Inmerse following wordly events doesn't prevent me to feel particularly proud today because today the girl is starting her university studies, she has choosen social worker studies.
Particularly proud at my boy's and wife's support.Few years ago the girl, who had a rough life, (her mom died when she was 10), living in and out in a foster home (neighbors of us) so we get to know her since she was a baby but she started living there regularly when she was 10.Few years later got pregnant and drop middle shool.Things flare up badly and well, we open our hearts and home to both of them.
She started again school and 4 years later she finished high school and ready to keep advancing in life, has a boyfriend for more than one year now , a young lawyer, well nobody is perfect,(just kidding) but..she..has..to keep..studying is our motto, and fortunately she knows that.
And the little one is really something.Watching them of course makes me feel proud but the most lasting impression inside of me is having witnessed people blossom, just for the mere fact of being empowered.
Well basically was empowering her because the devilish little one doesn't really need too much to feel empowered, indeed.He came turbocharged.
Yes empowering people and the pursuit of knowledge (the last one a lonely and arduos trip) are probably the two basic things chiselled in my brain.
And as an astrology researcher I'll talk to the future with this lines besides sharing them with all of you.
Maybe years down the road if the little one learns English and reads this paragraphs he will capture how proud uncle Daniel felt the day that her mom started college, I honestly hope that this could help empower him too at any trial moment in his life.
I'm a very proud and happy man today.
Dan
Markets is wait and see if a correction come at February 3 even 4 at the latest or just keep the trend up withouth correction again.
I'm still waiting for 1260 or 1300 to broke decisively.
ReplyDeleteThe correction was less than 3% I expect more before start moving up again but it should keep moving down no later than Friday and with the kind of acceleretion of past Friday but bigger to have a decent chance to be meaningfull.Otherwise is more churning up.Will see.
Dan
Meant acceleration
ReplyDelete@Dastro:
ReplyDeleteSometimes when you're too close, you lose perspective. I hope your neighbors have perspective now. And I'll bet if you ask them, they'll tell you they're proud too.
Maybe that's like day trading.
Or maybe not.
Anyway, looking at a lot of charts during our micro-correction, I see the time difference between the price fall and the rise is stunning. The price fall takes but an instant, but the rise is slow, sure, and steady.
I've been having some fun with NVDA. I truly expect that one to fall into the abyss, and with a quad top, it just might be this time. So when the stochs hit 90%, I short a little, and when the stochs hit 10%, I long a little.
I'm up about a K$, without setting any stop losses.
Isn't that interesting?
Also, it seems a long time ago, I bought a little SSO just for fun, I think Cobra suggested that. After all this time, it's made about $14.
I guess that means we're just churning. So I think I'll just have fun with NVDA for awhile.
@Dastro:
ReplyDeleteHave you seen the DLTR, FDO and all those cheap company stocks? They're off from their December peaks by 20% or so.
If it's a correction, the market doesn't think it'll be a double-dip recession.
Buy the dips!
By the way, you all know this is the news feed to watch:
ReplyDeletehttp://english.aljazeera.net/watch_now/
If it's not blocked in your location.
Speaking of blocking, if anybody finds out if the Superbowl will be audio-streamed anywhere, please post it for me. Thanks.
Looking at more than a million protesters, I'm wondering where all the portapotties are.....
ReplyDeleteOne of the things that haven't seemed to make the MSM about the Egypt situation, is that people are becoming their own police.
ReplyDeleteThe people go to work during the day (if they can) then when they get home, they pick up weapons and stand outside their homes. So far, this practice has discouraged looters and other brigands. These people have no confidence in the police, who are suspect in the looting.
This is a picture of anarchy.
Best of both worlds today. Longs doing well and short STILL doing well. When to cover? Hhhhmmm......
ReplyDeleteDenise and Manny - be safe in that storm today!
ReplyDelete@Dastro,
ReplyDeleteReally happy to hear and am proud of you too! This Earth has a balance. Day and night / Good people bad people. That's what makes the world go!
ICan
NBG,
ReplyDeleteUp over 6% today!
ICan
Dan - Thanks for taking the time to write that up and for sharing such a wonderful story with us.
ReplyDeleteEven having both parents who are supportive is not guarantee for success, but not having any does make things more difficult.
