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post #1 of 67 (permalink) Old 03-23-2009, 02:43 PM Thread Starter
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Dow and S&P soar... Thoughts

Okay, haters. What do you have now? Details of the plan are coming out, and the market seemed to like it. Financials had a great day. Are you still ready to throw stones??? I haven't read through everything, but I like the idea of private sector getting involved.

http://articles.moneycentral.msn.com...0323&GT1=33009

Dow jumps 497 on bank plan, home sales

Stocks enjoyed their biggest day since last fall and hit their highest levels in more than a month, thanks largely to positive reaction to Treasury Secretary Tim Geithner's $1 trillion plan to help banks get rid of bad assets.

The Dow Jones industrials soared 497 points, or 6.8%, to 7,776. The Standard & Poor's 500 Index was up 54 points, or 7.1%, to 823, and the Nasdaq Composite Index was up 99 points, or 6.8%, to 1,556....

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post #2 of 67 (permalink) Old 03-23-2009, 02:45 PM
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So are you saying "we're cured"? It's still down about 5500 for the year...

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post #3 of 67 (permalink) Old 03-23-2009, 02:45 PM
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Closed at 7776. What was it at the day Obama took office?

I just looked it up.

obama nominated June 3rd - 12402
obama elected November 4th - 9625
obama sworn in January 20th - 7949
obama announces more charity for banks March 23rd - 7776

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post #4 of 67 (permalink) Old 03-23-2009, 02:53 PM
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post #5 of 67 (permalink) Old 03-23-2009, 02:54 PM Thread Starter
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So are you saying "we're cured"? It's still down about 5500 for the year...
I'm not saying we're cured at all. I'm saying that the plan seemed to have some show of support today and that I liked the few parts of it I've read about so far. That's all. Oh, and I only think it's down about 1200 since election, no?

Don't go putting words in my mouth!!!

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post #6 of 67 (permalink) Old 03-23-2009, 02:56 PM
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You got us, I guess Obama really is a genius.
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post #7 of 67 (permalink) Old 03-23-2009, 03:02 PM Thread Starter
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Closed at 7776. What was it at the day Obama took office?
Closed at 8228 I believe -- a 279 point gain from the day before. Not bad considering the bleakness handed to him from the last in office. I'm withholding my judgement for now. I want to be fair and support the POTUS like a good American.

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post #8 of 67 (permalink) Old 03-23-2009, 03:03 PM Thread Starter
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You got us, I guess Obama really is a genius.
Easy now, Big Al. As I said above you, don't go putting words in my mouth. I just wanted to know what everyone thought now that we are finally hearing details of the plan. You can't deny that at least right away, the market liked it. We'll see what happens long run, but I'm sure many people enjoyed the ride today.

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post #9 of 67 (permalink) Old 03-23-2009, 03:08 PM
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Easy now, Big Al. As I said above you, don't go putting words in my mouth. I just wanted to know what everyone thought now that we are finally hearing details of the plan. You can't deny that at least right away, the market liked it. We'll see what happens long run, but I'm sure many people enjoyed the ride today.
I think "the plan" is bullshit as it is right now.

Of course, that's all we've had since Jan 20th so....
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post #10 of 67 (permalink) Old 03-23-2009, 03:15 PM
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I'm showing a high of 7780.72 today ...

Everything I am hearing is saying we are suppose to test 6200 since it did not hold 6500 . I've got a couple thousand $ worth of SKF hoping they are right . Lets see ...
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post #11 of 67 (permalink) Old 03-23-2009, 03:28 PM
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i think you are being duped.big brother manipulating the market to make people like you jump for joy.

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post #12 of 67 (permalink) Old 03-23-2009, 03:29 PM
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I'm not saying we're cured at all. I'm saying that the plan seemed to have some show of support today and that I liked the few parts of it I've read about so far. That's all. Oh, and I only think it's down about 1200 since election, no?

