The bears & shorts are. After the close, I picked up Wednesday's WSJ (paper edition) and saw the article quoting John Bollinger (page C1, lhs column) that the record levels of short interest aren't bullish. "The bearish bets piling up at the New York Stock Exchange and the Nasdsaq Stock Market may not be the bullish signs they once were."
Uh, paraphrasing, "It's different this time". I heard that last fall, too, when prior short interest records were set.
Looking at the NYSE chart the article has really surprised me how much short interest has ramped up from last fall's record - about 20% more shares sold short.
The article says it's just beefer pair trades & arbitrage, blah, blah, blah. Bollinger: "Hedge fund activity has destroyed the usefulness of the numbers."
Maybe. But maybe that's just saying, "It's different this time"
PS: Wheat made a big move up yesterday. The drought in Ukraine is getting really bad and the government banned wheat exports. Relief is needed soon or the losses will be catastrophic. The world wheat stockpiles needed to be rebuilt this year, but that drought and the US late freeze killed those prospects. Long December Chicago Wheat per prior post.
PPS: Q1 GDP was very weak at only 0.6%. BUT we already have Q1 earnings and they were fine. So if GDP can get back to moderate growth at 2.5-3%, earnings could be great. That's what I expect and 2007 & 2008 earnings should be very strong unless something bad happens. That's another data point for severe undervaluation in US big caps.
P^3S: GOOG chart looks pretty good on daily & weekly. That one seems undervalued by far. I'm long with average cost around 456 from prior posts. On a good break, I might buy more.
P^4S: The Chicago PMI number was strong. Good is good. The economy is doing fine.
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31 comments:
SPY chart looks real good. Cramer was very bullish on CLF last night...sayin $100 takeout in the cards.
lol, they can have my CLF for $100, as long as I get a LT gain.
DELL really sucks. They put all this crap on the PC and now seem to want to run an upgrade utility that keeps pestering me. I'll never buy another DELL computer. I'm fed up with this nuisance junk.
That is soooooooooo annoying. But don't all the big pc makers do the same? I think the only way to get around that is to have a pc custom made thru one of the lesser known retailers.
GDP soft. Recession looming in the US?
bud u kill me, u believe the BLS bs? how about we in a recession already and have been. and the BLS understates inflation by a factor of 3 to 4.
philosophically speaking im a bear. i dont have any shorts but everything i look suggests?
whats the song that song that Deliah song?
"LOOK OUT STAGGERLEE"
"the song that women sung was LOOK OUT STAGGERLEE"
"look out momma, look out momma"
"look out STAGGERLEE"
viscious 90 minute practice last nite. last nite we played 8 on 8. youngest was 10, oldest 65. the 10 yr old was almost as gud as me, and he was better than most of the guys out there. he just dribbles too much. he tried to nut meg, and he almost did it. i think i needed to hang up my boots if i ever get megged by a 10 yr old. lol
True, Bud. BUT I'm going to buy Macs from now on. If the Leopard OS has Windows capabilibty, then I don't see any need for a pure Windows PC & all that junk & annoyance.
No recession, but lots of underemployment. I see good people getting laid off at corporations and then being asked to be "independent" subcontractors. The corporations really suck. D's are going to kill the R's since the R's don't act like Teddy R & force the big rich & powerful to give the average guy a "square deal"
Problem will be that D's don't help the people, either - they just add bureaucrats.
Lots of social tension looming as this grows.
bud not to fret this is only the first peek at gdp. im sure the bls is already working overtime to revise these bad #'s away.
im wondering how much we wud have been in the red on GDP if not for the butt kicking the $ took.
the middle class is becoming a dinosaur. inflation is just too high for these people, and they r lazying americans.
middle class dirt nap playing out for sure
Geez, you guys always look at things from the dark side.
GDP should be back to trend line growth of 2.5-3% by fall, core PCE under 2% and S&P 500 heading towards 1700 ;-)
Rofllmao Bunkerman....even when I'm 400% long.......I'm bearish
Speaking of the 'rich and powerful'.....flying upto to new england to play golf with them the next 3 days. It sure is fun to have rich friends ( especially when one is poor like me).
Hmmm. I didn't think anyone "poor" played golf. It's a rich man's game, like tennis ;-)
tennis isnt that expensive. a decent racket is 100 bucks. balls 4 bucks a can, that lasts 1 full match. have a free court 50 ft from my house. just need someone decent to play with. when i use top or back spin she suggests im cheating :-)
A British performance artist has eaten part of a corgi -- the breed of dog Queen Elizabeth II favors as pets -- to protest the alleged mistreatment of animals by the royal family.
Mark McGowan dined on corgi meatballs Tuesday at a table set up on a London street in hopes of drawing attention to media reports that Prince Philip, the queen's husband, had beaten a fox to death during a hunt. The event was broadcast over a live radio program.
Yoko Ono, featured on the same radio program, also tasted a bit of the dog, McGowan said. Ono's spokesman did not immediately return calls or e-mails seeking comment
GROSS!
He should be barbequed. Scum. Killing a dog for that is despicable.
On Sunday, I'll be with my working class friends at a rifle match. I expect to crush them again. :-)
actually the dog died of natural causes, but thats nasty. i love corgis.
2 wrongs, make a right?
Rifle match? What the heck is that?
PS....Hmmmmm ....you'll be away sunday......maybe I'll do a reconnaissance mission on the 'bunker' while you're away.
We shoot at targets for accuracy at one of my "sportsman's clubs". Bunkerman is a very good shot ;-)
Hmm. I guess I should tell Mrs. B not to feed the dogs in the AM.
bud better have his national id card up that way or next thing we will see is the headline "bin laden caught playing golf in new england"
LOL
National ID card...ugh....another way for the US government to spy on its citizens. Big brother!!
PS...Not to mention another fat govt bureacracy
Exactly, Bud. The proto-fascists will use a national ID card to extend their tentacles over everything.
Get ready to bend over to get your microchip implanted. Grrr.
You know it's a bad idea when both he R's and D's agree on it. It's simply the bourgeosie further controlling the proletariat.
Check the GOOG chart. Weekly shows a big C&H bullish setup.
i doubt that the dems or repubs will allow anyone that is as brown as bud to stay in the country.
lalallalalalalalalalalalalalalallalalalalalalaalalaalalallalalalalalaalalallalallal.
i can see bud giving himself up at the next GOP convetion. 20 lbs of c4 strapped to his stomach, while he takes out cheney, bush, and the rest of em.
rofl
oops my warden is more brown than bud. well at least she wudnt sign the prenup
;-)
shes clearly al queda. she is brown, last i looked, thats all it took for bush to wire tap us.
long moving to jamaica or costa rica
when was the last time our president got drunk and coked up on the same nite?
ill bet 10 bucks, within the last month.
and that probably his last chat with God.
what a facist
He's in the, "legacy building" mode. He wants to be loved by the right people in DC now - the environmental totalitarians & rich & powerful who want cheap labor.
Zzzzzzzzzzzzzzzzzz
Let's close this now so the beefer bears can hit the bar early.
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