Morning Call [7:28am ET] We have all heard the expression, “Wall of Worry”. This morning the Reuters headline reads, “Wall St futures point to gains after Apple results,” but I am afraid there will be skeptics who disbelieve the Summer Rally has commenced.
Today is travel day, as well as moving day, so most of my computer equipment has been moved to storage. Thank goodness because moving in to the Bahamas in 24 hours will be what will probably be a hurricane, making Nassau a direct target before moving northwest to Ft. Lauderdale and then possibly New Orleans.
Who ought to be concerned are those with an interest in Oil operations in the Gulf. So far, this storm has been rated by the National Hurricane Center as having a 70% chance of becoming a major storm. What usually occurs is that when a weather system like this hits the warmer waters of the Bahamas Bank, an underwater plateau in extremely shallow water, it picks up power. So, prepare for the worst – even if nothing much comes to happen as may be the case.
This morning, a combination of factors, including the Apple (AAPL) results, have pushed prices of European equities and US futures higher and faster.
http://finance.yahoo.com/intlindices?e=europe
http://finviz.com/futures.ashx
Just like me today, on a jet plane moving north, the world unfolding as it should.
Have a great day.
CTA Trading Desk Post-Close Report
Normally we focus on the day-to-day price action of the equity markets, but today let’s step back and subjectively analyze what has transpired since the March 2009 lows. In the throes of one of the greatest bear markets ever, prices bottomed at S&P 666 at the end of a 17-month bear campaign.
Leading into the new millennium the perpetual source of funds for cash-strapped consumers had been the line of credit on their homes, the ultimate ATM machine. Once the underlying value of their largest asset began declining precipitously consumers were forced to scale back on their conspicuous consumption, abandoning the urge to splurge and keep up with the Joneses.
The demise of venerable firms Bear Stearns and Lehman Brothers, and the near-death experiences of Morgan Stanley and Merrill Lynch, left an indelible mark on the American public. They retreated into the fetal position shunning risk as quickly as possible, grudgingly accepting a paltry return on salvaged savings concentrating on “return of principle rather than return on principle.”
The new messiah Barrack Obama promised to heal the country uniting people of all races to band together and defeat the common enemy – whoever that is. Equity prices rose from the ashes as investors sensed the market had discounted all the bad economic news and was poised for a recovery.
As stocks marched higher it became apparent many large managers were being forced to buy equities simply because prices were rising, with little conviction that the rise was sustainable. “Black Box” algorithms dominated trading, whipping prices back and forth in frenzied trading, seeking out historically high probability trading patterns.
While prices marched higher most of us scratched our heads knowing our standard of living was falling faster than we ever imagined. It didn’t make sense that our government was diving deeper into debt while assuring us this would cure our county’s ills. Since when does giving an alcoholic more booze cure his drinking problem?
After nine months of rising equity prices, shareholders tried to convince themselves the worst had passed, hitting the cocktail circuit talking about the breathtaking rise in stock prices. If you say it enough it must be true – all of us bought on the bottom tick at S&P 666, and we would soon make back all the money we lost in the stock and real estate markets. Right?
To most of us old-timers the manufactured rally in stock prices looked like nothing we had ever witnessed. There was no continuity from one day to another; stock futures often magically levitated higher overnight after ugly down reversals the day before.
The hallmark of the rally in early 2010 was subdued intraday volatility, a low volume steady climb higher as prices recaptured 50% of bear market losses. After prices peaked on April 26 everything changed as equities began swinging violently in all directions. The character of the market had immediately transformed with 90% one-sided volume days becoming commonplace – in short, a very unstable trading environment.
As we approach the end of the month the S&P appears to be coiling, getting ready to make a major move sooner rather than later. We are very near anniversary dates of the Korean and Gulf wars 60 and 20 years ago respectively. Today, Israel is clearly worried about the possibility of Iran having nuclear capability. Supposedly the US is ceding Iraqi airspace back to the Iraqis on August 1, so it makes sense the Israelis would launch an air strike before the end of the month.
