Stockmarket February

[mynhair]

Sell everything.

And if you have retirement funds in the US, pull them out and take the tax hit.

http://www.zerohedge.com/article/treasury-soliciting-your-feedback-regarding-proposed-annuitization-401k

The Treasury does not solicit comments if it wasn't a done deal.
Does not need CONgressional  approval.

While you are dithering, try this:

http://www.youtube.com/watch?v=sfK8uMzkIK4&feature=related

[sidewinder]

mynhair, this has been on the wish list for some time now.  I know a little bit about Defined benefit Plans as the Government (PBGC) "seized" my DBP worth around 2 million to "Protect" me.  Although the fund was 87% funded.

Talk about commies, they take all the money, no matter the level of funding by different groups within a Company that cries BK and it goes into a single fund.  Then they fund to pay for the greater good of the greater number.  (my description)  In other words, some of the lower less vested groups got upwards of 100% of the normal entitlements of Retirements.  The talked of paying 90% to most groups even though their funding was at 50% or so.  Meanwhile the highest funded, (like yours truly) receive less than 40% payments on a fund that was 87% funded.

When first in BK court the PBGC testified initially, that the Company could afford to honor and fund our Defined Benefit fund .  The Company pleaded that it could not get exit financing unless it shed this obligation.  The Judge said the PBGC was right, the company could afford it.  Suddenly over a weekend before court the chairman of PBGC "resigned" (there are Three members appointed by the President".  Bush  appointed his replacement on a Sunday befor court on Monday.  The replacement was a man who had worked for our CEO at another company previously.  On monday the PBGC announced they were "seizing" our retirement fund.

This miscarriage of justice and decency is what AmeriKa has become.  That happened just 18 months prior to my retirement and it was impossible to work to some how recover as the same government would not allow me to do my job past age 60 so I was forced into retirement.  Then the PBGC notified me that the full retirement is based on working until age 65 and since I did not work to age 65, please note the percent of reduction on benefits based on the amount of years not worked.  Double whammy. 

The company was United Airlines, feel free to verify any of this.  I am not making this up this happened in this country built on the rule of law.  Just depends on who makes the law.  You control the politicians you control the law and have your way.  Justice has nothing whatsoever to do with it.

I was a pilot and the ICAO (International Civil Aviation Organization)  is basically a treaty which all major nations are signatory to ruled nearly two years prior to my retirement at age 60 that the age limit would be 65 for pilots in Commercial operations. (at the vote I think only the U.S. and Turkey were the only no votes in the entire world)   As a member of this organization the United States has obligated itself to obey and adhere to the rule set.  So they did, they allowed foreign citizens to operate Commercial Aircraft in the U.S. but did not change the law here until nearly two years later under great pressure and frankly knowing they were wrong.  In a nut shell I was forced out of my job having lost my retirement while the government allowed foreigners to operate in U. S. airspace.....

I am a veteran of two tours in Vietnam, and transported enough troops in Desert Shield,  Desert Storm and again in Operation Iraqi Freedom to man a Division of troops.  As I wrote one Senator, "I have good news concerning the Age 60 issue.  Vietnam veterans are now allowed to fly in the United States as Commercial Airline Pilots.  I as a Vietnam veteran applaud this advancement. However, those veterans are the NVA and Viet Cong veterans as the American's who fought for their country are excluded.  So much for a grateful nation.  The men in my family have served this country, willing to die to defend this country starting in the Revolutionary War with my 5th generation grandfather.  We have served in the Civil War, WWI, WWII, Korea, and Vietnam.  That tradition stops with me.  I serve as an example to my children, nephews and anyone else that would listen that a nation is great only because it is just and good.  When it ceases to be either it is not worth saving.  I pray I have broken this tradition. 

[mynhair]

SW,
That  is a frustrating story.  My condolences.

[MetalMeister]

Yeah, I echo those sentiments, though I had commented on it the other day but I don't see anything.  My intentions/thoughts were good and right with ya SW!

I'm just surprised those members of the P B G C board have not turned up lifeless somewhere.

People go POST OFFICE for far less in this land.

I'm surprised there was not a good ole boy from the sticks who grew up flying crop dusters then became and airline pilot and a NRA carrying/packing member that decided to put that creep out of everyone's misery.

A real shame.

[sidewinder]

YC, LOL  WHICH CREEP... as they say back home The wood are full of them. 

You would be astonished at the number of Pilots that have taken their own life over these issues.  Last I heard was 12 at my company.  I'm sure the BK which went down in a similar fashion at Delta, Northwest and US Air Produced a similar demographic. 

Had a friend who retired just before me also a Vietnam vet oft himself. 29 days after the forced retirement and pension loss.  You are covered by company benefits for 30 days and most of us had 6 times salary insurance which was quite substantial. We had talked about a week before his retirement and his daughter had been accepted to medical school.. He was very worried how to pay for this.  Wife divorced him just before retirement (lost her meal ticket) and he made daughter beneficiary then blew his brains out.   

[sidewinder]

Today's whackage places us on the precipice.  The Dow just could not maintain the important 10000 and closed just below it. 

I watched the mess unfold all day and it was truly interesting to watch it work its way down.  I have the audio on all day from the SnP pits to hear the action.  Everybody was making a killing shorting the market most of the day.  Many of the local traders went flat in the 1069 area and begin buying around the 1072 1073 level.  They had their A$$es handed to them as they got stuck long as the numbers drove the market down. 

