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i wana jone ET i her its rel ez

You wonder if he's been buying all the way down. That's sort of my reaction to the piece. Anyway, somebody else likely was if not him, and we haven't seen it hit yet in the market in a big and public way like LTCM and the like. This big of a move that just keeps squeezing aught to produce one soon

Is there any way to short Andy Hall? He might be the overhanging supply about to be liquidated.

Hey that reminds me--Is Robert Prechter still around? He used to move markets in a similar scary way.

I would say, look for some signs of hysteria in either oil or sp for some kind of bottom. Usually bottoms and tops take time to form, so there's no rush. I've spotted my first newbie trying to find a way to buy oil puts, so there's a straw in the wind.

The problem for Bernie is no one woke up this morning and decided to start a non profit ratings agency.

That's true, many people don't necessarily know how the markets operate. And many seem to like it that way. Remember, you have your own bias. The markets are different than what is in your head. I still get the feeling you don't want to sell, just open an office and have people stop by on their...

What happens to the theoretical non profit if they make a mistake? I mean a bad mistake. Like failing to uncover a fraud. Usually in these circumstances it is found upon investigation that an employee or two knew what was going on but was ignored repeatedly by management. Same as in the private...

Why don't we just get rid of the ratings agencies and let people think for themselves?

I'm not disagreeing with you on either point. My question is then why are they still in business. Maybe there's no alternative. I don't know enough about the business mechanism to go further. Does the market really pay attention to these ratings, or is it just a formality at this point?

If it provides inaccurate credit reports, can it expect to stay in business?

The problem with trying to be tactical is you are asking your clients to make trading decisions. If they were good at making investment decisions they wouldn't need you. It's difficult enough to be a successful trader. Now you want to educate people so they can make more profitable decisions...

I'm also skeptical that a nonprofit can attract the same quality of talent as a corporation. Money might be a motivation for some.

The employees of a rating agency don't have a fiduciary duty to the shareholders. The corporation does. Big difference.

The bears are only winning the shorter time frame. Even if they are right, they have to fight the bulls all the way down. Bigger time frame participants will see a market selloff,as an opportunity to buy, and they have the longer term trend to lean on. That's what makes a bear market so hard to...

I was being sarcastic. No I wouldn't. You could probably pay people within a non profit, or not for profit, but I'm pretty sure their work would be mediocre.

Even if you knew that all of this stuff was going to happen, you still have to present it and let people decide for themselves. And there's always potential risk out there which just can go on for years and years and years without being fulfilled. If you want to educate the world about the...

Right. Now that you say that it's pretty obvious. Non profit means altruistic, free from greed. So the ratings agencies should be run like Habitat for Humanity.

The reason I don't think it's 2008 is because it already happened and there doesn't seem to be the same level of risk out there. The high yield market is always vulnerable when the markets contract like this. Also some trader said that biotech was the new bubble, but I don't follow it. Any...

You know, I really like that. It's so easy to be a pessimist. You see it here often. But there's some excesses that need to be corrected. I mean, China has been basically in a bull mode since at least 1992. I never thought I'd see the day when all their market manipulations would come home to roost.