Don't go putting words in my mouth!!!
In another thread it was brought out that in May, Barry had an insurmountable lead for the Dem candidate. At that point, the market was over 13K, and has dropped ever since, with some saying it was in anticipation of him becoming POTUS. That's what I was refering too...

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post #13 of 67 (permalink) Old 03-23-2009, 03:38 PM Thread Starter
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I think "the plan" is bullshit as it is right now.

Of course, that's all we've had since Jan 20th so....
So you've already read over and are informed on the new plan details released? Great, fill us all in. I can agree that Obama has been shoveling quite a bit of shit, but look what the hell he stepped in after Bush's tenure. You can't just let it keep sitting -- you have to shovel it out.

From what I've read/seen of the plan, I like the private sector part as I stated above. I also found it interesting in reading that Obama stated that taxing the bonuses of the financial employees whose companies receive stimulus money could be unconstitutional -- this despite the fact media and his own party are calling for heads to roll and a 90% plus tax rate. Rome wasn't built nor destroyed in a day. The country needed something different. I personally don't believe Obama was/is the answer, but I'm willing to give it a try since he is the elected leader. It's obviously better than Bush and whatever the Repubs ran out against him, or this discussion would be over someone else.

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post #14 of 67 (permalink) Old 03-23-2009, 03:41 PM Thread Starter
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In another thread it was brought out that in May, Barry had an insurmountable lead for the Dem candidate. At that point, the market was over 13K, and has dropped ever since, with some saying it was in anticipation of him becoming POTUS. That's what I was refering too...
Is that the reason we started downhill or was it because the market had already hit a pinnacle. Do you think all those bad loans were made to come due exactly when Obama would be coming into office? I'm sure GM, Chrysler, and all the banks too just up and made bad decisions from that point forward as ell. That's a stretch to me to say it's all because of Obama's gaining the Dem candidacy and possibly becoming POTUS. The market was going to collapse. It just happened to coincide/be spurred on by the election/results. You don't honestly think we wouldn't have had a meltdown if McCain had won do you?

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post #15 of 67 (permalink) Old 03-23-2009, 03:49 PM
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Is that the reason we started downhill or was it because the market had already hit a pinnacle. Do you think all those bad loans were made to come due exactly when Obama would be coming into office? I'm sure GM, Chrysler, and all the banks too just up and made bad decisions from that point forward as ell. That's a stretch to me to say it's all because of Obama's gaining the Dem candidacy and possibly becoming POTUS. The market was going to collapse. It just happened to coincide/be spurred on by the election/results. You don't honestly think we wouldn't have had a meltdown if McCain had won do you?
I'm not saying that at all. McCain had no magic bullet, but I do know that the market is a "forward thinking" entity, and they feared Obama a lot more than McCain.

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post #16 of 67 (permalink) Old 03-23-2009, 03:52 PM Thread Starter
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I'm not saying that at all. McCain had no magic bullet, but I do know that the market is a "forward thinking" entity, and they feared Obama a lot more than McCain.
I'll agree with that -- because of so much being unknown just as it has been so far. I'm curious to see reactions as "the plan" continues to be released. Like I said, I'm not sold, but I do like some of what we're FINALLY hearing. I'm crossing my fingers. I know most companies, just like mine, could use the shot in the arm.

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post #17 of 67 (permalink) Old 03-23-2009, 03:55 PM
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I'll agree with that -- because of so much being unknown just as it has been so far. I'm curious to see reactions as "the plan" continues to be released. Like I said, I'm not sold, but I do like some of what we're FINALLY hearing. I'm crossing my fingers. I know most companies, just like mine, could use the shot in the arm.
Hell, we could all use a shot in the arm...I just don't want $8 a gallon milk AND gas, when we start paying that trillion back.

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post #18 of 67 (permalink) Old 03-23-2009, 03:58 PM Thread Starter
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Hell, we could all use a shot in the arm...I just don't want $8 a gallon milk AND gas, when we start paying that trillion back.
That's why I like the private sector part of what I saw. Let some company take the risk and either get burned or get rich.

