stock market is gone!

Discussion in 'Stocks' started by bat1, Mar 19, 2008.

  1. bat1

    bat1

    it's dead nothing will keep it up
    maybe next year
     
  2. You do realize that if you look long term like on a 5yr 1month chart very few of the equities or indicies have broken a 50 period SMA yet and almost none have broken the 200 SMA?
     
  3. worst. thread. ever.
     
  4. Fundamental analysts, for the most part are just plain worthless. But occasional, things become so clear, that you don't need a calculator.

    As of Friday nite, BSC was insolvent. It had 600mm on the books at 33:1 leverage. I know of some fails to deliver that were jettisoned that week now looking for a home, but the stuff that stayed was toxic. If it hit the street, it would have marked down the assets the other nitwits owned, spirally our entire capital markets into lockdown, as in vapor lock down.

    Btw, if you don't believe the fails to deliver, why would Dimon be "shocked" per the London Telegraph at what he saw? It was all the same stuff in subprime. He would have been familar with it. BTW, the rate being offered to illegally hide the fails is 12% for 90 days. Not annualized, 12 %. So you see, there are other shoes to drop.

    Anyway, when is the last time you saw the Government get involved in something and make it better? Nobody is that old.

    We are in deep stuff. I dont' know when we fall apart, but we will. Has to be. As long as CNBC is calling bottoms, we're not there.

    The big tell will be when Cramer is totally disgraced as the tout he is.

    I've been around long enought to see financials in single digits. You've already got several. What makes you think they all don't work down there. It's as normal as life and death. To a time, a season, and this one is for losing.