The Raging Fire Within

By -

I’ve been trading the stock market for nearly thirty years, virtually non-stop. Today (that is, Monday, August 24) easily ranks in the top five strangest, craziest days in the thousands upon thousands of trading days I’ve ever witnessed. I felt like I was entering a cage of gorillas that had just ingested a large quantity of PCP. It felt dangerous and really, really unpredictable.

As I mentioned on my lengthy Saturday post:

I expect (and, again, hope – – because, God forgive me, I’m actually long five ETFs in size right now) we get a meaningful relief rally, carrying us up to the psychologically-important 17,000 level. At that point, please don’t be anywhere between me and my keyboard, because I am going to be shorting anything with a ticker symbol in size.

(more…)

Slope’s Glorious Return to the Vanguard

By -

Greetings from my children’s play room, from where I have decided to compose a very long post to try to relieve myself of the aching burden of thoughts borne from recent market action. I should be feeling triumphant, but I feel deeply dissatisfied (which is not surprising, knowing my personality) while, at the same time, full of anticipation. Slope is, among other things, a means by which I expunge tortured thoughts, so I will do that here and now.

0822-bears

(more…)

Ciao!

By -

Most of you have probably gathered I’m not big on vacations. If I had committed some ghastly crime and was sentenced to spend the rest of eternity working from home, forbidden to leave the town limits of Palo Alto, I actually would have no problem with that. Indeed, I’d like to know the crime in question, just so I can enjoy committing it and then bask in the glow of a supposedly Draconian sentence.

(more…)

William Dudley Comes Through!

By -

Moments ago, this dropped into my email’s inbox with the subject line of FEDERAL RESERVE FUNDS. Looks like it’s my lucky day. I’ve highlighted some particular important bits. Suffice it to say, there’s no need for me to be hanging around Slope, scraping up pennies with ad dollars any more:

FEDERAL RESERVE BANK OF NEW YORK
(SERVING THE SECOND DISTRICT AND THE NATION)
33 LIBERTY STREET NEW YORK, NY 10045. USA
WEBSITE: WWW.NY.FRB.ORG//OUR REF: FRB/NY/TDT/US/XX15
E-MAIL: FEDERALRESERVEBNK@FOXMAIL.COM

NOTIFICATION OF CREDIT FROM BANK FEDERAL RESERVE BOARD NEW YORK.

Urgent Attn:

This is to officially notify you that, after series of meetings held on over the months with the Secretary General of the United Nations in United State of America, which has came to a halt that it is obvious that you still haven’t received your fund valued at US$11,000,000.00 (Eleven Million United States Dollars) as a compensation funds awarded to you.

(more…)

Bernanke of Warren-Vitter & Last Resorts

By -

By Biiwii

Ref. Warren-Vitter and the lender of last resort

I have always liked Ben Bernanke, in that I think he is a soft-spoken, nice guy who took the hand off from Alan Greenspan in stride, heroically making chicken soup out of the chicken excrement he was left with. He kept his dignity and calm demeanor during the days when inflationist gold bugs codified the term “Helicopter Ben” and turned it into just another accepted way of saying “Ben Bernanke”.

(more…)