This is a very long-winded way to say traders must completely avoid directional bias, throw their forecasting hat in the trash can, and simply concentrate on price action in these uncertain times.
If you have no preconceived notion about the direction of prices it is much easier to go with the flow and ride the prevailing trend. Unfortunately, with all the artificial influences in the marketplace today independent traders are forced to be more reactionary than proactive.
Be prepared for a radically different world over the next few years.
Let’s be careful out there.
| Attachment | Size |
|---|---|
| Blog_Jul_21.1.GIF | 226.19 KB |
| Blog_Jul_21.2.GIF | 16.04 KB |
| Blog_Jul_21.3.GIF | 123.1 KB |
Comments
Re: bonds flat - perplexing (repost)Dave,
Dave,
I suspect you are right in the assumption that the big boys jockeying is moving the markets. My job comment late yesterday was once again confirmed with a headline in my morning paper today: Senate votes to extend jobless benefits which will extend the recovery.
"Jobs are the problem for more people all the time and no one is addressing the problem in any realistic way. We live in a surrealistic time when media and government seem to be in total denial of what most people must deal with."
Extending benefits is an emergency measure which many will grasp with thanks, but people on the dole is like a dog snapping up scraps. A "negative income tax", "jobless benefits" by any name are not signs of a healthy nation nor can they sustain such a large percentage of our people.
We need JOBS! We need a congress which works for US. We need a president who is pro-American above all.
We have none of the above!
You cannot tax a nation into prosperity!
GSK Q2 Earnings
Q2 Turnover £7,025 million
Q2 EPS before major restructuring* 2.6p (29.3p excluding pre-announced legal charge)
Q2 dividend increased 7% to 15p
Why we should listen to Bill
Bill's years of experience can be a guide as well as a calming influence. This is something we desperately need in many areas today.
-----------
There is an interesting article by Peggy Noonan which I wish President Obama and his staff would pay close attention to.
YOUTH HAS OUTLIVED ITS USEFULNESS
7-16-10 Peggy Noonan
http://tiny.cc/rp9cy
(note: simply copy title into google for access)
Here are a couple of segments...
"The grown-ups took the buyout. The grown-ups were laid off. The grown-ups are not there."
"On Wall Street the concept of the statesman—the wealthy man who after a storied career enters public service and takes tough, risky stands on public policy issues—seems largely a thing of the past."
AND...
In journalism the effects of cutbacks and lack of mentoring are showing their face, and will continue to."
Cara 100 Ratings Changes
Good morning.
AAPL - PT Raised from $340 to $350 @ Stifel Nicolaus. Buy
AAPL - PT Raised from $349 to $350 @ Kaufman Bros. Buy
GILD - PT Lowered from $53 to $46 @ Oppenheimer. Outperform
GILD - RBC Capital Downgraded Gilead to Sector Perform from Outperform. The firm cites the Q2 report, negative TMC278 feedback, and a likely difficult 2H10. Target to $40 from $55.
LLTC - PT Raised from $33 to $34 @ FBR. Underperform
NGD - New Gold upgraded to Buy from Hold at TD Newcrest.
one of the best
earnings so far with this momentum stock with a chart ready for breakout off results. VMW
http://www.finviz.com/quote.ashx?t=vmw&ty=c&ta=1&p=d
Happy Birthday for a 2nd time.
Bill;
Since I was a day early wishing you a Happy Birthday, I'll try one more time. Hope this doesn't make you 40 instead of 39.
Cara 100 Update
APA - Apache upgraded to Buy from Neutral at Buckingham following the $7B asset acquisition from BP.
APA - Apache Upgraded to Sector Perform from Underperform at Scotia Capital.
