It is asteroid day! Huge asteroid headed for close encounter with Earth, "It is the first time since 1976 that an object of this size has passed this closely to the Earth." Want to see a picture of the large rock? NASA Captures New Images of Large Asteroid Passing Earth.
Speaking of close encounters, the White House says no evidence of aliens, but leaves the door open with, "noting that many scientists and mathematicians believe that, statistically speaking, odds are high that there is life somewhere among the "trillions and trillions of stars in the universe"".
I 100% agree with that statement and apparently NASA does as well. For some reason they like to take a lot of pictures of space dust doing miraculous things (seems like a good use of their time and taxpayer funds to me). See here and also Shanky's favorite UFO video of all time here (once again they have a great interest in capturing images of space dust moving in ways dust does not here on earth).
Showing posts with label bonds. Show all posts
Showing posts with label bonds. Show all posts
Tuesday, November 8, 2011
Tuesday, September 13, 2011
STB Morning Post 09/13/11
Not much to say other than China saved the day yesterday (again). It seems that you can always count on intervention of some sort to save the day (till you can't). Bottom line is they will continue to stick save till they can't. As noted on STB a few months back, it appears that the power brokers in governments around the world are tired of bailing out the banks.
The bankers have bled the system and their puppet politicians as much as possible (times two). The governmental representatives have gained nothing politically as their voter base has become increasingly dissatisfied with their performance. On the other hand, you would assume that the money flowing into their coffers from these special interests is coming in at an astounding rate. Quite the trade off, sacrifice your country and political career while you go for the big cash grab. How American!
I think they are thru throwing good money after bad. I think the politicians are actually beginning to see the light. After throwing a DISCLOSED $4 trillion at the problem (not the actual $30 trillion it took to bail out the world) and getting nothing out of it, maybe, just maybe they are growing a set large enough to take on the banks and the default issues that are coming.
I hope you all like the new look old blog. STB.com is still down and I am actually considering staying here at this point till the new blog is up and running. Comments and suggestions are always welcome. What you like and don't like I need to know so it can be incorporated into the new blog. Don't tell me after the fact, you need to tell me now.
Minis this morning have made quite the recovery (not sure who came in with the big stick (or wantons filled with dollars as sellputs put it yesterday). All it takes is a rumor to move the DOW 100 points either way in minutes. Thus, this is a dangerous playground to bring your ball to. Remember to have a trading plan for each trade and to always use stops.
Minis - yellow channel support being backtested. the blue triangle backtest is just above. 1161 (price at now) is first resistance and then 1178. Those can get run thru with the right "solution" today. Inversely 1123 is the magic number for severe downside action continuation. Bottom line is the markets are consolidating at these levels and remain range bound. Note - I adjusted the channel a bit this morning to what should be a more accurate representation of the channel capturing the last low at 1138 - where it was below the support diagonal yesterday. This is an allowable thing to do and is sometimes necessary when working with charts. STB always reviews his trendline positions and if adjustments are necessary, then I make them (and you should as well).
The bankers have bled the system and their puppet politicians as much as possible (times two). The governmental representatives have gained nothing politically as their voter base has become increasingly dissatisfied with their performance. On the other hand, you would assume that the money flowing into their coffers from these special interests is coming in at an astounding rate. Quite the trade off, sacrifice your country and political career while you go for the big cash grab. How American!
I think they are thru throwing good money after bad. I think the politicians are actually beginning to see the light. After throwing a DISCLOSED $4 trillion at the problem (not the actual $30 trillion it took to bail out the world) and getting nothing out of it, maybe, just maybe they are growing a set large enough to take on the banks and the default issues that are coming.
I hope you all like the new look old blog. STB.com is still down and I am actually considering staying here at this point till the new blog is up and running. Comments and suggestions are always welcome. What you like and don't like I need to know so it can be incorporated into the new blog. Don't tell me after the fact, you need to tell me now.
Minis this morning have made quite the recovery (not sure who came in with the big stick (or wantons filled with dollars as sellputs put it yesterday). All it takes is a rumor to move the DOW 100 points either way in minutes. Thus, this is a dangerous playground to bring your ball to. Remember to have a trading plan for each trade and to always use stops.
