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post #106461 of 136697
Quote:
Originally Posted by mjoke View Post

this will sell off, lose steam.. wont be parabolic or anything. Nice gap but i expect that to be tested..

wow only 1tillion in cuts  laughing.gif  .. the downgrade drums are beating.



bear bear bear, bear is the word ba ba ba bear bear bear, bear is the word. Gonna become a singer if stocks don't work out :) Shorts gonna get blasted regardless tomorrow. Soooo happy i got assigned some weekly stocks on friday.

post #106462 of 136697

hello age of austerity. goodbye even more american jobs

post #106463 of 136697


 

Quote:
Originally Posted by revolution View Post

there is nothing wrong with inflation. it's a natural and inevitable part of a growing economy. hyper inflation is the problem. when it's not your money, why would you care about spending it? (talking about the government spending). it's either raise taxes or increase debt. raising taxes is pretty much political suicide unless you're increasing the taxes of the "wealthy".
 



 


There IS something wrong with inflation, though it's a requirement in a debt based economy. How else could they pay the interest burden...growth? ROFL. Not with this economy, not this late in the game. My issue is with the fundamentals of the US not simple inflation. They have disallowed any proper correction and propped things up to a level where we've long since passed the fundamental capability of the nation. Medicare, war, tax loopholes and bailout/stimulus are the key issues IMO that have caused massive dilution of our currency and almost complete erosion of our spending power.

 

They should have been running a surplus when times were good and use that money to cushion and push through any deficit causing periods. Below is my solution. I'd be interested to see what others propose we cut. ;)

 

http://www.nytimes.com/interactive/2010/11/13/weekinreview/deficits-graphic.html?choices=w2fk205c

 

post #106464 of 136697

I don't think the selloff will happen tomorrow unless the Congress votes against the deal.  The markets could eventually come back down, but not tomorrow in my opinion.  We are due for an oversold rally anyway after last week.

 

I am still not convinced either S&P or Moody's will downgrade the US in the near future.  They have softened their stances and I think they will say the deal is good enough for the US to keep its AAA rating.

post #106465 of 136697

ONLY 1 trillion in cuts sounds bullish to me.. we rally higher i think

post #106466 of 136697

blah blah blah..it hasent been PASSED by the HOUSE or SENATE.. they house could reject it.

Shorts are not all going to cover, as the market will just unwind over something else.. 

 

They might as well of approved 1.00 in spending cuts and passed something days ago lol... as the 1trillion is pitiful. yay keep the govermnet spending flowing might be bullish on the short, but not in the long term. i expect it to try and break below 1300 again, if not then we will test some resistance levels and see if we can break that 1317.  im sorry some people think being a realist is being a bear.

 

It wasnt the bill which is the problem, its the lack of subsistence and a plan, which will cause the rating agencies to foam at the mouth for a downgrade, which ben and tim and sending flowers and candy to them to stem that from happening. Just one turd has been removed from the table.

 

 

"the lowest domestic spending since Eisenhower".


Edited by mjoke - 7/31/11 at 11:39pm
post #106467 of 136697

Has anyone else had the thought that perhaps they are looking to get downgraded as a way to have interest rates lifted? This way they can spin it like the Fed is a victim of circumstance and the aren't the bad guy? Just throwing it out there...I know it seems impossible which is why I think it could be true. LOL

post #106468 of 136697

ya ive thought about something along those lines, which seems the less "blame" way out sorta speak.. other than ben and tim leaving their posts when the term is up. They dont want to be balmed for what occurs after they start to rise. So it could be true eh..

