Loading ...everbank bought the good assets in june (i think) and netbank stock went to nothing.(nasdaq deficiency notice) then the fdic shows up. probably was arranged when everbank bought good assets.
these failures will start coming rapid fire imho. the stock market can’t absorb many more failures without a little panic. the best indication the sm is going down is that cramer is calling for 14,500.
rno
I always figured you to be that Planich dude from the Tailwind OP.
The dude I met in Bend that was part of the Phoenix OP was fascinating, as he was also a amatuer geologist. Cheers mm
I am financially uneducated, can hardly draw a trendline and am lazy and disorganized so I eyeball them, but I have been watching this stuff almost daily, sometimes all-daily and I have watched the Chartists look like genius’s and then miss the mark widely. The last month has been spooky. We got clipped with the market with the subprime, rebounded. Many called for a rebound and many feared another “Hit” sat on the side in cash, and missed a good rebound here. The freakshow was puntuated with Astrological and Rumour sources of horror around the 3rd week of September which turned out a good time for PM stocks, and here we are looking “Toppy” on Charts and the Commercials have taken up the short position in huge numbers which usually means we get Hit BIGTIME, but the Fundamentals are SCREAMING in favor of the financial fears driving money into PM”s, Oil High, Dollar falling like a Rock etc etc etc.
A friend to whom I just explained EVERYTHING we talk about made two comments today.”
1) “None of the Candidates have mentioned ANY of these things” -( FED, FDA, Dollar, Gold Standard etc , Bankers)
2) “I must say, Gold has just suddenly started to be advertised in the media as a good investment. I have seen it everywhere just lately”
That number 2 is a HUGE indicator to me !!!! Some public involvement is key here !!!
Charts are based on past performance, patterns, and try to equate today’s situation with “similar” situations in the past. They work a PERCENTAGE of the time and some technicians have calculated these percentages through computer backtesting of their technical indicators. It seems to me that most of the accuracy occurs when the fundamentals are SIMILAR enoughso that whatever the technicals pick up will play out similarly. Some of it these days may be self perpetuating because with so many technical traders handling so much money there are many who buy soley because the Chart tells them to !!!! But there IS a percentage of failure when something perhaps OVERIDES whatever makes charts work when they do.
From the Man in The Street view, I believe that unusual events that get a lot of attention for good or ill would account for much of these “Aberrations From The Pattern” noted in Charts and their indicators. So TODAY , here we sit with Toppy Charts and some other overbought indicators, shorts lining up, and what shall we do??
I think it is dangerous now to second guess The Bull. Today is a complete anonmoly. Wave 1 and 2 did not have immediate bank failures , Financial meltdowns, the Dollar making 23 year lows, Oil at 83 setting a new record and more all at once.
I get emails from Peter Degraf for free and he sends charts etc and said the charts look like we’re ready to “Correct” but that “THESE ARE UNUSUAL TIMES AND IT CAN BE DANGEROUS TO SECOND GUESS THE BULL” It was nice to see a chartist express what I have been feeling and sometimes saying. I don’t think you can chart annomolies, but I do think that all these indicators do reflect something and will eventually have influence, but that TODAY is so different than the times reflected in similar patterns in the charts, that you cannot trust on DEJA VUE becuse we ain’t never seen Nuttin’ like what’s going down right now and it’s still playing out. I wonder how the bank failure will play out in the market tomorrow !!!
Good Luck All !!!!
H umanoid
I hope the video of the dumpster diver came through but I wrote a couple of “addendum” posts to my earlier McLean’s cover, one to Irish’s responce. Neither came through and I conveniently had my computer internet service lock up. None of this is earth shattering , just more grist for the mill.
I am looking forward to feedback on both accounts, mm
I grow weary these days. I will be bringing some ‘bonofides’ of my own. I am finding less time to play games these days. I think, you will get the message.
Understand this….my efforts of recent days/times…..is to help others. (It is all I got left to give). TIME magazine once referred to me as ‘EX CIA…..and while the rest of thier article was full of BS….they got one part right.) The old INTEL folks…are out of the loop so to speak. Since the introduction of ‘Homeland Security’…..it would seem, a lot of us folks, are ‘out of the loop’. What was/has….has been replaced. Dialed any of your old ‘contact numbers’ lately??
Please let it be known…I am in it today for friends and Family. End of chapter…end of story. Yeah…it has come down to that. If we need to take a quiet walk along water’s edge….it will happen.
Best, Farmboy.
I imagine that Everbank is more than happy that they canceled the earlier agreement they had with NetBank.
This is from Sept 17th:
On Monday, Everbank, a privately held financial services holding company, announced it terminated its agreement to acquire NetBank (other-otc: NTBK - news - people )’s consumer deposit accounts, business finance division, and other assets. The transaction had been announced May 21.
According to EverBank, the termination decision came after it became clear that NetBank would not be able to complete certain conditions required to receive regulatory approval.
The Jacksonville, Fla.-based firm would not elaborate beyond its press release, and NetBank did not respond to requests for comment.
I did not see this on Sept 17th, but if I had, I would have probably been getting my money out of NetBank very quickly there after. Have a great week.
shiny gold colored heavy metal in hand is the safest bank of all. with of course the appropo ’security’ factors too. seems everbank is fine but so was northern rock untill it wasn’t. imho the closer to home the better one is with the fastest ability to transfer if there is a cloud on the horizon. wj
If you need to contact me….for a private meeting….just let me know.
Best, Farmboy (Sori…I dont have your private #)
I assume you can contact me through one reef dweller….etc.?)
Hope you can make it. Best, Farmboy
If you have never done it before, you are going to find that you are in for a real treat. When the kids were young, we used to go up into the hills by Central City to pan for gold. It is really an exciting thing to see a few glittering spects in the bottom of that pan!! Never found any ‘nuggetts’, but usually got a few tiny flakes, never mind that they wern’t worth the gas it took to get there, it was great quality time with the family.
It seems like the older I get, the less time I have for the things in life that make life worth living. Got to start working on that problem. You guys and galls are going to have a ball at the GA gathering, wish I could be there. I want ya to all know I will be ther in spirit. And Irish, I want you to shake all the hands for me and say “HI”.
Best to all
Dusty
I, too, look forward to our meeting. I am confident from some of your posts that we may have much to talk about…once trust can be established. Looking forward to good food, good company, and the possibility of a shining light in our futures. Hey, we could be little stars on a lonely wall in a building in DC (you know the one I mean) so I’m just glad to be here with a future to contemplate.
thanks for the comment about the articles, glad some find them worth reading.
I have been plotting and figuring, trying to figure out how I can get there. All I can say is IF something changed that I could come down for the day, I will be there - otherwise, I will be there in spirit and hope to make another get together sometime in the future. I will look forward to the day I can shake your hand and those of others under the Tent! Have a good evening and a great week.
i think macroman was having a hard time posting a hyperlink to his posts but no editing just a tad of stumbling with the bells and whistles.
macroman if i’m somewhat right what do you need to do and i’ll walk you thru it as best i can. wj
Hope you have acquired/are bringing….a lot of ‘Real Butter’. Hate to think you would not be happy with Corn on the Cobb…grilled on open flame to perfection….cause you aint got ‘your butter’?
Its going to be a long week. Waiting to see some friends. Best, Farmboy
financial institution chicanery? Now that I have risin off the floor and cancelled the ambulance for an appendix that didn’t rupture, the reason you frequent this fine address is for the fact that those black holes eventually suck in everything that is not colored silver and gold (not just on the outside).
Thanks for the chuckle, mm
