- The market up a bit this week. My guess is that there are more things working in the bull favor than the bear favor this week. Quarter end means funds will want to own the winners to show them in their quarterly statements. Month end means 401(k) adds are automatically dumped in mutual funds. Holiday week means volume will be light and "they" say never short a dull tape.
- Just a guess. But that's mine. Up this week. Oh, and what's been up? That seems likely candidates for the dog pile.
- Bad math? E*Trade shares today rose 1 cent, or 1.6%, to $1.29. It's been awhile since my college math classes, but my Windows calculator has a 1-cent move up from $1.28 to $1.29 being about a .78% move. The article linked to makes a case for ETFC, but you have to wonder about the numbers they throw around when they're not getting their percentages right. Just saying! (Disclosure: Long ETFC).
- I skipped the Michael Jackson (not pictured) coverage this weekend. I wasn't a big fan of his music. In the 80's I was listening to Van Halen and Motley Crue. From a financial angle, the guy owed $400 million. So was the guy rich? He earned a lot, but spent a lot more. They say he has a lot of unreleased tracks, so maybe there is a lot of money there waiting to be made.
- Hayden Panettiere has no problem with nudity. "You never know." I don't have a problem with her being naked in a movie, either. Looks like we're all in agreement, Hayden.
Monday, June 29, 2009
Friday, June 26, 2009
- I think the stock market could put on a rally for quarter end and month end. Especially the leaders (Nasdaq 100). We'll see if that's too obvious, but we're entering month-end strength as 401(k) money is dollar-cost averaged into mutual funds and as those mutual funds position themselves to own all the winners for their quarterly statements.
- Just thinking out loud.
- California Governor Arnold Schwarzenegger could just make movies to help resolve the California budget crisis. The Governor has proposed selling California property to raise money. But wouldn't an easier way be to make more movies and donate all proceeds to the budget?
- Michael Jackson spent his money faster than he earned it. By 1999, he was earning $11 million a year but spending $31 million. Hey, he could've been a politician!
- From Carpe Diem, ECRI leading index shows first positive growth in 22 months.
- Digging this iphone MLB.com app. Repeat myself I do, Yoda.
- Got the Cubs-Chisox game on. LOL.
- US Savings rate up. "In our view, the savings rate will need to stay above 6% for some time to restore household balance sheets to pre-credit boom days," wrote economist Sal Guatieri at BMO Capital Markets in a note to clients. The move for households to pull back spending, and shore up their finances may hurt the economy in the near-term as aggregate consumption remains weak.
- Use a Cheeto, go to prison. Authorities said a couple got into a fight using Cheetos. The Bedford County Sheriff's Department said a 40-year-old man and 44-year-old woman became involved in a 'verbal altercation.' Somehow, the orange puffy snacks were used in the assault.
20% inflation coming, according to Marc Faber.
Since the creation of the Federal Reserve Bank in 1913, the dollar has lost 95 percent of its purchasing power, Faber said.
“It took 100 years to lose 95 percent (but) I think the next 94-percent loss in purchasing power will happen very quickly,” he said.
In such a volatile market, Faber thinks the safest place to invest is in equities or assets, even real estate.
"I'm not very bullish about real estate prices in the U.S., but I'd rather be in real estate than in 30-year U.S. bonds," he said.
Yes, it seems as if everyone is predicting runaway inflation in the near future. I suppose I'm getting sucked in to that mania as well because I can't see how near 0% interest rates and trillions in government deficit spending won't result in cash raining down from the heavens.
But we have seen an incredible destruction of wealth via the decline in the stock market and in real estate. People don't have money, unemployment is rising, and people have cut back on spending.
I'm on the side that the economy has turned around and the Fed will be too late in adjusting rates, as they usually are. The Fed is reactive, not proactive. At their current rate, I think the bias has to be for an outlook of inflation.
Could the CA housing market be turning around? The first clue would be declining inventory of unsold homes:
Sales of existing homes are continuing to surge in California, according to the California Association of Realtors, but since many of them are distressed properties, median prices are continuing to sag.