Quote:
Originally Posted by MC View Post

Has anyone else had the thought that perhaps they are looking to get downgraded as a way to have interest rates lifted? This way they can spin it like the Fed is a victim of circumstance and the aren't the bad guy? Just throwing it out there...I know it seems impossible which is why I think it could be true. LOL



 

post #106469 of 136697

i wouldn't be surprised at all.  They all ways find ways to cover their a$$
 

Quote:
Originally Posted by MC View Post

Has anyone else had the thought that perhaps they are looking to get downgraded as a way to have interest rates lifted? This way they can spin it like the Fed is a victim of circumstance and the aren't the bad guy? Just throwing it out there...I know it seems impossible which is why I think it could be true. LOL



 

post #106470 of 136697
Anyone who trades primarily intraday should love this week. Tons of news/econ reports coming out, and bears and bulls are both wired to the tits. I think the way to make people lose the most money tomorrow would loosely follow a fake gap and crap where we open 1300-1315, retrace 5-8 points, then shoot to 1320-ish and then have a nice late-day selloff. All of this presumes no debt deal is signed, sealed and delivered and no strong news to that effect comes out during the day session. In this fashion all of the excited bears and bulls would see their desired signals, place their bets, and then promptly receive a huge kick in the nuts. The last 15 minutes Friday offered such extreme price volatility in the S&P, a repeat of that during the day in general would not surprise me in the least.

All market stuff aside, this debt deal is one of the bigger jokes I've seen in politics since the Monica Lewinsky stuff, although this is probably a much bigger joke since it involves a paper bill with real effects, not just shaming a person named Bill. Hell let's throw the Anita Hill circus in there for good measure. Like others have said, these spending cuts will essentially be revealed as illusory, and in this compromise it seems all sides have given up everything good for which they were fighting. Talk about politics of failure, we're living a monkey circus right now. Perhaps the best part of this, or least worst really, is that the cuts don't start until 2013, many macro economists have warned that spending cuts coming too early could cripple the "recovery."
post #106471 of 136697
Quote:
Originally Posted by hermanpu View Post

Obama. Looks like a zombie on TV talking about the debt deal. I wonder what the details are and which party caved.


      The dems caved to the massive spending cuts put in place is what I have heard on this new proposal. 

 

 
 

Quote:
Originally Posted by MC View Post


 


There IS something wrong with inflation, though it's a requirement in a debt based economy. How else could they pay the interest burden...growth? ROFL. Not with this economy, not this late in the game. My issue is with the fundamentals of the US not simple inflation. They have disallowed any proper correction and propped things up to a level where we've long since passed the fundamental capability of the nation. Medicare, war, tax loopholes and bailout/stimulus are the key issues IMO that have caused massive dilution of our currency and almost complete erosion of our spending power.

 

They should have been running a surplus when times were good and use that money to cushion and push through any deficit causing periods. Below is my solution. I'd be interested to see what others propose we cut. ;)

 

http://www.nytimes.com/interactive/2010/11/13/weekinreview/deficits-graphic.html?choices=w2fk205c

 



  I just threw up on the Carbon Tax put in place by the special interest EPA fools. Someone get rid of the EPA already.... Bank tax one of the things killing the recovery thanks dems. 

 

Raise the ceiling on the payroll taxes and allowing bush tax cuts to expire would cause the economy to cut back on spending killing us more. 

 

The dems want to make sure the small buisness's make a earned profit of 1 million before taxes and after 100,000.

 

 Talk about a great idea!

Eliminate loopholes, reduce rates (Bowles-Simpson plan)

The deficit commission proposed a series of tax overhaul plans. Each one would reduce tax breaks for companies and individuals, while lowering tax rates. On the whole, the plans would raise revenue. One plan would cut all tax breaks other than the child and earned-income tax credits and those for mortgages, health and retirement benefits. The corporate tax would then be cut to 28 percent, from 35 percent, while individual tax rates would be cut for all brackets too.

 

 

 

 

 

I did everything you did MC but I cut 

Cut pay of civilian federal workers by 5 percent

 

Reduce the federal workforce by 10 percent hope it was the EPA

 

Cut 250,000 government contractors. Way to much competition. 

