junkyarddog

Options Trader: Monday Outlook

What a tough day, oil reaching $130 for October on pure supply and demand fundamentals..., stocks tanking, panicking showing its ugly head, ald gold gaining a lot. The doomsayers had their day (week).

I can't wait for the next article tomorrow to see what Phil makes out of this insanity.

Options Trader: Monday Outlook

Your last words "be very afraid"... I already am. Afraid that the $700 billion mega bailout is not going to be enough. Afraid that my kids and their grand kids will still be paying to bailout the Wall Street casino playes, who should be in jail.

I'm really afraid that all we'll do is buy time (another few years) instead of fixing the problem: let the unscrupulous private banks fail and work on protecting the credibility of the governement itself and the dollar (what's left of it). Of course it's painful, but at least future generations will be (should be) freed from this deadly derivative virus.

Options Trader: Friday Outlook

These are crazy times, even worse than those of South America in the 80's. Remember their inflation of over 2,000% a year? Back there their goverment exausted all intervention options; all possible interventionists ideas ever written in all economic encyclopedias of the world. Of course, nothing worked for them, even changing their currency name several times AND declaring martial laws to freeze prices! What worked for them, starting in the 90’s (specifically Brazil)? It’s simple: their government stopped spending and printing money.

These are indeed scary and desperate times. All because of greed, out of control spending, and addiction to gambling (derivatives anyone?).

Thanks again for writing your articles free of charge to us, and shedding some light amidst such insane times.

Options Trader: 9/11 Redux

This is anyone's guess, but how long do you think this recession will last?

I'm living in a personal recession, even if the economists don't see that in their charts. The figures shown in the article above make my point.

I agree our problem is lack of leadship and over-spending. We're more concerned about war than prosperity. We spend like there is no tomorrow. Our government is really Keynesian, as they think and live as "In the Long Run, We Are All Dead". Thanks to Lord Keynes and his followers who simply didn't care about the future. They wouldn't live to see any economic ruin.

Our Congress is so corrupt it lacks the will and discipline to address our fiscal problems. All they think about is the next election. The idiotic democrats (and republicans) now talk about a second stimulus check, making ours a truly socialistic economy.

So, how long will this recession last? I just hope we simply can come out of it. I need more coffee...:-)

Don’t Buy What Wall Street Is Selling

We live in a debt ridden society and once in a while forest fires are a good thing to clear up the forest. We allowed too much worthless brush to creep in, now the burning will be intense until it clears up.

Like firefighters, the Fed can't put out the fire, but dig trenches only hoping to containi it. Well, we may need to simply let it burn.

The major risk to an out of control fire is high oil prices, which adds fuel to the fire (wow! pun intended). If we get a break from high oil prices for a while it may help the markets to re-align themselves without depression-era like crashes. Regardless, like surgery, it'll be painful but life saving.

This is all tough, a rough road ahead, but a good thing in the end.

Options Trader: Tuesday Outlook

Phil, I'm a big fan of yours! Your information is always backed with data end I wish your website subscription was a bit cheaper. On the other hand, you deserve to charge what you want and make money on your expert knowledge.

I just don't get it why you seem to be pumping up Obama, as he wants to tax oil companies to get us out of this mess. By no means I recommend McCain, all I'm saying is that our two options for president are hopeless when it comes to solving our self-made energy crisis.