Minis - yellow channel support being backtested. the blue triangle backtest is just above. 1161 (price at now) is first resistance and then 1178. Those can get run thru with the right "solution" today. Inversely 1123 is the magic number for severe downside action continuation. Bottom line is the markets are consolidating at these levels and remain range bound. Note - I adjusted the channel a bit this morning to what should be a more accurate representation of the channel capturing the last low at 1138 - where it was below the support diagonal yesterday. This is an allowable thing to do and is sometimes necessary when working with charts. STB always reviews his trendline positions and if adjustments are necessary, then I make them (and you should as well).
Monday, December 7, 2009
Is There Any Good News?
Trick question, it depends on if you are a bull or a bear. If you want to hear something good go back to watching CNBS or turn on CNN where you'll get some sort of sanitized feed that will keep you in the dark forever. If you want to hear me gloat in the impending doom of our democracy or hear me bash on a politician du jour, please read on.
I was going to try to string these few Zerohedge posts into a clever scentance, but could not pull it off. You 'll get the gist of what I was going to try to get across as Most Recent Insider Selling to Buying Ratio: 82:1 as Consumer Credit Contracts For 9th Straight Month, Non-Revolving Credit Increases, but since Cash is King there is no need to worry about Fried Calamari? for dinner. Wait a minute - I did make a sentence out of it. Caution, that may become some sort of new game for Shanky to play with himself. I think Marla may appreciate that (the sentence - not the playing thingy).
Mish has a good one from the most corrupt city in the USA. We all know Chcago is a really screwed up place that has produced a litany of characters that leave much to be desired (most recently our president). So what do they do to balance their budget? Chicago Cannibalization: Mayor Daley's Budget Eats 75% of a 75 Year rainy Day fund in One Year You just have to read this one to believe it. Creative financing at it's finest. And some wonder why I am such a perma bear? Cities, states, federal governments are using every available crutch right now without regard to the future consequences to solve a variety of funding issues. You talk about a recipe for disaster. The dig drop, deflation, depression is coming folks. It is just a matter of time.
Since we're dissing local governments (like shooting fish in a barrel these days) why don't we try But Wait, How About The States? from Dennninger. "Things are probably worse than most people believe," state Sen. Mike Doherty told me the other day. "It’s questionable if we’ll even be able to meet payroll in a few weeks." Oh kay, so payroll may be a problem as well as some possible bond default issues (nothing to worry about- really ;-)). Don't say they did not tell you so and don't say I did not tell you so. It is only a matter of time and the ammunition used in reflation project 2009 is empty.
naked capitalism has a must read in Newsweek: Goldman Supplied 9 Pages of Proposed Changes to Derivatives Legislation. This one is a classic, "Newsweek’s “Why is Barney Frank So Effing Mad?” is supposedly about the Congressman from Fidelity but is really about how the banksters are succeeding in neutering financial reform. One Congressional staffer has told me that everyone involved recognizes the measures don’t go far enough, but feel they can’t do much more (Congress can step out only so far ahead of the Executive, and this one clearly is in no mood to take a more aggressive stand)." You'll laugh and cry your way thru a great article that is filled with suspence (just how much of the recent legislation did GS actually write) and humor regarding the neuterization of everything in Washington. This one might actually make you scream.
The Pragmatic capitalist brings you 10 REASONS THE EQUITY RALLY IS OVER from Rosie. BUT, BUT, BUT - TPC has this to say, "In other words, we remain in a “beat and raise” world. That is unchanged for now and will ultimately be the reason why David’s 10 reasons are wrong and why the unwavering bear will be wrong again about this market top…." I'll have to go comment on this one later on TPC's site. They do great work and maybe I need some clarification to his statement. I can actually go for a little more manipulated upside, but his "improvement in corporate margins" reasoning has me a bit miffed.
So, where do you stand? Washington's Blog has 79% of Americans Want an Audit of the Fed, Only 21% are in Favor of Confirming Bernanke, and Only 20% Think Geithner is Doing a Good Job. "Trust will not be restored until Bernanke and Geithner are replaced with people whose loyalty is to the American public and small businesses, rather than the Wall Street giants, and whose track record demonstrates that they will put the American people and entire economy as a whole - rather than the big boys - first." I could not have said it better and the sooner we get these self serving bastards out of their posts the better off we will be. Oh, did you read where Kashkari is going to work? Now the Kashkari Puff Piece Makes Perfect Sense
The Big Picture has a nice post on Who Wins When the US Dollar Falls? that you should read.