JNPR - PT Raised from $26 to $28 @ Wedbush. Neutral
Re: Why we should listen to Bill
Grym, that was a very thoughtful article . The segment that hit home most with me , "Boring: that looks so good right now. Old, that looks so fresh, so new. " p.s. Thanks for note on copying into Google. Bob.
http://ronsen.blogspot.com/
http://ronsen.blogspot.com/
Maybe the BKX will return to a leadership role after a pullback. After all, it's free money they get.
One more thing
Davefairtex # 66043 , I also picked up some UXG Monday at 4.26, because RSI NEAR 30 , almost at it . And the proximity of 50 d.m.a. If it drops to $4 or close to it will acquire more. Bob.
Re: Why we should listen to Bill
http://patriotpost.us/opinion/peggy-noonan/2010/07...
a direct link to article.
Will be watching this vote:
couple of small companies working through existing government contracts would greatly benefit... http://www.govtrack.us/congress/bill.xpd?bill=h111...
Cara 100 Update (Final)
AAPL - price target increased to $340 from $325 at Barclays on stronger than expected iPad & iPhone 4 momentum. 2010 and 2011 EPS estimates lifted to $14.43 and $16.92, respectively. Overweight rating.
AAPL - estimates, target upped at UBS. AAPL estimates were boosted through 2011. Company guided higher and remains conservative. Buy rating and $340 price target.
ADBE - Upgraded to Positive @ Avian. Target = $35
APA - estimates upped, target cut at UBS. Shares of APA now seen reaching $125. On the other hand, estimates were boosted, given the company's earnings momentum. Buy rating.
GILD - Downgraded at Citi to Hold from Buy. Decelerating HIV trends in US and no near-term catalysts. Price target sunk to $38 from $54
JNJ - numbers cut at UBS. Shares of JNJ now seen reaching $69. Estimates also reduced, given the company's new guidance. Buy rating.
JNPR - estimates upped at Goldman through 2012. Visibility is improving. Buy rating and $32 price target.
MSFT - price target cut at Barclays to $30 from $32. Expect solid 4Q earnings beat. Inability to address mobile/tablet opportunity keeps us at Equal Weight.
WHR - target lowered at Goldman to $106. Company is losing market share in the U.S. and facing tough comparisons in Brazil. Buy rating.
......
toby... interesting take on ' clne '... do you mess with sub- $ 1.00 stocks ?.. if so, a capstone-like, last year spike is possible on an alternative energy play.. to honor Bill's request about these type equities, I'll just say ' flywheels '... putting risk reward, at this point, 30-70.. major investor seems to have paused accumulation at specified prices.. dyod for sure !
_____baz22
CLNE is interesting, several years ago many of the pick-ups in texas had tanks in their bed and could swith from gas to "gas" depending on circumstances...makes one wonder why it is not being done nationwide, especially in trucking industry.....only selling the $14 puts at this time because if I get put stock it will be a lows for the year and its almost a 4% cash on cash monthly return (cash secured). I do have several under $2 stocks and will look at your latest "cryptic" mention......thanks PS as an update I did sell the MYGN 14 puts for this month for same reasons I did the CLNE.........
Re: _____baz22
Years ago the "gas" they would switch to was propane. Propane goes to a liquid state at much lower pressures than nat gas. If we go to lng as opposed to cng it will be viable. The problem with cng for most vehicles is range. You have to have massive carrying capacity with cng. Lng has its own set of challenges.
imho
Ken
toby
sorry about the ' crypticness ' ( is that even a word ?! ).... wondering how many hedges and quants now have their claws into ' arna ' now.. oh well, go with the flow... best of trades to ya'...
Re: Why we should listen to Bill
First,
HAPPY BIRTHDAY BILL CARA!
In response to Noonan..... Now the generations that have led us blindly, naively, selfishly and without further thought into the current morass of despicable financial, political, medical, you name it... corruption and malfeasance wants to blame the younger generations for the CRAP we are currently enduring!?!!?!?!?!