I played the down side most of the morning and started scalping both longs and shorts off the 1 min chart.  Was a busy day, did not take lunch until the market closed.  Only made one mistake and that was looking for some push up near the close and got whacked a bit trying to bottom fish.  A guy told me once, all Bottom fishers eventually become lunch themselves.  Guess I need to tape that on on the computer screen.  Still made so much on the way down the transgression did not hurt too much.

I mentioned the other day the government taking a hands off approach to markets.  Looks like the afternoon "saviors" have shorted because they have not shown up in nearly two weeks.  One reason today did not have any bump is there was no one to left to cover their shorts as most had gone flat to light long after lunch.  I will admit that this does not look good for bulls right now much more of this, 1026is is a sure thing and then it "call in the dog and piss on the fire time".  Still not forgetting This is a miracle market though.   

[MetalMeister]

Can't remember if anybody has posted anything on this from a couple of weeks ago so here goes...

You do not want to miss this.

http://www.youtube.com/watch?v=cQyFxBG6dhY

How much of this "Bull" - shit since last March just been FED/government manipulation.

He mentions in the segment that last March Obama mentioned for everyone to start buying stocks that everything would be fine.

What I want to know is this all Obama and investment bank manipulation for the last year?

And here is an early January article talking about the prospect of the government buying stocks and Biderman is mentioned again:

http://www.globalresearch.ca/index.php?context=va&aid=16775

As I pointed out in December 2008, Nouriel Roubini wrote the month before that the government might buy U.S. stocks:

    The Fed (or Treasury) could even go as far as directly intervening in the stock market via direct purchases of equities as a way to boost falling equity prices. Some of such policy actions seem extreme but they were in the playbook that Governor Bernanke described in his 2002 speech on how to avoid deflation.

Given that Roubini was previously a senior adviser to Tim Geithner, he probably knows what he's talking about.

[jjj000]

been too busy working past couple days to do much chart watching.  That new low today doesn't bode well, that's for sure.

[sidewinder]

YC, I watch it happen every night.  That's why I mostly trade at night.  It's a little slower but, you can see it on the London open which is midnight for me. 

I heard rumor the State Street has a single trader who is locked in a room by his self and not allowed to discuss anything about his operation.  The Fed must be trading with government fund and their own IMHO.  Most of what the guy in the Video makes perfect sense to anyone who follows futures regularly, I get about 12-14 hours screen time daily.  Not making that up I watch the markets very closely.  I know it's nuts but I do enjoy every minute of it and the really great thing I can quit anytime I wish. 

Thanks for the link if for no other reason than the video on the right of the main vid.  the "Modern Girl" reminds me of "Home" in S.E.A....... I do miss the scenery in Asia need a road trip soon.   

[MetalMeister]

SW, I went back to the youtube link and watched the 10 second vid I think you were talking about...

I have had three Guangdong Province gfs in my days and all went very well just wrong timing.  So if you "S.E.A." anything I might like then let me know. 

Just kidding, actually I am in long distance talks with two in Asia (Guangzhou and the Phils) for a couple of months now.  I need to settle down before I get too old and I lose my scenery appreciation skills especially since the homeland stocks seem vastly depleted, if not permanently tainted and poisoned, to me.

Cheers!

[sidewinder]

Be very careful my friend.  I am familiar with those locations and have witnessed many bad thing happen to unsuspecting foreigners in the love business.  I have much to say on the subject but if you have question or better yet, email me before you get in any way shape of form "involved". 

With a little capital you can live quite well in many locations such as you mentioned, but I warn you someone is always keeping an eye on the gold so to speak.  This is almost without exception. 

[Depleted]

Won't bore with the charts...
The Techincals indicated Gold,Silver topping December 3rd, Platinum on Jan20th.
Also $CDW topped Jan 14th, USD Bottomed November 25th...This was a good signal for the Gold, Silver, Minerals Selloff.
Most indices showing tops across the board Jan 11 to Jan 19th...This is Everything, except, $NATGAS (Gas bottomed Sept 4/09 and now in uptrend)
Got $NATGAS? No one here seems to like it much, but I am sure there are some really good plays out there...

GLTA...Hold on to your hat, Here we gooooooooooooo.......................................
Regards, D 

[onlooker]

From YC, Feb 4:

You do not want to miss this.

http://www.youtube.com/watch?v=cQyFxBG6dhY

In this video, Charles Biderman, CEO of TrimTabs Investment Research is talking about the Plunge Protection Team (PPT) without ever mentioning this name.

From SW, Feb 4:

I mentioned the other day the government taking a hands off approach to markets.  Looks like the afternoon "saviors" have shorted because they have not shown up in nearly two weeks. 

This Friday afternoon, the DOW built itself upwards from a low of about 9845 to just over 10000.  It looks like the PPT was back just before closing time to save the markets.   Whew! 

[sidewinder]

I watched it happen.. Right out of nowhere..   Bam!  quants hit it hard and triggered a short covering.  Bet the phones at the Fed were busy this morning. 

[sidewinder]

Here ya go.  Have not seen any of this for last two weeks.  It is quite apparent when you are watching the tick charts and viewing the flow of the market live, Real Time.  You don't see the 25 points of carnage (250 on DJI). What you get is the news that the S&P was down 3 points ... ho hum.   It's not like that from my perspective, last two days we were on the brink.  Having said that and what is happening we may just take a hell of a bounce, once again sending the message;  see you better take advantage of these pullbacks.  Who knows, I just trade it, not married to it but, sure is fishy to me. 


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