roadwarrior

Well, the DJIA was down about 45 points with 40 minutes left in the session. The new Secretary of Treasury was announced and sparked a 500+ point ralley to close at 8046, up 494 points. Go figure...

After trading +/- flat all day, the DJIA rallied 530 ponts in the last hour on the (widely expected) announcement of Timothy Geithner, President of the New York Fed, to be Secretary of Treasury. This is another example of outlandish volatility and the late run-up has no fundamental basis. The outlook remains bleak. DJIA +494 @ 8046 S&P +47 @ 800 Oil $50.43

For the most part, I fish an Avid AC66MF/ Core/ #12 Yo-Zuri Hybrid. When fishing lighter lures or at night, Fenwick Techna AV AVS70MM/ Sustain/ #8 Hybrid. My preference is baitcasting equipment for this technique, but I also fish spinning gear, the Techna AV. 8-)

Duh!

I believe a version of this rig is our Administrator's "Secret Weapon!" 8-)

Well, I'm mostly focused on fishing a particular one mile stretch. : Otherwise, just about the entire first 15 miles or so below the Pickwich Dam has gravel bars associated with the channel on the "inside" of the river. So, regardless of whether there is additional cover or not, there is always structure. Our "normal" pattern is to fish the gnarly stuff on the "outside" of the river. However, we have to have good water (20K+ cfs) to fish the rocks. Without fast, high water, it doesn't hold bigger fish. Most importantly, without the right current it's nearly impossible to fish without hanging-up on nearly every cast. 8-)

Well, I'm spooled up with brand new #6 original Hybrid on two spinning rods for an outing tomorrow. We will not have good water, so here's the plan: My main rod might be used with an X-Rap early, but it's still my split shot rig. #2 Main soft plastics rod: Maybe a Silver Buddy and a GYCB Single Tail Grub, but mostly a jig with a Flappin' Hog trailer. #3 Baitcaster, #12 Hybrid: Ledgebuster Single Willow Blade spinnerbait. We will be fishing the channel drop exclusively, all day. So, what do you think? 8-)

As we approach the end of the quarter/ end of the year, rebalancing and fund dispersements come into play. As the market continues to deteriorate, there will be a buying opportunity! When should the market trend higher? There is no magic number, but it comes with a twinkle of light at the end of the tunnel. You will miss the bottom, but can still pick up great prices. There is better value and less risk when the general market is on the way up, rather than on the way down! ** NOTE ** This morning's "dead cat bounce" has been very disappointing: DJIA -72 @ 7480 S&P -8 @ 744 Oil $48.56 8-)

No, not total liquidation, but this is the dark cloud hanging over the markets. No one knows the value of the underlying assets, but the losses may be staggering.

Here is a recent thread on fishing spoons: http://www.bassresource.com/bass_fishing_forums/YaBB.pl?num=1225119925/0 8-)

Having been wrong so consistantly, perhaps your observation is a bit bias. "Gas will never again be $2.00 per gallon. I suspect oil may stabilize at around $85. I think gas will drop to about $2.75. I think that's a low as it will ever go again." Maybe you should be paying attention to what is going on in the "real world". Leverage is the biggest issue we are dealing with. When the world economy is strong and growing, borrowed money exaggerates profitability. When business turns sour, debt becomes a heavy burden. To the extent that the introduction of derivative debt instruments has exploded in recent years, 250 - 350 TRILLION dollars must be "unwound". The world has never faced such an enormous challenge. :

http://www.foxbusiness.com/story/markets/industries/energy/average-gasoline-prices-fall--gallon-1990136934/ ;D ;D ;D ;D

Micro, Your advice over the long-term may prove to be sound, but recent projections on oil prices or stock indices has been something less than stellar. Although I certainly hope things will improve over time, the current situation is unprecedented in our lifetime. "Leverage" has put us in a situation that my result in the next Great Depression. Although I believe we will get through this, suggesting that people invest at the front-end of a recession is irresponsibe. We have some ways to go before equities are a bargin.

DJIA -444 at 7553 (lowest close in 5 years) S&P -54 at 752 (lowest in 11 years) Both indexes broke through previous intraday lows and within a few points of session lows. Overnight, expect world markets to fall off a cliff. Tomorrow's domestic market has the potential to be devastating. Govenment bonds, in every maturity, finished at their LOWEST LEVELS IN HISTORY! Three-month Treasury Bills yield .02, that's 2/100ths of 1%. Ten year bonds yield 3.00% Thirty Year bonds yield 3.44% The run in bonds warns of a complete meltdown in financial markets.

Welcome aboard! 8-)

How 'bout this: For $1MM per year, five year no cut and $10MM bonus if the ojective is reached... I guaranteed I can bankrupt any comapny in the world. I don't need $30MM a year and $100MM severance, I'll do it for $15MM all in!

No bailout, at least not today: http://www.foxnews.com/story/0,2933,455407,00.html

;D ;D ;D ;D $48.70 ;D ;D ;D ;D

Bankruptcy doesn't mean the business stops, look at the airlines. The Big Three cannot compete and therefore cannot survive with their current business platform. It's that simple. Without meaningful and specific targets, money spent to keep them afloat is wasted. Individually and as a group, they must tell the American public how they intend to be profitable going forward. As Catt says, "If you keep doing what you've done, you'll get what ya got!"

It seems to me that this topic is perceived by our membership as contrived, perhaps attempting to take comments out of context and use them in an unflattering way. I don't find the concept for the book interesting and choose not to participate, other than to alert others that may agree with me.

From three posts up: Re: Oil Prices Plunge! Reply #503 - Today at 10:52:42 OPEC has scheduled another "Emergency Meeting" for next week. I expect them to cut production quotas again in a desperate attempt to defend $50 oil. I doubt we will see a break through $40, at least in the short-term. However, demand for gasoline is highly correlated with economic activity. If the world economy continues to deteriorate substantially, there really is no bottom for oil. 8-)

Welcome aboard! 8-)

Reports of a bipartisan deal to address the auto mess: http://www.foxnews.com/story/0,2933,455407,00.html

Well, 1993 was a couple of years before the *** Bubble (1995-2001), but Muddy's friends may have been caught up in some of that. A lot of people lost everything. We are at the beginning of a worldwide recession, not in the middle or near the end. Individual stocks and indices will fall much further before recovery begins. Save your powder until everyone else cashes in their chips. 8-)

The DJIA breached 2008 intraday lows earlier, but has recoverd 100 points. Still, we are trading below all previous 52 week lows excluding today. DJIA -132 at 7865 S&P -16 at 790 Oil $50.45