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post #19 of 67 (permalink) Old 03-23-2009, 03:59 PM
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Sorry Juice, I couldn't hear what you said, the half black cock jammed in your throat slurred your speech.

1/19/09, the last day of Free America.
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post #20 of 67 (permalink) Old 03-23-2009, 04:02 PM
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post #21 of 67 (permalink) Old 03-23-2009, 04:02 PM
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Sorry Juice, I couldn't hear what you said, the half black cock jammed in your throat slurred your speech.
Damn!

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post #22 of 67 (permalink) Old 03-23-2009, 04:50 PM
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From what I've read/seen of the plan, I like the private sector part as I stated above.


How can you like the private sector part of it when they haven't figured out the biggest problem which is... how to incentivize private investors to buy this junk debt?
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post #23 of 67 (permalink) Old 03-23-2009, 07:44 PM
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Closed at 8228 I believe -- a 279 point gain from the day before. Not bad considering the bleakness handed to him from the last in office. I'm withholding my judgement for now. I want to be fair and support the POTUS like a good American.
If he was doing the right thing I would support him too.

I'll give you my simple minded example...

The wifey and I are both working, have a new house, have a couple cars, a few credit cards, cell phones, cable, high speed internet and we eat out regularly....

She gets laid off and cant find a job.

What should we do,

A. We need to control the damage. Start cutting cost by reducing or eliminating cable, cell phones and eating out. She takes a part time job and draws unemployment looking for a full time job. We reduce all unnecessary spending until we have cash flowing back in.

B. Say the hell with it, we really need cable, cell phones and restaurants and use our credit cards. As a matter of fact, I think I need more channels, a bigger cell plan and I want steak three times a week.

So lets see, which one did Obama and his pals choose?

Yeah there was a rally on the stock market and I'm sure anytime Daddy Warbucks Obama whips out his credit card, it will happen again. But guess what, Obama and all these happy people aren't paying his credit card bills.

You and I are...
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post #24 of 67 (permalink) Old 03-23-2009, 07:50 PM
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post #25 of 67 (permalink) Old 03-23-2009, 08:05 PM
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Okay, haters.
Haters? Some of us are realists. I do not cheerlead the market up or down. A day does not make a trend, the S&P is still down 9% YTD. I play the fundamentals. I don't see anything in the economy turning positive yet.
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post #26 of 67 (permalink) Old 03-23-2009, 09:21 PM
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Should I be surpised ?





Posted on March 6 when all the pikers were calling for the dow to go to 5000.



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The Dow will rally to 7850 this year .




We will get a pullback from 7800-7900 to 7100 and still have a good shot of making a lower low around 6200 in the next 68 days.

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post #27 of 67 (permalink) Old 03-23-2009, 09:35 PM
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Who left the hot stinkin' turd on Obama's desk?? Geez, Buuuuuusssshhhhhh waaaasssss Preeeeessssiiiiddeeeeeennnnt fooooor thhheee lasssssst eeeeeiiiiiiiigggghhhht yeeeeeaaaaarrrrrssssss. Slow it down and play it back until you understand that Obama just took office to clean up one mighty mess.

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post #28 of 67 (permalink) Old 03-23-2009, 09:53 PM
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Who left the hot stinkin' turd on Obama's desk?? Geez, Buuuuuusssshhhhhh waaaasssss Preeeeessssiiiiddeeeeeennnnt fooooor thhheee lasssssst eeeeeiiiiiiiigggghhhht yeeeeeaaaaarrrrrssssss. Slow it down and play it back until you understand that Obama just took office to clean up one mighty mess.
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Obaaaammaaa Issss theee presssideentt fooorrr theee neeextt ffooourrr yeaars. And has already spent 2.5 TRRRRIIIILLLLIIIOON DOLLARS! Quit blaming bush and get to fucking work practicing what you preach you liberal dumbfuck!
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Who left the hot stinkin' turd on Obama's desk?? Geez, Buuuuuusssshhhhhh waaaasssss Preeeeessssiiiiddeeeeeennnnt fooooor thhheee lasssssst eeeeeiiiiiiiigggghhhht yeeeeeaaaaarrrrrssssss. Slow it down and play it back until you understand that Obama just took office to clean up one mighty mess.
I've heard retards talk slow before but I've never seen one type it out like that.

