Yesterday the market gods continued their "symposium" - in the ancient Greek sense of a drinking party - as the steady rally ground higher. Gold rose, too. Copper is close to cracking through $3 per troy ounce upward. The trading seems to rotate from group to group, but the resource stocks are pushing to recovery highs, hence must be considered leaders. I suppose some financials are "leaders", too, but I have a very hard time seeing significant further growth there as the recovery continues to gain steam.
The action didn't seem to be a blow-off, rip up that would certainly cause me to sell some of the calls options in the 1-2-3 Fund. Fido Fund's resource stocks are doing very well. Thus, I continue to sit.
Europe is up this morning. Europe and the emerging markets continue to lead the recovery in both the markets and in the real economy. Thanks, Obama & Congress, for giving us a wasteful, ineffective stimulus plan. What knaves !
Tomahawks
On the trail one needs a good, sturdy, sharp tomahawk. That was proven by centuries of trappers and mountain men in exploring and opening up the North American wilderness. I suppose many people do not realize that the American Indians did NOT have the ability to manufacture their own tomahawks. The American Indians before the white man were a neolithic* [Word of the Day] culture with no metal tools or weapons - not even copper or bronze - and no horses or any other draft animals. They did not use the wheel for transportation. The tomahawk was sold by the white man as a trade good - it was a simple, useful iron hand ax that the Indians quickly adopted and extended its uses.
What are the characteristics of a useful, modern tomahawk ? Light, sharp, a hammer rear head, and a simple, easily replaceable handle. Lightness is important as one must lug it over portages or when backpacking. I have a special replica tomahawk crafted by and to replicate one found in Virginia and used in the French & Indian War. My paternal ancestors fought the Indians then (circa 1764) on the frontier, which was then the eastern Appalachian mountain areas, hence I treasure this particular model which I purchased based on a review in Muzzleloader magazine years ago [see http://www.muzzleloadermag.com/ ]. I took it on the canoe wilderness trip and found it very, very useful. BUT its handle is rather well crafted as a true replica and would not be easy for me to replace.
After the trip I began looking for a more common but effective tomahawk that I could use without fear of loss or damage, being easily replaceable. I found one quickly from another review in Muzzleloader magazine. They are both available from http://www.octobercountry.com/ [mine is the "Ft Turner Camp tomahawk"]. I see the tomahawk is handmade in the US and also available from the manufacturer at http://www.fortturner.com/index.html for the same $60 price - see "Camp Tomahawk".
I bought the version named "Ft. Turner Camp Tomahawk" and the related sheath. It came yesterday and I am very, very happy with it. It's just a bit heavier than my exact replica, but the extra weight is in the head and would add to chopping power. I'm going to buy another one today and some replacement handles, too, as I like to practice throwing it.
Word of the Day
"Neolithic" - adjective [$10]
Neolithic means of or denoting the cultural period beginning around 10,000 B. C. in the Near East and later elsewhere and marked by by the invention of farming and the making of technically advanced stone implements.
Sentence: In 1492, American Indian culture and technology was neolithic, far, far behind the culture and technology of western Europe, China and India. For practical purposes, at best the more advanced Indian cultures in the western hemisphere were roughly at the level of 3,000 B.C. in the Near East, hence were 4,500 years behind the most advanced Eurasian cultures. Isn't it odd how modern revisionists forget this simple fact when assessing the impact and migration of the white man to the New World?
Le Mot du Jour
"Sortilége" - noun, masculine
Le sortilége means a (magic) spell.
La Phrase: Parfois pour rire, je jete un sortilége vaudou influencer les marchées. Quelquefois, il marche, quelquefois, il ne marche pas.
Sentence: Somtimes for fun, I cast a voodoo spell to influence the markets. Sometimes it works, sometimes it doesn't work.
Thursday, September 17, 2009
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79 comments:
good morning Bman !!!
i think some of the other readers here owe you an apology..............this market is doing exactly what you predicted earlier this year...........steadily rising
and yet some here were ridiculing you on your economic recovery and S and p recovery prognostications
PS......GS goin to 200 ???
is prognostication a 10dollar word ??
Bman is carlyle group a 'real' buyer ?? or are they a beefer ?? they doin an ipo
another excellent post Bman
i like that muzzeloader site.........cool t-shirt......i'm ordering a couple today........13bux? no problem
danke vielmals jim !!!!!!!!!!
PS..........what excatly is a'muzzleloader' ??
Bman are you sure about your Indian history ?? maybe they didn't exactly have a tomahawk..........but no question that had to have a sharp metal 'knife' ........how else would they skin and butcher a buffalo
PS.....why are there no more buffaloes in north america?? they weren't adanger to humans (like bears)...........aren't they just more physically fit cows?
do las vegas oddsmakers read this blog ??
i see miami now a 6point favorite ........the line should be 7 by kickoff tonite...........i am already locked and loaded at 4.5
the U is back !!!
yes re prognostication. It's not too widely known.
