Hello everybody.
I checked today the companies that I mentioned two weeks ago as short candidates (in case the market decides to reverse) as to how they were performing, I mean, is there weakness in price action? (from my astrological point of view), or are the holders getting a little nervous?
What I found is that DECK (probably the most wonderfull thing after sliced bread) showed a drop of 15% couple days after I mentioned it.Now is recovering, but is at midriver so to speak.Which means that could be a good one if it spikes past the top and when reaching a new high we have the stock market dropping, in that case there's a chance of a drop above average for her.
Regarding VRSN it crapped the bed too past week, and is trying to close the gap.Again, if the whole market drops this one looks certainly weak.
TXRH drop 8% show weakness all the way but snapped back in the last two days of the past week but couldn't pierce the price from April 26 and drop again today.
APKT is at the same levels that it was a couple weeks ago.Going up and down.I'm particularly interested in this one this coming Friday and Monday.Price action (if starts showing weakness) should tell me that maybe is ready to go down irregardless the main trend. Which is very important to me, meaning that is not linked to the main trend for a while in it's price action.
ACTG popped up came down an looks strongly horizontal.Is slightly above Apr 26.So with this one I'm not too convinced that can show excessive weakness in a turnaround.
COH is the only one that clearly didn't pay any attention to my post and decided to do it's own thing and went up 5% so I wouldn't consider it a candidate in case that a correction start gaining some traction.It looks solid so why mess with her?
Well will see what happens.Sold the SPPI puts that got the first week of April and keeping calls because maybe we reached a temporary bottom and can reverse.
I'll get some puts if she refuses to get up and fight in the next three days, as an insurance.
Around May 25 should be very exciting. Will see if it happens.
Dan
@Dastro:
ReplyDeleteGood to hear your thoughts. I like your view of DECK. I think that same view may be applied to a number of middle-scale retailers. The upscale retailers, (like COH) I think will hold, and the dollartrees DLTR will hold as well. One perspective I've gotten while in Singapore is that the women here want to look "US Glamorous" with US upscale make-up, handbags, and of course shoes shoes shoes and more shoes. So overseas revenue corporations should be holding.
Be careful with shorting VRSN. There may be cloud stuff, server stuff, and where you are right now stuff tied in with VRSN. As I recall, Symantec owns VRSN, so there may be some privacy pushes the next few quarters. Watch carefully AAPL's position on the position stuff, and maybe investigate VCLK, I think their product is wonderful.
One short I've loved so far is RIMM. I've been a full position short for quite a while. I think going short on companies competing head-to-head with AAPL has merit. It may be more better than going long with AAPL.
It was good I got back in time to go long the refiners. So yesterday evening I went way long FTO and WNR. Although I'll be dropping out of WNR because they're close to the Mississippi, and also Hurricane Season is coming soon.
Stock market structures and support level update -http://blog.afraidtotrade.com/
ReplyDelete"Let the market tip its hand first by breaking structrual support areas before playing out large bearish positions".
@Dan,
Thanks for the update.
ICan
Thanks, Dan for the post.
ReplyDeleteDeck has a particularly interesting chart:
DECK
With the increase of margins for oil I wonder if oil will collapse like silver.
ReplyDeleteCrude Oil Futures Drop On CME margin increase
Crude oil dropped in New York after CME Group Inc. raised margins and on speculation U.S. stockpiles increased to near the highest level in two years.
Oil fell as much as 2.4 percent after the exchange late yesterday increased the amount of money traders must hold as collateral for their crude, gasoline and heating oil transactions, effective after the close of business today. The Energy Department will probably report tomorrow that supplies rose last week, according to a Bloomberg News survey.
“The market tumbled hard on news that the CME was raising margins,” said Addison Armstrong, director of market research at Tradition Energy in Stamford, Connecticut. “We’re up from the day’s lows because of strength in the equity markets.”
Morning folks!
ReplyDeleteFirst they blew up the MBS and along with it, the stock and housing markets now they are moving into commodities:
ReplyDeleteCommodities Trading Is Banking’s New Battleground
Forget bonuses. Don’t worry about bailouts. That’s all history. The battleground that matters most for the banking and finance industry right now is the profits it is making from commodities trading.
Investors held a record $412 billion of raw-material assets at the end of March, almost 50 percent more than a year earlier, according to estimates by Barclays Capital. Trading in futures and options contracts is rising rapidly. For banks and fund managers, it is a lucrative business. And the more volatile it is, the more profitable it gets.
Like the Mongol hordes, they search and destroy.
ReplyDelete"It would be easy to dismiss those protests as nothing more than the complaints of a few anti-business fringe groups and grandstanding politicians. Easy, but wrong. In reality, there is a serious issue here. Speculation in commodities isn’t like trading in financial instruments. People don’t eat Nestle SA (NESN) shares. They don’t need Treasury bills to keep their factories running. The prices of those instruments can jump around like crazy without it affecting people’s lives.
