# \*\*\*Economy thread\*\*\* **URL:** \ **Category:** NYSpeed Off Topic\ **Created:** [November 25, 2008, 9:01am UTC](https://forums.speedlife.net/t/economy-thread/58733 "2008-11-25T09:01:10Z")\ **Posts on this page:** 20\ **Page:** 4
**Author:** ![TradersBASE](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/tradersbase/32/5321_2.png) [@TradersBASE](https://forums.speedlife.net/u/TradersBASE)\ **Post date:** [December 2, 2008, 9:28am UTC](https://forums.speedlife.net/t/economy-thread/58733/61 "2008-12-02T09:28:57Z")
> [@Fry](#): > > Tradersbase, it seems like you are pretty knowledgable but some of us get put off by bragging about having called things on other sites and all that shepherd/sheep/end of the world bullshit you mix in with your posts. Try not to let the ensuing bickering bother you. I’m interested to read your takes on things. > > I’m out for a bit though. Ironically I’m going to use my lunch break to study for my macro-econ exam. You guys play nice or I’ll come back and quiz you on BP curves. :nono: You have way more wherewithal than I do, props for that! I want to go for economics but it’s just too dry and calculated for me. Good luck on the quiz and I hope to learn some of the textbook economics stuff from you guys. I’m more a freelance, self taught type that favors TA and psych. I am confident in my skills but not ego driven in the least. Simply, I want to take the tool the rich created to pilfer from the working class and use it the way they do. I’m not too proud to ride the coattails of the rich. 🙂 Sadly the markets are so wild and volatile here and they are not trending clean so I’m sitting cash. I’m hoping for a further lift on the DOW so I can get short to be honest. The cost of a short entry and/or to be long here is too risky for me given the over correction on the last wave of the DOW. So I’m in hurry up and wait mode, looking for a key level _or_ volatility contraction. The volume was too high on the lows to get long as I see it…way too much fear in the markets and further testing of the lows (if not lower) are something I’m anticipating. ---
**Author:** ![TradersBASE](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/tradersbase/32/5321_2.png) [@TradersBASE](https://forums.speedlife.net/u/TradersBASE)\ **Post date:** [December 2, 2008, 9:30am UTC](https://forums.speedlife.net/t/economy-thread/58733/62 "2008-12-02T09:30:43Z")
And I was the one boasting and bragging. LMAO Congrats. I hope the accounts are growing on par with the egos. ---
**Author:** ![Joe](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/joe/32/7219_2.png) [@Joe](https://forums.speedlife.net/u/Joe)\ **Post date:** [December 2, 2008, 9:36am UTC](https://forums.speedlife.net/t/economy-thread/58733/63 "2008-12-02T09:36:07Z")
Do what I did…enter both long and short. The ETF’s are such an easy play in this market. I’ve been holding the ultra’s on both sides, mainly in financials and basic materials, and just picking my entry and exit points based on perceived market sentiment. And the credit market? ![http://www.coolantarctica.com/gallery2/fids/images/fids_1000_ice-block2.jpg](http://www.coolantarctica.com/gallery2/fids/images/fids_1000_ice-block2.jpg) It will get worse in the immediate future as well. Basically, anything revolving or with a line is being slashed to the extreme or having the APR inflated to the point that the banks will profit no matter what. Housing, there are all of these loans that people default on, so they become bank owned, and then no one can get approved for loans to buy them, so they just sit. It’s a hell of a time to be liquid. ---
**Author:** ![cougarspeed](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/cougarspeed/32/7468_2.png) [@cougarspeed](https://forums.speedlife.net/u/cougarspeed)\ **Post date:** [December 2, 2008, 9:37am UTC](https://forums.speedlife.net/t/economy-thread/58733/64 "2008-12-02T09:37:37Z")
> [@TradersBASE](#): > > And I was the one boasting and bragging. > LMAO > > Congrats. I hope the accounts are growing on par with the egos. LOL so anyone that was smart enough to go short months ago and make money on the downfall has an ego? I do not have an ego ive had my ass handed to me in the market as well and am often times wrong. But the account is doing great! Thanks for the congrats. ---
