The reason why the stock market is rebounding so quickly is because the recesison was fake. Same for the credit crunch. That's why Apple, google, bidu, hong kon, brazil, china, goldman, and many other countries and companies have surging revenue. Only few sectors have been hit. How can you have a credit crunch when Visa and mastercard have huge revenue growth? hmmm? How can you have a recession when millions of people are still logging into facebook, myspace, and twitter? No recession in silicon valley and web 2.0./. Colleges are packed with people trying to get ahead in a rigged economy. That's where the economic growth is. I agree that job loss is not a big deal because only the inefficient, redundant, useless jobs are being shed. High unemployment is good for stock market and economy. Employment is waaay overrated, anyway when you can make tons of money buying tech stocks and BRCI etfs. In a knowledge based, web 2.0, consumerist, globalist economy high unemployment is a positive. That's the new normal. In fact, people should be encouraged to quit their jobs voluntarily to make the stock market go up, and the economic recovery V shaped. The mental recession is over.
Note: fkbsuhites analytical skills are poorer than most people on this site so i would not take anything he has to say seriously. In this thread, http://www.elitetrader.com/vb/showthread.php?s=&postid=2509134#post2509134 he first accused me of being a paper trader, then when i asked if he wanted to compare blotters once he saw mine he didnt post his, then he accused me of being a Bush lover, (i hate bush) then he accused me of being a credit trader, while my net is lower than my gross, then said i live in a trailer, then simply falsified my blotter and added a zero to it to try and prove he makes money in the market. Then after proving him to be a comlpete and utter loser he resorted to calling my mother a whore, this guy is definately a class act.
I cant wait for the the market to collapse so that dennis kneale can feel like the biggest idiot. I remember him yelling to buy stocks well above dow 10k before the collapse in our economy. Mr. Denninger is right on, dennis kneale looks like the fool. ame="type" value="application/x-shockwave-flash"/> <param name="allowfullscreen" value="true"/> <param name="allowscriptaccess" value="always"/> <param name="quality" value="best"/> <param name="scale" value="noscale" /> <param name="wmode" value="transparent"/> <param name="bgcolor" value="#000000"/> <param name="salign" value="lt"/> <param name="movie" value="http://plus.cnbc.com/rssvideosearch/action/player/id/1201848678/code/cnbcplayershare"/> <embed name="cnbcplayer" PLUGINSPAGE="http://www.macromedia.com/go/getflashplayer" allowfullscreen="true" allowscriptaccess="always" bgcolor="#000000" height="380" width="400" quality="best" wmode="transparent" scale="noscale" salign="lt" src="http://plus.cnbc.com/rssvideosearch/action/player/id/1201848678/code/cnbcplayershare" type="application/x-shockwave-flash" /> </object>
If i had a chance to punch any person of my choosing on EARTH it would be Dennis Kneale.... He has to be THE MOST obnoxious human being i have ever seen. He is asking Denninger wether or not he makes money trading stocks while he is a commentator, who has most likely never traded a stock in his life, never ceases to amaze me when pikers/people who dont trade for a living talk down to real traders. I cant believe Denninger never called him out on it. Dennis Kneale is one of those people who just likes to hear the sound of his own voice. Interesting article when you google "Dennis Kneale Obnoxious" UNDERSTANDING DENNIS KNEALE Posted by Bess Levin, Jul 22, 2009, 4:26pm http://dealbreaker.com/2009/07/understanding-dennis-kneale.php Ever watch CNBC, previously around around lunch (before he was put on what appears to be a permanent time-out) or, for reasons you cannot explain, past 8PM and wonder what happened to this bespectacled fellow, screeching about the recession being over and "digital dickweeds" and god knows what else and thought, what happened to this guy in childhood, or adolescence, or a previous life that made him the way he is today? It has to have been something horrific, right? You can't just be born like this, can you? It turns out the answers are yes and yes. In a NYO profile of Kneale, we find out a whole bunch of stuff about DK, including the fact that his father that his father was hit by a car and killed, when Dennis was 14 years-old. The tragedy changed a young Kneale, who became "more outgoing and pugnacious." A bully, basically. A nerdy, nerdy bully. "When [a sudden death] happens, you're like, well, fuck," Kneale says. "There's nothing you can do anymore that's going to even come close to that. It's like, 'Bring it on. What have you got?'" Other things we've learned about DK today: * His mother always told him, "Don't say something if you can't say it to somebody's face." She probably meant something more along the lines of what most mothers tell their children, i.e. if you don't have anything nice to say, don't say it at all, but Dennis interpreted Mother Kneale's words to mean if you're in front of them, or they can see your lips moving through the tube, fire away. * DK very much took this bit of wisdom to heart, which I guess would explain the rationale of being proud, decades later, of the fact that he wrote a scathing take-down of his high school's chorus concert with his own by-line. "I wrote the mean review on the record," said Kneale. "Not anonymously."
Dennis kneale told all to buy stocks every 1000 pts down from 14k to 6k. he's admited this many times that he was dead wrong so why should we listen to him?if i was that wrong as a trader i don't get a second chance so why should he?