ReplyDeleteBut when the price of wheat or copper soars, it makes a big difference. Some people can’t afford to eat anymore because food is too expensive. Companies that used to be profitable start losing money and firing workers because the cost of their raw materials has risen so much. If they think the banks are to blame for that, they will be angry. "
Morning Thor. Busy week for me.
ReplyDeleteTechnically, the market bounced off the general area that it broke out from, which is normally considered bullish action. It can meander and consolidate above this break out area for a few days before deciding if it will power ahead.
ReplyDeleteRaising the margin rates in the oil contracts should be construed as bullish for stocks, as every knows lower oil is better for the economy and consumers.
ReplyDeleteBut the stock market has not rallied significantly yet to that news. I was looking for a much greater positive response.
Maybe this is an indication of a market that cannot go higher on good news.
ReplyDeleteLast week we had Bin Laden's death, which has major implications economically and this week we have the oil margin increases, which should have been bullish for stocks.
Just more pieces of the puzzle.
I was reading that the Euro needs to hold 1.4250 for the rally to continue.
ReplyDeleteBut, hey, Denise, it's all good. Just "free market capitalism" "hard at work". What a joke. People are so brainwashed they can't even see what's being done to them, and even CELEBRATE what's being done to them (US too) in the name of some holy God and myth also known as "free market capitalism". That's our real state religion in the U.S. Money.
ReplyDeleteAll bow down to the holy God of "free market capitalism". Whatever that means.
ReplyDeleteGood article on China -
ReplyDeleteTHe Coming China Scare
For the first time in its history, China faces a dilemma which involves the interplay between wages, inflation, credit and economic growth.
The first aspect of this problem is that the supply of labor in China is no longer as boundless as it has been for the past three decades. While foreign demand for cheap goods was met with a virtually unlimited supply of cheap capital and cheap labor to produce those goods, the result was a “goldilocks” economy of 10% growth with low inflation. However, times are changing.
Labor shortages are already acute in some sectors and wages are rising spectacularly in a few key manufacturing areas on the east coast. These well-publicized wage increases are significant because wages in China have already been rising much faster than average productivity growth throughout the economy, and the trend has been accelerating. At the same time, due to both external and internal forces, prices for everything in China are rising, particularly basic consumption items such as food. Therefore, for the first time in its history, China faces the real prospect of a wage-price spiral.
Denise - I swear I saw an article somewhere yesterday where even GS was admitting that oil prices were being driven lately more by speculation than anyone else. I'll try to dig it up.
ReplyDeleteIf they could put a "price" on the very air that we breathe every day, these jackals would find a way to do it AND rape the public while getting rich off of it.
ReplyDeleteGood quote from the article
ReplyDeleteIt is important to understand this when contemplating the causes of the extremely high rates of money growth in China and the relationship of these money supply growth rates with past and future rates of inflation. M2 has been growing at a rate of near 20% for several years in China without causing high inflation. Such an outcome contradicts simplistic monetarist or quantity theories of money.
A follow up to my MM post yesterday:
ReplyDeletehttp://www.nakedcapitalism.com/2011/05/on-the-treasurys-curious-denial-that-geithner-blocked-deal-on-irish-debt.html
Manny - love it!
ReplyDeleteAhem. Notice the statement. It does not say that Geithner was against the restructuring, merely that his opposition made no difference.
Typical.
And then there's this.
ReplyDeleteCoreLogic: House Prices declined 1.5% in March, Prices now 4.6% below 2009 Lows
Rally on Garth!
Meanwhile, in the real world, the slow slide (although not so slow anymore) continues....
ReplyDeletehttp://www.calculatedriskblog.com/2011/05/corelogic-house-prices-declined-15-in.html
Am hearing that at the rate the banks are letting these foreclosed homes come onto the market, we won't be through this until around 2015 or so. I hope that's not true because that likely means more price decreases ahead.
You just beat me to it, Thor! LOL.
ReplyDeleteYikes. This graph says it all. Going DOWN, DOWN, DOWN. All the tax credits did was stem the tide a bit so that the banks could buy time to rebuild their balance sheets, and still pay big bonuses to executives and their senior staff, of course.
ReplyDeletehttp://cr4re.com/charts/charts.html?Home-Prices#category=Home-Prices&chart=CoreLogicHPIMarch2011.jpg
We may ultimately bottom at '00 levels (I know some cities are already there or worse) nationally, but the problem is that could take YEARS to play out. In the meantime, those who made big money and/or got bailed out by the Global Sheeple are buying stocks and other risk assets (commodities) with their largesse. Let the good times roll.
ReplyDeleteManny,
ReplyDeleteThe Money party knows that it has to lie, or obfuscate, window dress the unacceptable, and misdirect our attention in order to control policy in this country. And the job has been very successful.
Think of the birthers! Fully 50% of Republicans bought that lie, and still 25% do even after seeing the birth certificate.
If they told the unvarnished truth then they would have the support of about the top 10% of the US.
