Monday, May 25, 2009
As you may have noticed the posts have been less frequent over the last few months. Over that time, I’ve been contemplating a new blog (about which I am undecided).
In any case, for the moment, I’m just going taking a break.
So, I may post a few times over the summer as the mood strikes, but I won’t be posting regularly. Enjoy yourselves and keep an eye on the Obama/Bernanke debt and money-printing roll of the dice.
And prepare yourself for harder days ahead.
Thursday, May 21, 2009
If there was such a thing as Satan, the Catholic Church would represent his order.
Today’s news about the physical and sexual abuse of hundreds of Irish children entrusted to the care of the church is sickening. Here is the report.
This costumed sham, this coven of child molesters and duplicitous sleaze, should be destroyed. Arrest the pope!
Disgraceful. Shameful. EVIL.
Wednesday, May 20, 2009
The proof is there. Is the SEC investigating? (watch the Fox Business News video via Zero Hedge)
Something strange happened during the last 7 or 8 weeks. Doreen you probably can concur on this — there was a power underneath the market that kept holding it up and trading the futures. I watch the futures every day and every tick, and a tremendous amount of volume came in a several points during the last few weeks, when the market was just about ready to break and shot right up again. Usually toward the end of the day – it happened a week ago Friday, at 7 minutes to 4 o’clock, almost 100,000 S&P futures contracts were traded, and then in the last 5 minutes, up to 4 o’clock, another 100,000 contracts were traded, and lifted the Dow from being down 18 to up over 44 or 50 points in 7 minutes. That is 10 to 20 billion dollars to be able to move the market in such a way. Who has that kind of money to move this market?
On top of that, the market has rallied up during the stress test uncertainty and moved the bank stocks up, and the bank stocks issues secondary – they issues stock – they raised capital into this rally. It was perfect text book setup of controlling the markets – now that the stock has been issued…
Friday, May 15, 2009
At minimum, according the Deutsche Bank (courtesy of Clusterstock). Goldman Sachs has them falling another 58%.
And this with prices already down 20-25% (though DB has them down only 8% as of Q4 ’08).
Wednesday, May 13, 2009
.4%, with a revised to a 1.3% drop in March. This, against analyst estimates of a flat or small gain in sales.
They’ve been smoking the green shoots, of course.
In a related note, here’s Andy Kessler on the sucker’s rally. If you bought in the last few weeks, sell now. Take your profit and run.
Or not. In this time of magic realism, the Obama team could pull off anything.