It is too bad she had to suffer in life the way she did (Then end up with a lawyer...) but it great that she had good and loving people around her to offer support (Even though she is with a lawyer...) and help her realize that she has the power to make a difference in not only her life but the life of her child (The lawyer, he will be a lost cause no matter how hard she tries...)
Congradulations to her, her little one and all the people who have helped to make her life better (Yes even the lawyer...)
Mangy Mutt
@Dastro,
ReplyDeleteEmpowering people:
My family(my uncles, my parents, myself) have done a lot for many many people around us. By helping them immigrate to Canada when they didn't know direction to Delhi(figuratively speaking), to helping people in receiving education, justice and many many situations. Some of them have become millionaires in Canada. Most are doing well. But in the end you have to realise to let go!
ICan
@Thor: Storm is over here. We actually didn't get the worst of it, maybe "only" 6-7 inches or so, but there's literally nowhere to throw the snow anymore when shoveling the driveway. Going to be a muddy, messy spring. Sunny out now but 7 degrees.
ReplyDelete@Mannwich
ReplyDeleteI think I might take a little break and go down to the pool for a dip.
Thanks for rubbing it in, Rock. I'm starting to wonder if I might be happier with less financial security in a better climate. These winters are rough on me.
ReplyDelete@Rock,
ReplyDeleteDid Cobra change the headline on his post! Last night's AH summary and the later post, he said the trend was down. I was thinking Ist of the month money flows.
ICan
@jeff,
ReplyDeleteSTOP sending all that snow my way! Yo Yo weather.
It was amost -52(wind chill) in Saskatchewan few days ago. Then -2!
ICan
"Looking at more than a million protesters, I'm wondering where all the portapotties are....."
ReplyDeleteThe revolution will not be sponsored by Mastercard.
@ICan
ReplyDeleteYes, MarketSci said in their email that the first is a + day, and the 2nd is a follow through day.
I think Cobra is full of bear. His list of bears__t is really long.
I'm still full of bull. My list of bulls__t is the fed's buying, the economy's recovering in corporate world (not in the private world) and that's what's driving the market up up and away.
Did you see the gold miners, PAAS? Etc? Wow. I'm thinking my worthless son has something there. I'm thinking of nibbling a little on those yellow metal miners. Maybe we should ask Dss when she wakes up if GDX looks like something we might want to investigate deeply.
One more point: I like V for an upside. They're up today (I got in long and a full position very quickly after the big fall of 12/16 and the ensuing step up up up. I'm thinking people's savings have gone down, the people are spending, V and MA revenues are probably going up. UPS is up, and you gotta use your credit card to ship the stuff by UPS.
@Emmanuel117
ReplyDelete"The revolution will not be sponsored by Mastercard. "
That's ok. The internet's shut down so nobody can pay anyway.
@ICan
ReplyDeleteYou may want to think about taking some profits on SU. Looks like a typical resistance pattern to me, Stochs are at the top, and the relative strength is dropping like a flying monkey.
MACD is turning down.
Everything looks like a resistance pattern.
P.S. It's good to pay taxes. Especially now.
@Dss
ReplyDeleteHave a look at SU on the 60 min chart. You'll see a bird pattern forming.....
Good morning! Woke up to an astounding 2 inches of snow! Schools are shut, people are buying the stores out of food, and it is just a little bit of snow.
ReplyDeleteI hear the worst is still coming...
My son, who lives in another city where there was ice had his car slip down the driveway overnight, while it was parked! He woke up to see the car half in the street.
I have enough food for at least a week, but it sure gets boring after a few days.
And, to think, this woman could be our nation's president:
ReplyDeleteMichele Bachmann won't go through full-body scanners at airports b/c she fears naked pix of herself online
http://minnpo.st/e6TOpP
Stopped out of my position.
ReplyDeleteIf a nuclear bomb went off in Egypt we might see Dow 36,000 the next day.
Rock,
ReplyDeleteI don't see a bird, I see a rocket, perhaps you need to adjust your glasses. :-)
LOL Denise. So true. Amazing. The Put to End all Puts. Regretting not covering a bit but mine still weak. I'm hanging in there.
ReplyDeleteWikinomics vs. Wall Street. Who wins?