Home sales in May were 35.2 percent above those of May 2008, CAR reported today, but the median price was 30.4 percent lower. Nevertheless, the median price of $267,570 was 4.2 percent higher than April's median, and the inventory of unsold homes dropped to 4.2 months in May, less than half the rate a year earlier.
The pace of buying is picking up and the number of homes available is dropping.
Thursday, June 25, 2009
Quite a day as the market rallies heading into the end of the month and end of the quarter.
I've been a little detached from the news the past few, but remain 100% long the market.
Big news today isn't the markets but the deaths of Michael Jackson and Farrah Fawcett. Bad things happen in threes, as they join Ed Mcmahon. Wow.
Tuesday, June 23, 2009
- IBD began today still having the market under pressure. Surprised they didn't flip to correction mode with yesterday's selling and many leaders violating 50dma. They say the lower volume made the day less than it seemed.
- Pre-Fed day on the market, as folks sit and wait it out. Market decides not to do anything today and to wait it out and see if Bernanke waxes on or waxes off on the future, interest rates, etc.
- A fourth-generation nuclear reactor that runs on nuclear waste. PRISM is GE’s (GE) name for an integral fast reactor, or IFR, and it’s a pretty great technology. The amount of fuel which already exists for such reactors would be enough to power the world for millennia — no new mining needed. Fast reactors also solve at a stroke the problem of what to do with the vast amounts of nuclear waste which are being stockpiled unhappily around the world. They’re super-safe: if they fail they just stop working, they don’t melt down. Very cool. Build 'em!
- Insurance companies warn that nationalized health care would dismantle company-provided health care. Easy call, as companies would be able to dismantle their HR departments that deal with health benefits and just throw it all on the government's shoulders. Which of course, wink wink nudge nudge, is what the government's goal is.
- Remember the days when you could just call a doctor and make an appointment and go in? Paraphrasing Ronald Reagan, the nine-most feared words in the English language are "I'm from the government and I'm here to help." Stay healthy. Eat well and exercise, and hope your DNA is strong.
- What is the lesson learned from Jon and Kate Plus 8? Wait until after The Emmy's to file for divorce? They filed for divorce on Monday. The show presents a melancholy view of the future, while each of them says how they love their kids but basically not each other.
- The folks at Crooked Houses probably got a good deal with viewer eyeballs on Jon and Kate yesterday. But with the melancholy theme, you wonder if folks were patiently waiting for the interview room rather than the kids and the crooked houses.
- Maybe more interesting going forward, is how the family adapts to divorce. And how many young hotties Jon dates.
- Ed McMahon dies at 86.
Picture is of Maria Sharapova!
Monday, June 22, 2009
- The market is back to caring about the end of the world as we know it. Has the news flow changed? Not really. Yahoo Finance says today's selling is due to "a lack of upbeat headlines."
- When was the last time we had upbeat headlines? 2006?
- The government intervening in the markets and corporations can't be giving investors confidence, either. Seems like we've gone somewhat away from a free market economy to a central planning economy where the government intevenes on a whim. If a company isn't competitive, the government isn't going to mandate success. Won't happen.
- How do you feel about the "cash for clunkers" program? ...it didn't make any sense.Then it dawned on me: It didn't have to! It's a government program. As long as it's paved with good intentions, it doesn't matter if the road goes nowhere. I agree. It doesn't make sense. Stop already. And who pays for it? Oh, you do via your taxes.
- I don't want to be too gloomy. Overall, I think the economy is improving. There is a lot more right than there is wrong. Employment is a lagging indicator and as things improve, jobs will pick up. Heck, even tax revenues will go up next April. The headlines are reporting what's in the rear-view mirror. We're probably in the Summer swoon for stocks and due for a pullback. I think the Nasdaq 100 will lead the market once all is settled. No matter what the front page headlines are.
