Monday, May 13, 2013

Monday Randomosity and Kim Kardashian in Blue

  • imageWe all know a stock market correction is coming. We are sure of it.  But… From where?
  • I’m still in cash.  Being patient.  My thought is that after a big run like this, the eventual pullback is a little more severe than a 3% dip to the 50dma.  Just thinking out loud.
  • But lets not let that dampen economic enthusiasm.  Bernard Baumohl, the chief economist of The Economic Outlook Group, believes the U.S. “may be on the precipice of faster growth.” And consumers are the main reason…  Party on, Garth!
  • On the other hand, Lack of growth in the Dow reaches dire stage.  …the companies that comprise the index are solid companies that are likely to withstand major economic catastrophe, but at a certain point, valuation must come into play. In this specific instance, it is a concern.
  • So, I do like to wax political from time to time, and there are lots of things in the news these days.  IRS targeting conservative organizations?  Really?  Add some Benghazi to the mix.  I don’t think this stuff is going away.
  • By the way.  Retail sales up in April.  (Yes, a lot of that WAS me).  Retail sales unexpectedly rose in April, reflecting broad-based gains that may ease concerns consumers are holding back.  This is good news.  I think that consumer activity lags the economic recovery a bit.  It is nice to see folks out spending and feeling better about their situations.
  • McDonald’s is eliminating the Angus Burger, but adding THREE NEW QUARTER POUNDERSThe three new flavors, which were tested for nine months in Sacramento, Calif., and Toledo, Ohio, are Deluxe, Habanero Ranch, and Bacon and Cheese. The new varieties will carry a different bun containing more whole grains, while the original Quarter Pounder will keep its traditional bun.  How’d I miss this happening under my own nose here in Sac?
  • France mulls smartphone tax to fund culture.  Well, that doesn’t seem so smart to me.  The notorious French taxman could soon have something else to train his sights on after a government report on Monday suggested taxing smartphone and tablet producers like Apple and Amazon, in order to bolster funding for cultural products.
  • Dodgers losing 6-2 at home to the Washington Nationals as I type.  Yikes.  Maybe Kim Kardashian should take the mound…

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