 
 
 
 
I am looking at a 38% savings from tax increases and 62% savings from spending cuts.
post #106472 of 136697

Futures going buckwild!  Hello green tomorrow!  Love all this theater ... all over what anyone could've figured out they were gonna do.

post #106473 of 136697


 

Quote:
Originally Posted by wisconsinstock1 View Post

Back from my vacation. There is a debt deal put together between the parties today and the voting could take place tomorrow. Right now the futures are up Dow up 174 SP 15.90 NAS 32.50 and with a fueling vote to be passed later tomorrow that could either cause a buy on rumor sell on news effect. This means buy on the rumor of the deal being put together and then selling once complete and adjusting to fundamentals. This news was baked in to me getting passed IMHO last week. Huge jobs losses coming in later this month and the unemployment is predicted to tick up to atleast 9.5 according to economist. The very crappy GDP number was way off estimates and shows production is slowing down also. Some say Moody's may downgrade us anyway even if we get the debt deal passed.

 

We will have to see what happens but I don't like what I see on other fronts of the economy. I agree with some peoples analysis of the market based on chart numbers. I will fill people in tomorrow based on my techs then. 


 

    MC I do not like this at all though. 

 

Hedge_Fund_Tax_Loophole_Chart.jpg

 

 

Quote:
Originally Posted by Rock Sexton View Post

Futures going buckwild!  Hello green tomorrow!  Love all this theater ... all over what anyone could've figured out they were gonna do.

 

   Agreed we will see what happens.
 

 

post #106474 of 136697
Quote:
Originally Posted by wisconsinstock1 View Post

 

 

I did everything you did MC but I cut 

Cut pay of civilian federal workers by 5 percent

 

Reduce the federal workforce by 10 percent hope it was the EPA

 

Cut 250,000 government contractors. Way to much competition. 

 
 
I am looking at a 38% savings from tax increases and 62% savings from spending cuts.


The ONLY reason I couldn't make those cuts is they were blanket cuts. Like where you hoped it was the EPA but you didn't have control. For me I'd want to go top down, instead of the typical American cut of bottom up. I want to take the fat cats and offer less pay (in line with what they produce), if not cut them off. If the goods you produce or services you provide don't exceed your pay & benefit package you need to step it up or take a hike. That's how everything should be IMO. I'd never hire a financial advisor that's paid per transaction. You'll get paid if I make money...as a percentage of gains. That keeps people on the up & up and puts your best interest in line with their best interest. :)

 

post #106475 of 136697


 

Quote:
Originally Posted by MC View Post

Has anyone else had the thought that perhaps they are looking to get downgraded as a way to have interest rates lifted? This way they can spin it like the Fed is a victim of circumstance and the aren't the bad guy? Just throwing it out there...I know it seems impossible which is why I think it could be true. LOL



   I think they want to push the interest rate to 3.85% by downgrading to a AA rating. I think it will show a very little jump to the past 4% in the future when China sells part of our 27% debt to some country as a sucker. They are LOL at us in their huge surplus while they poke their chop sticks at the T.V. and play with bernake cash helicopter action figures because they made it in China...

 

Not to mention Obama having the Fed print up money out of thin air for Quantitative easing (that failed) while just a few weeks ago threatening old Lady's saying he will not send the SS checks out if the debt ceiling does not pass. 

post #106476 of 136697


lol, i think this will be short rally. but at the same time nothing has stopped this market. its bull prof and the bull keeps swallowing bad news over and over, its just matter of time till it needs to take a big shit
 

Quote:
Originally Posted by mjoke View Post

this will sell off, lose steam.. wont be parabolic or anything. Nice gap but i expect that to be tested..

wow only 1tillion in cuts  laughing.gif  .. the downgrade drums are beating.



 

post #106477 of 136697

It just did,last week.

 

Quote:
Originally Posted by Mr.Sono View Post


lol, i think this will be short rally. but at the same time nothing has stopped this market. its bull prof and the bull keeps swallowing bad news over and over, its just matter of time till it needs to take a big shit
 



 



 

post #106478 of 136697

a big shift is 500 dow points over a week?.. more like gas..

Quote:
Originally Posted by mxdave View Post

It just did,last week.



 

post #106479 of 136697


that was a fartbanana.gif
 

Quote:
Originally Posted by mxdave View Post

It just did,last week.

 



 



 

post #106480 of 136697

what are the chances senate won't pass the bill tomorrow. slim to non?

 

 

 

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