Tuesday, May 26, 2009

Back in the Saddle

I see the pop up in stocks last Monday got hammered down. The S&P 500 chart now look like it wants to make an intermediate term A-B-C correction pattern bottoming around the 50 DMA at 850, maybe in a week ot two. Fine. I'll wait until that point or time to add to the longs in Obama Fund to get it to 150% long from the current level of about 125% long.

Fido Fund is still at 100% long. I'm noodling over adding there.


From comments here and conversations with some readers, I think that the "Good Music Theorem" needs some examples. I'm preparing a top 20 list of my favorite songs, and am even making them into a playlist on my Mac. For today, I'll provide two.

First is "Will You Still Be Mine?", a super song performed in 1941 by Connie Haines singing with the Tommy Dorsey band. The writers were professional songwriters Matt Dennis and Tom Adair. I think the lyrics are some of the best ever done. Here is a link on YouTube -> http://www.youtube.com/watch?v=t1mBU-GpFGE

Second is a favorite from the Depression years. "Happy Days Are Here Again" was a huge hit and become the campaign song of FDR's 1932 campaign for President. The song is the unofficial theme song for the Democratic party now. The lyrics are fun and the music is bouncy. Here is a YouTube production using a recording of Ben Levin and his orchestra -> http://www.youtube.com/watch?v=gqsT4xnKZPg This song and video are awarded the honor of being the official song and music video of the Obama Fund. If you watch to the end, you'll see Barry with a fine s***-eating grin. Such a fine vulgar Americanism, that word, s***-eating. I'm sure it makes pompous grammarians and anglomaniacs cringe.


I'm now reading "The American Language" by H. L. Mencken, in which he lays out the development and opposition to the creation of a true American language, as distinguished from English. For now, American creation of compound words and expressions is one element of its divergence from standard English. I completed a pushy survey over the weekend for the Commerce department for my businesses. It asked the language in which I did business. "American" was not one of the choices, so I checked "Other". Yes, I am contumacious.

Word of the Day

"Carboy" - noun [$10]; a Mencken word
Carboy means a large globular bottle usually protected by a frame, for containing especially liquids.
Sentence: Perhaps GM bondholders should order a carboy of vodka to drown their sorrows as Comrade Obama guts their rights and steals their value in his piratical "reorganization" of that firm with his union gang buddies.

Le Mot du Jour

"Étonnant, e" - adjective
Étonnant means surprisingly, amazing, astonishing.
La Phrase: Il sera étonnant si quelqu'un prêterait au GM à l'avenir.
Sentence: It will be astonishing if anyone lends to GM in the future.


mern said...

glad to see u made it back safe bman.

happy days r here again......lol

General Electric Co's (NYSE:GE - News) growth will be "harder to come by" in coming years given the prospect the global economy may grow at a slower pace once it emerges from recession, the company's chief executive said.

"The basic engine of global growth for a long period of time -- maybe 25 years -- has been the U.S. consumer," Immelt said in a speech to clients, business partners and media in Tokyo. "The U.S. consumer is finally going to have to save."

Commissars and pin-stripe bosses
Roll the dice.
Any way they fall,
Guess who gets to pay the price???
Money green or proletarian gray,
Selling guns 'stead of food today.

a terrible song.

nice shot by lebron on friday. i bet the cavs get 79 foul shots tonite. stern will make sure the cavs get through.

bman u looking at NVAX? like the chart, and the funnys look decent, from a hype perspective. they have a decent shot of getting some orders from the govt over the next 30 days. and i think there is a decent sized short position. i took a mark, and have been adding below 2 and slutting some over 2.

Bunkerman said...

I guess you didn't get the memo, mern ;) -> the growth will come from China, India, east Europe, South American, SE Asia, etc. Billions of new consumers will make up for graying US.

Demographically, US consumer had to slow anyway: baby boomers leaving 25-54 spending age group.

mern said...

i dont know, im a big picture guy.

the ocean is running out of fish.

can the earth handle more than 6 billion people?

imvho, nooooooo.

if me make glass where i want to that wud kill off about 1 billion or more.

im sure frosty can is a witness. those salmon aint as plentiful as 10 yrs ago, leaving more time for brokeback mountain moments.

NVAX says they can have a vaccine ready in 10 to 12 weeks, been 4 already. this reminds of FUEL, but with some fundamentals.

mern said...

ya and i know, let me save spin the trouble.

"hey mern, the jerk store called..................."

Bunkerman said...

I'm really not a trader anymore, so stocks like NVAX make me sick.

I'll stick with my 50 Obama stocks that are geared to the recovery.

Spin-em said...

Oh surrrrrre...Chief talks crap about Bunk and mern in the tank...Bud no defends "his pals" just chuckles with the crowd and IM THE BAD GUY????..pfftttt

Bunkerman said...

Oh, no one need defend me, especially in a place with a $6000/yr wall around it. Such braveryin my attackers!

Why take arrows from such curs to defend me? If they are poltroons hiding behind that high wall and can't brave a free forum as this, then ignore them.

Gosh, and I can't find Samuel Johnson's dictionary of insults - those came straight from my grey matter.

Just tell them this, Bman says, "va te faire foutre"

That's a quote from a 1930 era movie by Maurice Chevalier - you can guess the meaning. The censors didn't know French ;)

mern said...

whats the difference? im there all time best seller!


Frosty said...

Bunky...we should work off the oversold by next tuesday, get the put call back below .50 once we trap the fresh skim...please post the buck fever indicator :)...welcome back big fella

Frosty said...

Can anyone locate a borrow NVAX?

Frosty said...

where is aazzhead...he must have hooked up with bagger vance.

Spin-em said...

hey no prob...guess its me.....got ur back and loyalty cant be learned from a book

mern said...

frosty and the motley fools short NVAX. oh and some jomoke from the TSCM thinx its a great short.

good looking chart, hype deal, tscm and fools r short.


Bunkerman said...

hmm that buck fever indicator ... I buy, market roars next day; then pulls back; then roars.

Not sure it works contrarian, frosty ;)

Still, I was rather patient in just putting 1/2 to work. Maybe I didn't have buck fever.


mfl59 said...

mern good to see you trading again pal....i hear the tank looking for new members...

Bunkerman said...

Hmmm maybe my patience waiting for the S&P to go to its 50DMA is contra-buck fever indicator ?

Maybe the facts (consumer confience big uptick) just triumphed over the chart trend.

mfl59 said...

Indeed the US consumer will save the day....


Frosty said...

uh Bunky..I don't see Mrs B tossing her skim around like a drunken dog circus ringmaster.

Bunkerman said...

Mrs. B is still thinking about what to buy and what to cull.

Bunkerman said...

mostly she's going to dog agility events & taking dogs to sheep herding.

On a bigger pullback she would be more interested.

Bunkerman said...

I guess Ms. Market likes the Obama Fund theme song.

It's good to be in harmony with the market gods.


Frosty said...

indeed...we would be much higher with an uptick rule.

Bunkerman said...

with an "real" uptick rule last year would never have happened - no raids, no panic in September.

S&P would have held 1200, Dow 10,000.