So to entice special groups they have decided to adopt the ideas of the groups that they need as voters, pro-guns, pro-life, patriots, anti-gay, racists, anti-muslims, etc.
The biggest difference now is that they have the ability via tv, radio and the internet to repeat the lies over and over so that people start to think that there is something to the lies.
I often wonder how far this nation will go to the right before we fall off the cliff.
They just tried to destroy Medicare and some, not all, but some of the brainwashed sheeple, said "hey, not so fast".
Is it too late to go back?
@Denise,
ReplyDeleteThanks for your 10:52 and 11:14.
Re your 11:16 - wheat prices - There is no shortage of wheat! In India, my relatives tell me there is no place to store. They just had a bumper crop. Farmers sell their crop at a minimum price set by the govt. The last resort buyer is govt. So much wheat is rotting in the open from last year, it's incredible - millions of tons.
Shortages of labour, wage inflation, gas prices are all up.
ICan
Manny - I think SF and LA are both very close to 00' levels, if not beyond it.
ReplyDeleteNow here's a guy talking his book and I would bet against him:
ReplyDeleteBank of America Stakes Billions on Housing Gains
At Bank of America Corp. (BAC), where the company’s home-price forecasts have proved too good to be true, billions of dollars of new losses are at stake along with the credibility of Chief Executive Officer Brian T. Moynihan.
The 51-year-old Moynihan, who succeeded Kenneth D. Lewis in 2010 after the worst housing market since the Depression, has tied his firm’s performance to a recovery in home prices this year -- a prediction more optimistic than one made by the bank’s own economist. Underestimating the slump in U.S. real estate led to $3 billion of expenses in the past two quarters, and Bank of America said it may suffer $1.5 billion in losses for every four percentage points that declines exceed forecasts.
We bailed out these banks!
ReplyDeleteGoldman Traders Lost Money One Day in Quarter
GS, the U.S. bank that makes more than half its revenue from trading, lost money in that business on one day during the first quarter, its best record since posting zero days of losses a year ago.
Denise - there's a part of me, a small part now, but getting larger, that believes that a lot of the work that's been going on in the financial blogs, ie; explaining to the Sheeple how things really work, and what's really going on, is starting to filter up to the MSM.
ReplyDeleteThe Ryan Budget is a good example of this, Large corporations not paying taxes, wealthy people creating jobs from tax cuts, Boner's recent statement that 2 trillion will need to be cut from the budget in order to raise the debt ceiling are all good examples of this.
I really hate predicting things because I know how foolish it is, but I think both the debt ceiling and 2012 budget fights are going to expose the Right wing in this country for what it really is, the henchmen of the global elite.
Of course that does nothing at all the improve the reputation of the Democratic Party, in my view they're only marginally less dangerous than the R's.
I think we'll go pretty far off before we "fall off the cliff", Denise, but when we do, it will seemingly come out of nowhere for a lot of people, I'm afraid. And it will be a vicious fall for many. That's when we'll likely lurch back left in response. As a nation, we haven't learned our lesson yet, so onward we continue....
ReplyDelete@Denise: If the game weren't rigged, would that even be possible quarter after quarter after quarter? I mean, seriously?
ReplyDeleteLong live "free market capitalism", Denise!! What's next, the Global Sheeple celebrating not only it's own demise, but Goldman's success like they're "our team" or something? Maybe Goldman needs to buy a sports team or something and then we can root for their team too?
ReplyDeleteAgreed, Thor, but nationally we're not there yet. Place like AZ, FL, CA and others are at '98 levels or worse.
ReplyDeleteAgree with Manny, I think we swing to the right for a few more years. The snap back, when it comes, is going to be something to see. And remember, there is a very good chance that the farther to the right we swing, the harder, and farther to the left we will swing.
ReplyDeleteHigh comedy in today's local paper. Here in MN, our fearless leaders want to build a stadium for the Vikings, but make THEM kick in $400MM, while the state kicks in $300MM, and Minneapolis kicks in $150MM. The Vikings response? A classic. They don't like the deal because the're on the hook for "too much money". Unreal. We have the will to give handouts to these jackals to build their toys that make them even richer, while our potholes all over the city go unfixed. Our roads are a joke at this point. Potholes everywhere and none of them are being fixed, but they can force taxpayers to pony up over $450MM for bread & circuses, while our cars take a beating. Have we gone completely nuts? I dub thee Pawlently Potholes or T-Pawt holes.
ReplyDeleteManny,
ReplyDeleteI wish that I were as optimistic as you, but as the push to end Medicare as we know it was being advertised as a way to save the country, I don't know.
You know that the other meme that has now been implanted in young people's brains by the right is that Social Security and Medicare will not be there for them, so why pay for it now? Again, the brain washing has served it's purpose, get enough voters to think that they are paying for something they will never receive (all of those boomers who now somehow are to blame for every facet of the world economic crisis) and let those greedy boomers pay for their own damn retirement and medical costs.