**Author:** ![bing](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/bing/32/7211_2.png) [@bing](https://forums.speedlife.net/u/bing)\ **Post date:** [December 2, 2008, 10:13am UTC](https://forums.speedlife.net/t/economy-thread/58733/65 "2008-12-02T10:13:13Z")
TV says economy is bad. I dont like bad. ---
**Author:** ![TradersBASE](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/tradersbase/32/5321_2.png) [@TradersBASE](https://forums.speedlife.net/u/TradersBASE)\ **Post date:** [December 2, 2008, 11:18am UTC](https://forums.speedlife.net/t/economy-thread/58733/66 "2008-12-02T11:18:12Z")
> [@bing](#): > > TV says economy is bad. > > I dont like bad. HAHAHA We are just now in a “recession” based on the news. It took the market losing like 50% of it’s value to tell us this? Things are starting to get fever pitch doom n’ gloom which tells me things _could_ be shifting in the near future. Volume on the last lows was massive, now I want to see volume dying down showing a reduction in sellers on future lows (divergence). From there it will be a matter of looking for where the volume spikes again on the way up, well partially. I’m interested in what the USD will do with its current consolidation it’s built up. Thoughts fellas? ---
**Author:** ![Blue\_Eyed\_Devil](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/blue_eyed_devil/32/7292_2.png) [@Blue\_Eyed\_Devil](https://forums.speedlife.net/u/Blue_Eyed_Devil)\ **Post date:** [December 2, 2008, 11:21am UTC](https://forums.speedlife.net/t/economy-thread/58733/67 "2008-12-02T11:21:05Z")
Watch this vid on Fred’s site, it’s funny… [http://www.fredpac.com/](http://www.fredpac.com/) ---
**Author:** ![JoesTypeS](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/joestypes/32/7190_2.png) [@JoesTypeS](https://forums.speedlife.net/u/JoesTypeS)\ **Post date:** [December 2, 2008, 11:25am UTC](https://forums.speedlife.net/t/economy-thread/58733/68 "2008-12-02T11:25:28Z")
> [@TradersBASE](#): > > HAHAHA > > We are just now in a “recession” based on the news. It took the market losing like 50% of it’s value to tell us this? Things are starting to get fever pitch doom n’ gloom which tells me things _could_ be shifting in the near future. > Volume on the last lows was massive, now I want to see volume dying down showing a reduction in sellers on future lows (divergence). From there it will be a matter of looking for where the volume spikes again on the way up, well partially. > > I’m interested in what the USD will do with its current consolidation it’s built up. Thoughts fellas? Umm we’ve been in a recession according to the numbers since December 2007 ---
**Author:** ![TradersBASE](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/tradersbase/32/5321_2.png) [@TradersBASE](https://forums.speedlife.net/u/TradersBASE)\ **Post date:** [December 2, 2008, 11:41am UTC](https://forums.speedlife.net/t/economy-thread/58733/69 "2008-12-02T11:41:25Z")
> [@JoesTypeS](#): > > Umm we’ve been in a recession according to the numbers since December 2007 That was kinda my point. :mamoru: As I see it, news is best if used as contrarian input at extremes so I was bashing the news. ---
**Author:** ![TradersBASE](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/tradersbase/32/5321_2.png) [@TradersBASE](https://forums.speedlife.net/u/TradersBASE)\ **Post date:** [December 2, 2008, 11:54am UTC](https://forums.speedlife.net/t/economy-thread/58733/70 "2008-12-02T11:54:37Z")
> [@Blue Eyed Devil](#): > > Watch this vid on Fred’s site, it’s funny… > [http://www.fredpac.com/](http://www.fredpac.com/) HAHAHA. How did he keep so serious when saying those things? ---
**Author:** ![Blue\_Eyed\_Devil](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/blue_eyed_devil/32/7292_2.png) [@Blue\_Eyed\_Devil](https://forums.speedlife.net/u/Blue_Eyed_Devil)\ **Post date:** [December 2, 2008, 11:56am UTC](https://forums.speedlife.net/t/economy-thread/58733/71 "2008-12-02T11:56:18Z")
^Yeah, I hope everyone that watches it knows he is kidding. lol ---
**Author:** ![Penfold](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/penfold/32/5007_2.png) [@Penfold](https://forums.speedlife.net/u/Penfold)\ **Post date:** [December 5, 2008, 9:45am UTC](https://forums.speedlife.net/t/economy-thread/58733/72 "2008-12-05T09:45:51Z")
It has been reported today: 1 in 10 americans is in trouble with their mortgage. (behind on payments or in foreclosure) 10%… that is remarkable. U6 unemployment is over 12%. 12/100 people who want a job doesn’t have one or can only find a part time job. The economy’s deterioration is accelerating at an alarming rate. ---