I am in my very early 40's. I have been following the elitist agenda of dismantling nation-states for over 20 of those 40 years. I have watched the meticulous and pre-meditated destruction of my nation's economy. I have watched as our media was consolidate and propagandized. I have watched as rampant, unchecked, and merit-less development decimated the pristine environs of my youth. I Have watched as the public educational system was methodically dumbed down and made irrelevant. I have watched as the wall street titans and our politicians shat in our communal nests... sickeningly greedy purveyors of financial destruction hell bent on usurping what has never rightfully or lawfully been theirs. This young man watched the the confusion and consternation of my own parents as I tried relentlessly and without effect to EDUCATE them about from where this idiocy was being dictated and to where it would enevitably would lead. I have been correct at every prognostication (just ask my parents) and resented at every turn for this accuracy because it threatened their safe yet false world view.
For my own unique brand of masochism, I have endured a deadly education dictated by the interests and effects of self centered pharmaceutical and insurance industries as well as the indescribable indoctrination of our care providers into an ignorant, sub-standard, self-perpetuating arrogant dogma of half-truths and archaic, barbaric, BULLPUCKEY known to us as the "best medicine" the west has to offer. Medical institutions and industry has long since been infiltrated and managed by the same elder elitist agenda that promulgates that the best policy for the masses is utter control and enslavement. Degrade the peoples diets. Contaminate the masses with toxins in the form of innoculations and medications. Corrupt the peer review process, centralize and control medical accreditation and eduction, subvert FDA to perpetuate, repress innovation and technological development that would make any true difference and promote anything that destroys, compromises, or undermines true health... Outlaw, demonize, corrupt, and disrupt true health practices and promulgate false beliefs and procedures under the guise of science to further degrade the mental and physical competency of the masses.
Let me tell you.... and understand this very, very clearly.... The medical and scientific community is just as compromised and "ill" as our current political and financial arenas. And just like the highly paid and well educated economists and politicians whose utter ignorance and ineptitude we suffer daily, we also suffer the same intellectual and moral bankruptcy in health science.
All of these experts suffer from an inaccurate perception of reality within which they live and work. The distortions that cloud their perceptions and judgment were meticulously nurtured and reinforced to the point that the vast majority of these individuals are not even consciously aware of these errors. And more importantly, they are fiercely dependent upon and defensive of the control systems, the propaganda, the fallacies and inadequacies under which they suffer.
No, Noonan, our circumstance will not be yoked by youth. The blame remains well away from age-isms... If anything, it will be the rebellious and in-gracious attitude of a repressed younger generation that finally breaks the logjam of filth and vitriol that is destroying this planet. Things will only change when youth seizes power and control away from a very old and ingrained system that has manipulated reality covertly in accordance with dogma dictated to us by our hidden ELDER controllers and their forefathers.
To my parents and their peers I say, once again, somnambulance is no longer a viable political policy! I have always aspired against my own better interests to educate within this reprehensible circus called public life, as have many, many of my contemporaries.
SO, NOONAN, DON"T BLAME THIS ON US!
Riddle Me This
http://ronsen.blogspot.com/2010/07/no-disrespect.html
Why the apotheosis of central bankers? Has central banking made our lives better or worse? Are you better off during the Greenspan-Bernanke era?
Has the military-industrial-academic complex miraculously pulled the greatest mass of wool over the collective eyes of humanity?
Perhaps quisling would exaggerate, but in these parts, Buckner might understate it.
