Friday, April 11, 2008

GEe, it's Friday !

I'll update this post after the GE earnings come out at 6:30 AM ET. [ **see update below .. ugh ! **] As a diversified multinational industrial company with large businesses in infrastructure and substantial overseas and export components, I expect a good quarter and outlook. The CEO, Jeff Immelt, seems to be doing a fine job and bought outright about $5 million in stock in March. He was quite bullish at a conference in March, too. GE is a large holding in my Alpha Fund and I have a fine profit already.

Stocks rose on higher volume Thursday ... a good recovery after Wednesday's slide. The endless streams of opinion we hear on Babblevision and Blabberg really should be cut back and substituted with facts. But I did hear early this AM on Blabberg that Bill Gross of PIMCO has shifted his bond asset allocation greatly in favor of mortgage securities and has much less cash and Treasuries.

Spring is finally here. This winter was too long and harsh. Where is global warming ?

The rise in world rice prices is interesting. I never traded rice when I was a commodity speculator so don't know much about the fundamentals. But maybe this ditty applies, "how ya gonna keep 'em down on the farm when they've seen Beijing? " That is adaped from the WW I Irving Berlin song about US farmboys having served in France and seen Paris [sung as "Pa-reee"]. As events proved, they did start to prefer city life and opportunities. I'd guess a farmer spending days in rice paddies might think a job in the city is a better life. And so farm labor and actual farm land in those areas of the world where rice is manually cultivated might be suffering a steady decline. This is just a guess. I'll try to read more about this interesting development and write in the future.

PS: GE missed earnings estimates and lowered guidance, due to the large financial sector exposure. Phooey ! Oh well, I thought they had done a better job controlling that - sounds like they got hit in mid-late March. Not selling. I like it LT. I sold 1/3 over 37 on the recent poparoo. My position now is well-sized, not adding. Bears will certainly press again now. More slogging ahead ... ugh ... this is tiring.

PPS: China takeover rumors for CCJ, a long-term Alpha Fund holding. CCJ is the world's largets uranium mine.

P^3S: Revision - if they knock GE down enough, I will re-buy that 1/3 this morning.

P^4S: Btw, this is why one always waits for good dips to buy. And expects beefers to attack hard again, as I did write recently. There is usually an ebb & flow to news that causes volatilty. However, metaphorically this GE news is a surprise pothole under the car. We must watch the road ahead, not the part under the car or the rear view mirror except as it affects the future.

Word of the Day

"Indulciate" - verb, transitive [$1000] rare. Pronounced with a soft "c" as in "dulcify". A variant spelling/pronouciation is "indulcate" with a hard "c" as in "inculcate". I originally saw this interesting word in a letter from George Washington to a niece quoted in the fine book, "All Cloudless Glory", vol. 2.
Indulciate or indulcate means to sweeten in the sense of make agreeable, less painful. This word has a softer meaning than "inculcate" which means to teach or impress upon by emphasis or frequent repetition, but a stronger meaning than merely "suggest".
Sentence: A. [this is George Washinton's usage to his teenaged niece] "... I nevertheless will endeavor to indulcate upon your mind the delicacy and changes of that period [i. e., young womanhood] to which you have arrived under peculiar circumstances [i. e., no living parents]."
He chose that word to be gentle and fatherly to his niece, yet wanted to elevate his concern beyond making a suggestion or passing thought.
B. [original usage of 1628 from OED] "A friendly warre [war] doth indulciate the insuing cloze [peace]." This should ring true, as harsh and brutal war tactics make friendship after the peace quite rare.
C. [new] I won't try to indulciate for readers the GE earnings report aka "put lipstick on a pig".

55 comments:

Bud said...

Dear Sal,


Thanks to your incredible support, we are airing ads across Pennsylvania. I wanted to share one very special ad you helped us get on the air. You'll see a new side of Hillary that you might not have known about before.

Click here to watch our new ad, "Scranton."

This ad and others like it are up thanks to you. The race is close, but I know we are going to win because of what you have done for Hillary. Your support makes the difference every single day, and I can't tell you how much I appreciate all you do.

Sincerely,

Terry McAuliffe
Chairman, Hillary Clinton for President

Bud said...

another reason i like john mccain

he agrees with the overwhelming majority of scientists......on climate change

Bud said...

the liberal media really disgusts me

every time bill clinton says somethin.......they accuse him of racism

the liberal media is totally in the tank for obama



die Obama die !!!!!!!

Bunkerman said...

re Bud re liberal press & Obama.

They are acting like they always did FOR Clintons, now turned on them.

Such knaves.

Bunkerman said...

If I re-buy that 1/3 of GE (if they knock it low enough), I'll probably go it with in-the-money calls as this will be a trade for a few months.

Bud said...

uh.........the media has never been fair to the clintons

they dogged him with anythin they cud in the 90s .....from a money losing land deal to the blue dress

they tried to overturn an election.....didn't work

bill clinton left office with a 57% approval rating



die Obama die !!!!!!