**Author:** ![Fry](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/fry/32/7284_2.png) [@Fry](https://forums.speedlife.net/u/Fry)\ **Post date:** [December 5, 2008, 10:25am UTC](https://forums.speedlife.net/t/economy-thread/58733/73 "2008-12-05T10:25:18Z")
![http://data.bls.gov/PDQ/graphics/LNS14000000_239653_1228501390491.gif](http://data.bls.gov/PDQ/graphics/LNS14000000_239653_1228501390491.gif) Unemployment rate since 1948. It almost looks cyclical doesn’t it? [http://www.bls.gov/data/#unemployment](http://www.bls.gov/data/#unemployment) ---
**Author:** ![Avatar](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/avatar/32/5076_2.png) [@Avatar](https://forums.speedlife.net/u/Avatar)\ **Post date:** [December 5, 2008, 10:33am UTC](https://forums.speedlife.net/t/economy-thread/58733/74 "2008-12-05T10:33:29Z")
> [@Fry](#): > > Unemployment rate since 1948. It almost looks cyclical doesn’t it? > [http://www.bls.gov/data/#unemployment](http://www.bls.gov/data/#unemployment) It does look cyclical, but what is your point? It also seems the cycles are leveling off and elongating. I’m not sure what that would mean. How would that help me to understand the current trend? ---
**Author:** ![Fry](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/fry/32/7284_2.png) [@Fry](https://forums.speedlife.net/u/Fry)\ **Post date:** [December 5, 2008, 10:36am UTC](https://forums.speedlife.net/t/economy-thread/58733/75 "2008-12-05T10:36:21Z")
I’m just saying I’m not scared of what’s happening. From a certain viewpoint, it’s happened before and it will happen again. ---
**Author:** ![Avatar](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/avatar/32/5076_2.png) [@Avatar](https://forums.speedlife.net/u/Avatar)\ **Post date:** [December 5, 2008, 10:47am UTC](https://forums.speedlife.net/t/economy-thread/58733/76 "2008-12-05T10:47:33Z")
Yes, things will probably get better, but some people don’t have the ability to stick out the long-term. See that jump at about 1969-1972? Just wait until we bring the troops home to a jobless economy… ---
**Author:** ![Fry](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/fry/32/7284_2.png) [@Fry](https://forums.speedlife.net/u/Fry)\ **Post date:** [December 5, 2008, 10:49am UTC](https://forums.speedlife.net/t/economy-thread/58733/77 "2008-12-05T10:49:58Z")
> [@Avatar](#): > > Just wait until we bring the troops home to a jobless economy… Hm. Interesting. I never thought of that. ---
**Author:** ![Paulo](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/paulo/32/7328_2.png) [@Paulo](https://forums.speedlife.net/u/Paulo)\ **Post date:** [December 5, 2008, 10:51am UTC](https://forums.speedlife.net/t/economy-thread/58733/78 "2008-12-05T10:51:54Z")
I hate thinking about where this country will be in 10-15 years… ---
**Author:** ![Fry](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/fry/32/7284_2.png) [@Fry](https://forums.speedlife.net/u/Fry)\ **Post date:** [December 5, 2008, 10:54am UTC](https://forums.speedlife.net/t/economy-thread/58733/79 "2008-12-05T10:54:12Z")
> [@Paulo](#): > > I hate thinking about where this country will be in 10-15 years… Come on dude. Our generation has known nothing but change. Don’t be afraid of it. Yeah a lot of shit’s going to be worse, but a lot of things are going to get better too. ---
**Author:** ![Paulo](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/paulo/32/7328_2.png) [@Paulo](https://forums.speedlife.net/u/Paulo)\ **Post date:** [December 5, 2008, 10:57am UTC](https://forums.speedlife.net/t/economy-thread/58733/80 "2008-12-05T10:57:27Z")
Oh I’m sure they will. To be honest, I’m not all that worried about it. The problem is predictability, and planning for a future that doesn’t seem as certain as it did a few years ago. Either way, I’ll be applying for jobs outside of the US/Canada to see what’s out there. I’m not afraid of many things, but change certainly isn’t one of them lol. I’m scared of Gee-off though. He gets angry fast. [Previous page](https://forums.speedlife.net/t/economy-thread/58733.md?page=3) [Next page](https://forums.speedlife.net/t/economy-thread/58733.md?page=5)