Oh I get to them all Donald, it just takes too long on a daily basis!
Saifl - Obviously you are too lazy to do your own research or just like misleading people with your ridiculous comments. Facts are here: in.reuters.com/article...
I would suggest you go and do some research next time before embarrasing yourself again but your "body of work" speaks for itself: seekingalpha.com/user/...
It is interesting to see the same people appear over and over again in rabid defense of certain positions. Nonetheless, you have inspired me to write up a primer for how oil is mainipulated through the buying and selling of relatively few contracts, I think it would be helpful for people to understand and something we can get before Congress when they reconvene next week.
Thanks junk! Yes, who is right, the Japanese did not cause runaway commodity prices by trashing their currency and they were getting paid with what was, at that time, the world's best currrency which they would use to buy steel and such to make more cars and such...
What we are doing, and I wrote an article called "Burn dollars to fight gravity" which you will like, is printing up more and more dollars in order to get ourselves out of debt but the energy speculators siezed on this plan (that was hatched by GS former CEO Paulson and taken advantage of by GS currently) to divert all those extra dollars into commodities, tripling the price of commodities on a 40% decline in the dollar. That still net's out to them as an inflation-adjusted 100% increase in what they get for the commodities.
Also, what's really great is that we get nothing of lasting value for out dollars since this country produces virtually nothing (other than homes, which they crashed first to put a stop to it) so we are spending and spending and spending and accumulating no assets for it and the government goes further and further into debt to keep the whole charade going.
In the end, GS/MS et al hope to be the last men standing when they pull off the deal of the century and broker the restructuring of our $10Tn national debt as our creditors fear we will slip into bankruptcy. They could easlily collect a $250Bn fee for that and eliminating BSC and LEH along the way (and C if they can) means that pot will be split less ways.
Cash is good Blink, we're mainly cash and giving it to earnings to see if we can break oil and get some good news, otherwise it's off to Vegas to do some real gambling!
Al - Yes, two weeks ago (6/13) I called a bottom. I also shamefully called a top in September at about 13,800 and 3 weeks later we went over 14,000 where I continued to say we were too high and people just like you (was it you) said the same kind of things.
Since we run diversified portfolios on our site, it isn't the sort of thing we shift on a dime from day to day. We have actually committed very little additional cash this month despite my desire to as we look for a proper bottom but if it somehow satisfies you to say "wrong, wrong, wrong"
I don't know what your deal is - clicking on your name shows that in Aug '06 you said "Phil, Thanks for your response. I have been enjoying your posts for almost a year now. You have lots of good ideas and a refreshing take on things. Hope you keep them coming. Aug 20 06:54 PM"
I guess you must have lost your smart ass on Sept 24th when oil was below $70 and I said it would go up (after we had correctly called the sell-off) and you said "Wow, are you finally capitulating on your bearish stance on oil after all this time?... Maybe I should think about shorting it now... "
Oh I see, it must have been Sept 28th, with the Dow at 13,895 when I recommended puts on the DIA and you corrected me by saying "Why puts on the DIA?? It's a mega cap, diversified index that is easy for i-banks to move around? These are huge companies with enough moving parts that they can print any number they want at earnings time (at least for a couple qtrs). " Yeah, I'd be embarrassed too to be that totally wrong trying to call someone else out. Sorry about that...
I also love your May 21st statement: "I think in the long run higher energy prices are the best thing that can happen to this country. I hope it goes to 200.00 a barrell. " So far so good I guess...
May 23rd, still on topic: "Here is a tip Phil. Take everything to do with oil off your screen. It isn't really as important as you think! You need to move on because its getting really pitiful."
Gosh thank goodness you explained to me oil wasn't going to be a big problem for the markets, you are really being borne out by the action since then.
I have no problems with people who wish to engage in an intellectual debate on a topic but when you make comments like "Everyone reading this needs to know that Phil is full of shit and just trying to promote his subscription based website. (June 13th)" then it says a lot more about you than it does about me.
