Sunday, November 18, 2012

Back from Las Vegas Randomosity

  • $$ - Back from Las Vegas, where I compounded recent stock market losses with casino losses!
  • The official media reason du jour for the stock market weakness after the re-election of President Obama is the "fiscal cliff."
  • The official right-wing blog reason du jour for the sell off is four more years of Obamacare, regulations, and other Obamacrap.
  • The official left-wing blog reason du jour for the selling is George W. Bush.
  • So this week brings Thanksgiving, and the expectation is that history favors a move up in the market.
  • Technically, it seems as if the market is in some risk of breaking support. Barron's tech column makes the point that we could revisit the Spring lows. Would that be a big shocker?
  • A funny thing happened while we have all been preoccupied with the fiscal cliff, Eurozone problems, and the Justin Bieber - Selena Gomez break up. Hamas and Israel are firing shots at each other, and Israel is massing troops at the border. Just saying.
  • Meanwhile, the whole Benghazi thing seems to be spinning out of control. The chairman of the House Intelligence Committee said Sunday that Obama administration political appointees removed references to al Qaeda-linked groups from intelligence agencies’ accounts of the Sept. 11 attack on the U.S. Consulate in Benghazi, Libya. Somebody is going to be in trouble.
  • Strikes at Walmart heading into Thanksgiving. Strikes and protests aimed at disrupting the retail giant Walmart during next week's Black Friday sales events began on Thursday with walk-outs at a number of stores and the promise of more actions in the lead-up to what is traditionally the busiest shopping day of the year.
  • More later. Too many overtime games on Red Zone.

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