ReplyDeletehttp://www.marketwatch.com/story/wikileaks-vs-wall-street-in-a-war-for-our-souls-2011-02-01?pagenumber=2
What a nice story Daniel! Congratulations to you! You must be one proud papa/uncle :-)
ReplyDeleteRock,
ReplyDeleteWhat I see in daily GDX, it is sitting on it's 200 MA, it has a MACD buy divergence like February and August 2010.
However, it is also sitting on a longer term trend line from January 2009, and looks weaker than the other pullbacks as the 20 and 50 ema's are now sharply turning down.
Not technically in the strongest position but you can do anything if you have a stop.
Dan,
ReplyDeleteThanks for sharing with us your story, proof that people can rise above the most difficult circumstances with support from the people around them.
Ditto Dan. Great story indeed!
ReplyDeleteICan,
ReplyDeleteWas that F or C?
2 good articles on the Egyptian military:
ReplyDeleteThe Egyptian military calculus
Five Things You Need to Know about the Egyptian Armed Forces
DOW 12K. Again.
ReplyDeleteNo fear. Was that our correction on Friday?
ReplyDeleteLooks like another trend day up today, this market fears nothing!
ReplyDeleteRock,
ReplyDeleteYou might want to ask Manny as he has the hot hand around here lately.
As far as the kings of overstatement and hysteria, what do they have to say?
ReplyDeletehttp://www.zerohedge.com/article/world-becomes-zimbabwefied-cotton-futures-surge-17-one-month
Although I can see how rising commodity prices may well end being a disaster for the global eceonomy, and already has been one in some places. Just not yet in the U.S.
The other armageddon blogs can't be too thrilled these days either. Apparently nothing can stop this "market".
ReplyDelete@Rock,
ReplyDeleteThanks for the warning on SU - sell the news Wed? But, XOM was buy the news!
@dss,
Monsterous Storm heading our way! That's what Canadian media are calling it.
Go to go.
ICan
The NAZ going bonkers today.
ReplyDeleteEmmy,
ReplyDeleteThanks for the links. After reading about the military it is easier to understand what is happening. They really are the key to the future of Egypt.
I try to avoid the worst of the blogs but it is still disconcerting when you read that the US (who has the ability to print it's own money) is bankrupt, in the normal sense. No one is bankrupt if they can continue to print their own money.
ReplyDeleteManny,
ReplyDeleteI think that ZH like Lou Mish learned that eyeballs and revenue follow when the rhetoric gets increasingly inflammatory, but like the boy who cried "Wolf" one to many times, the call to Armageddon will be ignored. It is difficult to shake someone's mindset, though.
Is the internet slow today for anyone else? It is like molasses here today.
ReplyDeleteFine for me, Denise. Agree with you about Lou and ZH though.
ReplyDeleteOh Emmie - reading now, these are good
ReplyDeleteBloomie confirmed what I thought was happening. They said that European banks sold 38% of their US Treasury debt last month.
ReplyDeleteAnybody wonder who bought it?
Um, first guess, The Fed, perhaps?
ReplyDelete@ICan:
ReplyDeleteOne of my rules is I don't stay in a stock when it reports.
Opportunities are endless, unless you haven't preserved your capital.
Denise - The cold weather is probably making all the binary 1100010111's coagulate and the fiber optics that transmit all those 110001110's is probably constricting. So the combinations of gummed up 1's and 0's along with the constricting lines carrying them is making your internet connection slow.
ReplyDeleteIt is either that or more people in your area are online, because they have no school and people working at home, that is causing more data then usual during the day.
Personally I say it is the the 1's and 0's have turned into molasses.
Mangy Mutt
So what happens when the Fed needs to unload all of the Treasuries they've bought?
ReplyDeleteManny - hah, no, the other end of the world blogs are still predicting the end times. I've been checking a few of them out lately, same old same same old. "January saw the high for the year" (bizarre prediction). "The high will be in March" (really" why?) Talk about trying to trade what you want rather than what you see.
ReplyDeleteRock
ReplyDeleteOh definitely! The neighbor is in their 60's and started a special program for adults to get her high school diplomma like 8-10 months ago.
I-Can
They live with us (with my wife and boy, really) no plans of getting married for now.
Mutt
Yes he has to bring a decency certificate in order to get access to the house, and I think he doctored the signature more than once.
Dan
Manny - Who says they ever have to unload them? Maybe all that debt will just quietly disappear....
