Oldtent Archives 2007 - 2008

Nytol

nope not knocking any one at a low trade cost flipper .. but why stick around to see how this turns out.

even two cans with string attached one end the broker ,, the other end the broke ..is perfectly sane //

but if this news is positive then keep e=trading away.. and one does save three bucks or so

ment uses fidelity and the 12 buck trade… have no use for full line broker ..

and could really care less where folks trade .. just aheads up. is all..

Jim Sinclair’s Commentary

This is not over.

E-Trade CFO and general counsel resign
The executive exodus from the troubled online brokerage continues, four months after CEO Mitchell Caplan was forced out and the outfit teetered on the verge of bankruptcy.
April 26, 2008: 8:16 AM EDT

SAN JOSE, Calif. (AP) — An executive exodus from troubled online brokerage E-Trade Financial Corp. is continuing, with the chief financial officer’s and general counsel’s departures announced Friday as the company grapples with massive losses stemming from its hemorrhaging mortgage business.

The New York-based company said after the market closed that Chief Financial Offi cer Robert Simmons will resign on or before May 9, while General Counsel Arlen Gelbard’s resignation was effective Tuesday.

The CFO slot will be filled by Matthew Audette, E-Trade’s controller, while the company searches for a permanent replacement. The general counsel position will be filled on an “extended interim basis” by Russell Elmer, who served in that role for six years before leaving the company last year.

Company in turmoil

The company did not detail the reasons behind either executive’s departure.

Mrs Aguila and I were fortunate to have dinner with Godfather tonight and he is up and running looking good and he is looking forward to tottsville with great enthusiasm. What a great crew we got here. eh?

(First time I didnt understand one of your posts   <g> )

Anyway, at 00:27 you said “those using e-trade to save a buck on trades……in my opinion should be looking elsewhere…..things seem to be unwinding…”.

Now, I dont have an account with e-trade, but I do have a discount trading account with TDWaterhouse which gives me trades at $9.99 a pop - a bit more expensive than e-trade which I think is $6.99 per trade.  I went with TDWaterhouse about a decade ago because in Canada they were the first to offer that service, and the first to get me off the very high commissions I had been paying at a so-called  ”full-service” for a quarter of a century before that.

So at 00:27 were you knocking anyone who has a trading account at one of the discount brokers?  Were you implying that they should join the real world and deal through a broker who you speak to?  I believe in the slow power of compounding.  I also believe in the slow power of saving commissions by going to an on-line trading system, so I dont knock the e-trade crowd who do the same.  I also believe in saving a few dollars monthly by willingly accepting my wife’s offer to trim the few remaining hairs above my neckline (although I dont get hot and timely investment tips from my wife with a clipper in her hand, like I would from the barber down the hill beside Scotiabank where I sometimes buy gold Maple Leafs).

Different strokes for different folks.  I’ll stick with TDWaterhouse, discount brokers, and get my investment clues not from a full-service broker but from reading information and opinion sources like Goldtent.   Cheers.  Equiz.

..They will reserect the Pound-Sterling….in London

..wonder when the last time the Pound was backed by Silver ?

I still can’t believe how exact the 1978 “Even Year” silver upleg was to this year’s action.  I was ready to lambast the silver bulls for losing Game 3 of the series.  But they haven’t lost as long as they stay above 16.27 and it looks like we have formed a triple bottom after today.

What on earth will London do tonight!

.if this is 1978 all over again….I’ll just it here and watch !

…..wonder who will play the Hunt Brothers in this remake….hehe

Another chart that made me, just now,  fall out of my chair:

omencity.com/forum/viewtopic.php?t=2926

The who have been doing what to gold?

www.the-privateer.com/chart/gold-pf.html

DJ Tsy Paulson Reiterates Strong Dlr In Best Interest Of US -CNN

NEW YORK (Dow Jones)–U.S. Treasury Secretary Henry Paulson repeated
Wednesday that a strong dollar is in the nation’s best interest, saying that
the long-term fundamentals of the U.S. economy stack up favorably against other
countries.

“A strong dollar is our nation’s interest, and it’s something I’ve been very,
very supportive of,” Paulson said in an interview on CNN.

“Our economy’s got some ups and downs. It’s going through a tough period
right now, but our long-term fundamentals are strong,” he added. “I think the
long-term fundamentals are going to be reflected in the price of our currency.”

While some analysts have cited the dollar’s weakness as a key factor behind
record-high oil prices - crude is priced in dollars - Paulson noted that oil
prices in terms of other currencies, such as the euro or the yen, have risen
sharply as well.

Paulson said supply-and-demand factors have been the primary driver behind
the record run in oil prices, and he appeared cool to proposals by GOP
presidential candidate John McCain and others to suspend the federal gasoline
tax during the peak summer driving season.

“It doesn’t avail itself of short-term solutions,” Paulson said of
record-high gasoline prices in the U.S.

I have stated here several times past few weeks I was sitting on sidelines with a lot of cash and thought it might be time to get in mid this week. So much gloom and doom, SRLM holders begging someone to buy, Juniors crushed, 20-30% down in some, even 50+% here and there… I did wade in this morning . Hope we are right. I pay little attention anymore to TA..watch sentiment on PM boards, the fundamentals, and hope for the best. I do not trust charts any longer..too easily manipulated When Gm (among hundreds of others over past year) can publish major losses and then the stock price soars..can’t trust any of it. It is al a crap shoot-but this is the casino we have chosen. Do we really have a choice? CD’’s? Cash? Treasuries? Investment housing? None for me. Hope fundamentals and good companies, with good management, will payoff. I trust the rest is just noise and deception to rob us of our investment capital.

  I hear ya. Funny how the 33% losses need to go up 50% to break even. I gotta be as positive as I can be here and hope that we’ve either put in a bottom or are very close to doing so.

  We’ll have to see if we can muster up some follow thru in the next couple of days. I’d sure like to see a move back to 460 before any more selling - but that seems miles from here.

  One good thing, we know the HUI can go up 5-6% in a day at any time. Be nice to string together about a week worth of those days.

Here’s an interesting article.

“Turning over to the current situation, it should not come as a surprise then, that in the past few weeks the media has published various stories comparing the recent downturn in the US to the Japanese deflationary bust or the Great Depression of 1929. In my opinion, this “deflation” propaganda is crucial to further promote the Federal Reserve’s agenda of creating even more inflation as a “cure” for the ailing economy. Let there be no doubt that the Federal Reserve is now desperately trying to inflate the system via rate-cuts, pumping of liquidity and bailouts. ”

“Over the past few months, the prices of commodities have gone through the roof due to supply and demand imbalances and massive monetary inflation. However, given the turmoil in the markets and loss of confidence, resource stocks have been punished by investors. This development is strange to say the least and it has paved the way for a massive buying opportunity in the most coveted sector of the future. I find it absurd that the investment-community is dumping quality resource stocks at a time when the underlying commodity prices are super strong. At the end of the day, businesses are valued based on their corporate earnings and with sky-high commodity prices, I can assure you that elite resource-producing companies are going to announce fantastic results in the months ahead. Today, top-quality diversified mining companies are selling at 12-13 times earnings (bear-market valuations) and I can only guess this is due to the fact that most people expect commodity-prices to crash in the months ahead. However, if my homework is correct and commodity prices continue to soar in the future, we will see a major re-rating in the valuations of resource-producing stocks. Some of you may remember that during the technology mania at the turn of the millennium, technology companies (even dodgy ones) sold for ridiculously high valuations. Well, we can expect to see the same type of madness in relation to commodity stocks in the future.”

http://www.safehaven.com/showarticle.cfm?id=10121