38% of Americans want to reduce or eliminate SS and Medicare.
If all the TBTF's are making all this money trading, then who's on the other side of those trades? Global Sheeple, perhaps?
ReplyDeleteI'm NOT optimistic at all, Denise, actually. LOL. But here's the thing - it WILL get MUCH uglier before it gets better, but eventually after a long wandering in the poverty wilderness, it WILL snap back. It will just take a long time to do so.
ReplyDeleteManny,
ReplyDeleteBlame the money party, again. The owners of these sport's teams, whose net worth is in the billions want the public to build them stadiums. Because it brings business to the city.
It happens over and over again in America. We pony up hundreds of millions, collectively, billions to those poor billionaires, so they can charge $75 a seat and $5.00 for a hot dog.
It is socialism at it's finest, but nobody calls it that.
But in this case, the public pays twice, once for the stadium and again for the over priced "entertainment".
And the owners get even richer.
@dss,
ReplyDeleteYour 12:36
Transfer of wealth.
Several weeks ago they said sell oil and then Friday they said buy!
Oil is up again.
Land speculation in India is gone wild again. I wonder what will happen when speculators leave the building.
Few days ago I read there was dispute over some land near my state's capital.
1 acre of land = $30 million. That's million CAD. It was 14 acres. Some MLA is involved in shielding crooks who sold the land despite a "stay" from the courts.
ICan
ICAN - Land speculation in China as well, was talking to a co-worker who's family is from Hong Kong, he was telling me that speculation in the property market there by mainland Chinese is extreme.
ReplyDeleteYou nailed it, Denise. But they cloak it in "free market capitalism" and being "good businessmen". Classic Orwellian doublespeak. It works. Like I've said before, TPTB aren't necessarily against "socialism" per se, but they ARE against the largesse going to the masses. They want it to go to THEM and think THEY deserve it and have EARNED it. That's the real "entitlement" class right there.
ReplyDeleteAnd then they STILL have the audacity to complain whenever the topic of raising taxes on them comes up to somehow give back to the communities that have supported them all these years. Heck no, we're not paying MORE in taxes, we EARNED all of our riches. It's downright comical and tragic at the same time.
ReplyDeleteManny,
ReplyDeleteYou forget that poor people beaten down by poverty usually have one way to change the system, revolution. Especially given the mentality in this country as espoused by the poorest states in the south.
We have been brainwashed as a nation to think that tax cuts for the rich are good, the rich will then create jobs.
We have been brainwashed as a nation to think that all government is incompetent, unnecessary, and corrupt and therefore needs to be eliminated.
We have been brainwashed to think that all government regulation is foolish and unnecessary.
We have been brainwashed to think that a single-payer system is socialism and that all other country's systems have much worse outcomes than ours.
We have been brainwashed to think that raising the minimum wage kills jobs.
The list goes on and on. The right has done a great job of making sure their message has been implanted in the brains of Americans and it is scary to see the constant parroting of extreme right wing memes from normally sane people.
If we can retrain all of these brainwashed people then maybe things will change, hunger, poverty and misery might be the only way we can change these people's minds.
I'm seeing some strange things in the secondary ticket market lately though that tells me sports teams have finally priced out far too many of its customers. I think their day of reckoning is coming too. Could take a while becaus of the emotional, irrational attachment that we as a culture have with big-time sports.
ReplyDeleteGood points, Denise. Perhaps it's going to take a whole new generation or generations to change that mindset, hence my claim that it's going to take a long time to play out? And it will be ugly.
ReplyDeleteAnd I have to make the distinction of the fate American companies, especially the multinationals, that are doing just fine, and that of everyday Americans who are not doing well.
ReplyDeleteManny,
ReplyDeleteI have the same problem with college sports. Because the business of so many colleges is sports these days, not education, many undeserving athletes get full ride scholarships to universities when they don't have the grades.
We had a view into that racket when the college selections for my daughter's high school class were revealed, and how many got into schools with full scholarship packages that my daughter could not have gotten into even though she had better grades, scores and class rank.
We now put a higher priority to recruit the best athletes rather than the best students.
Meanwhile, "food insecurity" creeps into the Middle class:
ReplyDeletehttp://usat.ly/kJms5E
Are Stockholm Syndrome and a dash of self loathing (and self blame) big reasons for the absent of any real outrage at how we got to this point?
@Denise: They should just pay those kids and be done with it. Pay them a lesser wage than the "pro" leagues and call them what they are - a pro feeder system or minor league system. Just pay the kids, especially the ones that are bringing in serious dough for the schools (and head coaches).
ReplyDeleteManny,
ReplyDeleteI agree. But so much of our national sport's mania is based upon college teams. They have to pretend that they are there for education but really it is to generate income and prestige for the schools. Sure it is fun to watch, but for many schools, the sport's teams ARE what makes the school's reputation. Case in point, what would Notre Dame be without it's sport's teams?