Options Trader: Thursday Outlook [View article]
Saifl - Obviously you are too lazy to do your own research or just like misleading people with your ridiculous comments. Facts are here: in.reuters.com/article...
I would suggest you go and do some research next time before embarrasing yourself again but your "body of work" speaks for itself: seekingalpha.com/user/...
It is interesting to see the same people appear over and over again in rabid defense of certain positions. Nonetheless, you have inspired me to write up a primer for how oil is mainipulated through the buying and selling of relatively few contracts, I think it would be helpful for people to understand and something we can get before Congress when they reconvene next week.
Options Trader: Thursday Outlook [View article]
What we are doing, and I wrote an article called "Burn dollars to fight gravity" which you will like, is printing up more and more dollars in order to get ourselves out of debt but the energy speculators siezed on this plan (that was hatched by GS former CEO Paulson and taken advantage of by GS currently) to divert all those extra dollars into commodities, tripling the price of commodities on a 40% decline in the dollar. That still net's out to them as an inflation-adjusted 100% increase in what they get for the commodities.
Also, what's really great is that we get nothing of lasting value for out dollars since this country produces virtually nothing (other than homes, which they crashed first to put a stop to it) so we are spending and spending and spending and accumulating no assets for it and the government goes further and further into debt to keep the whole charade going.
In the end, GS/MS et al hope to be the last men standing when they pull off the deal of the century and broker the restructuring of our $10Tn national debt as our creditors fear we will slip into bankruptcy. They could easlily collect a $250Bn fee for that and eliminating BSC and LEH along the way (and C if they can) means that pot will be split less ways.
Cash is good Blink, we're mainly cash and giving it to earnings to see if we can break oil and get some good news, otherwise it's off to Vegas to do some real gambling!
Al - Yes, two weeks ago (6/13) I called a bottom. I also shamefully called a top in September at about 13,800 and 3 weeks later we went over 14,000 where I continued to say we were too high and people just like you (was it you) said the same kind of things.
Since we run diversified portfolios on our site, it isn't the sort of thing we shift on a dime from day to day. We have actually committed very little additional cash this month despite my desire to as we look for a proper bottom but if it somehow satisfies you to say "wrong, wrong, wrong"
I don't know what your deal is - clicking on your name shows that in Aug '06 you said "Phil, Thanks for your response. I have been enjoying your posts for almost a year now. You have lots of good ideas and a refreshing take on things. Hope you keep them coming. Aug 20 06:54 PM"
I guess you must have lost your smart ass on Sept 24th when oil was below $70 and I said it would go up (after we had correctly called the sell-off) and you said "Wow, are you finally capitulating on your bearish stance on oil after all this time?... Maybe I should think about shorting it now... "
Oh I see, it must have been Sept 28th, with the Dow at 13,895 when I recommended puts on the DIA and you corrected me by saying "Why puts on the DIA?? It's a mega cap, diversified index that is easy for i-banks to move around? These are huge companies with enough moving parts that they can print any number they want at earnings time (at least for a couple qtrs). " Yeah, I'd be embarrassed too to be that totally wrong trying to call someone else out. Sorry about that...
I also love your May 21st statement: "I think in the long run higher energy prices are the best thing that can happen to this country. I hope it goes to 200.00 a barrell. " So far so good I guess...
May 23rd, still on topic: "Here is a tip Phil. Take everything to do with oil off your screen. It isn't really as important as you think! You need to move on because its getting really pitiful."
Gosh thank goodness you explained to me oil wasn't going to be a big problem for the markets, you are really being borne out by the action since then.
I have no problems with people who wish to engage in an intellectual debate on a topic but when you make comments like "Everyone reading this needs to know that Phil is full of shit and just trying to promote his subscription based website. (June 13th)" then it says a lot more about you than it does about me.
Have a happy 4th everyone (else)!