Unless some major news item occurs that indicates a change, summer doldrums are on us and the economy is on cruise control.
I just heard the subprime mortgage mess could cost $52 Billion. Sheesh, that's just like one big bankrupcty spread over the whole US. For a multi-trillion dollar economy, $52 billion is just a mosquito bite. These perma-bears sure are over-screeching that one.
Most CDO and MBS holders hold to maturity. All this screeching about mark-to-market losses means little. So what matters is real losses, not trading losses.
PPI and CPI numbers today and tomorrow are important - particularly the CPI. A stable or downtick in year-over-year core CPI would be good.
Some consolidation here would be fine for the S&P and Nazz. I think we grind up like mid-March to late May, or all last fall & winter until Feb 2007. The bears aren't likely to give up and their shorts will be bought by real dip buyers. When the bears cover, we grind up as few sellers are higher except the bears. And the cycle repeats as before.
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.
25 comments:
JNJ beats, MER beats. MCD beat y'day. Du'h. What is weak except homies?
Shesh. What is this infatuation with options? It's like the infatuation with shorting (except you virtual traders, I know). Seems like frantic beefer efforts to prove their worth.
core PPI year over year 1.8%. yawn. That's fine.
Earnings this morning seem fine. JEF with a beat. That was on watch for an 'earnings gamble' yesterday....but I chickened out. Oh well.
Good to see the US government lose against 13 KPMG employees in the tax shelter case. Case thrown out by the federal judge because of prosecutor tactics. The US attorney was using disgusting and disgraceful tactics against the defendants and violated their rights. I don't care if they were guilty. A victory for the Jefferson-ites.
KLAC gonna do it today?
agreed re KPMG, Bud. Gov't case was crap & tactics worse.
TSO working on fifth down day....good enough to take some profit or tighten those stops....WNR pin at 60 looking good, will take some sugar there.
WNR tremendous. Don't ever stop drinkin frsoty.
Bub, what is on the earnings gamble list today? Bunkeman, you see any of those "Du'h" plays?
Roflmao frosty. Do you fade all my picks? I'll post an earnings gamble or 2 later in the day.
Nothing here, Frosty. My mind is a blank - I'm concentrating on my explosive adventure this weekend hehehe.
Uh Spin...I need an exact time market will drop today...much tia
MIPS Bud must be faiding me at $10...another one of those high short ratio plays, with breakout potential. AYST one I posted last week, highly shorted, gapped over that 7.50 today...need to see some above avg V to maintain a full position.
INTC no edge here at all, but I hate INTC....I was thrilled when they killled those mid Q updates...news from INTC always seemed to change the direction of the market.
mern still must be employed at the salt mines....i wonder if he wears a tie everyday...
Bunkerman....where are our dow 14000 caps...this blog is a rip off...lol
I will call mern tonite and find out what he chats about at the water cooler.
KLAC a monster
uh, 1,000 Dow points ain't what they used to be ;-)
Maybe Dow 15,000 means something. Maybe we should have a guessing contest for that date?
I'd have to figure out a prize hehe.
I like the chips alot now. B'man what semi's you long in alpha fund? Or what you lookin at?
No earnings gamble tonite for me tonite frosty. But i'm still lookin. Possibly INTC long.
the only tech I own are GOOG, AAPL and ORCL - lots of each. I'm just full up at +150% long, not looking at any stocks. My ST trades are just futures once in awhile.
I don't really like semis for LT holds - too much competition. They're just trades, maybe good ones.
Bub that bald dude (mern's fromer luver) on fast money and cramer says buy INTC ahead of earnings...hope that helps.
Gotta get a haircut before I look like a hippie.
Peace on Earth.
:-)
Post a Comment