- Jon and Kat Gosselin getting divorced!
Picture is of Dollhouse costar Dichen Lachman!
Sunday, June 21, 2009
- Rain for the US open and a government study on why guys don't like to wear condoms. What do they have in common? Nothing whatsovever.
- Happy Fathers Day to the dads!
- Ricky Barnes. lol. And yesterday not too many recognizable names on the leaderboard.
- I'm not paying too much attention to Iran. I don't think the US should meddle.
- I'd expect continued softness and meandering in the market for now. Summer season.
Friday, June 19, 2009
- The market was up. Not seeing too much news flow. At least Yahoo Finance is honest: There is no particular news item to account for the downward move. Watching bubblevision and it's expiration day, it's iPhone day, it's.... Scrambling for info! Don't know.
- Fast Money halftime report talking about First Solar. LOL. Good luck! Solar is expensive. There's a push for new nuclear power. Natural gas is cheap right now. Obama seems to be losing steam on his initiatives. Etc. I'm not sure solar is a bit winner right now.
- Jobless rate in Western US tops 10%. YIKES! The region is home to California, where the jobless rate jumped to a record 11.5 percent last month, Nevada, where it's a record 11.3 percent, and other states that have been slammed when the housing boom went bust -- snatching jobs and wealth. But stores and restaurants seem crowded. Indian casinos seem crowded. Maybe the jump from 5% to 11% unemployment included people who didn't eat out, shop, or gamble. I don't know!
- Market meltdown or meltup? Point-counterpoint. Jane, you ignorant slut!
- Yes, I could watch the Cubs-Indians game on Chicago's WGN TV station. But then it's more fun (and cool) to watch the game on MLB.com for the iPhone!
- Picture is of Olivia Wilde, from Year One.
Thursday, June 18, 2009
- Thursday! The market may not not care, though. Mostly hemming and hawing so far today.
- You can read Timothy Geithner's comments here, but did you happen to watch him this morning on bubblevision? He seemed in a more upbeat mood, had some smiles here and there. Overall, you get the impression that he knows the economy is mending. Yeah, yeah - news headlines, foreclosures, unemployment blah blah blah. All lagging indicators. Things are improving, and guess who will look good next election cycle? The Democrats! Not that they did anything per se, but looks like they'll benefit from the upswing in the economic cycle. It is what it is.
- Oh, and health stocks may improve as it looks like the nationalized health care fiasco is dying or whittling down.
- On yesterday's Investor's Edge, Gary Kaltbaum mentioned that we're seeing more rotation than selling, which may be interpreted as bullish. Gary also said he's been underperforming the market since early May. You can catch his archive from yesterday at garyk.com.
- Analysts wil be upgrading E-Trade? Although the stock sold off irrationally, the fact that ETFC's bond rallied to 98.5 reaffirms that ETFC is turning the corner. The risk of default is significantly decreasing and ETFC is on its way to increasing capital ratios, reducing balance sheet risk, and significantly reducing its debt burden. (Disclosure: Long ETFC)
- Gary B Smith says on Twitter that the market could be in for a small bounce.
- A Florida city imposing dress code that includes underwear and deodorant. The city council in Brooksville north of Tampa recently approved a dress code that instructs employees to observe "strict personal hygiene." It also prohibits exposed underwear, clothing with foul language, "sexually provocative" clothes and piercings anywhere except the ears. Repeat offenders can be fired.
Wednesday, June 17, 2009
- Market meandering after two strong down days. IBD still has the market uptrend under pressure. Sometimes I wonder if by the time IBD makes a switch from uptrend to downtrend, if you've missed the bulk of the move. So what good is it!?
- Other technicals for SPY and QQQQ... RSI(2) is in how-low-can-you-go limbo mode. Very low. MACD crossed to the darkside a few days ago. For all the weeping and gnashing of teeth, the SPY is just below the 21dma. And the QQQQ is right about there, plus or minus a bit.