Inv Intel
Dead even with Bears and Bulls at 35.6%
FYI the lowest Bearish reading since March occurred April 21st when the % of Bears was 17.4.
a friend asked why I mess with
bio's.... most people, myself included, would probably say potential quick, large percentage gains ( and the flip short-side, also ).. but I said ' global ', that a drug is not confined to the country its made in, making its growth potential almost unlimited if it is, indeed, novel and effective.. so we have had DNDN, HGSI, AKOR, etc.., and not long ago DNA, CELG, AMGN etc.. One of the best guides I hear, and use, is ' barriers to entry '... Its a long, twisting road, but it sometimes really does pay to ' buy and hold '... one can always use shorter term options ( tobyt ?!! ), but, and maybe its just me, trying to find the diamonds in the rough is what makes it all worthwhile and keeps life, and trading, a little more on edge, fine-tuning the senses, and more often than not, its found in the land of sub- $ 5's.. anyway, good trades to all...
"shorter term options"
baz22 cut me to the quick {whatever that means} and after I just bgt several thou of his "cryptic stock" reco from earlier since their backlogs have increased 40%. A buy and hold decision.....as an aside I really enjoyed MtnGntx's post......
A time to quit, a time to reason
BP CEO to quit in 10 weeks: Report
http://presstv.com/detail.aspx?id=135707§ionid...
People better start buying more ipads and iphone 4's
...
2pm issue
So what happened at 2pm that caused the euro, the SPX and gold all to just tip over and collapse anyway? The only thing I can find is some Bernanke talk to Congress...
Re: Why we should listen to Bill
MtnGntx, thanks for sharing, brilliant. T3D
Re: 2pm issue
It was Ben.
http://www.businessinsider.com/markets-tank-instan...
Cheers.
Re: Why we should listen to Bill
Thank you, MtnGntx!
Goldman denies links with global food crises
http://bit.ly/a4I8xY
sorry, meant ' acor ', not ' akor '...
quite a difference.... wonder what Kaimu is thinking about Ben's response a few min. ago as to the debt question ( $ T's )... am I mistaken, or did Ben say the mortgage backed securities have lost about only 10 % ??? Huhhh ??
Re: Why we should listen to Bill
MtnGntx,
Obviously it was not the young who laid off the experienced machinists, sales people, artists and typesetters, news media — it was a group from my own generation. However, that does not change the effect which is that there are few to mentor the younger set who is now by and large running so much of the country.
I see a drop in quality in so many ads, magazines and newspapers as well as in verbal communication. Grammar and use of slang, misspelled words and poor hyphenation, photo quality, sloppy illustration work, instruction sheets with the wrong or misleading diagrams, etc. (I was in advertising for 40 years.)
She chose to criticize those people who are in her field. I'm sure there are similar things which bother others in various segments of the workforce.
Any "blame" must, as you point out, go to the older among us, but we are all the poorer for what has happened.
Obama happens to be young and, IMO, without the capacity to deal with the office. Carter was older and equally inept. I'm sure we must have a more capable candidates somewhere in 330 million people. I just haven't seen any lately ;-)
Grym
did you get the memo?
Consumers are have stopped consuming! It's a mass underground movement! Spilling above ground as I write!
Nowhere in our constitution does it suggest that our great country's economy must be based on consumerism. Recent straying from the path of greatness has taken us to the poorhouse. This need not be.
Many Americans have decided not to participate in an economy based on our levels of consumption. What is our new economy to be based on? Applying one's faculties and learning new skills is a start. Giving good service or value for what one needs is a means.
We see what the the titans of industry and governance have wrought by their greed and once we get over the shock/anger/denial/bargaining grief process of our endless debt begetting machine we can accept what has transpired. We smile. Solid citizens are opting out of many of the conventional financial conventions they have lived by. We are cutting up our credit cards and walking from our mortgages.
This blessed mother of all inventions will no doubt produce some unexpected and needed answers for rebuilding our culture based on higher values. How about Conservation? Innovation? Inspiration? Wealth building and abundance? Sharing and caring? I do go on. The handwriting is on the wall for any form of governance that thinks it can keep citizens lashed to it's addictive wheel of consumption. We are sick to death of the ride. We have better means to find happiness and many of us are on that path. One step at at time.
