More Plain Speaking

More Euro-smashing.
More Beefer Ping Pong.
More Driving Cutbacks.

Wachovia gets new CEO, to book reserves for bad loans, to write-off goodwill.
BAC says no need for more capital, no dividend cut.

Germany gets reality check on nuclear power - kissing Greens might have to stop - and they'l need that power as wind, solar can't make it up and emissions from coal would be a lot.

Summer driving season is dead. Gasoline demand is flat on weekly demand chart and back to 2003 levels.

Market technicians keep making prophesies ... all that seems so much like reading the motions of birds, or spots on a liver, or the pattern of bones tossed on the ground.

Bunkerman's "prophesy" that the beefer traders would take out a logical "level" occurred yesterday, as the S&P entered bear market territory, making it unanimous. This is simply a trading rule: traders/locals always break logical levels to run stops on the public - stampede the "herd", etc. This happens on the way up, too. There were several examples of that in the past few rallies.

I am still searching for couple more of stocks to buy. Doing nothing otherwise. This weekend I'll check for any needed re-allocations in the Krypto Fund.

Word of the Day

"Controvert" - verb, transitive [$10]; the noun "controversy" is common but not the verb.
Controvert means 1. dispute, deny; 2. argue about, discuss.
Sentence: Some readers controvert Bunkerman's core thesis, viz., that big, evil funds [aka "beefers" ] dominate and manipulate market moves on the short and intermediate terms, but those believers in "efficient markets" are analogous to the theological scholaticists who denied the theories and observations of Copernicus and Galileo.

[ hehe - joking around a bit ;-) ]