Bunkerman said...

I guess that perspective was the same ... from my point of view, I always thought the Clintons were given a pass on policy and personal matters that a convervative was not.

That phrase, the "Clinton News Network" for CNN, was really true in the past.

Bud said...

i'll be outta here around 11 today

golfin.....67bux with lastminutegolfer rate

another week.....another offensive player of the week award for me

i really thrashed you guys hard this week


memo to self : be nicer to spin and mfl next week.......and frosty.....well.....he keeps tryin to come inside on me....and i keep takin him deep

mern said...

"scranton" ROFLLLLLLLL

which farelly brothers classic has a middled aged loser, woody harrelson wake up in scranton in 1996?

when is hildog gonna start singing
"well were living down here in allentown?"

the veracity at which GE's financial services biz blew up in march, imo, makes negative GDP for the first q, 100% in the books. and inflation is over 7%, imo.

is that stagflation?

was chatting with my old manager yesterday. he is the guy managing my munis for me. we were talking about the cpi and the bls. kevin is like u ivy leaguers. much much smarter than this idiot. he was giving me the reasons the BLS waters down the CPI. he said the CPI is closer to 20%. i LOL, and said probably more like 7 to 10% and he agreed. asked him about the PCE and he said they samething i did. "the PCE doesnt see my bills!" he is putting 2 through college and 1 through private school. he is rich and still complains about inflation.

go figure?

Bud said...

i agree with that Bman.......watchin the media now i realize why conservatives thought they never got even close to a fair shake from the mainstream media


i never had a problem criticizing or challenging Clinton on matters of public policy

but all the other garbage......the media spent 8 years attackin him

but in the end ....he won

Bud said...

we have so many media outlets now.....radio tv internet papers magazines.....from every viewpoint.....left right and center

the mainstream media's control on the electorate has diminshed ......but it is still there

Bud said...

ed rendell is one of my favorite guys now

he givin Hillary everythin he got

keep up the gud work Eddie !!!!

mfl59 said...

Bud what happened on the O'Reilly Factor last night on Fox? I know you enjoy that program...

Bunkerman said...

uh ... mern ... I think you meant "celerity", not veracity.

Bunkerman said...

or maybe "alacrity" ;-)

Bud said...

lmaooooooooooo oreilly

i hate that guy

but......i have watched a lil'bit of hannity and colmes......not bad

sean talks about jeremiah wright everyday.....as he shud

msnbc doesn't even allow anyone to mention reverend wright anymore


PS.......seems like mfl fired his previous useless pitchin coach

mern said...

"celerity" is not used by hill rats, from dayton

;-)

veracity is frowned upon as well, but im upper crusted white trash.

anyone notice many farrely brothers movie take place in scranton or cranston RI (which is even a bigger shit hole than scranton!)?

Bunkerman said...

bid for some GE calls & got hit. 1/3 position. Will be patient on rest.

mern said...

beefer ping pong, bman?

sell near 37, buy back near 33.

well done sir! or shud i say slut??????

Bunkerman said...

btw, I'm playing the Sept 30 calls so I can hold for awhile until they get earnigs back up.

Bunkerman said...

yes, I have been slutting a bit lately.

I think I should have done more of that last fall ... missed some good plays in wanting stick pure LT.

I have to be aware of tax issues ... MA taxes short term gains at 12% and under AMT, that hurts when added to the 28% AMT rate.

mern said...

all the perils of being a "common man"

lol

i miss paying AMT!

Spin-em said...

Go fuck yourself mern....

Bud said...

what farrely bros movie is that with sranton?

mern said...

king pin

its a classic.

spin went down with my spitter.

hey charlie, cut flash gordon, and sign mern.

;-)

mern said...

cud be the perfect the fit. i shud be shit canned next week, imo.

if i can keep this job, ill start going to church.

well no, but i promise not to drink any more.

however i wont be drinking any less, either.

Bud said...

i don't what type of pitch that was......but it did bamboozle spin

ever since i bashed you guys......pitchin has improved

where's frosty?? i guess he took enuff of a beatin from me this week

bye


die obama die !!!!!

mern said...

spin doesnt like when i take cheap shot at "the valley."

he shud know better. i do like it up there.

that did make me LOL

sorry spin

:-)

(but there is a reason the farrely brothers use scranton and cranston)

Bunkerman said...

I might wait a few days to fill the rest of those GE calls. I want to either diversify by price or time.

Bunkerman said...

The elistism of the Masters bothers me. The sexism, too. And the past or present racism.

There is so much I dislike about that place and event. Ugh!!!

If people want to be snobs/jerks, at least let them do it with TV, guests, etc.

mern said...

thats y i root for tiger every april.

it makes bobby jones spin in his grave

mern said...