Re: Why we should listen to Bill
Grym,
Those who are capable, dependable are smart enough to not want the job. Nor are their egos that needy.
Re: sorry, meant ' acor ', not ' akor '...
ALOHA!!
I did not read or watch Bernanke and his speech on how great AAA America is. I rarely give liars the time of day.
I am not sure what mortgage backed securities Bernanke refers to, but perhaps we should take a peek at the ones the US FED NY holds in their own portfolios named MAIDEN LANE.
Okay you prompted me to update the Maiden Lane I, II and III ratings. Never mind "fair value", that is corrupt as I am not sure how you can have "assets" that are 96% rated at junk or less and still only have a 10% loss. There seems to be a major discrepancy between the ratings and the fair value. Perhaps that is because the fair value has nothing to do with current market value. Has the US FED NY sold any of these so called assets yet in order to determine market value? The short answer is NO.
The following ratings are as of March 31, 2010 ...
MAIDEN LANE I - This was the JP Morgan bailout
AAA = 1.5%
BB+ and lower = 8.1%
GSE(FNM & FRE) = 86.6%
MAIDEN LANE II - AIG bailout of JPM and GS
ASSET RATINGS
AAA = 7.8%
BB+ and lower = 78.3%
MAIDEN LANE III - AIG bailout of JPM and GS
ASSET RATINGS
AAA = 1.5%
BB+ and lower = 96.6%
NR = .2%
Total BB+ and lower including NR(Not Rated) = 96.8%
There you have it mostly junk assets that have only lost 10% ... Hummmm??? Nothing Bernanke says adds up. Remember these Maiden Lane assets are managed by BlackRock another US FED member bank so credibility and transparency might be issues. Still the ratings speak volumes.
I threw in the percentage of the asset portfolios with AAA ratings and as you can see they are extremely low. The bulk is "junk" with the rest in the middle of AAA and junk. Note that most of Maiden Lane I assets now resides over at FNM and FRE in the taxpayers pockets. I wonder how much longer before the other two Maidens will end up in the taxpayer portfolio at the GSEs of FNM and FRE? We all know how reputable and stable FNM and FRE are. By labeling 86.6% of Maiden Lane I assets as "GSE" they avoid any rating at all. Do you think if those 86.6% "GSE" assets at Maiden Lane I were worth anything that the US FED or JPM would hand them over to the US Taxpayers?
Bernanke insults my common sense. Perhaps Princeton needs to start a new curriculum entitled COMMON SENSE 101 ...
LINK: http://www.newyorkfed.org/markets/maidenlane3.html
Re: Why we should listen to Bill / MtnGtx
MTN GNTX
Great post .. the more we understand how we got where we're at... the more frustrating it becomes.
I really agree with your description of the pharma, medical and insurance sectors.
The Washington Post is currently releasing a multi part story on national security titled TOP SECRET AMERiCA. The scope of the national security apparatus is immense and growing rapidly... and may expand its domestic focus
as we go forward. BAD
Are we really in that much danger that some country on the planet will destroy us in a moments notice if given the chance? Or is it a cumulative product of our cold war nuclear paranoia and run amok by lifer bureaucrats?
It all seems a little insane
It must be all about the money.
a highly recommended reading for inquiring minds
www.washingtonpost.com/topsecretamerica. ( today's paper features part III)
Re: 2pm issue
So when I was talking about a move into (or out of) bonds, this is what I mean. Money started flowing from stocks right into bonds starting at 2pm. Someone flipped a switch, decided to swap risk for safety, and gold, the euro, spx, silver all went down at once.
10 year treasuries are now yielding 2.9%
As best I can tell, the equity market wasn't picking sectors to pound - every sector got hit, as if (say) the russell 5000 was sold rather than individual issues that were thought too risky to retain. "Everyone out of the lifeboat and into the water!!"
I'm guessing things will be more refined tomorrow, but it certainly was an interesting effect.
