Friday, October 03, 2008

A.M. Post

681 Days....I'll be joining the prestigious club of 50 year olds. Fifty is the new 30 right? Right! That I have my fitness goal firmly in sight AND I've been systematically pursuing it, I'm feeling good about the approach of that day. That I can run for two miles without keeling over is satisfying. I've been surprised at how easily my body has conjured up the old breathing and moving rhythms. Bodies are amazing things, though they can turn on us rather viciously if we don't care for them.

This a.m. WFC is announcing a stock for stock offer of WB. Should be good for financial stocks. I took a flier on some $20 UYG OCT calls--a small bet on a bounce in financials. Sometimes these 'flier' ideas of mine don't fly. Sentiment is so low we are bound to get a bounce here soon.

I'm waiting for a washer repair person. Hopefully it can be fixed today. I'm very reliant on this machine. We've lots of socks, underwear towels and clothes to process on an ongoing basis. I overfilled it and the door blew open--apparently breaking the latch internally. My husband groused with a litany of "you always...." Oh well. Married life....we can script all of those conversations, can't we?


nice said...

50 years Young!

Life expectancy in Japan for women is now 85 years...


Regarding this bailout...

I still can't understand all the analysts obsession with whether or not it will help..

The dollar amount is insignificant.

The Fed has pushed $1 trillion into the markets the past weeks -$1 trillion!

Most of it probably going to the preferred clique now (GS MS BAC C etc..) so they have no capital concerns really if the Fed keeps this up.

To me this whole Bailout and Congress charade is more about psychology - more one of confidence building.
After all if the bill passes and with the money centres with $1 trillion on their hands - you gotta think they are going to try to at least stabilize things...

Of course totally thinking outside the box (and applying a little tin foil to my cap)- maybe the plan that has been hatched is this:

The bailout (whether by not passing or being used as an excuse that it was not significant) is a reason to crash the markets - because the system is already insolvent - then they release further bad news.

In either case at this point - stabilization seems the likely bet - though traders at the moment are still busy selling and shorting (non financials) every upmove again this morning.

Should the bill pass - the danger would be that it is precendent setting - and in the future we have larger and larger FDR New Deals under Mr Obama or John McSame.


nice said...


This market is a bit of a laugh - no conviction

No one is investing - they are all trading - buy the bottom of the trendlines - sell resistance - all doing the same trades

Everyone is so afraid and down so much money...

Anyways long a bit for the long term account...

.. that's it for me today...

good weekend to all


Leisa said...

NG--very strange action to me. My worry would be what if the credit markets fail to be appeased. We've shot our wad.

I may need to borrow your tinfoil hat! Happy Weekend.

Anonymous said...

When do we get to see pix on the fitness blog Leisa? ;)

I have to think that with the SP500 down 30% one HAS to put SOME money to work here. In the wife's IRA account I have been scaling into more equity exposure as we ratchet down. OTOH, I don't see a bottom forming yet.