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678 Miles

by The MoleOctober 18, 2008

Boy, am I glad expiration week is over – those coke snorting Prozac popping market makers turned the whole affair into a veritable roller coaster ride on steroids. First the bulls got squeezed early in the morning, then the bears got their turn – and in the end the $SPX closed 2 points away from where it opened. Now, that’s what I call progress!

So, for the people who voted on our latest poll here’s the answer: A stack of 100 Dollar bills worth $1 Trillion would measure 678 miles high – it would basically reach low earth orbit. The current tab on the bailout considering all combined bailout/salvage actions (but not even counting the creation of those alphabet soup lending windows) are already adding up to about $1.8 Trillion. Therefore Ben Bernanke, our fearless Fed chairman who has so valiantly fought to lead us out of this credit mess, should be rightfully awarded his set of astronaut wings. After all he has thus far handed out a stack of 100 Dollar bills 1220 miles high. We should be so proud, as his accomplishments are truly reaching gallactic proportions.

Anyway, Berk will do the weekend update, probably sometime Sunday, in the interim take a look at this little dance the Bear enjoyed recently on Wall Street. I for one find this type of exhibition completely tasteless – that’s why I’m posting it – to share my outrage.


About The Author
The Mole
Mole created Evil Speculator amidst the chaos of the financial crisis in early August of 2008. His vision for Evil Speculator is a refuge of reason, hands-on trading knowledge, and inspiration for traders of all ages and stripes. You can follow him and his nefarious schemes at various social media waterholes below.
  • http://www.for-really.blogspot.com Jana

    I am terribly offended.

  • nkm45130

    Ahh . . . if we could only launch him into orbit . . .

  • http://www.beanieville.blogspot.com beanieville

    Owe you a + Point up, for the sunshine girl. She has nice eyes.

  • C.C. Rider

    Can u sit on my lap for Halloween! Promise, no touching!!!!

  • molecool

    Remember: Whatever happens on Wall Street, stays on Wall Street.

  • HungryNewt

    Bears and Boobies…. hmm….

  • lisa

    It's like whatever happens in Las vegas stays in Las Vegas.

  • fuzzygreysocks

    Bollinger band breach + projection

    http://investorvillage.com/smbd.asp?mb=6800&mn=

  • fuzzygreysocks

    I'm offended that you're offended.

  • molecool

    You're like that guy with the accent in Family Guy who points out the obvious.

  • molecool

    That's actually part of my master plan for market domination. I managed to get him into the space suit, but I couldn't afford to fill up an Atlas rocket – maybe once crude hits $50.

  • molecool

    A lethal mixture – but somehow it works.

  • C.C. Rider

    Let's hope Lisa is more cerebral than that! I think she just trapped you in your own joke!!

  • nkm45130

    Sweet . . . I'll pitch in for that, no doubt 😉

  • C.C. Rider
  • http://z-stock.blogspot.com/ zstock

    Moontrader's lunar charts say the market goes up toward the end of the month.
    10-27-
    here's the chart

    http://moontrader.files.wordpress.com/2008/10/s

  • fuzzygreysocks

    Nice lawn.
    :-)

  • BigHouse (Aka Mr Vix)

    I wonder where Mole got the bears boobie clip lol

  • molecool

    Got to keep our resident Ueberbull happy.

  • fuzzygreysocks

    Ben Bernanke seeks to find a more efficient distribution method of taxpayer funds to Wall Street.
    http://i101.photobucket.com/albums/m47/fuzzygre

  • C.C. Rider

    I must say this screencast image capture is a cool feature! NDX closed Friday just under 61.8 fib retrace.

    http://www.screencast.com/users/texana44/folder

  • http://www.for-really.blogspot.com Jana

    I am terribly offended that I didn't think of that first..

  • fuzzygreysocks

    OMG, you're just so… competitive.
    I'm offended by you're competitive nature!
    HA!
    http://tinyurl.com/5e3ghu

    (An hour ago? WTH are you doin' up at… 5am? Kids?)

  • Ukla the Mokk

    A man after my own heart…I use fibs on everything…although I prefer the longest term where the most “coincidences” or “interactions” occur. I don't think NDX will reach all the way down to the 800s, but we'll see. I drew most of my fibs months ago and it is amazing how many times the underlying in question has bounced, sometimes almost to the penny, off the fib. Scary.

  • C.C. Rider

    Very close to going long silver and oil. Inflation and money supply are the signals.

    http://www.screencast.com/users/texana44/folder

  • jcoors

    Has anyone seen how batshit insane Roubini is? http://gawker.com/5064429/nick-denton-is-an-ant

  • molecool

    Meh – I've got more important things to worry about these days than the 'supposed' rantings of Nouriel. We don't even know for sure that was him posting – it's a blog for crying out loud and anyone can assume anyone's identity. But let's assume it was really him – am I supposed to get outraged by some blog comments, meanwhile the financial class is sucking this country dry of its last few pennies whilst planning their exit to greener pastures – after we get handed the bill for their decades long exploits?