Another Nasdaq high flyer is getting smacked NFLX
Down 9% after hours.
http://bit.ly/aNMqwq
Re: Why we should listen to Bill / MtnGtx
Hey, Kids...
Not all conspiracy is theoretical and not all of the Cold War was paranoia.
Does it not concern you that Russian spies were still here almost a quarter century after the "end of the Cold War"?
As one who was on 24 hour alert for a year as the Berlin Wall went up and once again ready to go when the Soviet missiles were aimed our way it seemed every bit as real as when robber had me and my son at the point of an S&W.38.
I would be the first to concede we are far from perfect, but on the other hand neither are we always villains.
Notice that more people obviously want in than out — there is no illegality in leaving any time things here are totally repugnant to anyone.
Re: Why we should listen to Bill / MtnGtx
This is not about blame, it is an issue of survival. I don't agree that we must suffer armageddon in order to grow up morally and spiritually. I think this planet is ripe with opportunity and an almost universal desire for healing. I think it is time we give those ideals a chance.
I have no intention of abandoning my birth land to the vultures with whom we are dealing. And I love my parents; I harbor no condemnation of their humanity, or my own. As far as I am concerned, we are all in this together... and that includes everyone reading this.
With respect to my more heretical proclamations....you can lead a horse... come on in, the water is fine.... the truth will set you free.... yadda, yadda....
Happy trading.
Re: Why we should listen to Bill / MtnGtx
repeat post.... sorry
Re: "shorter term options"
But, but !! Its like ' Chad ' says in those Scottrade commercials, " But what about the fun ? ....... The Fun ?? "...!!!!!! me thinks you've made some pretty good choices ! Peace.
Great Post-Close Trading Report
Thanks for walking us through the past year's+ market history. Saying its been surreal is a understatement. If only we could track primary pricing trends with any degree of certainty. The charts look to be in a shark tooth pattern...up during the day, down at night after market close, then the flip-side. Be careful out there..yeah...try to avoid getting eaten alive is more appropriate!
Re: Why we should listen to Bill / MtnGtx
MtnGtx,
I agree. What a great post. Hopeful attitude as we approach the abyss, which is not falling off a steep cliff but a slope with recovery opportunities on the way down.
What can I do with an uber-strong currency?
http://www.telegraph.co.uk/finance/comment/ambrose...
say over the next ten years the Franc remains Europe's preferred monetary investment. What can I do with a strong currency? I don't want to consume. I can see purchasing a house in Euro land, but with demographics and taxation I'd have to think "location, location, location" in order that the investment pays a return - a small holiday rental in Paris or something like that.
Does anyone have any other ideas with a strong currency in hand? I wish to set up a Harj Gill mortgage plan soon and then am wondering what next? Let's say Euro is dead in present format and needs 10 years to bring about reform and renewed confidence. A 10 year window to use a strong currency... how?
Futures 1am - mixed trading in Asia
S&P -16.60 / -1.54%
Level 1,063.50
Fair Value 1,066.01
Difference -2.51
Nasdaq -1.50 / -0.08%
Level 1,814.00
Fair Value 1,815.29
Difference -1.29
Dow -7.00 / -0.07%
Level 10,051.00
One of the funniest things i have read this yr...
I know the content from Zerohedge is polarizing. But i still check in for entertainment. and boy is this intro description funny, describing the video produced by our White House, on the whats and whys of the "Consumer financial protection agency" and "What Wall Street Reform Means for You"
The author quotes "The White House has released a video (in HD cause its so damn cool, and with subtitles for those immigrants among you who don't quite understand the Enlgish) for idiots who still don't grasp that Wall Street reform is nothing but a farce almost as unabashedly idiotic as the early Friday release of the Farce Test coming out of a thoroughly bankrupt Europe, which will find that of 91 banks on the old continent, only 10x bankrupt Hypo is undercapitalized, and all the Greek banks are perfectly solvent. Right. Whatever. And in keeping with the tradition of Keynesianism for Kretins (sic) released previously by the Goldman HoldCo better known as the New York Fed, the administration has now realized that the only way to touch its intellectually challenged constituency is by summarizing its achievements in cartoon format, easily viewable on an iPhone. Coming soon - "Why Shutting Down Tendentious Blogs Is Great For The Children" in 3-D IMAX. The explanation provided by the "White House" for this pathologically moronic cartoon is: "A quick and simple animated explanation of how Wall Street Reform will work and what the strongest consumer protections in history will mean for you and your family." And yes, this comes from your ruling elite."
