While I was digging up more silver & taking it to the bank, the bears were skewered by a strong rally. Again, I think real buyers came in to buy the dip and the shorts found themselves having to cover at higher prices. I think real bond buyers bought that dip, too.
Trying to short in a bull market is very dangerous. I think one can make a LOT more money trying bullish trades, like Frosty did in the comments of yesterday. The profits are a lot better as are the odds.
Today's PPI data and tomorrow's more important CPI data and quad-witching futures+options expiration day will be big. The resulting action will likely govern the market until the Fed meeting near the end of June. Barring bad news on the core CPI, I expect a rally into the June Fed meeting.
Corn still growing :-))
Selling wheat long was a mistake :-(
PS: What is this golf crap on Bubblevision? I want news on stocks! Switching to Bloomberg.
PPS: Year-over-year core PPI was 1.6% - a very manageble number. A good data point.
P^3S: Such pain! I just wrote out my Q2 estimated taxes :-((( Too bad the $$$ is mostly wasted & not used for useful things like aircraft carriers or new F-22 fighters or ammo for troops.
P^4S: By the way, the wheat crop problems are helping corn, too. Earlier in the season there was widespread talk that farmers would feed wheat to livestock instead of "pricey" corn. With wheat at $6, that negative for corn demand has vaporized.
P^5S: I made another mistake not re-buying wheat when its strength persisted after Monday. I guess I'm tired and looking for time off so wasn't too interested in looking for new commodity plays. I still have corn, natural gas & cocoa. That's enough at my current brain-wave level ;-)
P^6S: Arghhh! More seller's remorse on wheat :-(( I should take it off my screen.
About Me
- Bunkerman
- I have a pioneer mentality. My wife & I live in the woods - neighbors aren't visible except slightly in winter. Our "bunker" - hehe, really a fine home & barn - has plenty of security. We have four dogs: Krypto (age 9, Kelpie), Ava (age 13, Rat Terrier), Sky (Kelpie, age 5) and Lucky Star (age 1, kelpie). I don't take crap from anyone anymore, having enough resources & gear stocked up to survive in any circumstance. I have three degrees from Harvard including a Ph. D. in a physical science, and an MS in Management from MIT. I worked as an investment banker for about 25 years, mainly in secured finance, at three major Wall Street firms and for the last 17 years with my partners at our own firm. I'm semi-retired now, managing some private corporations and business interests and doing my own trading & investing. This is not to boast, but to give you an idea I know a little about some subjects from experience. The photo is my 1943 M16 half-track which I am restoring. These armored vehicles were ubiquitous in the US Army in World War II and Korea. It's driveable.
17 comments:
oh nellie was "little bush" funny. its no south park, and probably will only be funny for a bit, but they just have sooooo much material to work with. the funniest character by a country mile is little chenney. little condi and little rummy r pretty funny.
highly suggest recording this episode, it will be on all weekend.
US open today, tiger just teed off. word is a +5 will win this tourney. thats insane. coverage starts on espn at 10am
I think people would prefer to see the top pros at -10 or so. Making the course stupidly tough is demeaning.
I think it's more exciting to see a top pro hit an eagle on a normal hole than hit par on a tough one.
PPI .9 take out the inflation and barely any around.
yawn
i think many agree with u on the golf thing. ive always like the us open the most. the courses seem tough, scores like -3 to -4 can win it.
if someone breaks a club, that really gets me interested.
I missed little bush. Will watch it.
omg bud u will LYAO!!!!!!!!!!
little chenney really steals the show.
having a 10 yr old chenney having sex with barbara bush was a bit much
LOL LOL LOL
another smart tactical move by bush in iraq. i thought the sunni's were the main threat to us in iraq? so why r we arming them to fight al queda? your enenmy of your enemy logic.
those rockets r coming back at our boys faces.
can watch lil bush on www.comedycentral.com
frist watch john stewarts monologue from last nite. its saddly hilarious
The year-over-year change in the producer price index is now 4.1%, up from 3.2% in April, the highest level since June 2006
Robert Marcin
Inflation Data and "Core" Producers and Consumers
6/14/2007 9:46 AM EDT
I agree with Tony that the Fed will starting paying more attention to the headline inflation numbers. Fed gov Fisher said that himself recently. How many "core" consumers or producers(those w/o food or energy usage) do you know? This represents a modest negative for the Fed cut camp.
agree
ive been looking at this for sometime. took a mark here in my IRA. plan to hold for a yr or longer.
UTEK
www.insidercow.com
look at the insider buying
They aren't going to pay attention to headline inflation. That's eisegesis. The Fed is on the record to only caring about core inflation as that is what is passed around to everything. Bernanke testified to that under oath. Sheesh.
Wowza, Ms. Market is expecting good news tomorrow, I guess.
usually these pre CPI runs portend a doveish #. its like someone gets the # before the rest of us. but that cud never happen, cud it? ;-)
and gas is down 20 cents a gallon this month. maybe the fed cuts by 50 bps at the next meeting, while doubling the size of the printing press.
yeah baby, yeah! shall we shag now or shag later
XLE over 70. That ETF just completed a four week consolidation base.
Zzzzzzzzzzzzzzzzzzzz
Another bad day at Bear Junction.
Peace.
Post a Comment