    So, whatever! Let's focus on the 'real issues' – if you want to feel offended I give you something to feel offended about:

    http://econospeak.blogspot.com/2008/10/more-bai

  • jcoors

    Not something to be offended about, just something to look at with incredulity.

    As far as the real issues go – I'm already resigned to the fact that our country is bankrupt, we're going to have massive civil unrest, hyperinflation with declining wages, much higher taxes, martial law, internment camps, the criminalization of guns, the handing over of national sovereignty to the U.N., a New World Order with a massive forced transfer of wealth from rich to poor countries overseen by unelected Progressive bureaucrats, a strong possibility of regional or global nuclear war starting in the Middle East regardless of who is elected, so the econospeak link is just another tick on the table.

    Better to laugh at Roubini…

  • molecool

    I think Crude might bounce up to 90 on a very short term basis. Over the next year, I expect Crude to be taken down to the $50 to $60 barrel level where it will languish for a few months, maybe even until 2012 or 2013.

    I disagree regarding gold/silver – my short term outlook for both remains to the downside. Your wave count is significantly different than yours.

    The good news is: one of is going to be proven right! 😉

  • molecool

    You're pretty much right on with your outlook. I have been talking about all this for years, and most people thought I'm a nut. By the time this is all done I'll be either dead or own a farm on some remote island. Most of my money will go into a massive amount of solar panels, water filtration/desalination system, etc. By 2010 I expect to be completely off the grid and out of sight.

  • jcoors

    Let's get together for a drink bud! Lots to talk about…

  • http://www.evilspeculator.com berkshire

    Weekend post is up!!

    Skål!

  • molecool

    What he means to say is: CLEAN CUPS!!!

  • http://groups.google.com/group/monitoringthemadness/ johneeboy3

    I agree that we are, quite likely, watching the decline and fall of the US Empire.

    The only thing about what you said that I think is still yet to show it's hand is inflation.

    The current situation is quite clearly deflationary, but I agree that at any time Helicopter Ben (in a last ditch act of desperation) could fire up the printing presses. However, as forced inflation actually short-changes the bankers (they get their loans paid back, but with inflated dollars that can't purchase as much as the purchasing power of the value of a hard asset like a foreclosed property). Because Ben and the bankers are in each others pockets, I don't see the bankers (and therefore Ben) ultimately choosing this option (despite all the rhetoric to that end). After all, they want to save their own asses and cause the lower classes to foot the bill – that much is clear at least.

    And hyperinflating the currency would piss the hell out of bondholders China, Korea and Japan. They would dump their bonds faster than a hot stone – sending interest rates through the roof, making US govt debt unserviceable = US broke.

    But I'm no soothsayer, so I'll be keeping my ear to the ground for any sound of printing presses….

  • http://groups.google.com/group/monitoringthemadness/ johneeboy3

    My wave count is also ST/IT bearish on gold and silver (although the waves aren't the clearest at the present.

    I'm thinking Gold down to 600's or even 450-ish.

    This also fits with the current deflationary environment.

    I'll be watching for signs of a new bull market in gold to tip me off to the possibility that Ben has fired up the printing presses. At the moment, I'd say they are switched firmly OFF. Basically all the funds being raised for the ridiculous bailouts are sterilised to date (ie. not printing money).

  • http://groups.google.com/group/monitoringthemadness/ johneeboy3

    I agree that we are, quite likely, watching the decline and fall of the US Empire.

    The only thing about what you said that I think is still yet to show it's hand is inflation.

    The current situation is quite clearly deflationary, but I agree that at any time Helicopter Ben (in a last ditch act of desperation) could fire up the printing presses. However, as forced inflation actually short-changes the bankers (they get their loans paid back, but with inflated dollars that can't purchase as much as the purchasing power of the value of a hard asset like a foreclosed property). Because Ben and the bankers are in each others pockets, I don't see the bankers (and therefore Ben) ultimately choosing this option (despite all the rhetoric to that end). After all, they want to save their own asses and cause the lower classes to foot the bill – that much is clear at least.

    And hyperinflating the currency would piss the hell out of bondholders China, Korea and Japan. They would dump their bonds faster than a hot stone – sending interest rates through the roof, making US govt debt unserviceable = US broke.

    But I'm no soothsayer, so I'll be keeping my ear to the ground for any sound of printing presses….

  • http://groups.google.com/group/monitoringthemadness/ johneeboy3

    My wave count is also ST/IT bearish on gold and silver (although the waves aren't the clearest at the present.

    I'm thinking Gold down to 600's or even 450-ish.

    This also fits with the current deflationary environment.

    I'll be watching for signs of a new bull market in gold to tip me off to the possibility that Ben has fired up the printing presses. At the moment, I'd say they are switched firmly OFF. Basically all the funds being raised for the ridiculous bailouts are sterilised to date (ie. not printing money).

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