- New $AAPL iPhone operating system out today. That'd be "3.0," baby. I'm always a bit leary being the first kid on the block to upgrade. I prefer someone else to do the beta testing, no? LOL
- Fantasy basebally waiver-wire pick-ups today? The Twins Francisco Liriano pitching at home against the Pirates, and Yankees (and new father) Chien-Ming Wang pitching at home against the Nationals. Why not?
- Gasoline prices up 50 days in a row! Wow! Fantastic!
- Of course, the CPI rose less than expected in May. Consumer prices rose less than expected in May and posted the steepest annual drop in 59 years, according to government data released Wednesday, fresh evidence that the recession is keeping inflation in check. Well, if you're spending more at the pump, you're spending less elsewhere.
- 8-year old boy saves sister and drunk adults from fire. Police in Poland say an 8-year-old boy saved his sister and three drunk adults from a fire by calling police and fighting the flames before help arrived. The fire started outside the door of the boy's apartment in the western town of Miedzyrzecz late Monday.
Picture is of Taylor Swift, who won the CMT Video of the Year and Female Video of the Year at Tuesday's CMT Music Awards.
Tuesday, June 16, 2009
- IBD changed their market stance to an uptrend under pressure. And you get the sense that after the amazing market run that we have had, we are settling into the summer doldrums. The headlines haven't changed much, but the market mood seems to have.
- I haven't done much and remain long. If we do get a confirmation day that shows the uptrend is over, I may become less aggressive.
- Is the NBA season over? No way? NBA DRAFT coming up. Then, it is over.
- Are you watching Kendra? LOL.
- Politics? Eh.
Monday, June 15, 2009
- Following the Lakers championship, traders are rioting on Wall Street. Stocks are being burned, tipped over, and there is mayhem on the floor.
- Will watch for a reversal, to see if those looking for a dip buy this up.
- Not sure what is getting fingered for the blame. Government debt? Government takeover of health care? George W. Bush?
Sunday, June 14, 2009
- It's funny how just after a few days away, one feels disconnected from the news. An Iranian election? What?
- I did peak at stocks to see that they mostly drifted sideways to end with a slight gain for the week. As the world economies improve, energy prices continue to go up. Not a shocker. I think we'll be at $4-5 gasoline sooner rather than later.
- I watched the Lakers-Magic game Thursday night. I was at a party watching the game with Lakers fans. I'm a Lakers fan here in NorCal, so I rarely have anyone cheering with me. That was nice to see folks get excited by a Lakers win. And what a game! It seemed very unprobable. This series could easily be 3-1 in either direction.
- No opinion on the Iranian election, and I don't care if it was stolen or if George Bush/Karl Rove were behind the election theft. But I think if Iran is fighting internally, it sure beats them focusing their hatred externally.
- Obama's Health Care Tour is in the headlines. Lots of complaining about corporation profits in health care. But what are corporations? People! And where do the profits go? To people! Employees and investors.
- Will investors invest in healthcare if there are limited profits? No, investors will invest elsewhere. So if investment into health care declines, where does the research into new cures, medicines, equipment and facilities come from? Where will the money come from to employ people? These are some of the questions that nobody seems to be asking.
- It's Sunday. I'm back in Sac. SoCal was fun. Picked up some of my Dad's things from the step-mom. Went to Disneyland. Forgot to adjust my fantasy baseball line-up, and that worked out for the best as a couple of my pitchers were rocked, and I had them on the bench. Hallelujah.
- So I've been having problems with the Disqus comment system. Maybe adjusting the blogger comment tab has helped. We shall see.
- Enjoy the day! Go Lakers!
Friday, June 12, 2009
No recession at Disneyland. And look at the prices!
(Reposted. Having issues with Disqus comments. Changed Blogger setting to "New posts have comments, lets see if that helps).
Tuesday, June 09, 2009
- The market finished basically flat. Felt like a lazy Summer day. I have a little $AAPL fatigue after yesterdays new iPhone 3GS announcement. I'm not going to pay the premium to upgrade early.
