Comments on: Thursday Readings http://www.ritholtz.com/blog/2009/07/thursday-readings/ Macro Perspective on the Capital Markets, Economy, Geopolitics, Technology, and Digital Media Mon, 22 Mar 2010 01:44:33 -0400 http://wordpress.org/?v=2.9.2 hourly 1 By: nemo http://www.ritholtz.com/blog/2009/07/thursday-readings/comment-page-3/#comment-194957 nemo Fri, 17 Jul 2009 21:25:05 +0000 http://www.ritholtz.com/blog/?p=32469#comment-194957 @Jdamon33 - If your friend can get 60 cents on the dollar for CIT bonds, he should jump on it, although I doubt he can get that. Back in early May I rediscovered I had some CIT bonds I had inherited, but had forgotten about. Fortunately it was only $10K, but I was pissed at myself. I had considered selling it in early 2008, but was seduced by the 6.25% yield. In May 2009 I sold for 54 cents on the dollar, and was glad to get that -- the going rate the previous month had been about 42 cents. But constantnormal is right -- advise your friends and relatives, and they'll either ignore you or resent you. Even if they ask for the advice. Especially if things don't turn out the way you predict. @Jdamon33 – If your friend can get 60 cents on the dollar for CIT bonds, he should jump on it, although I doubt he can get that.

Back in early May I rediscovered I had some CIT bonds I had inherited, but had forgotten about. Fortunately it was only $10K, but I was pissed at myself. I had considered selling it in early 2008, but was seduced by the 6.25% yield. In May 2009 I sold for 54 cents on the dollar, and was glad to get that — the going rate the previous month had been about 42 cents.

But constantnormal is right — advise your friends and relatives, and they’ll either ignore you or resent you. Even if they ask for the advice. Especially if things don’t turn out the way you predict.

]]> By: Whammer http://www.ritholtz.com/blog/2009/07/thursday-readings/comment-page-3/#comment-194659 Whammer Fri, 17 Jul 2009 06:36:03 +0000 http://www.ritholtz.com/blog/?p=32469#comment-194659 AT, you're getting me all nostalgic about a bunch of bands from that time. The Clash, Nine Inch Nails, Butthole Surfers, Violent Femmes, Chili Peppers, Siouxsie and the Banshees, oooh oooh Stone Roses!! AT, you’re getting me all nostalgic about a bunch of bands from that time. The Clash, Nine Inch Nails, Butthole Surfers, Violent Femmes, Chili Peppers, Siouxsie and the Banshees, oooh oooh Stone Roses!!

]]> By: Andy T http://www.ritholtz.com/blog/2009/07/thursday-readings/comment-page-3/#comment-194658 Andy T Fri, 17 Jul 2009 06:03:38 +0000 http://www.ritholtz.com/blog/?p=32469#comment-194658 I-Man Says: July 16th, 2009 at 5:57 pm “Nothings Shocking” ~~~~~~~~~~~~~~~~ "Nothing's Shocking" is the title of the seminal album from the band Jane's Addiction released in 1988. It was a tremendous album that included such works as "Ocean Size" and "Mountain Song." Unfortunately for the band, they were a bit overshadowed by "Appetite for Destruction" by Guns N' Roses released the year prior. It was a great two years for serious hard rock fans. Amen. I-Man Says:
July 16th, 2009 at 5:57 pm
“Nothings Shocking”
~~~~~~~~~~~~~~~~

“Nothing’s Shocking” is the title of the seminal album from the band Jane’s Addiction released in 1988. It was a tremendous album that included such works as “Ocean Size” and “Mountain Song.” Unfortunately for the band, they were a bit overshadowed by “Appetite for Destruction” by Guns N’ Roses released the year prior. It was a great two years for serious hard rock fans. Amen.

]]> By: Mike in Nola http://www.ritholtz.com/blog/2009/07/thursday-readings/comment-page-3/#comment-194652 Mike in Nola Fri, 17 Jul 2009 04:24:26 +0000 http://www.ritholtz.com/blog/?p=32469#comment-194652 All the whining here and strutting at CNBC indicates we are getting the requisite sentiment for a plunge. May take another month or so before we get the complacency back. All the whining here and strutting at CNBC indicates we are getting the requisite sentiment for a plunge. May take another month or so before we get the complacency back.

