Tuesday, November 6, 2007

RSI(2) < 2 Screen

Last night the screen showed lots of results. My two favorites are TMX and FLR. I purchased TMX this morning, but am waiting on FLR due to its gap up.

Covered my GIGM short @ $22.30. May have let some profits on the table as it is really getting hit. However, it has been strong, and $22.30 is the 20 day moving average.


mdawsz said...

I took down a little TMX cuz I know how much those crazy Mexicans love to talk on the cell phone.

Woodshedder said...

Hell yeah! And with all the business Fly gives them in his yard, you KNOW they are doing some talking with folks back south of the border!

Sierra Water said...

We're all screwed!! Head for the hills!!! Bwaaaa!!!!lol. Seriously though, "White Squall" is coming. Just remember, when armageddon hits I will keep a couple trailers in my AR park open to those in this community, even you MDAWSZ. Looks like PTT is capturing a lot of those affected by the housing crisis.

JPM - 1.2 Trillion in Assets 80.3 Trillion in Derivatives (growing month over month to mask Losses?)
Citi - 2.2 Trillion in Assets 34 Trillion in Derivatives
BOA - 1.5 Trillion Assets 30 Trillion in Derivatives

Total Major Banks and Brokers - 10 Trillion in Assets against 160 Trillion in Risk

Derivatives activity in the U.S. banking system is dominated by a small group of large financial
institutions. Five large banks with the greatest notionals represent 97% of the total industry notional
amount, 80% of total trading revenues and 88% of industry net current credit exposure.

Woodshedder said...

Sierra, open your blog back up! How the hell are we to monitor the white squall without your fricking blog to guide us?

ducati998 said...


I'm interested to know where your figures regarding the derivatives originated.

BIS has at Q4 2006 some $96.7 Trillion in total world derivatives, constituting;

*Foreign Exchange.....$40.6
*Single Currency.....$18.6

Citi's derivative exposure;
Tier 1.........$7,943 Million
Tier 2.........$355,681 million
Tier 3.........$22,720 million
Total..........$386,344 million

While certainly there will be Off-Balance Sheet exposure, I'm a long way from $34 Trillion.

jog on

Woodshedder said...

Grant, nice to see you sounding some what less bearish, if only to challenge the derivative issue.

Honestly, I hope you are right, and Sierra is wrong.

mdawsz said...

Wood, nice trade short in GIGM.

Sierra, thanks for the offer, but things will never get so bad for me that I'll have to move into a trailer park.

Broker A said...


I'll have you know, you must guest blog on my site, this weekend-- for it will be my last.

It's only right.

Give me your email

Sierra Water said...

My numbers were from the US Department of the Treasury http://www.occ.treas.gov. I hope Ducati is right as well, but as you can see from the action in the dollar and gold, this will be as serious as an event as they come. Gold is going up on pure panic buying as those in the know understand what is coming. There will be a short term murdering of gold, but eventually $1600-2000/oz. China is bailing on the $ just as expected. The derivative #s I posted were possibly on the low side given that they are compiled with less than perfect accounting. That's the problem with this entire charade, the masses really don't know how bad it is because of the complexity. WW derivatives are pushing 200 trillion. Credit default derivatives at JPMorgan, City, Merrill, and Bear are what are casuing the tree to shake in this wave. This is a major event starting to take place now. Make sure you have some spending cash stashed away as we are going to have a good ole run on the banks. This problem will ebb and flow before it shows itself like a "White Squall", but why try and be a hero, attempting to squeeze a few more dollars out of these markets. Protect what you have. This sort of thing will not be good for the stock market. MDAWSZ, I know you have done well, but I know people with 10,20,30,100mil+ who are taking the same action I am. I made 2+ in CA RE and have it mostly in Candos/Francs short term treas, and my recession proof MHPs. I will wait until this thing ends, which will be 2010+. The US auto mfg are in big trouble. They have massive exposure to this mess. KMX in trouble(a short position of mine).

Dinosaur Trader said...


You need Ducati to guest blog one more time... it would only be fitting.

Sorry about that FLR bullshit, Wood. I highlighted the early morning trade on my blog. Complete crap.


newequity said...
This comment has been removed by the author.
Anonymous said...

I just blew all my gains for the entire year. I hate the stock market as it took 100 trades to make 10k and 1 trade to lose it fucking all.

ducati998 said...


I will guest blog at the weekend along with the other returning invitees, I could no less, even though you still owe me $10


I have looked at the data and will respond in greater detail after the market closes.

jog on