Heap big 5th inning put Red Sox in the dirt as the Tribe scalped them again, 7-3. Gosh, can the Tribe go to the fall classic? Can the ghosts of 1954 be vanquished? It's been many moons since the Tribe won it all.
Go Tribe !!!
Frosty suggests BWLD as a Tribe World Series play - I bought some and might buy more today. See yesterday's comments for details. I've seen their ads on TV here in Massachusetts, too.
US electricity demand is rising faster than supplies. [WSJ today] I think that the current infatuation with "renewal" sources will lead to brownouts and worse over time. Coal and nuclear are the only logical sources for base power. The renewables are tax subsidized delusions for the environmentalist theology. They seek a miracle. It won't come.
I'm long BTU [coal] and CCJ [uranium].
Tech earnings were good last night. Futures are up this morning. CPI numbers come out at 8:30 AM EDT. Those can be important.
India put on some kind of restrictions on derivatives that were being used by beefers to sidestep investment rules. I don't see any big deal there. I only own the Indian banks [HDB, IBN] now and a bit of stock I'm waiting for long term gains treatment. Any more extensive capital requirements would be a big negative.
It's quite remarkable how much bearishness I continue to hear. I think bearishness became a required attitude for market seers after the Nazz crash so they could keep their jobs. And they haven't been able to adapt to new conditions. But I guess they are getting paid by clients for those views, no matter how wrong they have been for years.
Perhaps it's a matter of them performing self-delusional eisegesis of markets and the economy and not true exegesis.
It's a bull market. Buy dips on good stocks & strong groups. Hold until something changes.
PS: JPM beats earnings and increase earnings yoy. Uh, bears ... I guess the delusionalists will say they didn't mark down enough. But the WSJ articles says the accountants are very tough. And I believe that since they don't want to be sued. They have a cartel now and can be tough.
PPS: Boone says $100 oil within 1 year. The dumbness of the press stuns me. Boone says 85 million barrels per day is the limit of production. Boone says demand is 88 million barrels per day. And they ask him, "won't prices come down once demand is cut?" How stupid! Demand HAS TO COME DOWN TO 85 MILLION BARRELS PER DAY. THAT'S ALL THERE IS! AND PRICES HAVE TO STAY UP SO DEMAND IS RATIONED! Sheesh, doesn't anyone learn the most basic principle of microeconomics anymore? Maybe $100 oil cuts demand enough. But the price will have to continue rising slowly once the equilibrium is hit as people find more productive uses of oil. Marginal profit has to hit marginal cost and stay there.
P^3S: Year over year core CPI was 2.1% flat with last month. That's a good number.
P^4S: I don't see how Chuck Prince of C can survive now that JPM posted good numbers.