That is enough for now. Yet another day without any good news (unless you want to count TPC's statement that I am ignoring). Market is very toppy now and teetering, but that is usually when the PPT/reinflation team is at their best. I am very suspicious of them letting the dollar breathe a little and then using it's powers to assist in halting any major down turns that may be imminent (note the market fell today 15min before the dollar reacted)
GL out there and happy holidays.
I was going to try to string these few Zerohedge posts into a clever scentance, but could not pull it off. You 'll get the gist of what I was going to try to get across as Most Recent Insider Selling to Buying Ratio: 82:1 as Consumer Credit Contracts For 9th Straight Month, Non-Revolving Credit Increases, but since Cash is King there is no need to worry about Fried Calamari? for dinner. Wait a minute - I did make a sentence out of it. Caution, that may become some sort of new game for Shanky to play with himself. I think Marla may appreciate that (the sentence - not the playing thingy).
Mish has a good one from the most corrupt city in the USA. We all know Chcago is a really screwed up place that has produced a litany of characters that leave much to be desired (most recently our president). So what do they do to balance their budget? Chicago Cannibalization: Mayor Daley's Budget Eats 75% of a 75 Year rainy Day fund in One Year You just have to read this one to believe it. Creative financing at it's finest. And some wonder why I am such a perma bear? Cities, states, federal governments are using every available crutch right now without regard to the future consequences to solve a variety of funding issues. You talk about a recipe for disaster. The dig drop, deflation, depression is coming folks. It is just a matter of time.
Since we're dissing local governments (like shooting fish in a barrel these days) why don't we try But Wait, How About The States? from Dennninger. "Things are probably worse than most people believe," state Sen. Mike Doherty told me the other day. "It’s questionable if we’ll even be able to meet payroll in a few weeks." Oh kay, so payroll may be a problem as well as some possible bond default issues (nothing to worry about- really ;-)). Don't say they did not tell you so and don't say I did not tell you so. It is only a matter of time and the ammunition used in reflation project 2009 is empty.
naked capitalism has a must read in Newsweek: Goldman Supplied 9 Pages of Proposed Changes to Derivatives Legislation. This one is a classic, "Newsweek’s “Why is Barney Frank So Effing Mad?” is supposedly about the Congressman from Fidelity but is really about how the banksters are succeeding in neutering financial reform. One Congressional staffer has told me that everyone involved recognizes the measures don’t go far enough, but feel they can’t do much more (Congress can step out only so far ahead of the Executive, and this one clearly is in no mood to take a more aggressive stand)." You'll laugh and cry your way thru a great article that is filled with suspence (just how much of the recent legislation did GS actually write) and humor regarding the neuterization of everything in Washington. This one might actually make you scream.
The Pragmatic capitalist brings you 10 REASONS THE EQUITY RALLY IS OVER from Rosie. BUT, BUT, BUT - TPC has this to say, "In other words, we remain in a “beat and raise” world. That is unchanged for now and will ultimately be the reason why David’s 10 reasons are wrong and why the unwavering bear will be wrong again about this market top…." I'll have to go comment on this one later on TPC's site. They do great work and maybe I need some clarification to his statement. I can actually go for a little more manipulated upside, but his "improvement in corporate margins" reasoning has me a bit miffed.
So, where do you stand? Washington's Blog has 79% of Americans Want an Audit of the Fed, Only 21% are in Favor of Confirming Bernanke, and Only 20% Think Geithner is Doing a Good Job. "Trust will not be restored until Bernanke and Geithner are replaced with people whose loyalty is to the American public and small businesses, rather than the Wall Street giants, and whose track record demonstrates that they will put the American people and entire economy as a whole - rather than the big boys - first." I could not have said it better and the sooner we get these self serving bastards out of their posts the better off we will be. Oh, did you read where Kashkari is going to work? Now the Kashkari Puff Piece Makes Perfect Sense
The Big Picture has a nice post on Who Wins When the US Dollar Falls? that you should read.
That is enough for now. Yet another day without any good news (unless you want to count TPC's statement that I am ignoring). Market is very toppy now and teetering, but that is usually when the PPT/reinflation team is at their best. I am very suspicious of them letting the dollar breathe a little and then using it's powers to assist in halting any major down turns that may be imminent (note the market fell today 15min before the dollar reacted)
GL out there and happy holidays.
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