- The Supremes decided that the Chrysler-Fiat deal could go through. Just think if it didn't. That might have been the end of Chrysler.
- Actors gett two year deal. So I think this means TV shows are safe. Phew.
- Jon and Kate is getting hard to watch. But I do watch. LOL The whole thing is a train wreck and we get to watch it. Not just on Monday nights, but all week long on the entertainment shows.
- I do like foreign emerging markets. Not Russia, though. But one thing that concerns me is currency exchange rates. The dollar is weak and maybe it seems ridiculous to think it will ever be strong again. But what if?
Monday, June 08, 2009
- There was nothing in the $AAPL keynote today that would make me want to rush out and immediately upgrade my current 3G iPhone to the new 3GS iPhone. Yes, it's faster and has a better camera. You can take 30fps movies. Some voice features. Sales start June 19th.
- Pricing for new customers is $199 for the 16G model and $299 for 32G. So if you are in the middle of a contract, you have to wait. At least until initial sales slow down, LOL.
- Better for Apple and ATT is the $99 price for the existing (er, "old") 3G iPhone. That'll bring new customers in.
- The upgrades to the operating system are very nice for existing iPhones.
- Market seemed to turn around in the last hour and close basically flat.
- Crunchberries aren't a real fruit.
- Will natural gas be the next rally? Natural gas has been very volatile. I can see energy demand going up as the economy improves. Oil has already rallied considerably and is around $68. But natural gas has been lagging due to lots of supply.
- Watching for $AAPL release on new iPhone or whatever else they have up their sleeve. Whatever the new one is, I'll want an upgrade from my current iPhone.
- Market pulling back. A hit to commodities and large cap tech stocks getting the blame, or so that's what I'm reading on my Yahoo page.
- The coffee place out of mocha, so I got a white mocha. Not the same. Bleh.
- Lakers win was big yesterday. Now the Magic have to sweep at home. I don't know if they can do that. I doubt it. If the Lakers take one in Orlando, LA can win in 6 or 7 in LA. And if the Lakers win game 3, the Magic would save plane fair because there probably wouldn't be another game in LA.
- Aren't I sounding like a smug LA fan? Yeesh. Sorry.
- Yes, I did watch Kendra last night. I thought it was funny. More of the same you'd expect from her role in Playboy's Girls Next Door.
Picture note: That's Kristin Kreuk. I didn't see Street Fighter: The Legend of Chun-Li. Did it even hit the theaters or go straight to DVD? Reviews were bad. Not only is this a strong early contender for worst film of the year, it could well be a candidate for the worst film ever made. I'll probably NFLX it. LOL.
Sunday, June 07, 2009
- Overall market charts look good and poised for another leg higher. The market seems to be thumbing its nose at the Sell in May and Go Away folks. So far.
- The calendar strength period for the market is over, as 401(k) adds are in for the month for those who methodically dollar-cost average into mutual funds. If one held the calendar up, one might think that a pullback in the week prior to options expiration is a possibility. But sometimes that works, sometimes it doesn't work. So far there hasn't been high-volume selling in the market. Why fight that trend?
- Lost baseball bets in Reno yesterday. Man, I have to quit those run line bets! I was on such a streak with taking the home team with the better pitcher on the run line (win by 2 or more). Now I'm on the wrong side of a streak! Just like the stock market. Once the system is known, it stops working!
- Driving up over the hill from Sac to Reno was interesting. Felt like winter. In the 30's in Truckee. Brrrr.
- Kendra Wilkinson from Playboy's Girls Next Door starts her own reality show tonight.
- Lakers favored by 7 today over the Magic. I think the Magic will tighten it up. But I couldn't put a bet on it. As a Lakers fan, I didn't want to take the Magic. But on the money line, for the Magic to win straight up today, the pay off was $29 for $10 bet. Tempting, as the Lakers have been up and down during the playoffs. I could see the Lakers being a little lax and the Magic hitting more shots today. I almost did it, but I decided I'm just going to be a fan today.