"How many angels dance on the head of the pin?," she responded, continuing to giggle

hildog quoting the dead?

they r voting for obama

Frosty said...

the masters is a great event...you can leave your chair anywhere and no one will touch it, hell I think you could leave your wallet on it...everything is dirt cheap at the event, food drink hats, everything is so clean and fresh.. what a beautiful piece of landscape, very peaceful, church like...everyone is extremely polite, very different from any other sporting event.

mern said...

come on frosty!

if they let more blacks in, wud u leave your wallet on your chair.

i dont think judge smales wud have let tiger be a member at Bushwood.

Frosty said...

one could debate the politics of the event endlessly, I refuse...it is an american classic, and must be experienced to be understood and then compared for what it is, a truely unique sporting event....I think it's without compasison,

Bunkerman said...

uh ... frosty ... at my annual MG "event" one can leave an envelop of cash anywhere and no one takes it ... they turn it in to be claimed.

And everyone is really polite there, too.

Cheap food, friendly people, etc. Plenty of sharing of equipment and experinces .. sheer heaven.

;-)

Frosty said...

Bunkerman...with those index futures gappas appearing to want fill and ops expo next week...I like the idea of keeping some powder dry GE...the 30 handle should be a battle ground if I'm reading things right...just my 2 cents.

Bunkerman said...

and celebration of the 2nd Amendment is more patriotic. Plus it starts with Pledge of Allegaince and a prayer for troops.

mern said...

i watched "gone with the wind".

whats the difference?

the only difference between nascar and golf is the white people who watch it.

golf viewers r rich

nascar viewers r poor white trash, like r current president.
well he aint poor, but he wud be if he didnt inherit the lottery at birth

Bunkerman said...

thanks frosty ... patience was re-learned the past six months. Ms Market is a stern teacher.

mern said...

Pledge of Allegaince NEEDS TO GO!!!!!!!!!!!!!!!!!!

we all knew that before age 4. isnt that what a cult does?

i personally find the god comment very offensive.

it is like church. they brainwash u, and beat those prayers into your brain before u r old enuff to even understand what your r muttering.

"bless me father for i have sinned!"

i wonder what the priest was thinking when i gave confession? did he listen to me or was he just thinking how he cud get my silky white butt into his bedroom?

YUCK!

die religion die!!!!!!!!!

Frosty said...

uh mern...an admitted deadhead cult member...eat some acid, shit your pants and apace dance for days to music no one sober understands vs. helping the flock of ones local church better their lives...that is a tough one, you really gave me something to think about.

Frosty said...

should I round the bases twice...no, that's just showing off.

Bunkerman said...

hmmm maybe my MG event reference went over the center field wall, too. Sorry frosty, the common man rules :-)

Bunkerman said...

Hmmm ... who was getting really vocally bullish a few days ago ? and angering the trading gods ?

[btw that's polydaemonism - belief in evil spirits - repetition is the mother of learning]

Frosty said...

LMAOOOOOO...I thought you were pitching ie MG event...you and Mern had me in the tag team...scrambling indeed.

mern said...

frosty u went down looking.

no one beat those songs into my head except myself.

people come and go from that scene, no pressure or guilt associated with leaving the gang.

in fact it is the opposite. most people think the thing is a joke, songs too long, vocals not great.

as oprah is preaching, live in the moment and u will find inner peace.

what the dead r to me, is what your parents were to u.

i learned a lot from their successes as well as many many failures.

an inherntely flawed church is gud thing, right?

www.ratdog.org

watch bobby speak on being taught the blues, very interesting.

Frosty said...

he will be a perma bear by tuesday...just in time for a little sheep chasing.

mern said...

Fresh signs of distressingly high inflation added urgency to a meeting of finance chiefs from rich nations on Friday that aims to agree on how to keep a credit crisis from dragging the global economy into recession.


r these idiots hiring?

Bunkerman said...

hmmm the cure for the crisis ... Buy American !

Like B-man. Eat grits. Make own bread ... drive only about 5K miles per year { ok, in a caddy/H1 ;-) ]

Dollar would rip up, stocks ditto as foreign bears have to buy.

Frosty said...

you forgot...drive your tank to town full of gold and sivler, trade it for dollars :)

Bunkerman said...

early martinis in order today.

mern said...

do u really think a family of 4 with 2 cars and 2 jobs can live that life?

i was asking my main man if he was as heavy as he used to be about 7 yrs ago.

"about the same, i lost some and then put it back on. between the drive and work, when i get home its sure easier to toss back a few than exercise"

cindy makes our bread, but we dont have kids.

i drive about 8k a yr and i rarely use my car.

most people r not that fortunate.

if u aint rich, 24 hours in a day, aint enuff, to live right, in this country. one of the reasons obesity is such a problem.

all the fat asses here goto lunch for an hour and fat out. i hit the elipitcal for 45 minutes, and im still overwieght becuase of the alcoholism.

Frosty said...

early and often indeed sir...have a great weekend bunker boys...better days ahead.

Bunkerman said...

put a bid in for 2nd set of GE calls ... doubt if I get them as the delta is dropping fast since I'm playing Sept. 30's

Stock needs to get to old intraday low of 31.65, I think, or a motivated seller of the calls to appear.

Patience, Bman.