At this point I do not think that they can be separated.
@Thor,
ReplyDeleteYour 12:57.
With hot moneyflows into the property market, comes fear. Lawsuits, murders, familyrifts, and outright stealing with political/mafia/police protection. Lot of headache forsure. LOT!
I hoped that property prices would go up slow and steady and people would have time to adjust.
Not everyone likes speculation.
ICan
Wolfie - Another one for you, only not what you'd expect from and Apple Fanboy. ;-)
ReplyDeleteMeet The Workers Who Make Your iPad: 100 Hours Of Overtime, No-Suicide Pacts, Standing For 14 Hours A Day
"Wheat prices rise on weather worries" - CBC.ca.
ReplyDeleteYeah sure! How about wheat prices rise on too much credit.
ICan
Can you imagine if Senator Clueless had won the election?
ReplyDelete"Back in March, Sen. John McCain (R-AZ) astoundingly claimed that the iPad and iPhone are “built in the United States of America.” This news must have been a great surprise to the Chinese workers who work for Taiwanese-based manufacturing giant Foxconn, which is notorious for the poor conditions at its factories and the wave of suicides at its plants."
Wow Thor. That is absolutely insane. The ugly side of capitalism that nobody really wants to acknowledge. The only real way to make big bucks is to exploit other large groups. If we're fine with that, then OK, but let's stop pretending otherwise. The biggest example of this was our slave-based economic system. Now we just export slave wage jobs to other countries.
ReplyDelete@Denise: Senator Clueless would have likely bombed Iran by now and NOT captured Osama.
ReplyDeleteManny,
ReplyDeleteYes. God only knows what wars we would have been in given McCains's war mongering mentality.
Boy, is this a surprise or what? Duh.
ReplyDeleteTrump Collapses in GOP Primary Polls
Trump's drop in support could be related in part to a sharp drop in the number of Republican "birthers," as measured by PPP, since President Obama released his long-form birth certificate to the public. In the new poll, 48 percent of Republicans said they believed Obama was born in the United States and 32 percent said that he was not. In a February PPP poll, the firm's most recent poll on the subject conducted before the birth certificate release, only 28 percent said he was born in the US while a 51 percent majority said that he was not.
What is not shocking to me is the number of Republicans who STILL think Obama is a fake citizen, even though his mother was a US citizen which makes him automatically a citizen.
Manny,
ReplyDeleteIraq would have been bombed his first day in office, if his rhetoric is to be believed.
And especially since we don't bother with the quaint courtesy of asking congress to approve war anymore. And we could fund it the same way we are funding the other wars, off balance sheet, war appropriations.
LOL Denise. The party of unreality rages on. Just incredible stuff. And these people are usually having multiple offspring and passing along these same idiotic traits. Have those "efforts" gotten us to this point? Is the "Idiocracy" officially upon us?
ReplyDeleteI would also bet that those 32% are by and large the very same folks who still believe "W" did a bang up job, largely because he's a devout "Christian", like them.
ReplyDeleteMarket breaking out to the upside, Euro and crude both higher.
ReplyDeleteLooks like we are going to test the highs of 5/1/11.
I'm actually kinda glad Congress isn't approving wars anymore. They haven't done a very good job of keeping us out of, or ending, the three we're in now!
ReplyDeleteOnly half joking of course. . . .
oil back up to 103 - Haaaaaappy days are here agaaaaaaaaaaaaaain. BLECH
ReplyDeleteAnalysts not liking the Microsoft/Skype Merger.
ReplyDeleteCan't wait to see how badly MS screws up the application suite.
When we move from dating to marriage, we take a big leap in our level of commitment to the other person, we are required to stand in front of witnesses as we make a promise to our partner.
ReplyDeleteBy getting married we take an oath to the other person and we go from being obligated to being duty bound.
If someone saw me in public with another woman and told my wife, she would have good cause to believe I was cheating and should question me on it. If I explain to her that was my cousin Betty who was traveling through the area and wanted to stop and say hi and I could back it up, then any other issues my wife has are hers to deal with.
If however my cousin Betty was traveling through and someone saw us in public and told my wife and she questioned me about it and I said “Oh so you don’t trust me” or “It is none of your business” or in any other way choose not to answer her question, now the issue becomes mine.
The longer I put off giving her a straight answer the more guilty I look and it starts to impact our household, the longer I take to answer the question, the more it impacts our children, family and friends and it will eventually erode her trust in me.
Oh I may be innocent of cheating, but I am certainly not innocent of doing irreparable harm to a marriage I swore to respect.
Upon taking the Oath of Office Barak Obama promised to uphold the Constitution of The United States, part of that constitution states he most be a natural born citizen.
Was he was born in Hawaii? I believe he was.
Did the people like Donald Trump handle the questions regarding his birth certificate constructively, certainly not. But they had the right to ask and Barak had the duty to answer. If Barak would have shown what he was required to, 2+ years ago, then any unresolved issues would have fallen on the shoulders of the “Birthers”.