Thursday, June 04, 2009
- The early market frown has been turned upside down and we're in the green. Things seem a little choppy. Oil is back up around $68.
- Sony unveils a new motion controller for the PS3 for next spring. Hey, have to keep up with Nintendo's Wii Motion Plus and whatever the XBOX 360 is doing. I think Nintendo's controller is out soon.
- Did some more thining about the Kindle DX and decided it's not worth the cash. Too expensive for limited functionality. The prices of these things are going to drop like a stone over the next couple of years as new models enter the fold. In addition, we're going to see color and improved features in future generations. And lets see what Apple has to say on June 8th.
- Lakers-Magic! Kobe Bryant says the Lakers are very worried, as the Magic has won 3 of the last 4 against LA. I don't know how to forecast this, but I'm a Lakers fan so I'll say Lakers in 6. Maybe 7.
- David Carradine dead in Bangkok. A news report said he was found hanged in his hotel room and was believed to have committed suicide.
- Went to the dentist this morning to have a crown put on. Fun fun fun 'til your daddy takes your t-bird away. Closing in on the lunch hour, and I'm hoping the numbness wears off soon. Hungry! And eating with your mouth half-numb is horrrrrrible.
Wednesday, June 03, 2009
This is a test post for Disqus. I am entering this at blogger.com, and the Disqus comments won't show up. You'll see.
- I don't see anything here that would cause me to sell stocks and head for the hills. Today was one of those days where it could've been worse. A big rally to close the day trimmed losses. Volume was light.
- What do you think about REITs here? I know we're all afraid of real estate, but check out some of the charts. I don't own any here, FWIW. But the charts do look interesting and the dividends are fat.
- So I'm reading the 5 Steps to Becoming a Millionaire, and thinking that it's so obvious it hurts. Try to convince someone of these 5 things and they'll think your cruel and heartless. As if it's easy for you to do, but not them. Really. Try it.
- We are a product of our choices. (Yes, another cruel and heartless comment).
- Ben Bernanke (no, that's not him in the picture) says deficits matter. I hope you weren't drinking chocolate milk as you read that. The government is doing nothing but binge spending, and the Fed is buying Treasuries near the height of a bond bubble. I don't know about these guys. The link is to EconomistMom who actually links somewhere else for the content, but we'll refer it to her as her RSS feed was at the top of my reader.
- Reuters Exposes Gore's Global Warming Profit Motive. Shocker.
- Rick Santelli says Tim Geithner is lying about monetizing the debt. Probably. That's what has to happen, right? No way we're ever going to pay that back without inflating the currency.
- About 5 minutes before a major meeting this morning, I have to go to the bathroom. I play a major role in the meeting, but my body is not on office time. So I get to the meeting a few minutes late and catch major flack, and gave an excuse that I was fighting a paper jam in the printer. But I was thinking, Depends should make "Depends Meeting Briefs" so you could take care of business during a meeting. Nothing should slow down the wheels of progress!
- With a couple of hours left, Yahoo Finance notes that the economic news is causing the market to go down while sparking interest in Treasuries. I can't think anyone is that interested in Treasuries with the rates low and the government spending trillions of dollars that we don't have. So I think we can call it a blip or profit taking before the trend continues. I don't see how folks would go long bonds and short gold here, you know?
- We'll wait for the final numbers and any last hour flip flops.
- But Ben Bernanke, and I preface this noting that he's rarely been right about anything, says that we're in store for low growth and low inflation. Ben will be appearing at your local comedy club soon, with two shows nightly. Two drink minimum, but I'd recommend at least three.
- If you're thinking about a Taco Bell Burrito Supreme for lunch, that'll cost you 410 calories and you'll have to dance for 70 minutes to burn it off! I say turn up the computer speakers in your office and dance at your desk after lunch. Invite your coworkers. Turn it into Cafe Disco.