ReplyDeleteI'm only half joking.
@MAnnwich
ReplyDeleteAs soon as the interest rates go up, the banks will buy them back, and the Fed will destroy the money they've printed.
Actually, it could work.
I never thought they'd get TARP money back, but except for Fanny and Freddie, they, no we, got most of it back. and when they no we sell C, we'll show a profit on tarp.
Think your taxes will go down? You don't need to answer that, it's a rhetorical question.
@Rock: But aren't they simply hiding most of the real losses in Fannie and Freddie, which will then be ultimately dumped on the taxpayer to be responsible for? All the while bankers who were largely responsible for the mess make even bigger bonuses and refuse to pay their share in taxes to cover the mess THEY helped to create?
ReplyDeleteRock
ReplyDeleteI remember mentioning first days of Feb as a chance for NVDA to come down, but the market needs to help going the same direction.
If it's going to fall soon I'l pay attention to Feb 6 and with more chances Feb 13-14 to have a nice drop.
Dan
DSS
ReplyDeleteYou are correct, the US is monetarily sovereign and all it's debt is denominated in dollars.
So if people still consider the dollar a valuable thing all over the world and hoard and transact with them yes the debt gets eroded with and increase in the monetary base.
The debt is not going to be paid in the traditional sense.
Dan
So basically all of Friday's losses (and then some) are now erased. Amazing.
ReplyDeleteThe Fed put together a real good article on how this all works. I read it, and the Tarp law, but being old and not a banker, and really not involved in TARP, I've forgotten most of it.
ReplyDeleteI'll look through my old history and see if I can find it for you.
As I remember, it has to do with the fact that all these assets are just paper, and they're only worthless if the Fed wants to sell them. If the Fed bought a bunch of mortgages some of which are bad, the Fed just holds the paper until the mortgages are timed out, they get most of their money because actually most of the mortgages are good, so they simply have to sell the properties that they hold paper for, and take only that 30% loss. That's not 30% of the CDO, but 30% of the failed mortgages (less the down payment or 0, whichever is greater).
It's not that bad. That's why a whole lot of people said "let the banks fail". They would have been restructured, probably not got bonuses for a year or two, and things would have returned to normal with a pretty sudden adjustment in property values, which happened over time anyway.
I don't think the Fed ever bought CDS's, I think they left that up to AIG. I'm not sure why.
@Dastro
ReplyDeleteYeah, thanks, I'm just playing with NVDA for now, without a lower high I keep my risk-on pretty small. And it looks like it's almost getting time to short it again......If it gets up to 25, that'll be a 5-bump top. I don't think I ever saw a 5 bumper before.
I got popped out of my JRCC short at 21.99 Looks like with the higher low followed by a higher high, on a pullback it's time to go long again.
ReplyDeleteAstrologically speaking had the revolt started Feb 19 it would have had a more dramatic effect in the markets here, for a longer period.
ReplyDeleteBut it just took the markets 2 days to overcome the drop.Yes quite something still I expect acceleration in order to be sure that is not a little higher top only.Will see.
Dan
Floats a e-mini short.
ReplyDeleteRock
ReplyDelete"...not a banker, and really not involved in TARP, I've forgotten most of it."
Hilarious.
Yes is the same like when I mentioned past Thursday a septuple top.
Of course they don't exist, is just people in utter disbelief that the market is planning to keep going up and they can hardly accept it so they don't short because if goes up is going to be big losses for them so they buy something.
And they are waiting at the door for any acceleration to the upside so prices keep ebullient.
There's a lot of big fish today that don't have a fucking clue how to interpret this resilience.
Dan
The market must assume that the Egyptian mess will work out well - a new government, not chaos.
ReplyDeleteEmmy
ReplyDeleteWhat's the meaning of...floats a
Probably there's more potential problems with the Muslim Brotherhood than with chaos for all this young secular egyptians.
ReplyDeleteDan
@Dastro
ReplyDeleteSold a ES-mini futures contract.
Emmy
ReplyDeleteGot it. Thank you
The Lede:
ReplyDelete" President Obama has told the embattled president of Egypt, Hosni Mubarak, that he should not run for another term in elections in the fall, effectively withdrawing American support for its closest Arab ally, according to American diplomats in Cairo and Washington.
