Greece, pull your gut in.

isnt there a saying, sell in may and go away?

I'd say now is a good time to buy.. we rebounded nicely from the 4500 support.

I was buying some nice bargins today

 

What did you buy, if you don't mind me asking?





Johny.

 

mainly banks, etc, 'blue chip' stuff.

the SPI 200 futures is up 57 points as of now, so it looks like tomorrow will be another happy day. I recon I may have picked this bottom. although I did want to buy closer to 4500, but wasn't sure if we would rebound or not so held back, as market did temporary break 4500. so ideally friday open or at close was the perfect buying time.

I did buy this morning, so got in when market was up 60 points.. but continued to rally throughout the day to close 114 points up which was nice

 

I wasn't expecting the all ords to jump 2.5% today. What I want to know is: where did this $1000,000,000,000.00 come from? I assume if its borrowed money it will need to be repayed. This is getting a bit silly!




Johny.

 

it comes from thin air.. printing presses are hot! devaluing citizens hard earned..

it will never be repaid.. its called enslavement.. but thats another topic

 

I wouldn't mind some imaginery numbers adding to my bank account. Then I could buy some thin air hiking shoes I've been looking at.



Johny.

 

Unfortunately payday isn't until next monday. Who knows what will happen in a week. I wonder whether we will get sideways tracking (with a lot of volativity). Also the budget and mining tax will have their effect.




Johny.

 

Futures DOW at the moment = + 360 !
So, we should expect a sunny day tomorrow.
Dow at the moment = + 450 !

 

Thats a bounce!





J

 

It won't need to be repaid because it will never be used. What it does is send out a very strong message to the speculators that "if you try to bring down the Euro you will end up losing your shirt", which is precisely what has happened to the bond vigilantes today.
They are saying that the money is there if we need it, so don't even bother trying.
The predatory actions of hedge funds and the Goldman Sachs of this world need to be reined in as quickly as possible to prevent events such as this happening with ever increasing frequency. There is no doubt that western governments need to implement austerity plans to cut their deficits. If they can do this, together with improving economic conditions, it is possible to get out of this mess.

 

Time will tell...

 

yep happy day for me today!! bought up big yesterday morning!

yay!

but we wont see all that gain today as we ended up 2.4% up yesterday ourselves.

when people 'sell in may and go away' I come in and buy bargains!

 

"....happy day for me today..."

Enjoy...and be seated first when the music stops.

"when people 'sell in may and go away' I come in and buy bargains!"

Beware of old dealing myths: Go away in May
Beware of old dealing myths: Go away in May

 

Well from what I have read they are "saying" they will "raise" the money rather than print it, but if you raise money by selling other assets (let's just say they own US Treasuries) all that does is transfer the asset deflation crisis elsewhere (as in it would cause a run on US treasuries if they flood the market). So how they "raise" the money matters.

They could also look to raise money from nations that aren't completely bankrupt (via taxation), but given that countries like Germany were unwilling to pay for bailouts of a few billion I find it unlikely they are going to want to contribute to a backup bailout plan of over a trillion.

So I find it hard to believe they are going to be able to "raise" the money without printing. But of course they are going to talk a big game until the market calls their bluff.

So the important thing to realise is this is all still just a short term fix - the medium to long term out look is just as ugly if not worse, but their logic is if they can just buy themselves some time they can start doing the right thing, but it's pretty hard to start doing the right thing when you grant yourself the opportunity only by doing the wrong thing first.

They that can give up essential liberty to obtain a little temporary safety deserve neither liberty nor safety. ~ Benjamin Franklin.

Last time I checked all the debt ridden countries that have caused this crisis (not the speculators) are still bleeding money from budget deficits. The major PIIGS and UK don't even have any credible plan or intention of returning to budget surplus in the next couple years, and that guarantees they won't.

Truth be told - $1 trillion probably won't be enough if they continue on their current path.

It sends even a stronger message to government bureaucrats, we can't afford to let you fail so we are preparing to bail you out, which is crazy talk given that there is no lazier or self interested creature than a bureaucratic politician. So rest assured they will all opt for the bailout over tightening their belt and losing votes every time.

I agree more should be done to regulate firms like Goldman Sachs to get them to do something productive for society, but they are not they problem. They are just a sympotom of the problem.

The problem is the squandering of tax revenues and debts by big inefficient and ineffective governments along with societies becoming lazy and dependant on welfare and cheap credit which they use ineffectively. That's the real problem, Goldman Sachs is just capitalising on it.

At this point those are some incredibly big "ifs". When you get as indebted as some of these nations are (and not just at the government level but at all levels of society) it becomes virtually impossible to avoid default.

I'm not saying it's not possible, but when the light at the end of the tunnel is so far away that you can't even see it our human nature just tells us to admit defeat.

Yes it will...

 

I will enjoy.. cause my entry is a long term position. not a short term gamble.

I'm sure in a few years time, the profits will be nice.. No one can predict short term movement.. but buying in corrections is a good time to top up.

 

No one can predict short and long term movement.
I would not count money which is not in my bank account.
Oh yes...what correction are you talking about...???

 

For the market to drop, like it has today, shows there is still fear in peoples minds. The longer this all plays out, the lower confidence gets. It must have ****** inventors off, after the depression, for the market to take 20 years to return to previous highs.

What will happen next? It just like sands in a hour glass......




Johny.

 

I think you should have bought during the GFC if you are thinking long term....
What we see now is a pure speculation and manipulation of markets and that is to sack money out of less savvy investors.

 

Better to die from a bullet than working ...

Better to die from a bullet than working: That is the mantra of pampered, lazy Greek rioters used to living off the state

Better to die from a bullet than working: That is the mantra of pampered, lazy Greek rioters used to living off the state | Mail Online

 

Does any one knows how much the "lazy" Greeks pay each year to restore priceless arts and archeological sites - so we can call it "our civilization" ?

And yes, there was that pressure on "lazy" Greeks to deliver Olympic games. No one questioned at the time if 11 mil people can afford it, as long as we were entertained.

"The Rome was burning but we were dancing"