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goldminingXpert (28.70)

Another Karl Denninger Blog Repost



March 09, 2009 – Comments (7) | RELATED TICKERS: SPY , QQQ , XLF

I swear I do have original thoughts of my own... just nothing coming to me at the moment. ;)

Anyway, click through to the post to get the chart and full content. I'll just give you the first few lines:

"For the math-challenged, for the last four weeks the losses [in the S&P] have been 48, 50, 37 and 48 points, respectively, or an average of 45.75 points per week.

The President is about half way through his first 100 days.  Assuming this rate of decline continues for the next 50 days, or approximately seven weeks, we would see another 320 points come off the index, placing us well within the "three handle", or 3xx, on the SPX.

We're off to a nice start on putting in another 40+ point loss this week, having lost nearly 10 of those points already, and the market is several hours from opening!"


7 Comments – Post Your Own

#1) On March 09, 2009 at 7:19 PM, goldminingXpert (28.70) wrote:

Oops, meant to include this line as well: "The game-playing in the Credit Default Swap space continues; it is now cheaper to insure Vietnam against default than Berkshire Hathaway! Does anyone believe that? I certainly don't."

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#2) On March 09, 2009 at 7:31 PM, SuperPicks (28.34) wrote:


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#3) On March 09, 2009 at 7:48 PM, SuperPicks (28.34) wrote:

I'm listening to his blogtalkradio show from today (its on the right side of the market ticker page).  So far pretty good talk about CDS.

Have you already listened to this?

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#4) On March 09, 2009 at 7:57 PM, goldminingXpert (28.70) wrote:

Still need to, but I watch his technical videos--and he includes a lot of his more general thoughts about things like CDS in there as well. I need to check it out though, thanks for the reminder.

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#5) On March 09, 2009 at 11:45 PM, jesusfreakinco (28.19) wrote:

Nice in theory.  I fear Obama is too busy dreaming up plans to punish the banks to pull his head out of his butt to solve this issue.

Partisan politics are alive and well.  Before he wakes up, I fear it will be too late.

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#6) On March 09, 2009 at 11:53 PM, jesusfreakinco (28.19) wrote:

Read and re-read the blog.  What can you say after that other than - I have to go change my shorts...

Can you imagine Washington right now - no one wanting to make a decision because they fear being the guy that made the decision that brought down the world's financial system.  It would suck to be Timmy right now...


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#7) On March 10, 2009 at 10:35 AM, evan1974 (< 20) wrote:

gmx what is your next call on gold? what is the time frame? what is the best way to make money on that call?


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