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Post by Clinton SPX on Sept 14, 2011 10:48:22 GMT -5
The Bank of New York Mellon's lawyers are awfully busy lately and a Detroit pension fund just added to their workload. In a lawsuit filed yesterday in Manhattan the pension group says its custodian, BNY Mellon, gambled and lost more than $ 1 billion of its money in investments tied to failing Lehman Brothers. BNY continued to keep the pension funds' money invested in Lehman notes during 2007 and 2008 even as it became apparent that the investment bank was in trouble, the group says. The class action complaint was filed by the General Retirement System of the City of Detroit which includes that city's police and fire retirement system.
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Post by jack on Sept 14, 2011 11:23:53 GMT -5
Thank you for the lesson. Now that you taught me that, I like them a lot better now. NOT SO FAST Rex!!! It was because of those MFers and the assasination of the Archduke Franz Ferdinand, the heir to the throne of Austria-Hungary in 1914, which led to the start of WWI and caused "the lost generation" referring to all those soldiers killed in that senseless bloodbath. This, of course, also marked the end of the Austro-Hungarian Empire. Furthermore a little prick of a colonel who fought in that war had a lot to do about WWII; his name was Hitler (may he rot in Hell for all eternity for all the people he caused to be killed.) en.wikipedia.org/wiki/World_War_IHmmm...perhaps there's a future here for me in history, eh? lol!!!
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Post by Clinton SPX on Sept 14, 2011 11:29:53 GMT -5
I love how the futures traders get huge swings to trade and we get this :/
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Post by gkierkegaard on Sept 14, 2011 11:39:58 GMT -5
Keep the history lessons coming, Jack.
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Post by jack on Sept 14, 2011 11:42:28 GMT -5
Keep the history lessons coming, Jack. 10-4 will do - and thanks for the vote of confidence
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Post by rex on Sept 14, 2011 11:43:01 GMT -5
Thank you for the lesson. Now that you taught me that, I like them a lot better now. NOT SO FAST Rex!!! It was because of those MFers and the assasination of the Archduke Franz Ferdinand, the heir to the throne of Austria-Hungary in 1914, which led to the start of WWI and caused "the lost generation" referring to all those soldiers killed in that senseless bloodbath. This, of course, also marked the end of the Austro-Hungarian Empire. Furthermore a little prick of a colonel who fought in that war had a lot to do about WWII; his name was Hitler (may he rot in Hell for all eternity for all the people he caused to be killed.) en.wikipedia.org/wiki/World_War_IHmmm...perhaps there's a future here for me in history, eh? lol!!! Just goes to show...trust the first thing out of my mouth as it's usually correct. LOL
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Post by rex on Sept 14, 2011 11:45:09 GMT -5
Ok, back to work. I'm assuming the big conference call came out good and that's why we're zomming on up. Has anyone heard anything on it yet?
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Post by Clinton SPX on Sept 14, 2011 11:48:05 GMT -5
spy getting close to gap fill
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Post by Clinton SPX on Sept 14, 2011 11:53:09 GMT -5
119 gap fill
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Post by Clinton SPX on Sept 14, 2011 12:38:33 GMT -5
SPY gap hs now been filled
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Post by crumbdon on Sept 14, 2011 13:00:18 GMT -5
Bank shorts are pretty tweaked about that last run- they're piling on hard right here. FAS is a 98-lb. weakling today.
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Post by Clinton SPX on Sept 14, 2011 13:04:51 GMT -5
I added to my short just cuz gap filled
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Post by rex on Sept 14, 2011 13:30:08 GMT -5
I added to my short just cuz gap filled The world might be fixed now for a while now that Greece is going to stay in the Euro Union. What's the next shoe to fall that's keeping you bearish?
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Post by crumbdon on Sept 14, 2011 13:32:48 GMT -5
I added to my short just cuz gap filled You're bold- I'll give you that. They'll pan out soon enough, but there could still be a fair bit more upside to this move before they do- especially this week. GL, I don't have the sack to follow you!
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Post by crumbdon on Sept 14, 2011 13:49:38 GMT -5
Bank shorts must be starting to cover on this run here, FAS starting to regain a little bit of strength (still not performing like a 3Xer , though).
BAC, GS, and JPM still dead weight. Of course- they are turds, you know.
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Post by Clinton SPX on Sept 14, 2011 13:56:01 GMT -5
I got longs, I wont mind if we keep rallying at all.
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Post by Clinton SPX on Sept 14, 2011 14:00:02 GMT -5
once they get everyone bullish and happy again they drop out the bottom
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Post by crumbdon on Sept 14, 2011 14:02:44 GMT -5
once they get everyone bullish and happy again they drop out the bottom Yeah, I agree. But that could easily be 30-50 pts north of here before everyone feels that way again. I think our true bottom lands somewhere in October. Then I think we chop our way back up the rest of the year.
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Post by jack on Sept 14, 2011 14:19:08 GMT -5
once they get everyone bullish and happy again they drop out the bottom Clint - you should've called an end to the contest when you had it ahead by 20% over everybody close. That's a little known contest by-law you know. Bummer
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Post by jack on Sept 14, 2011 14:27:04 GMT -5
once they get everyone bullish and happy again they drop out the bottom Clint - you should've called an end to the contest when you had it ahead by 20% over everybody close. That's a little known contest by-law you know. Bummer She's gaining traction!!!! yer back in the race!!! Beautiful!!!
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Post by Clinton SPX on Sept 14, 2011 14:28:17 GMT -5
I think scottrade pulled the plug on my account, I cant log in now
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Post by crumbdon on Sept 14, 2011 14:34:28 GMT -5
I think scottrade pulled the plug on my account, I cant log in now Short-covering plugging up their servers right now. They are truly the worst for that. I should know, I still have them (foolish me). You get what you pay for in a discount broker.
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Post by timber on Sept 14, 2011 14:37:21 GMT -5
why do people use that broker....it seems everyone has trouble with them
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Post by Clinton SPX on Sept 14, 2011 14:51:19 GMT -5
wow look at the selling vol
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Post by Clinton SPX on Sept 14, 2011 15:03:17 GMT -5
US Department Of Labor Finds Bank Of Amer In Violation Of Sarbanes-Oxley Act Whistleblower Protection Provision
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