Mark McHugh

Posts Tagged ‘markets’

I’m no Harry Markopolos either…(Me and the SEC)

In Open Thread on Wednesday, February 18, 2009 at 12:18 am

I’m trying to put a piece together that details my thoughts on  Harry Markopolos.  He is the stuff American heroes are made of.  If you haven’t read his 2005 report on Bernie Madoff to the SEC, it can be found here: http://www.scribd.com/doc/9231188/MadoffSECdocs20081217 .  I find it unfathomable that the SEC would ignore such a detailed analysis.  These useless cowards were handed a smoking gun on a silver platter and what did they do?  Tossed it in the trash saying, “another tin-foil hat wearing conspiracy theorist”.  Why should any of them be allowed to keep their jobs?  Or the money they were paid, for that matter?

I got no answers for you, people.  Just another disgusting story of sleazebags entrusted to protect the public looking the other way.  My own.

(There should be a “read more” button somewhere down there…….)

Read the rest of this entry »

Squashing Gold Bugs

In Open Thread on Sunday, February 15, 2009 at 6:58 pm

I’m an unapologetic conspiracy theorist.  I believe the people in charge would rather try to manipulating public sentiment(and markets),  than face reality (and justice).  I had reserved judgment on the new administration (which looked a lot like the old administration), until last week.  First we had last Thursday’s (Feb 05)  market likes the idea of abandoning mark to market rally.  Then, we had Tuesday’s Market hates Geithner fade (it was more than sell the news).  This Thursday (feb 12), we had a market likes helping homeowners rally to close the abyss.  Bullshit, Bullshit and more Bullshit. Point is, you are still dealing with a game of Three Card Monte (and not a cop in sight).

So what’s all this got to do with gold?

Everything.  The performance of gold is an embarrassment to Central Banks, Governments and Wall Street.  It confirms the idea that they are idiots, and more and more people are figuring this out.  It’s time once again to shoot the messenger (more accurately, push the messenger off the cliff).  Of course, as long as you can make it look like an accident…… Read the rest of this entry »

A Whole Flock of Black Swans?

In Open Thread on Friday, February 13, 2009 at 12:39 am

Pleas note: click on the headline to see charts full size.

OK, so I’m not above misusing the buzzword-du-jour, that’s not important right now.  From January 1950 until September 28, 2008 the S & P 500 had moves of 5% or more (up or down) a total of 19 times.  That’s an average of one every three years.  For perspective, keep in mind that so-called great earthquakes (8.0 or higher) occur about once a year.

swan1Looks like a .wav file, eh?

Lately, there’s been a whole lotta shakin’ goin’ on.  What took over 58 years to happen once,  happened again in just 78 trading days.  That’s right, there were 19 days between September 29 and January 20 with 5% moves (that’s an average of one every 4.1 days).

Interesting times, indeed……(hope you’ve got good veins in your legs)