Al Arabiya television, citing unnamed sources, reported that Mr. Mubarak would announce in a nationwide address Tuesday evening that he would not run for another term.
The message was conveyed to Mr. Mubarak by Frank G. Wisner, a seasoned former diplomat with deep ties to Egypt, these officials said. Mr. Wisner's message, they said, was not a blunt demand for Mr. Mubarak to step aside now, but firm counsel that he should make way for a reform process that would culminate in free and fair elections in September to elect a new Egyptian leader.
This back channel message, authorized directly by Mr. Obama, would appear to tip the administration beyond the delicate balancing act it has performed in the last week - resisting calls for Mr. Mubarak to step down, even as it has called for an "orderly transition" to a more politically open Egypt."
With this news, should I be shorting oil?
ReplyDeleteEnduring America: "But the really important news this evening is that the protesters in Tahrir Square in Cairo have organised a football tournament with the Army."
ReplyDeleteEmmie - that's a really good question! On the one hand, things in Egypt just might work out the way they have been in Tunisia, oil prices back down? Then again, if things work out well in Egypt, that might embolden citizens in other arab countries to revolt - more chaos in the middle east will not be good for oil.. . .
ReplyDeleteLooks like the blizzard of 2011 is here. High winds, blowing snow, and the snow fall is increasing by the minute.
ReplyDeleteBirds and squirrels are frantically mobbing the feeders, and my dog takes a look and goes back to sleep.
ReplyDelete@Thor
ReplyDeleteAh! Good point, though I suspect that's it until this summer, when the summer heat kills another grain crop somewhere. Also, I don't think the Syrian Army is going to have any qualms about killing any protesters (the rulers of Syria are in the minority, if I recall correctly).
Emmie - Syria does seem to be a mystery doesn't it? Their society seems so much more closed than the rest of the middle east. Agree with you though, I don't think the Syrian military would hesitate to fire on the public.
ReplyDeleteInteresting to hear the MSM going on about 100 dollar oil. They're using the Brent Crude number as opposed to Light Crude. Anyone know why? Is it just because the 100 number sounds more dramatic than the 90 that Light Crude is at today?
ReplyDeleteTime to make the lasagna! Then sit back and watch the storm.
ReplyDeleteQE3 coming?
ReplyDeleteLink:
ReplyDeletehttp://www.zerohedge.com/article/here-comes-qe3-hoenig-says-more-quantitatve-easing-be-discussed
@Dan:The little girl started badly in life, but is now on her way towards a fulfulling life then. Congrats to you for giving her a better future.;)
ReplyDeleteAlso, what kind of nonsense is these markets breaking 1300? I can't see many bright spots, in our rather cloudy near future, right?(aside from Dan's story that is.)?...
ReplyDeleteah. nevermind. maybe that's just what we call "reality", since it is.
Wolfie - I think it's QE2, remember how much the market went up after QE1 - biggest rally in decades. Seems like we'd get something similar with QE2 . . .and again with QE3 if and when that finally arrives
ReplyDeleteMubarak speaking!
ReplyDeleteNot good - I wish he'd just pull a Palin already and resign.
ReplyDeleteExplaining the Egyptian Revolution through Indiana Jones
ReplyDeleteOuch!
"King Abdullah of Jordon 'dismisses' government".
ReplyDeleteguardian.co.uk/news/blog/
They see writing on the wall.
ICan
IMF says ready to help Egypt, others in trouble. Here come the jackals.
ReplyDeleteTurkish PM backs Egypt protesters
Emmy - Jackals indeed - "let us show you how you should be ordering your finances, let us begin our presentation by introducing you to our good friends from Goldman Sachs"
ReplyDeleteI see Al-Jazeera is giving Mubarak the "front page ugly face" treatment on their English site.
ReplyDeleteExactly Thor
ReplyDeleteThe gentlemen of the IMF will allways have a warm place in every argentinian people after more than two decades regaling us with their untap well of wisdom about how to run things to bring us back to prosperity.
Wolfie
Thank you.Regarding 1300 and up, it probably could be define as the wall of worries.
Of course have to pass this first week and the Feb 13-14 threshold.
Dan
Meant every argentinian heart.
ReplyDeleteYemen After Saleh. Another reason to doubt a tidal wave of revolution.
