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Bonkers

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Re: Next Stop Dow 11111
« Reply #45 on: July 01, 2008, 03:41:59 PM »
Quote:

SwitcherX said:
Quote:

Bonkers said:
Like they say the stock market is nothing but a gambling casino and the rich own the house and make the rules.


Yes, How true you are Switcher... But they have the edge, which they can make and break a stock
Bonkers
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Bonkers

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Re: Next Stop Dow 11111
« Reply #46 on: July 01, 2008, 03:51:16 PM »
With the Oil still at 140+ a barrel. I just check on General Motors to see it was at $11.24, their worst in 33 years and Ford at $4.6 and just forget about all the airline carriers they all under five dollars a stock.
Something has a break and I hopes it's not the world economy.  
Bonkers  
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mastert

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Re: Next Stop Dow 11111
« Reply #47 on: July 01, 2008, 07:08:23 PM »
I saw somebody sane on CNBC. I don't know what he did, all I know is he's a well respected stock market billionaire (not Warren Buffett). What he said made a lot of sense. He said that the amount of oil on the market has not changed the last 2 years, so all these "shortages" that has the market going crazy are unfounded. Since real estate was through the roof 3 years ago, now oil is doing the same thing he beleived there's a bubble and once all this crazyness in the real estate market and banks calms down, the bubble should burst on oil too. It won't go down to $30 a barrel, but it won't be $150.

On a side note, I think it's good oil is high. People aren't as quick to waste it on gas guzzling SUVs (to quell some soccer mom's fear of driving) and it's fueling green technology which the USA is falling behind on as well.
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SwitcherX

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Re: Next Stop Dow 11111
« Reply #48 on: July 01, 2008, 09:16:35 PM »
Quote:

Bonkers said:
Quote:

SwitcherX said:
Quote:

Bonkers said:
Like they say the stock market is nothing but a gambling casino and the rich own the house and make the rules.


Yes, How true you are Switcher... But they have the edge, which they can make and break a stock
Bonkers



I changed careers about a year and a half ago and became a commodities trader.  The only poeple that have an adge are people with insider information.  That's possible in stocks.  In commodities it isn't since there is no inside information.
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Switcher X
A.K.A. Tina Fey Eichmann

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-- Mammeister

"SwitcherX, you were always Mammeister's favorite...you bastard."
-- Notty
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SwitcherX

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Re: Next Stop Dow 11111
« Reply #49 on: July 01, 2008, 09:20:46 PM »
Quote:

mastert said:
He said that the amount of oil on the market has not changed the last 2 years, so all these "shortages" that has the market going crazy are unfounded.



Actually there's so much oil in storage, if you sailed(?) an oil tanker full of oil from the middle east to the USA, you wouldn't be able to offload it.  All of the storage facilities are full.  The problem are the refineries.  A lot of them have been shut down lately.  Some oil traders are saying that it was to jack up the price of gas.

Also a lot of oil traders, and traders of other stuff, are waiting to see if Bush bombs Iran.
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Switcher X
A.K.A. Tina Fey Eichmann

"Thank you herr professor Tina Fey Eichmann, nuclear brain surgeon and moustache jockey."
-- Mammeister

"SwitcherX, you were always Mammeister's favorite...you bastard."
-- Notty
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pedonbio

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Re: Next Stop Dow 11111
« Reply #50 on: July 02, 2008, 01:45:05 AM »
Quote:

SwitcherX said:


Also a lot of oil traders, and traders of other stuff, are waiting to see if Bush bombs Iran.



Let me tell you a secret, Switcher: Either Bush can leave office next January leaving his political party in existence with a remote hope of again regaining power, or he can bomb Iran. He can't do both. At this point if he asked for a congressional resolution against Iran, he wouldn't get a majority of Republicans.