]]> By: bergsten http://www.ritholtz.com/blog/2009/07/thursday-readings/comment-page-3/#comment-194642 bergsten Fri, 17 Jul 2009 03:17:52 +0000 http://www.ritholtz.com/blog/?p=32469#comment-194642 This from ZH. I gotta tell ya... (Seemingly genuine) Dept. of the Treasury Request for Proposals to "Provide Humor in the Workplace" http://zerohedge.blogspot.com/2009/07/paging-ben-dover-to-provide-taxpayer.html?dsq=12797994#comment-12797994 Anybody got Scott Adams' email address? This from ZH. I gotta tell ya…

(Seemingly genuine) Dept. of the Treasury Request for Proposals to “Provide Humor in the Workplace”

http://zerohedge.blogspot.com/2009/07/paging-ben-dover-to-provide-taxpayer.html?dsq=12797994#comment-12797994

Anybody got Scott Adams’ email address?

]]> By: cvienne http://www.ritholtz.com/blog/2009/07/thursday-readings/comment-page-3/#comment-194641 cvienne Fri, 17 Jul 2009 03:17:13 +0000 http://www.ritholtz.com/blog/?p=32469#comment-194641 @thetanman I'm just gonna say this... BULL markets are not usually full of 2-3% UP days (as we've seen MANY, the past 4 months)... Technically, I have 1,080 still on the table, but I'm wondering when FUNDAMENTALS hold sway... Perhaps only Lloyd Blankfein knows the answer because WE ALL KNOW... He's not the MOST CLEVER out there...just the biggest A**HOLE... I hope your credit card is GOOD in PARADISE dickwad... ...just for fun I'll toss Jamie Dimon onto that flea bitten scrapheap...Jamie-just know that you're not even AS SMART as the biggest A**HOLE on the planet...That ought to make you proud... ...as for Ken Lewis...lol...COME ON! @thetanman

I’m just gonna say this…

BULL markets are not usually full of 2-3% UP days (as we’ve seen MANY, the past 4 months)…

Technically, I have 1,080 still on the table, but I’m wondering when FUNDAMENTALS hold sway…

Perhaps only Lloyd Blankfein knows the answer because WE ALL KNOW…

He’s not the MOST CLEVER out there…just the biggest A**HOLE…

I hope your credit card is GOOD in PARADISE dickwad…

…just for fun I’ll toss Jamie Dimon onto that flea bitten scrapheap…Jamie-just know that you’re not even AS SMART as the biggest A**HOLE on the planet…That ought to make you proud…

…as for Ken Lewis…lol…COME ON!

]]> By: thetanman http://www.ritholtz.com/blog/2009/07/thursday-readings/comment-page-3/#comment-194639 thetanman Fri, 17 Jul 2009 03:02:04 +0000 http://www.ritholtz.com/blog/?p=32469#comment-194639 cv, I've seen days like today, mostly '03-'08. Flopping and chopping most of the day and then a relentless ramp into the close. A real bear killer. Its not like those weird fake jam jobs we've been getting for the last few months. This one had some stank on it. Good luck, and just remember my middle name is coin flip. I guess that would be two middle names. cv,

I’ve seen days like today, mostly ‘03-’08. Flopping and chopping most of the day and then a relentless ramp into the close. A real bear killer. Its not like those weird fake jam jobs we’ve been getting for the last few months. This one had some stank on it. Good luck, and just remember my middle name is coin flip. I guess that would be two middle names.

