Time for the weekend. KK’s opens. Stop by and welcome the ladies to the ‘hood if you are in the area. I would hope that the City Council would stop by and speak, introduce themselves, as they would do any other store opening in the area.
I think everyone will be greatly relieve once the store opens and we see that no one has cloven hooves, horns or a tail.
Well, except for this young lady who is just in town for the weekend, getting ready for the big day in 2 weeks:
2010: The year of politicking insanely
By Eugene Robinson
Friday, October 15, 2010
I know that O’Donnell is likely to lose to Democrat Chris Coons. But until Election Day — at least — we’re supposed to take her seriously as the Republican candidate for the United States Senate. Sorry, but I just can’t do it anymore.
Nor can I pretend that Carl Paladino, the raging bull from Buffalo, is qualified by experience or temperament to be governor of New York. Or that Sharron Angle, whose small-government philosophy is so extreme as to be incoherent, could possibly make a worthwhile contribution as a senator. Or that Rich Iott, whose idea of weekend fun is putting on a Nazi SS uniform and gamboling through the woods, is remotely acceptable as a candidate for the House.
When has there been an election with so many looney tunes running under the banner of one of our major parties? It’s not that they are ultraconservative, or even that some of them believe their psychic powers let them know what the Founding Fathers would have thought about, say, stem-cell research. There are radical, small-government Republicans who are also intelligent and thoughtful. Paul Ryan of Wisconsin is an example.
It’s just that there is a difference between being smart but wrong and being O’Donnell.
http://www.washingtonpost.com/wp-dyn/content/article/2010/10/14/AR2010101405235.html?hpid=opinionsbox1
There sure are a lot of freakazoids in the Tea Party movement!
Speaking of qualifications and experience as being the main requirements for one to be elected for office, where does Obama fit in all this? The view is he’s the least experienced of all past presidents, so that sort goes with your philosophy that maybe he wasn’t the best candidate for the position. Putting on a uniform for the purpose of reenactments versus sitting in a church listening to hate speech for years, you pick the worst impact.
Obviously the people Starry named do not want less government. Each of them wants to make abortion illegal even in the case of rape and incest. That sounds like government intrusion at the most personal level, to me.
Obama isn’t up for election. He is President already. I bet you didn’t vote for him anyway.
He is the least experience based on what? What are we considering ‘experienced?’
SA, I don’t think you are in a position to say what the president listened to in church. I had my concerns about Rev. Wright also. However, I can’t begin to say what sermons Barack Obama listened to.
SA desperately wants to change the subject from the travelling side-circus freak show known as the Tea Party movement.
The fact of the matter is, as Moon stated, Obama’s not up for reelection. These are congressional elections looming.
From a Maine House, a National Foreclosure Freeze
By DAVID STREITFELD
Published: October 14, 2010
DENMARK, Me. — The house that set off the national furor over faulty foreclosures is blue-gray and weathered. The porch is piled with furniture and knickknacks awaiting the next yard sale. In the driveway is a busted pickup truck. No one who lives there is going anywhere anytime soon.
Nicolle Bradbury bought this house seven years ago for $75,000, a major step up from the trailer she had been living in with her family. But she lost her job and the $474 monthly mortgage payment became difficult, then impossible.
It should have been a routine foreclosure, with Mrs. Bradbury joining the anonymous millions quietly dispossessed since the recession began. But she was savvy enough to contact a nonprofit group, Pine Tree Legal Assistance, where for once in her 38 years, she caught a break.
Her file was pulled, more or less at random, by Thomas A. Cox, a retired lawyer who volunteers at Pine Tree. He happened to know something about foreclosures because when he worked for a bank he did them all the time. Twenty years later, he had switched sides and, he says, was trying to make amends.
Suddenly, there is a frenzy over foreclosures. Every attorney general in the country is participating in an investigation into the flawed paperwork and questionable methods behind many of them. A Senate hearing is scheduled, and federal inquiries have begun. The housing market, which runs on foreclosure sales, is in turmoil. Bank stocks fell on Thursday as analysts tried to gauge the impact on lenders’ bottom lines.
http://www.nytimes.com/2010/10/15/business/15maine.html?_r=1
Interesting stuff here. If banks want to remove someone from their house, they could at least do the paperwork right.
I wish more qualified candidates were being offered up as opposition. I also wish that the elections were more alive locally. There is a Democrat named Barnette running in the 10th district. No one has offered me so much as a yard sign. I just don’t think Prince William is being considered. Are we once again the stepchild of Fairfax. I did get a survey call from Frank Wolf.
Feeling evil this morning. I woke up to a huge dog fight. Bad boys! (speaking of wolves)
@starry, very interesting. Thanks for posting that story. What has happened with the woman? I had some BAC stock I didn’t dump soon enough. Sigh. Asleep at the switch. It won’t be worth you know what at the end of the day.