There are a handful of true believers, like Q_BE around, but Bush is considerably less popular than Old Tony was a year ago.
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Hiram

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Re: Next Stop Dow 11111
« Reply #51 on: July 02, 2008, 03:07:07 PM »
Quote:

SwitcherX said:Actually there's so much oil in storage

I've read that, but don't traders examine US inventory data.
Quote:

Bloomberg said July 2: -- Crude oil futures rose to a record above $143 a barrel in New York as the dollar weakened and a U.S. government report showed an unexpected decline in inventories.

Refineries are part of the problem, but one of the main things is instability in the world - that is where the oil futures come in.  People are hedging the supply being short in the future.  

Add the dollar exchange rate, and increased demand - and that's how we got here.

Edit: 11,215 today - getting very close.  I'm feeling even more bearish now.
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DruulEmpire

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Re: Next Stop Dow 11111
« Reply #52 on: July 02, 2008, 03:35:41 PM »
So, we have hit "Magna Carta plus 10,000."  I don't think it's much different from the intra-day low of a couple days ago -- but it is only a hundred points shy now.

If it gets any lower, I may have to decide at what point I will have to concede to mastert's suggestion.

Gotta say, tho, I haven't much use for all this comic talk of 111 or even 1111.  For this market to sink from 14164 to 1111 (that's just four ones, not five), it would have to be WORSE than the Depression -- and I would dare to suggest we've learned a thing or two since then, and have FDIC insurance in place besides.  It may not really be as much insurance as there's supposed to be, but at least there is some.  So I consider the first 2000 points pretty much rock solid.

For the market to hit 111, civilization would have to be all the way down to sitting around watching Mad Max get the guzzle-ine past the Humongous ...
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Hiram

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Re: Next Stop Dow 11111
« Reply #53 on: July 02, 2008, 04:00:51 PM »
Dow 1929 - 2008

 
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Hiram

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Re: Next Stop Dow 11111
« Reply #54 on: July 07, 2008, 03:03:59 PM »
Dow hit 11127 @ 2:07 EDT
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DruulEmpire

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Re: Next Stop Dow 11111
« Reply #55 on: July 07, 2008, 03:18:58 PM »
Thanks, Hiram -- I noticed it dip below 11200 earlier today, but I never caught how low.

By the by, it occurs to me to thank you for caring about something that isn't even a native concern of yours.  Across the pond you guys have the "Footsie," right?

But for today I'll just say WHEW! and stick to my guns.
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pedonbio

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Re: Next Stop Dow 11111
« Reply #56 on: July 07, 2008, 03:32:14 PM »
Hey, I'm just along for the ride
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Hiram

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Re: Next Stop Dow 11111
« Reply #57 on: July 07, 2008, 03:56:41 PM »
Quote:

DruulEmpire said:Across the pond you guys have the "Footsie," right?

Yeah we do - but I have indirect investments in US companies for sure, it matters to me how the Dow's fairs.  

Not only that, when the US catches  a cold, we all get one!
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pedonbio

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Re: Next Stop Dow 11111
« Reply #58 on: July 07, 2008, 04:51:59 PM »
Quote:

Hiram said:
Quote:

DruulEmpire said:Across the pond you guys have the "Footsie," right?

Yeah we do - but I have indirect investments in US companies for sure, it matters to me how the Dow's fairs.  

Not only that, when the US catches  a cold, we all get one!



Well, any serious investor in the U.S. has his foot in the water. Best investment I ever made was Burmah Oil back in the 1970s. Had to sell most of it for a divorce, to buy a house for a woman I didn't like. Great fuck, though.

Now I tinker with the Irish. Elan Pharma has treated me well.
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Bonkers

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Re: Next Stop Dow 11111
« Reply #59 on: July 07, 2008, 05:15:42 PM »
Quote:

Hiram said:
Quote:

DruulEmpire said:Across the pond you guys have the "Footsie," right?

Yeah we do - but I have indirect investments in US companies for sure, it matters to me how the Dow's fairs.  

Not only that, when the US catches  a cold, we all get one!


By the way, Hiram.... How is the British stockmarket holding up?
Bonkers
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