayers. They dont have a clue. They think future taxpayers are going to pay the bonds? It's already a 4th world country in all measures of civilization metrics. There wont be any future taxpayers. What a socialist meltdown disaster. If you'll note every currency failure are the socialists bankrupting the taxpayers in the guise of curreny destruction. It's getting to where my taxes are moving toward zero on the collapse rate, so they will be changing the tax law like 30% consumption tax next. When you work for the company store, they own your soul. I'm looking into incorporating myself and get some of that welfare state gush up out of the next generation meltdown and currency failure.

Edited by AChartist, 23 February 2008 - 07:07 AM.

Isn't it interesting that the Friday closing NYSE Tick was -59. Someone was happy to run 'em up while the party was on, but was quick to pack up at closing time.

Sure, it was beautiful. Their wh*re Maria announced the leak (I hear from the board, I I have a strict rule about not watching the all day infomercial) with plenty of time for the herd to follow the muscle in and insure their (the muscles') profits. I don't doubt some was booked at the very end but, I expect the yahoo "traders" and the short coverers to pile in at the market open on Monday to supercharge the muscle in the corner offices' take on this set up. The "pop" may go all day but, it would not surprise me in the least to see a "pop and drop" once the muscle thinks they have corralled all the the herd they can into the canyon. As I always say, you guys watch CNBC so I don't have to.

the brokerage firms make money..the brokers make money..and 2 out of 3 aint bad......