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Wednesday, October 7, 2009

GOOG

GOOG got a boost in volume, apparently due to some hype released about "the worst is over" in advertizing revenues. Ok, we'll see.

Posted by David at 2:05 PM

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3 comments:

X said...

LOL! What's up David?

That has to be the most hilarious, and not to mention retarded, thing I have seen all day aside from the CBS business news writer saying that she wasn't concerned about the dollar compared to the Aussie just hours before yet another >1% move. Maybe all of the new internet cable to Africa has the millions living on less than $2 a day lining up to sell Amazon products on Blogger with Adsense.

IMO the only thing that could possibly take things to the next level of obscenity at this point woud be if administration officals all pledged to check themselves into treatment centers and actually started to tell the truth out of respect for other human beings. If for some strange reason that were to actually happen you would find me ducking and covering under my desk because the day of redemption would almost surely be at hand.

What a surprise ending they must have planned. In the meantime it looks like we have a round of full scale fearmongering concerning Iran and the flu shots to keep things interesting before the final hour where the Prez dons his cape and tights to miraculously save the planet from staged atomic destruction at the hands of a middle eastern puppet or some cricket loving fanatics.

BTW, when I first started trading a couple of years ago ROIAK was a lot of fun for quick momo scalps but I am really amazed to see that it is not BK yet. I am simply too scared to trade this market but if nothing else it is kind of entertaining to watch the liars lie.

Waiting for lightning to strike,

X

October 7, 2009 at 8:54 PM
David said...

Hi X,

What really pissed me off about GOOG is that this came a week before earnings, which smells to me like an attemt to pump and dump. If this tanks after earnings, nobody will be held accountable. This is the kind of stuff that has bothered me about this whole rally. We got into this problem because of bad loans and accounting fraud, and the solution is more bad loans and more accounting fraud? I don't think so. Unfortunately, theey have put off the day of reckoning, but the more they put if off, the worse it is going to be.

I have heard rumors of a bailout for truggling newspapers and media outlets. It sounds pretty preposterous, but looking at newspaper and media stocks, apparently somebody believes it.

There is a blog that has news from 1930, showing how amazingly similar what was being sai then is to what is being said today. I don't have the URL handy, but if you google "news from 1930" you should find it.

The time to buy this market was back in March-April. I got out early (back in June), and except for a few lotto tickets, have been out since. The way I see it, there is way too much risk right now.

October 8, 2009 at 8:41 AM
X said...

Yes David,

I agree completely. There is too much risk at present. It is impossible for most people to know what the real earnings or books of instituitons are like since the accounting standards were suspended. IMO the only people that seem to know when printed money will stop flowing into or supporting equities aside from the "lucky" appear the banks themselves and perhaps a few wealthy Obama campaign contributors.

I have been thinking that this could be the "last hurrah" for the stock markets as we have known them. Just based on the speed and incline of the upward momentum in the rally since March combined with the future efforts aimed at regulation (that we have heard so much about but seen little to no progress in) I am wondering if when it all hits the fan again if the government will mandate that people still holding 401ks be required to hold larger portions of "safer" government bonds.

The dollar is an area where I think it is really awful how the media has repeatedly abused well timed quotes from administration officials, not just here in the U.S. but worldwide, which indicate that they are concerned and will act to maintain a stronger currency. In many instances the dollar has weakened immediately after statements form Geithner and the like who are quoted as defending the currency. Due to the failure of administration officials to either come out and make public statements rebuking the timing of such media releases or promotion of a strong dollar opinion the administration has likely done a lot of damage to its own credibility among regular people.

I personally have come to expect lies from third world leaders but only since the end of Bush's last term am I starting to feel that anything that our officials say could easily be misleading or false. It is difficult and even impossible in many cases to navigate a world in which lying seems to be the norm and why any administration would repeatedly permit itself to be viewed this way is beyond me.

Unchecked lies can result in the deaths of people and until we see a return to leaders with integrity and value for honesty and human life I think that these times are very tragic, not only for Americans, but for the world as a whole. Many people all over the world are dependent on leaders to stand up for what is right.

I respect your own personal choices but feel compelled to say that even despite the difficulties I am encountering at present and my own shortcomings as a human I can truly attest to the worth of something much greater than monetary or physical wealth. Without it I would be completely BK. Best wishes from flyover territory.

California dreaming,

X

October 8, 2009 at 10:15 AM

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