What is sad is people who tried to do the right thing probably lost their houses…obeying the rules, and those not doing the right thing and squatting will get to keep their houses. The real losers are people who bought houses that they actually weren’t entitled to buy.
Wait, no, we will be the real losers, again. How many times are banks going to get a pass? I seem to recall a whole bunch of republicans during the banking reform bills trying to protect their friends the bankers while people like Senator Dodd worked his butt off trying to put rules into place so we would never suffer again at the hands of banks and mortgage holders. hmmmm…could it be that Senator Dodd was right?
That’s right, and are you ready to cry like a baby Nov 2? You focus on DE. Don’t take your eye off DE!!
Someone is going to cry every election day. After a certain point, you just laugh and wonder how the next fool is going to foul up things.
@Moon-howler
Keep an eye on BIDU this morning. Beautiful chart may be ready to break out. It’s a pin action play off GOOG.
I was just coming in to look for Cato.
Explain pin action please. Remember to speak as though speaking to a child. (and you have been doing much better about dumbing it down…think even dumber.)
Ok – pin action. Think bowling. If you hit the kingpin, the ones around it react as well. BIDU is the Chinese GOOG.
Also think AAPL. APPL is the kingpin. Who else benefits when AAPL sells ipads? Well, GLW (they make the glass) CRUS (makes chips) SNDK (makes memory) BRCM (chips) and so forth. http://www.macrumors.com/2010/04/02/fcc-ipad-images-reveal-broadcom-chip-apple-a4-toshiba-flash-memory/
Pin action is a great way to play under the radar and make money after the kingpin has already broken out. We’ll make a trader out of you yet.
I’ll give you an example of a trade I’m going to put on after watching the first 30 minutes of action. Short GOOG and long BIDU.
GOOG typically moves up 3.5% after an earnings beat, while it usually moves down 10% after an earnings miss. It’s up 11+% – in other words my thesis is that it overshot and this move will be faded somewhat. BIDU on the other hand has been building a textbook breakout chart pattern, and while it’s up 3+% pre-market I think there are a few more bucks to be had.
So I’ll be looking to enter BIDU after the initial fade at around 100 for a pop to 104 and looking to short GOOG at 602 with an initial downside target of 585.
All this is dependent on the dollar continuing to get pounded though. Keep an eye on that dollar.
BIG football game in Manassas tonight – the MIGHTY OSBOURN EAGLES
play host to battlefield at 7:30! OHS has outscored their last four opponets
by a toal of 119-0 in the first half! GO EAGLES!
Got the king pin part now. working on the bidu/goog action now. Watching of course.
My son who is ‘in the industry’ would smack my hands if he knew I was contemplating….I think he thinks I am too dumb to be a trader.
Big Dog, I notice those aren’t just ordinary EAGLES. They are MIGHTY EAGLES.
May their wings flap for you…sharpened talons and beaks even. Is this going to be a bobcat vs EAGLE match?
@Cato, perhaps dumb is too harsh a word. ‘inexperienced’ is probably kinder.
In BIDU @ 99.55
I am getting vertigo trying to watch the dollar. Not to ask a stupid question, but what am I looking for it to do? I am talking outcomes here.
You’re looking for the dollar to continue lower, or at the very least stay flat. If the dollar index begins to rise, time to think about exiting longs.
The bulls are supposed to be doing better, running harder, longer, stronger.
snort!
Grrr. BIDU just chewing around, gonna require some patience. GOOG short is working just spiffy though.
See how that works? The .25 that I’m down in BIDU is more than covered by the 4 bucks I’ve made short GOOG and allows me to stick with my BIDU long. This is how hedge funds trade, basically. Now, if I want to press the short side (and I just might), I’ll take some profits on the short GOOG and go long call options so I cap my risk.
@Moon-howler
You should check out https://www.thinkorswim.com/tos/client/index.jsp – it’s a good platform for beginners and they let you practice trade with fake money so you get comfortable with your own strategies before you trade with real money.
I will check it out. I am not supposed to be playing with these things, you know.
I can at least play around. Maybe that will keep me from trying to tweak real things.
I think I am confused over long and short. I thought that had to do with length of ownership.
Dollar is falling on reaction to Bernanke.
Footnote: Osbourn principal John Conti and Battlefield principal
Amy Ethridge-Conti are husband and wife.