But Barak choose not to answer and every day that passed only caused more and more mis-trust and allowing that mis-trust to fester falls squarely on Barak’s shoulders.
Do Donald Trump and the “Birthers” look foolish now that one has FINALLY been produced yes they do, but it only goes to prove, never get into a mud throwing contest with a person who is sitting on top of a mud pile.
Mangy Mutt
@Denise,2:43PM: well said. Same opinion here.
ReplyDeleteGame over (again) for the bears this round. Congratz to the bull. At least for some more days..
I was referring to the break above 1350 and then 1355 mainly. Significant levels, broken today with no sign of weakness in the 10 minutes charts.
ReplyDeleteJust my 2 cents again: I think traders can play the break on the long side, with fair confidence. We're in for some further gains in the markets.
ReplyDeleteNote that I'm talking about "traders", a little bit "aggressive" ones what's more. Not "investors", of course.
Mutt,
ReplyDeleteI think that your knowledge of the facts surrounding Obama's birth certificate is incomplete and does not represent the whole truth of the matter.
Born in the U.S.A.
August 21, 2008
Updated: November 1, 2008
The truth about Obama's birth certificate.
We beg to differ. FactCheck.org staffers have now seen, touched, examined and photographed the original birth certificate. We conclude that it meets all of the requirements from the State Department for proving U.S. citizenship. Claims that the document lacks a raised seal or a signature are false. We have posted high-resolution photographs of the document as "supporting documents" to this article. Our conclusion: Obama was born in the U.S.A. just as he has always said.
Update, Nov. 1: The director of Hawaii’s Department of Health confirmed Oct. 31 that Obama was born in Honolulu.
There is much more at the website.
@Thor,2:05PM: Thanks for bringing the "made by slaves" topic. We often tend to forget where all our shiny toys come from. Of course, I could dig the same kind of stuff for HTC, or any tech maker on earth.
ReplyDeleteI think that it illustrates how successful Obama's enemies were at distributing to the population at large, and the media that Obama was not a natural born citizen, despite assurances from many sources including the State of Hawaii that he was indeed born there.
ReplyDeleteNot to mention he is a natural born citizen by the simple fact that his mother was a natural born citizen.
The question of his birth was asked and answered many times prior to his release of his long form certificate. And for fully 25% of the population this is not enough evidence, they would not believe the was an American citizen even if they witnessed the birth itself.
Obama answered those questions, the State of Hawaii answered those questions, yet it was not good enough, and still isn't good enough for millions of people.
It is one thing to criticize Obama for his governing, but quite another thing to criticize him for being forthright years ago.
The festering mistrust was and still is being promoted by his enemies and just like Clinton was hounded for his entire presidency, Obama will be, too.
The game is to destroy his credibility and also undermine at every opportunity his ability to govern.
They beat the birther thing into the ground so now I look for them to resurrect the Muslim meme. And if it isn't that it will some other shit they decide to throw at him.
Just my 2 cents.
I also think that although people have every RIGHT to question Obama's or anyone's birth origins (or anything else for that matter), why weren't similar inquiries made about other past presidents? I'll tell you why. It's a dog whistle for those latent and not so latent racists who wish to delegitimize Obama at every turn as somehow being "unAmerican". It's the old "show me your papers" routine. These are people who think Obama, as a black man is being "uppity" and believes that he''s "better than them", which, of course, in their eyes, he has no right to believe, much less become president of the USofA. Just my two cents. Why else is a big deal being made of it? There's nothing new under the sun. Only only tactics re-packaged and spit-polished, and then re-introduced to the masses.
ReplyDeleteExactly Wolfie, and when the rest of the world kind of accepts it, it's very difficult to go against the grain for many reasons.
ReplyDeleteWolfie,
ReplyDeleteThe raising of the margin rates for oil should have been enough for a rally but it came late in the day. Plus the 3 year auction was today, too.
I believe that they will continue to keep raising margin rates to break the back of the speculators. The fact that oil rose despite the margin increases is very interesting, but it is still considerably off it's highs.
This price action, (test of the break out area), and now rallying is bullish, but still suspect until it totally takes out 5/1.
ReplyDeleteManny,
ReplyDeleteMcCain was born on in Panama, I assume in the Canal Zone. Why wasn't he asked for his birth certificate? At least Hawaii was a state.
There you go, Denise. A PERFECT illustration of what we're talking about here. I think it's obvious why he's never been asked about this issue, no?
ReplyDeleteI remember discussing this already on this blog, maybe in the exact same words as what I'm writing here. Anyway: I second Manny @2:20PM :"The ugly side of capitalism that nobody really wants to acknowledge. The only real way to make big bucks is to exploit other large groups. If we're fine with that, then OK, but let's stop pretending otherwise."
ReplyDeleteThe hypocrisy around this disturbing situation is just as disgusting as the situation itself. We the consumers in the West are not innocent.