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post #30 of 67 (permalink) Old 03-24-2009, 01:58 AM
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post #31 of 67 (permalink) Old 03-24-2009, 04:34 AM
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Should I be surpised ?





Posted on March 6 when all the pikers were calling for the dow to go to 5000.









We will get a pullback from 7800-7900 to 7100 and still have a good shot of making a lower low around 6200 in the next 68 days.
You still here? LOL!

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post #32 of 67 (permalink) Old 03-24-2009, 04:35 AM
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Who left the hot stinkin' turd on Obama's desk?? Geez, Buuuuuusssshhhhhh waaaasssss Preeeeessssiiiiddeeeeeennnnt fooooor thhheee lasssssst eeeeeiiiiiiiigggghhhht yeeeeeaaaaarrrrrssssss. Slow it down and play it back until you understand that Obama just took office to clean up one mighty mess.
You need to double that dose of Lithium you're on, and try to get back to reality...

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post #33 of 67 (permalink) Old 03-24-2009, 06:00 AM Thread Starter
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If he was doing the right thing I would support him too.

I'll give you my simple minded example...

The wifey and I are both working, have a new house, have a couple cars, a few credit cards, cell phones, cable, high speed internet and we eat out regularly....

She gets laid off and cant find a job.

What should we do,

A. We need to control the damage. Start cutting cost by reducing or eliminating cable, cell phones and eating out. She takes a part time job and draws unemployment looking for a full time job. We reduce all unnecessary spending until we have cash flowing back in.

B. Say the hell with it, we really need cable, cell phones and restaurants and use our credit cards. As a matter of fact, I think I need more channels, a bigger cell plan and I want steak three times a week.

So lets see, which one did Obama and his pals choose?

Yeah there was a rally on the stock market and I'm sure anytime Daddy Warbucks Obama whips out his credit card, it will happen again. But guess what, Obama and all these happy people aren't paying his credit card bills.

You and I are...
Bad example. Your concern is yourself whereas our government is trying to save the economy and everyone. Doing nothing is simply going to plunge us further into recession and eventually a depression. They are trying to intervene and make things better from the eight year mess they inherited. Oh, I'm sorry, you guys tend to forget that. Also, you aren't paying more in income taxes. The plan called for cuts there too for a majority of citizens. Tell me again how YOU are paying for this...

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post #34 of 67 (permalink) Old 03-24-2009, 06:23 AM
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Bad example. Your concern is yourself whereas our government is trying to save the economy and everyone. Doing nothing is simply going to plunge us further into recession and eventually a depression. They are trying to intervene and make things better from the eight year mess they inherited. Oh, I'm sorry, you guys tend to forget that. Also, you aren't paying more in income taxes. The plan called for cuts there too for a majority of citizens. Tell me again how YOU are paying for this...
All they are doing is patching up a high-pressure fuel line with masking tape...we're going to pay in the end. Big time.

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post #35 of 67 (permalink) Old 03-24-2009, 07:04 AM
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post #36 of 67 (permalink) Old 03-24-2009, 07:10 AM
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That's why I like the private sector part of what I saw. Let some company take the risk and either get burned or get rich.
at this point the private sector idea is just that...an idea. you can say whatever you want but you can't force anyone in the private sector to jump on board. they're going to have to make all kinds of incredible incentives for private money to start flowing toward "toxic assets". it cracks me up that on one hand they're calling them "toxic assets" and "illiquid assets" and on the other hand they're begging everyone to buy them. that's like the salesman at the used car lot trying to sell you a car by telling you how much of a piece of junk it is. anyway, the only way that anyone in the private sector is going to jump on board is if they're getting these investments for pennies on the dollar or the government gives out some huge incentives to offset the obvious risk.
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post #37 of 67 (permalink) Old 03-24-2009, 07:56 AM
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Bad example. Your concern is yourself whereas our government is trying to save the economy and everyone. Doing nothing is simply going to plunge us further into recession and eventually a depression. They are trying to intervene and make things better from the eight year mess they inherited. Oh, I'm sorry, you guys tend to forget that. Also, you aren't paying more in income taxes. The plan called for cuts there too for a majority of citizens. Tell me again how YOU are paying for this...
Are you actually so out of touch with reality that you think all of this will be paid for without a tax increase to everyone? Do a little research and stop making yourself look like a fool. You can start over at IRS.gov. Go read the statistics in regard to people who make over 250K a year.