- The market giving some back this morning. Getting the blame is the lower-than-expected ISM number. It game in at 44, rather than the expected 45. Good news? Hey, the private sector only lost 532K jobs in May! Wow, that's fantastic! And if we had only lost 531K jobs, maybe the market would be in the green...
- I've been thinking about getting the new Kindle DX. It's the larger-sized Kindle coming out June 10th. But then I read about the competition coming (like Google, like an Apple tablet, etc), and I think, why be too early in this market? Prices will come down with competition. Although, I did read that some newspapers will offer big discounts on the Kindle DX with a 12-month subscription to the newspaper. So... We'll see if I get the impulse to go with the Kindle DX. Heck, Amazon is the 800-lb. gorilla in the e-book market.
- Why not get both a Kindle DX and an Apple Tablet! LOL. We'll know more about Apple's plans next week, eh?
- Orange Punch's Mark Landsbaum says, "Just thinking out loud here, but what are the ramifications of the government owning big chunks of competing car companies, like the controlling interest the feds now have in General Motors and the lesser share they hold of Chrysler stock? How’s that work?" Clever column!
Tuesday, June 02, 2009
- GM to give Hummer to Chinese buyer. Yes, I word-smithed the article title a bit. Probably not the first to do that today. Anyway, General Motors Corp. has struck a deal to sell its Hummer truck unit to a Chinese industrial business, the two companies confirmed Tuesday. No word yet if the transaction happened via Craigslist or how many "roses" it cost the Chinese buyer.
- Probably what we wanted to see market wise. A little sideways nothing after yesterday's move, setting up another move higher. Maybe! I remain 100% in.
- So I have my cat put to sleep yesterday, and I can't tell you how many impulses I had yesterday to get up and check in on her. When I turned off the lights, I still watched where I stepped.
- My cat was an indoor cat. But I went out in the yard last night, and the neighbor's cat hopped over the fence and came over to me and rolled over. Strangest thing. I don't know how he knew, but he did. And I appreciated the comfort, Maestro.
- California governor Arnold Schwarzenegger says that "Our wallet is empty" and proposes more cuts. You know, he's right. It took him a long time to deliver on the 2003 "blow up the boxes" pledge, but here it is. It will hurt many who rely on government benefits, but maybe in the long run it's in their best interest. We shall see. Many negotiations to go on the budget.
- You know, if the market continues to go up, a state like CA that depends on taxing the rich will have a better April 15th next year.
- The Tonys add 80's band Poison to the show. Unskinny bop.
- Speaking of, Bret Michaels is at a local Indian casino in a couple of weeks.
- Treasury Secretary Geithner goes to China to beg them to buy US bonds. We need their money. Perhaps he should've given the same deal to the Chinese that GM did in that first bullet item up top there.
Monday, June 01, 2009
- Market break out today. Nice way to start a month. Market picks up where the last three months have left off.
- My market indicators are neither here nor there, but are starting to show some negative divergences. Volume was also a little light. But price is the best indicator of all and prices were up! As I said back when I had a sell signal (who can remember when the heck that was), I was going to stay long until the market confirmed the signal. It was close once. I've remained long, rotating around here and there, and haven't seen any reason to sell.
- The contrarians are out talking about excessive bullishness, but I'm not sure we're really there. And if we were, who can say whether or not the trend will continue? After all, the crowd does get the majority of the trend right, and tends to miss the inflection points. Nobody was bullish in early March. They missed that. They just got excited about things later. This can run awhile.
- Or it can sell off with the Summer. We are still in the monthly strength period where money flows into 401(k) funds.
- Sad news today is that I had to have my cat put to sleep. She was 17 and went downhill quickly the last few weeks. Just a little over a month since I had the dog put to sleep. Now I am pet-less. So I've spent the evening going through old photos. I was pretty teary earlier today, and I swear I keep looking for her to turn the corner, but it was something I had to do. I couldn't stand to see her in pain.
- Okay, pictures to resume soon.