The end of 1999 was the meltup of all meltups. You could buy any tech IPO and watch it go 10X within months. QCOM, COMS, BRCM, just to name a few. Funds up a few percentage points in July of that year ended up +100% by December 31st. It was a ridiculous, fun, and a fish-in-the-barrel experience. Of course, everyone crashed and burned just a few months later, including me. Regards, PTR
Yes, those were the days. We were all paper millionaires, then gave it all back by 2003. What was painful was having to pay tax on all the trading gains but only $3,000 per year after 2003 for trading losses. Took me years to write off those losses.
Bye bye European Banks... china thanks you for the money, wonder how Europeans will react when ECB Bails out the European banks and they find out Trillions of US loans went to china who are mass defaulting in Eurodollar markets by that time ? Collateral garbage, Spain and Germany loved lending US Dollars to china, Tic Toc... Some Canadian banks will get it, off the balance sheet FX derivatives as well as Japanese banks will get it due to lending china USD... But Europe, they should have the flag of EU in Shenzhen! Shit chinese bonds are required 2 to 1 value on collateral now, and that's in local interbank markets... Shibor at 1 %, lowest since November 2009, imagine collateral requirements for International Money Markets ? chinese government bonds or no usd for you! Bank of Jinzhou and Bank of Jilin next... Mutual funds defaulting already among the almost daily defaults now it seems in credit markets in that corner of the world
China doesn't have much debt. A few trillion? They'll just cash in our bonds. Well then buy them ourselves to keep rates low. government debt is different than private debt. Government's make the money.
Making gazillions by shorting...something. We're still trying to figure that out since neither the stock market nor junk bonds have crashed this year like he predicted...quite the opposite, actually.
%% That is a good quote; + SQQQ is melting up today, anyway. BUT QQQ main 200 day trend is still trending up. Too bad for the bulls JULY tends to be down for QQQ. NOT a prediction+ not long TSLA,
%% Some junk bonds are almost like junk silver; one man's trash is another mans treasure LOL. As far as trying to figure out why a pre-election uptrend tend to be super-strong;not hard to find a good uptrend.NOT a prediction+ not long TSLA