Your taxes will be raised, my taxes will be raised. Unless you are living in a cardboard box at the end of 2010 you will pay higher taxes. The best part for the liberal dumbfucks that are running this country is that they don't have to "raise" anyone's taxes. All they have to do is let the tax cuts that Bush put in place expire and we all get fucked just from that one change. Oh, don't worry, there will be more on top of that, they'll add more. You don't run up trillions in debts and just have it go away overnight. The liberal philosophy is that they know how to spend your money better than you do. I have a feeling that you are going to get educated on exactly what that means.
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post #38 of 67 (permalink) Old 03-24-2009, 08:17 AM
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Well I expect some profit taking here shortly . I just sold off my PIR at $.85 a share . I had been averaging down and the last stuff I bought was $.15 a share . I just don't see anything positive right now to hold on to some of these positions that run 30-100% gains . I am going to hold DRYS since I bought it @ $3.93 for a little longer just in case we get a serious run in it .
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post #39 of 67 (permalink) Old 03-24-2009, 10:19 AM
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Originally Posted by AL P View Post
Are you actually so out of touch with reality that you think all of this will be paid for without a tax increase to everyone? Do a little research and stop making yourself look like a fool. You can start over at IRS.gov. Go read the statistics in regard to people who make over 250K a year.

Your taxes will be raised, my taxes will be raised. Unless you are living in a cardboard box at the end of 2010 you will pay higher taxes. The best part for the liberal dumbfucks that are running this country is that they don't have to "raise" anyone's taxes. All they have to do is let the tax cuts that Bush put in place expire and we all get fucked just from that one change. Oh, don't worry, there will be more on top of that, they'll add more. You don't run up trillions in debts and just have it go away overnight. The liberal philosophy is that they know how to spend your money better than you do. I have a feeling that you are going to get educated on exactly what that means.
AL, we live in a "right now" society, and that's what's killing us all. Save the cash for the flat screen? Fuck no! I want it NOW! That sofa? I want it NOW! Fidel Obama is no different. He wants it all done NOW. We will all pay a hefty toll for this shit, and it will be sooner than we think.

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post #40 of 67 (permalink) Old 03-24-2009, 07:45 PM
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On a side note , has anyone seen the nudes of Obama's mama floating around in emails ? My uncle got the email today and I guess they are real but who knows now days with photshop .
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post #41 of 67 (permalink) Old 03-24-2009, 07:48 PM
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Originally Posted by thesource View Post
On a side note , has anyone seen the nudes of Obama's mama floating around in emails ? My uncle got the email today and I guess they are real but who knows now days with photshop .
hmmm..... amazing what google can bring.

http://cache.gawker.com/assets/image...81022obama.jpg
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post #42 of 67 (permalink) Old 03-24-2009, 07:50 PM
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Man...I had some bad thoughts about what's off-camera at the rear...