]]> By: cvienne http://www.ritholtz.com/blog/2009/07/thursday-readings/comment-page-3/#comment-194633 cvienne Fri, 17 Jul 2009 02:39:54 +0000 http://www.ritholtz.com/blog/?p=32469#comment-194633 @tanman Per my last post... I'll concur to PLUS the 233 day EMA... No breakthru...no dice... @tanman

Per my last post…

I’ll concur to PLUS the 233 day EMA…

No breakthru…no dice…

]]> By: cvienne http://www.ritholtz.com/blog/2009/07/thursday-readings/comment-page-3/#comment-194632 cvienne Fri, 17 Jul 2009 02:37:41 +0000 http://www.ritholtz.com/blog/?p=32469#comment-194632 @wes No my friend...I WELCOME pain...it's my friend... per my previous post...I HONOR my committments...943 was my mark...here's how that played out... http://www.ritholtz.com/blog/2009/07/foreclosures-rise-9-in-1h-2009/#comment-194385 956 is still in my radar...GOTTA STAY COOL...(AND BESIDES THAT STUPID NUMBER THERE'S A LOT OF OTHER DOLLAR/EURO CRAP THAT HAS TO PLAY OUT)... but I'm still cool... If some "insentient" type algorythm - wine drinking - cash flush - trader wants to take me to 1,080 this summer...I'll say..."Thanks for the ride back to 956 - your KUNG FU is stronger than mine (for now) because you're a narcissistic COB SHELL that doesn't care about anything else than your summer glass of wine & your bragging rights"...Thanks for the time spent...let's draw some lines & WRESTLE ON... @wes

No my friend…I WELCOME pain…it’s my friend…

per my previous post…I HONOR my committments…943 was my mark…here’s how that played out…

http://www.ritholtz.com/blog/2009/07/foreclosures-rise-9-in-1h-2009/#comment-194385

956 is still in my radar…GOTTA STAY COOL…(AND BESIDES THAT STUPID NUMBER THERE’S A LOT OF OTHER DOLLAR/EURO CRAP THAT HAS TO PLAY OUT)…

but I’m still cool…

If some “insentient” type algorythm – wine drinking – cash flush – trader wants to take me to 1,080 this summer…I’ll say…”Thanks for the ride back to 956 – your KUNG FU is stronger than mine (for now) because you’re a narcissistic COB SHELL that doesn’t care about anything else than your summer glass of wine & your bragging rights”…Thanks for the time spent…let’s draw some lines & WRESTLE ON…

]]> By: thetanman http://www.ritholtz.com/blog/2009/07/thursday-readings/comment-page-3/#comment-194631 thetanman Fri, 17 Jul 2009 02:36:41 +0000 http://www.ritholtz.com/blog/?p=32469#comment-194631 My fellow Piltdowns, we're a gnats eyelash from being blown out of the water. Shouldn't really be too surprised: these guys blow bubbles for a living. And they've repeatedly shown that their skill. Goldman, aka The Evil Empire, has broken out. FDX is on the cusp as are a host of other economically sensitive stocks and sectors. I keep hearing the volume is puny, but its really not that bad. And every H-S that has formed has been summarily smashed. What it looks like is the old ramp-consolidate-ramp with requisite dipsy doo on the end. Its always fascinated me how you get a consolidation and a fast plunge and then ramp right through to a breakout. Usually on that final plunge the bears think they are finally vindicated, only to have the juicy carcass ripped from their jaws with lightening speed. Anyway its set up phat and its all up to the bulls and some really stubborn/S&M loving shorts. There are still a lot of people shorting so any breakout will have their help. Just be ready for the usual 5 years in the wilderness ie looking like a putz, while some hair brained bubble inflates to the size of Jupiter. Make sure to grab some crumbs. My fellow Piltdowns, we’re a gnats eyelash from being blown out of the water. Shouldn’t really be too surprised: these guys blow bubbles for a living. And they’ve repeatedly shown that their skill. Goldman, aka The Evil Empire, has broken out. FDX is on the cusp as are a host of other economically sensitive stocks and sectors. I keep hearing the volume is puny, but its really not that bad. And every H-S that has formed has been summarily smashed. What it looks like is the old ramp-consolidate-ramp with requisite dipsy doo on the end. Its always fascinated me how you get a consolidation and a fast plunge and then ramp right through to a breakout. Usually on that final plunge the bears think they are finally vindicated, only to have the juicy carcass ripped from their jaws with lightening speed. Anyway its set up phat and its all up to the bulls and some really stubborn/S&M loving shorts. There are still a lot of people shorting so any breakout will have their help. Just be ready for the usual 5 years in the wilderness ie looking like a putz, while some hair brained bubble inflates to the size of Jupiter. Make sure to grab some crumbs.

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