Wednesday, October 17, 2007

Tribe Wins ! Yayyyyyyyyy !

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.

29 comments:

Frosty said...

Bunkerman....tribe on the war path...congrats...with your twin aces coming to the mound in games 5 and 6 a trip to the fall classic appears to be a lock.

Bunkerman said...

They're are playing well. But it's not over till it's over.

Bunkerman said...

I sure screwed up my averaging into C. Very poor job - punished for impatience.

Bunkerman said...

Beefer ping pong in the oils after the meaningless EIA inventory numbers. Their antics playing the ETFs and stocks are just ridiculous.

Frosty said...

Bunkerman....do you own GD...I'm buying today...looks good to trade above par.

Frosty said...

Bunkerman...I'm defending BWLD at 39.40...have your back :)

Bunkerman said...

Have no GD, but it does look good. They seem a bit stingy on the dividend for me.

Bunkerman said...

added to BWLD, too.

Spin-em said...

thought for sure Bunk would buy INTC with those #'s and that c @ h
Frosty..I owe you a single malt..lol

Frosty's boy guy likes it to 29.50

Frosty said...

yes...my girlfriend adami has the luv for INTC...but it needs to trade over 26.50....sitting at 26.51 right now.

Bunkerman said...

I don't like INTC on principle. Andy Bryant is a jerk and the company is a chippy. I don't like chp companies long term - too much competition. It's not related to the Internet either. So I can't see it as a long term hold.

Spin-em said...

yes 5 alarm wingers have no competition.....long term?..the world series is in a week!!..(just bustin)

Bunkerman said...

lolol BWLD is a trade for me. My first "trade" in many moons :-)))

mfl59 said...

wow these beefer raids are becoming pretty standard....any concern Bunkerman?

Bunkerman said...

not until I hear something changes. The inflation number was good this morning. I wonder if options expo has an influence.

It's October.

Frosty said...

MLF59...good to see your at least defending gold...KRY baby begging you to take the virtual tour once again.

Frosty said...

Bunkerman...taking BAC right here perhaps it is virtual, that is up to the real buyers :)

Bunkerman said...

I have to go test drive a new Caddy - doing my bit to support the US working man.

Bunkerman said...

this dip smells like C rumors of problems being spread.

mfl59 said...

Fact: no common man on earth drives a caddy

Spin-em said...

buy an older one and ya get free "wings".....boooyaaahhhh..lol

Im here all week folks....

Frosty said...

LNN 45.85...needs to water those crops...send those big goverment hand outs...the common may type stock.

Frosty said...

BAC...avg in indeed...looking to fill the position up at 45 :)

Frosty said...

Bunkerman....the real question is...when you turn your tank on, does it return the favor?

Bunkerman said...

false mfl59. When I first started work, I drove a 14 year old 69 Caddy.

Ok, I am a friend of the common man and am mentally a common man. I admit I like "some" fine things - Caddy's, 30 year old single malts, etc.

Just signed the contract for the ordered caddy DTS (the big one)

Bunkerman said...

ooops math error - 12 year old 69 caddy (1981)

Bunkerman said...

Besides, Mrs. B objected to a pickup truck in the driveway, so I had to keep my H1 Hummer.

I like to go to the sub shop in a bit of comfort ;-))

Bunkerman said...

QID lovers getting impaled

now Ebay good eps.

Spin-em said...

http://www.autoblog.com/media/2006/11/x07ca_dt007.jpg


Sweeet!!!..Congrats Bunkerman......but wheres the gun rack???