Obviously, as mentioned by Manny, we know a good part of our purchasing power relies on the exploitation of foreign workers. Many of us could not have bought ourselves the tenth of all of our current belongings, if not for the cheap prices enabled by those low working conditions abroad.
No one is innocent.
@Denise, re oil margins/markets: thanks for the insights. Let's see how it fares then.
ReplyDeleteGotta go. Have a great evening and a good night for Rock, who's obviously not reading these lines currently, since he doesn't have an Internet connection in his dreams (yet).
ReplyDeleteI almost spit up my afternoon snack when I saw this one. Is Matt Bai or Newt really serious with this horseshit? I mean, really.....
ReplyDelete"Newt Gingrich believes great leaders have to leave their kingdoms, better themselves and return as heroes."
My revised edition:
"Newt Gingrich believes delusional egomaniacs have to cheat on their wives twice (once when she was seriously ill) leave both fo them, and marry younger, prettier ones each time."
http://thecaucus.blogs.nytimes.com/2011/05/10/gingrich-run-reflects-his-sense-of-history/?hp
He makes Senator Bitter Grumpy Pants in AZ look sane and humble in comparison.
Exactly my point, Wolfie, which is why we prefer to have these dirty deeds out of sight. It means for many it's out of mind too. Until it's not, of course.
ReplyDeleteDenise – You are most certainly correct, if for no other reason his mother was an American Citizen when Barak was born, so the rest of it becomes window dressing.
ReplyDeleteI have not followed the Birth Certificate story very closely and was under the impression that Barak FINALLY produced a copy – Which in my opinion would have made him the King Mud thrower.
A bar for what the requirements would be to be born a U.S. Citizen was set and by the fact that his mother was a U.S. Citizen means Barak cleared the bar.
Which then means the “Birthers” are in the wrong for not letting in drop.
Thank you for pointing that out.
Mutt
Wolfie,
ReplyDeleteThat is the definition of capitalism, one group that exploits another.
Mannwich (4:28) - I have not followed the Birth Certificate story closely, but yesterday I was reading the paper and a black editor (I know he is black cuz he had his picture up) Was saying that even though Barak has finally produced his birth certificate the fact that the "Birthers" continue to push the issue, proves that they are making an issue out of it for racist motives.
ReplyDeleteThen after reading Denises 2:25 "since President Obama released his long-form birth certificate to the public." I was further under the impression that Barak FINALLY released his birth certificate, which in my opinion would have made him the more guilty party.
And I drew exception at someone (not you Denise) saying I (or anyone else) was racist because of something Barak should have produced 2+ years ago.
But since in the end his mother was American and he was born on American soil, the whole point is rather moot.
Sheesh – This makes stuff makes Jerry Springer look tame.
Mutt
Manny - I've often wondered what Gingrich is up to - he has to know there no chance of him every becoming president. Is this a Palin/Trump publicity stunt to keep his name in the headlines?
ReplyDeleteMutt,
ReplyDeleteThe point of the article was that he did produce his birth certificate in 2008, it was verified by FactCheck.org, and the state of Hawaii.
Those who said he never produced his birth certificate and that there were "questions" (Trump, Orly Taitz, most of the GOP in congress) were either lying for political purposes or at best, misinformed.
No, Mutt, I do not believe you are a racist what so ever. Most people do not know that he already produced his birth certificate during the campaign.
But I think what many have been saying was that some of those who still do not believe may be racially motivated.
Thor,
ReplyDeleteGingrich is a fame whore. People pay attention to him because he puts himself out there again. I am sure he craves the limelight especially since he left the Speakership in disgrace.
"and polarizing figure in the national public's eye, making him a target for Democratic congressional candidates across the nation. His national approval rating was 45% in April 1998, although his local approval was undiminished, and was reelected to his seat.[69]
Republicans lost five seats in the House in the 1998 midterm elections—the worst performance in 64 years for a party that didn't hold the presidency. Polls showed that Gingrich and the Republican Party's attempt to remove President Clinton from office was widely unpopular among Americans.[70]
Gingrich suffered much of the blame for the election loss. Facing another rebellion in the Republican caucus, he announced on November 6, 1998 that he would not only stand down as Speaker, but would leave the House as well. He had been handily reelected to an 11th term in that election, but declined to take his seat. Commenting on his departure, Gingrich said, "I'm willing to lead but I'm not willing to preside over people who are cannibals. My only fear would be that if I tried to stay, it would just overshadow whoever my successor is."[71]"
From the wiki
Plus then there was Bob Livingston, who also left in disgrace over extra marital affairs:
ReplyDeleteRobert Linlithgow "Bob" Livingston Jr. (born April 30, 1943) is a Washington, D.C.-based lobbyist and a former Republican U.S. Representative from Louisiana. He was Chairman of the Appropriations Committee from 1995-99, and he was chosen as Newt Gingrich's successor as Speaker of the United States House of Representatives late in 1998, but chose instead to withdraw and retire after extramarital affairs of his were discovered.