ReplyDeleteEmmy,
ReplyDeleteMore great links! Where do you find these things?
Emmie - good article on Yemen. They've also got a secessionist movement going on there at the moment and they've fought a couple of civil wars (North and South Yemen I believe) over the last 30 years.
ReplyDeleteNow, Putin
ReplyDelete"Putin's secret billion dollar palace on the Black Sea". - Wikileaks Russia - businessinsider.com
ICan
@James'
ReplyDeleteWere you able to download Nasa WorldWind 1.4?
If so, neat to watch this storm.
ICan
From the NYT Led blog -
ReplyDeleteElBaradei on Mubarak speech,"Clearly an act of deception by a person who doesn't want to let go..a dictator who doesn't want to listen to the voice of the people".
And there is another old goat in Africa in Zimbabwe, and Libya. Any Arab country that has a democraticaly elected govt.?
"Zimbabwe Set for Chinese Cash Boost". http://www.guardian.co.uk/
ICan
ICan - yes, Lebanon
ReplyDelete@Thor,
ReplyDeleteStable? Still too much violence! Syria is meddling in their affairs.
ICan
Ican - oh no, not stable at all! Good point.
ReplyDeleteLake Shore Drive Muted by Evening Blizzard
ReplyDelete@emmy & Thor: Jackals and loan sharks. Just "here to help". Sure thing.
ReplyDeleteCrazy Denise. I'm hearing it could end up being Chicago's worst snowstorm ever. Amazing winter all around.
ReplyDelete@ICan
ReplyDeleteNot a surprise. Putin is the defacto czar, and the Russians love him for it.
@dss
Stay warm up there.
Emmie - Ironic isn't it? Or maybe it's just sad. . .
ReplyDeleteSo we had the PIIGS, and we've all been dutifully waiting for each to fall. Now we're on to a new world crisis in another region with new countries falling and newer ones about to fall. Someone should figure out an acronym!
ReplyDeleteThe storm is really powerful and snow is drifting quite high. I can hardly see out of my windows as the snow is sticking to the windows and not falling off. If it were not for the lights I would not be able to tell that there is a house across the street.
ReplyDeleteThe wind is really howling which is a little scary and I hope that we do not lose power.
@emmy,
ReplyDeleteThanks. I am just worried about the power staying on as we have lots of tall trees around the neighborhood.
(wishing I took that trip to Florida!)
I'm SO JEALOUS! I love extreme weather.
ReplyDeleteSo, following Rock's example, shall I rub it in and tell you the current temps in south Florida?
ReplyDelete(Sorry!)
Yes please. It's a chilly 54 in LA tonight.
ReplyDeleteKayem,
ReplyDeletePlease do! I can still dream of warm weather. I have no idea what we are going to wake up to tomorrow morning.
Our back door had a drift piled up against it and our dog wouldn't jump it so we had to throw him into the snow. Once outside he was chest deep in snow and bewildered, but running around like a goof.
Thor,
ReplyDeleteIt is fun while it comes down but we probably won't see it melt until March!
WOW! Take pictures!!
ReplyDeleteI'll try tomorrow.
ReplyDeletePretty soon Rock will come in and talk about how he is walking around in flip flops and shorts.
ReplyDeleteBlizzard continues to rage, drifts may reach 6 to 8 feet later tonight
ReplyDeleteWeather conditions across the Chicago area have gone from bad to worse over the past couple of hours as winds gusting to 60mph whip heavy snow into drifts. Intense thundersnow is now moving into northeast Illinois and weather conditions will continue to go downhill throughout the night. Unfortunately, the situation is going to get a lot worse overnight before things slowly improve Wednesday afternoon.
I hope we can get out of the garage tomorrow!
thundersnow! That's very cool.
ReplyDeleteDenise - Your storm.
ReplyDeletehttp://i.huffpost.com/gen/243411/MID-WEST-SNOWSTORM.jpg
I wonder how valid concerns are that Egypt could go the way of Iran. Why would Egyptians want a theocracy? Not when we have Iran and Afghanistan as examples. Both were repressive, and in Iran's case, the young people in that country are also trying to throw off a theocracy. . .
ReplyDeleteDenise - I will one up Rock and tell you about how I am walking around naked - OH wait that is probably WAY TOO much information :)
ReplyDeleteMangy Mutt