Comments on: Timberrrr…….

By: If you do not fear the recession, it will not occur by Ben Bernanke on News Groper - Fake Economist Blogs, Federal Reserve Chairman Humor, Interest Rate Innuendo, Funny Money Supply Satire

Tue, 22 Jan 2008 23:17:48 +0000

[...] a great American leader. What does great leadership entail? Being optimistic about the future, not worrying about the Dow futures market being down 500 points. That’s why my old boss, George Bush, and [...]

By: tom a taxpayer

tom a taxpayer — Tue, 22 Jan 2008 09:37:27 +0000

Tick Tock! Tick Tock! Tick Tock! Like an episode of ‘24′.

Only 5 hrs until NYSE opening bell.  Uncle Ben, the clock is ticking.
 The U.S. dollar has strengthened due to the stock market sell-off around the world. The stronger U.S. dollar gives you the leeway for the Fed rate cut.
However, this leeway for the Fed rate cut can not be counted on past the opening bell. Once the market opens, the U.S. market will get pummeled like the rest of the world markets. Things may spiral out of control during the day. The U.S. dollar may suffer like the Euro suffered on Monday. Or, the $ may maintain or even strengthen. But that is all a gamble if you wait until after the opening bell rings.

Announcement of a Fed rate cut before the bell is as close to a sure thing in terms of starting from U.S. dollar strength as anytime over the next two weeks.

By: Jan

Jan — Tue, 22 Jan 2008 01:28:58 +0000

Hey boca,

Are you the same bocagirl that stops into TG’s chatroom, and posts on her blog? I’m closing my position in SDS tomorrow (my only short, unfortunately) and sitting on my hands until the dust “settles” . Should oil/gas bounce a bit, might lighten up a bit there.

Jan

By: johnjaygebhardt

johnjaygebhardt — Mon, 21 Jan 2008 20:29:42 +0000

unfortunately the market can open lower and continue down. i am invested in green energy plays. oil and gold and silver. i hope to stay long all of these ideas. the best thing that can happen for me is to see the market open higher than the futures suggest trapping alot of sellers. there must be some good news somewhere.
the best advice i can lend to anyone if your not sure what to do tomorrow is if you can do nothing. alot of people say buy a gap down . i am not sure . i would sell the vix either. cant it go to 100?

By: ivanhoff

ivanhoff — Mon, 21 Jan 2008 19:41:39 +0000

short the VIX, if it opens at 35. Currently is at 27.18, but everything can happen overnight. Tomorrow will be remembered.

By: Hawk

Hawk — Mon, 21 Jan 2008 17:18:38 +0000

It seems as if everyone is bearish. Double top on ES mini measures to 1200, NQ has hit it’s downside target for it’s top this morning and still has a minor flag target to go at 1740. Bears will panic and cover when the honey jar gets dry and very few will catch the panic rally due to shell shock. Times like this are a trader’s dream. Be a trader for now. Watch the major levels on the monthly charts, one of those spots will be “it”.

By: Monday links: developing-country multinationals « Abnormal Returns

Monday links: developing-country multinationals « Abnormal Returns — Mon, 21 Jan 2008 17:13:44 +0000

[...] What might happen next. (Howard Lindzon) [...]

By: David

David — Mon, 21 Jan 2008 17:12:20 +0000

Well, another way to look at it is, you can buy some pretty good stocks at very cheap prices tomorrow.
At least I am about 50% cash with no margin. I do pity those who 110 invested.

By: bocagirl

bocagirl — Mon, 21 Jan 2008 16:41:18 +0000

Adding… I wouldn’t be anywhere as near well prepared if I didn’t read people smarter than myself like Howard, The Fly, Woody and even that smart young’un Danny. I’m just smart enough to know who I can learn from (thanks) … and who to ignore like Doug Kass, the flip-flopping asshat of the month.

By: bocagirl

bocagirl — Mon, 21 Jan 2008 16:34:43 +0000

Bernanke is starting to scare me because he talks a good game, but does nothing, and it makes me suspect he doesn’t know what to do. The perceived lack of leadership from the Fed is reducing confidence even further.

I’ve prepared as best as I can with a few defensive longs, protective puts and going short via FXP, MYY, QID, and SMN. Other than that, what else can I do but see what happens. I would dearly love a short term rally so that I can unload my SPY’s …. hey I can dream.

Dow futures closed down over 400 points. I have zero inclination to buy any major amount of stock in the next six months, looking to other businesses instead.

Of course, if the Boca Housewife is your contrary indicator, I suppose my bad mood means a short term bottom is coming and the Fed might lower rates this week

Good luck to all.