Well, I guess all bets are off then. ho ho ho
To be long means you bought the stock and are looking to profit if the value of the stock rises. To be short means that you borrowed the stock and intend to buy it back at a lower price as it falls in value. For example I borrowed GOOG at 598 and it’s trading right now at 596. If I covered the short right now I would pocket a gain of 2 bucks a share. Shorting exposes you to unlimited risk, so what I’m going to do now is cover part of the position and take that profit and buy the option to buy GOOG at 600, thereby capping my risk on the short at 2 bucks a share to the upside while I continue to ride the short.
ok. So it has nothing to do with length of time owned in this context?
I don’t have an options account which is probably a good thing.
Do you have ulcers?
Nope, nothing to do at all with time. A long is a bet that a stock will rise, a short is a bet that it will fall.
I have a cast iron stomach.
Then why do I see short and long dealing with time? For instance…less than a year, listed as short. Longer than a year, long. What does that mean then?
Glad no ulcers. Is this a job or a hobby?
Those are your gains for tax purposes. Anything listed “long” is taxed at cap gains rates. Anything listed “short” is regular income and taxed as such.
I have a business that trades based on proprietary algorithms we conjured. In some cases we also license our indicators to other firms.
This might be a book worth reading: http://www.thedailybeast.com/blogs-and-stories/2010-10-15/general-hugh-shelton-on-clinton-rumsfeld-and-mccain/?om_rid=CgCwBH&om_mid=_BMuE$YB8VNp1SM
ah…ok…I think I understand.
So do you have regular individual investors or company investors?
I had it right then on the long and short gains. Thats as far as I ever got. I will start studying what you told me. I won’t do it though unless I sneak. 😉
If I lived in Delaware, this would be one more reason I wouldn’t vote for O’Donnell–she says she has Sean Hannity in her back pocket. How come it is that Hannity rhymes with Insanity?
http://www.huffingtonpost.com/2010/10/14/christine-odonnell-sean-hannity-republicans-fundraising_n_763487.html
Why would she want him in her back pocket? He would probably bite her ass.
He is nasty, like Steve Doocy. He sneers. So does Doocy. Doocy’s kid seems like he might have hope as a human being though. I hope he hasn’t ruined from being around Faux News too long.
George, what is it about? And my next question, is it on ebooks ? Kindle, ibook?
No investors, our revenue comes from profits trading our own capital and the licensing fees instutional trading desks pay us to use our indicators and algorithms. It’s nice not dealing with individual customers, but those institutional guys can get testy if they’re having a bad day 🙂
May I suggest that Moon and Cato start a finance blog.
I think I might understand Greek better than the stuff they’re discussing.
I think it’s about time to flex some “coffee party” muscle! Ready? Set! Flex!!
The teacher who watched Obama sign the Education stimulus…..just got laid off.
http://www.toledoblade.com/apps/pbcs.dll/article?AID=/20101015/NEWS04/10140328
Hollywood East? In addition to the “Hugh Jidette For President” commercial
just shot in Old Town Manassas, a small indie crew was at Prospero’s
Bookstore filming “God and Vodka” (you can google it – PLUS donate a $100
and apparently get listed in the credits!). They are, I am told, aiming for
Sundance.
After much back and forth on the prior open thread about character … who has it and who doesn’t … here’s one I think we can all agree on. Good story about a real patriot who at the age of 95 is finally getting the public recognition he deserves for his service decades ago.
http://cityroom.blogs.nytimes.com/2010/10/14/66-years-later-a-bronze-star/
Amen, Morris.
Pursuant to that article about the foreclosure in Maine, I recently heard about a lady in Florida who discovered that there was a man unknown to her who was removing the lock from her front door in preparation for installing a new one. The lady was in the house at the time. After she called the police, she was told that the lock installer had been hired by a mortgage company to change the locks on her foreclosed house. The problem was that the lock guy had been given the wrong address!!
“Freakazoids” in the Tea Party, eh? Why don’t you try New York where the Dems control the statehouse and the legislature. Up there they have announced that they just happened to have failed to get absentee ballots out to the military troops on time for 2 November. Why, those poor, innocent little critters just happened to mess this up for some inexplicable reason. How about possibly “Electoral Fraudazoids”?
Cato — I have followed your market discussions for some time on other blogs. Without reverting to “Wall Street speak”, could you offer to these bloggers some of your insights on something which keeps arising from time to time. I am hearing once again that the current administration is still looking at the possibility of seizing private 401k’s and IRA’s for the federal treasury and replacing them with, I would surmise, arbitrary “annuities” when people retire Hard to get a true fix on this thing, but the idea just does not seem to die and seems to me to promise a genuine revolt in the ranks. Got any insights for us?.
I keep wondering why the Democratic candidates aren’t crowing about their HCR success just two weeks before the election. The silence is deafening. However:
http://www.massdevice.com/news/florida-judge-advances-healthcare-reform-challenge
@Big Dog Go Eagles! Looking forward to the game. They are awesome now.