And now to the message approved by your masters...oops i meant leaders.
White House approved video: http://bit.ly/93KwFy.
Screen shot: http://bit.ly/cN6lse
If this pic is not giving the message to avg investors that Wall st cannot be trusted, I dont know what will convey the message.
"Accountability for Wall St = Protection for You" So what does this say about the wall street institution and conflict of interest? Wake up America! it is spelled out for you in simple text, audio, and subtitles in various languages.
Why i am still laughing several hours after reading this for the 1st time:
1. Does the govt think we are that stupid?
2. Are we that stupid?
3. Did Wall St sponsor this ad?
4. Does HB&B already know that we are that stupid?
5. We are that stupid and this is going to just repeat again in a couple years.
Re: What can I do with an uber-strong currency?
Les!
Build your sustainable green home with San Juan Island and Mt. Baker views! Then: rent your ultra kitted out home as the sales office for a year while prices climb. Hard to beat that offer...no doubt the show home will get lots of special perks as well as best price. Then rent for the time you are not needing the view...all managed by those smart Canucks with friends! http://www.liveathorizon.com We happen to be having an open any time you are available (like Saturday?)
Re: Why we should listen to Bill
The capable ones aren't put in front of us
Futures 5am - European autos and banks up
S&P +11.20 / +1.05%
Level 1,075.10
Fair Value 1,066.01
Difference 9.09
Nasdaq +19.50 / +1.07%
Level 1,835.00
Fair Value 1,815.29
Difference 19.71
Dow +82.00 / +0.82%
Level 10,140.00
Something to ponder
Maybe years of printing isn't the answer:
http://www.businessinsider.com/one-day-the-yen-may...
AUD is in play
From Collin Twigg:
The Aussie dollar is testing resistance at $0.885 after a short retracement, indicating that upward breakout and an advance to $0.94 is likely. Reversal below the rising trendline, however, would warn of trend weakness. Twiggs Momentum needs to continue rising (above 5%) to provide evidence of an up-trend; reversal below zero would be a bear signal.
Re: One of the funniest things i have read this yr...
NYUGrad,
I had the same reaction yesterday when I first viewed it, but...
1. Does the govt think we are that stupid?
Apparently
2. Are we that stupid?
Well, "we" elected these guys and let them make all the rules.
3. Did Wall St sponsor this ad?
Is there any "separation of powers" where money is concerned?
4. Does HB&B already know that we are that stupid?
Who got bonuses for screwing the country?
5. We are that stupid and this is going to just repeat again in a couple years.
Possibly as soon as this November.
Re: Why we should listen to Bill
"The capable ones aren't put in front of us"
The few who try are soon discouraged.
Cara 100 Ratings Changes
Good morning.
ECA - EnCana downgraded to Neutral from Buy at UBS. Target remains $34.
FCX - Freeport McMoRan upgraded to Buy from Sell at CLSA based on expectations for improved copper prices. The analyst believes China is mostly done with tightening measures and that downside in copper prices is limited. Target $85.
KGC - Kinross Gold upgraded to Buy from Hold at TD Newcrest based on valuation and higher gold price forecasts. Target to $24 from $22.
QCOM - PT Lowered from $49 to $46 @ Brigantine. Buy
QCOM - PT Lowered from $49 to $47 @ FBR. Outperform