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post #43 of 67 (permalink) Old 03-24-2009, 07:52 PM
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Originally Posted by TheAsp! View Post
Who left the hot stinkin' turd on Obama's desk?? Geez, Buuuuuusssshhhhhh waaaasssss Preeeeessssiiiiddeeeeeennnnt fooooor thhheee lasssssst eeeeeiiiiiiiigggghhhht yeeeeeaaaaarrrrrssssss. Slow it down and play it back until you understand that Obama just took office to clean up one mighty mess.
Speaking of hot stinkin' turds, Clinton got the bottom-feeder mortgage mess started for us you igggggggnnnnnnnoooooorrrrrrrraaaaaannnnnnt stttttttoooooooogggggggge.
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post #44 of 67 (permalink) Old 03-24-2009, 07:56 PM
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How can you like the private sector part of it when they haven't figured out the biggest problem which is... how to incentives private investors to buy this junk debt?
Actually they have - the Gov is going to pay .93 of every dollar the "investor" buys of the Toxic stuff .. by the way this is a "loan" (that doesn't have to be paid back by the investor) so it is not a bail out ... Just our Gov helping the Investor that they so hate ....

So as an investor you will have .07 in the investment, the rest is our Gov $'s ... or should I say yours and my tax dollars at work .....

As bad as some of those loans are - I would guess they are still worth at least .07 on the dollar - even with "mark to market" accounting ... and heaven forbid if we moved back to 5 or 3 year asset valuations .... some one is going to get rich off this and it is not you or I ....

Fuck the Politicians!
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post #45 of 67 (permalink) Old 03-24-2009, 07:56 PM
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Originally Posted by Vertnut View Post
Man...I had some bad thoughts about what's off-camera at the rear...
She does look a little "surprised".

Dallas news reports Tony Romo tried to commit suicide last night!

Fortunately he dropped the gun and the bullet was intercepted!
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post #46 of 67 (permalink) Old 03-24-2009, 07:56 PM
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hmmm..... amazing what google can bring.

http://cache.gawker.com/assets/image...81022obama.jpg
There is a series of those pictures so maybe they are indeed real .
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post #47 of 67 (permalink) Old 03-24-2009, 07:59 PM
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Originally Posted by Vertnut View Post
AL, we live in a "right now" society, and that's what's killing us all. Save the cash for the flat screen? Fuck no! I want it NOW! That sofa? I want it NOW! Fidel Obama is no different. He wants it all done NOW. We will all pay a hefty toll for this shit, and it will be sooner than we think.


And the 350k house that Vertnut builds ? Save the cash for that too ?


We survived the late 70's with inflation and this time will be no different.

Republicans drove the car off the cliff and democrats had to do all of the work getting it back out of the ditch

Great spirits have always encountered violent opposition from mediocre minds at dfwstangs.net

MONEY NEVER SLEEPS

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Originally Posted by slow99 View Post
When you pull in 20 million percent a year like BULLET, you have your share of 5 and 6 figure days!

GENUFLECT TO THE BULLET




FACTS ARE LIKE ACID TO THE SKIN OF REPUBLICONS
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post #48 of 67 (permalink) Old 03-24-2009, 08:02 PM
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My SKF May 09 $150 call option I bought this morning for $860 went up to over $1100 today . I'm hoping for some more profit taking this week and maybe I can rake in some more cash on it before jumping out .
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post #49 of 67 (permalink) Old 03-24-2009, 08:06 PM
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Originally Posted by thesource View Post
My SKF May 09 $150 call option I bought this morning for $860 went up to over $1100 today . I'm hoping for some more profit taking this week and maybe I can rake in some more cash on it before jumping out .



Dow 7100 is the next objective.

Republicans drove the car off the cliff and democrats had to do all of the work getting it back out of the ditch

Great spirits have always encountered violent opposition from mediocre minds at dfwstangs.net

MONEY NEVER SLEEPS

Quote:
Originally Posted by slow99 View Post
When you pull in 20 million percent a year like BULLET, you have your share of 5 and 6 figure days!

GENUFLECT TO THE BULLET




FACTS ARE LIKE ACID TO THE SKIN OF REPUBLICONS
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post #50 of 67 (permalink) Old 03-24-2009, 08:13 PM
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Dow 7100 is the next objective.
That should take SKF to around $120 or so . Hopefully it will take that call option to around $2000 .
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