THE DOT - if this turns orange or red be alert

Monday, February 2, 2009

Obama speaks strong words but his actions are purely the opposite

Well I agree to what the following source claims which is troıubling as Obama says the right words but his actions do not support them at all - Summers, Geithner, Dudley are part of the problems we have in the FINANCIAL SYSTEM AND GLOBAL ECONOMY. Hiring them is a gravewrong call by any angle. The matter of fact that Senator Schumer represented Geithner in the hearings as the right man for the job is himself the biggest lobbyist for thebanking and part of the problem. Interesting in this situation is that Schumer publically doubled the 'bad bank' seize to 4 trillion I think you might imagine why he did that not because he is a thoughtful observer.
Jamie Dimon playing the Jesus card in Davos is cynical by taking all blame on American Banks in an ironic approach to turnaround the momentum was a cheap charade as it is to pull the anti-semitic card what some jewish groups do these days thats a dispicable and cynical way to gain some momentum. This Madoff scharade is part of it as most charities especially the Jewish ones had the profits paid out to them over time the billions went somewhere after all. Well after 11-12 % being paid out after 7 years your basic capital is back on your books so some of the long term investors did not loose real money after all only the new set up fund of fund investors paid the bill finally as they just paid in and as none charity did not need pay outs. I am sure a real investigation would produce amazing results.
Obama claims the bonus payments as schameful which is the least one can say but talk is cheap his chief of stuff Emmanuel received for 2 years at a second tier investment bank (Dresdner Kleinwort Benson) a double digit million Dollar bonus for being a 2 year banker that is basically impossible to achieve - the choices of Obama contradict his words by 100 % - why is there not a committee analysing the deliberate wrong doing of Paulson - even Soros admitted that the first 350 bil were just thrown out of the window - thats a nice way to put it. That was one of the biggest legal robberies of taxpayers ever and thats not the end of that story - the upcoming trillions for the so called ^bad bank' will be wasted as well at the end.

Excerpt
Alchemy Of Trading LLC

The Week: February 2, 2008
_____________
This week Bridgewater Associates -- and Rosenberg of Merrill -- broached the subject of the almost unthinkable: Depression
Why can't we get out of this mess the world markets are mired in?

This is why -- William Dudley supported the crazy policies of Greenspan and was named to the important job as head of the New York Fed.

If that's not enough, you have a tax "avoider" named as Treasury Secretary.

I could go on with examples, and so could you I'm sure.

We need a clean sweep of so many things in this country, and we're not going to get it.

The Congressional hacks, thieves, drunks, and perverts are trying to load tons of pork into that stimulus bill.

Why?

Firing squads are much more necessary to the job at hand, and whether they are virtual or real, we need new blood.

The equity markets act badly, "crazy" in the full sense of that word, because no one trusts what may come next.

But I will say this: if the authorities announced an honest program to cleanse the Banks of all that bad paper, deal with the debt outstanding that we know will never be paid back, the DJIA would rally 1,000 points in a couple days.

Meanwhile, Precious Metals and HMOs are two of the best looking sectors, yet they can be up or down 3-8% on any given day, and you better buy them at the right price and also consider trading them short-term.
I continue to sit mostly in cash, and will do that until things get better.
Good luck to you in the coming week
Stephen Vita




Other Views
"With our models in a negative mode, our advice is to stay on the sidelines in money market funds. Alcoa, which unofficially kicks off the earnings season as the first Dow component to report, might have set the tone. Alcoa said it lost $1.2 billion compared to a gain of $632 million a year ago.
At the moment, we are ten trading days into the New Year and all the major indices are under water. The S&P Small Cap Index (-8.76%) is leading the way down." -- Dan Sullivan's, The Chartist, 1/20/09
Short-Term Signal
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HMOs
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6888



7979
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