The more things change, the more they remain the same. (Ensign of Nevada having his parents pay off his mistress)
ReplyDeleteFrom Reuters:
ReplyDeleteJim Rogers may short Treasuries: this afternoon
Influential investment veteran Jim Rogers said on Tuesday he plans to short U.S. Treasuries as soon as this afternoon as he expects the end of quantitative easing to pressure government bonds.
PIMCO raises bet against U.S. government debt
ReplyDeletePIMCO's Bill Gross, the manager of the world's largest bond fund, raised his bet against U.S. government-related debt in April to 4 percent from 3 percent, according to the company's website on Monday.
The increase, albeit small, follows Gross' move to ratchet up his bearishness in March by taking his initial short position in U.S. government-related debt, which includes Treasuries, TIPS, agencies, interest rate swaps, Treasury futures and options and FDIC-guaranteed corporate securities.
The $240 billion Total Return fund also raised its cash position to 37 percent in April from 31 percent in March, added Pacific Investment Management Co, which oversees $1.2 trillion in assets.
Emmy - Just now finding the time to read your link fest - the three China articles are VERY good, especially the last one.
ReplyDeleteHighly recommend it if anyone hasn't read it yet.
http://www.ft.com/cms/s/0/44351852-75b5-11e0-80d5-00144feabdc0.html#axzz1Lb9L97kV
Thor,
ReplyDeleteBest linkfest ever!
Now today it is hotter than hell here. I have the air on! Two days ago I had the heat on to take the chill off.
91 degrees outside.
ReplyDeleteCertainly not calling you a "racist" either, Mutt, but it's hardly a secret that many people are finding all sorts of fake reasons (basically every fake reason they can find) to attack Obama due to underlying racist motives. Do you believe that not to be the case? If so, what other motives do they have to continue doing this other than they are essentially just being venal, dishonest, ignorant, stupid, or all of the above?
ReplyDelete87 here and downright hot. Summer has arrived. For a couple of days anyway. Pretty amazing. All of a sudden too. This is often how it happens here though. We're back to barely 60 by Thursday, I think.
ReplyDelete*sigh* 64 here :-(
ReplyDeleteThor,
ReplyDeleteI would think that Gingrich's strategy is to let everyone flame out and then offer himself as the real conservative alternative to Romney.
There is no way Gingrich could ever beat Obama.
Mannwich - In my case it was due to ignorance.
ReplyDeleteI tend not to follow what I have no control over, so have paid sparse attention to the Birth Certificate thing.
But yesterday when I read the head line that said (Something to the effect) Birthers Motivated By Racisim, then read the article and the article DID NOT mention his mother was an American Citizen (Which I should have connected the dots on a long time ago) and the article DID NOT mention he had provided an actual copy of it in 2008.
After understanding his mother was an American and he was born on U.S. Soil the rest of the birth certificate talking points become a non-issues.
Mutt
Mutt - it's pretty cold up your way too isn't it? I think this cold weather we're getting is coming from due North. I've had to turn the damn heater on again, it's MAY!
ReplyDeleteMutt,
ReplyDeleteSo many people really don't follow the sensational stories and the media had reasons to keep the story going by legitimizing the birthers as if they had real evidence he was not a citizen. I blame the media and the politicians for such a sideshow when we have so much more important stuff going on.
Like Obama said the day before the Osama killing, "I have better things to do".
It's good that you don't follow that nonsense. I hadn't either until it became hard not to notice idiot media whore Trump's blathering on and on appearing everywhere.
ReplyDeleteExactly Denise. The MSM whores, as usual, are largely responsible for fanning the flames of nonsensical non-issues like these. Info-tainment at it's worst. It's easy and cheap to "report" on such non-issues and it eventually gets enough peoples' attention to justify their minimal efforts on it.
ReplyDeleteManny,
ReplyDeleteRepeat something enough times and people start believing it, no matter how preposterous. Fox News learned that lesson long ago.
Speaking of fear - what is with this Sharia Law nonsense? FIFTEEN states are passing laws to ban it? I wasn't aware the US Justice system was on the verge of implementing sharia law. For that matter, I didn't realize there were that many Muslims in places like Oklahoma and Tennessee...
ReplyDeleteThor - Has it been cold up this way?
ReplyDeleteSince about October of 2010 we have only had one day above 70 degrees.
Two weekends ago it got up to like 71 degrees and all the rain is getting kind of tiresome too.
Oh well at least we have the story of Barak's birth certificate to keep our hearts warm :)
Mutt
Mutt - Ugh, ok, I'll quit bitching about 64 then :-)
ReplyDeleteHottest day on record today for May 10.
ReplyDeleteDenise - I feel so, so bad that you had to have such a nice day :p
ReplyDeleteMutt
Mutt,
ReplyDeleteWe wait 7 months to get a nice day and it is 91.
It actually was nice but too hot too fast. This old body doesn't adjust so well anymore.