No apologies necessary ... this blog is devoted to maximum freedmn for the common man, including to challenge & criticise freely.
florida international ??? are you f'ng serious ??????
what?? the local girls grammar school football team had a scheduling conflict ??? f'ng scarlett fags
Carlyle is a beefer for some funds, a private equity hog for others.
Buyers beware.
Muzzleloader means one of the old balckpowerder rifles or muskets taht had to be loaded from themuzzle (the open end of the barrel).
Metallurgy & machining wasn't sufficiently advanced until the Civil War to permit breechloading, which was much better (faster & could reload hiding behind a rock, etc.)
they used sharp stone tools, Bud.
Even Cro-magnon man had those - they used stone tools to kill & strip the huge Mammoth.
flint makes a very sharp, hard edge.
a buffalo is a LOT bigger and stronger than most bulls.
The buffalo lost its habitat when the Great Plains could be farmed after invention of better plows.
If not for that, the Buffalo could have come back after being massacred by stupid, greedy white men.
by the way, the Plain Indians culture did not exist as a culture before the white man bought horses around 1500.
The plains were mostly uninhabited and by walking one couldn't hunt enough.
I have books with many original sources about this.
Deutsche Bank raises their tgt to $49 from $42, noting that MT presented a case for steel demand to rapidly return to precrisis levels.
hmmm ... sounds like a "return to normalcy"
yes sell-side analysts are terrific...wait for stock to rally 300%...then upgrade it...don't forget the downgrade that came when the stock was 50% lower.....
guy probably went to Harvard...
well, I meant to emphasize that MT thought steel demand would quickly rise to pre-crisis level.
I agree analysts are fools.
why good morning to Bman only??.....its rude and it hurts my feelings....
Bman do you like GNW, please ?
ipo's coming monday from Goldman
Artio Global Investors ART 09/21/09
Select Medical Holdings
SEM 09/21/09
Shanda Games Limited
GAME 09/21/09
global transaction tax on table at G20 meeting
missle defense shield outtta here....youre welcome "evil doers"
Barry = Carter....at least with Carter....there was Billy beer
thanks Mike
yup Barry morphing into Carter before our eyes.
I don't understand insurance companies. No opinion, I never look at any of them.
thanks
Business Standard reports gold prices may be scorching at an all-time high, but it has failed to keep away jewelery buyers from making purchases ahead of the festive and marriage seasons in anticipation that the rates may shoot up further. "The retail sales as well as the bookings for the wedding season have gone up as people, who were holding back on expectations of fall in prices, started purchasing thinking it might go up further as the season progresses," Mumbai-based P M Shah Jewellers' Dinesh Jain told PTI. According to Jain, there is great excitement in the market. People have been purchasing the precious metal even during the 'Shradhh', an inauspicious fortnight according to Hindu mythology, which will end tomorrow, he added
Krypto, good buys in gold at about $700 - here's a bonus dog biscuit, you are a super beefer manager.
money management is such a vacuous business. Those guys get huge pay, yet Krypto outperforms most for dog biscuits.
What a world !!
I made a trade yesterday...all by myself...best trade ever...see me, respect me, luv me.
loooooooooool frosty
you're a funny guy............you're also a f'ng douchebag
PS.......still wanna be friends ???
listen you f'ng prick
aren't you the one that says i 'ain't too bright' ?? well if that the case...........how i gonna do trades on my own ?
i need help......i ain't embarassed to admit that.......remote control indeed
PS...............1 thing i don't need ..........ans i'll never need..........is frosty's stupid 'ops expo open interest spreadsheet'
frosty is 1 of the 'know it all' who owes the Bman an apology
ridiculing him all the way up with his stupid 'spiddy' posts........who the F says spiddy anyway ?? who talks like that ??...........take your spiddy and shove it up your ass..........oh wait...........you prolly enjoy shoving things up there
PS.......still wanna be friends ???
well, frosty correctly doubted my H&S debacle call of July.
"shoulda listened, re-thought ..."
Krypto's best call of the year was to overweight REITS....well done boy...
uh ... Krypto is a female
Good doggie ...
Yes, she bought a small mountain of them ...
Maybe I'll get her a McD cheeseburger for a year end bonus.
she & all the dogs love McD ...
they lick their chops when we drive to the Golden Arches ... or even mention it.
speaking of REITS......any thoughts on GRT, please
September Philly Fed 14.1 vs 8.0 consensus
bongs & pipes must be in demand ...
I just buy the baskets, Mikey.
Hmmm ...
GRT -5.0% (announces modification and extension of credit facility through December of 2011, agreement to sell Lloyd Center for $192 mln),
Glimcher Realty (GRT 3.96) priced a ~26.66 mln share common stock offering at $3.75/share..
Sounds like a survivor ...
but no opinion, I don't know anything about them.
in recent recessions, once the economy gets going (or bottoms), REITs roar.
one reason for outperformance: they do very well in inflation, so those fears help, too.
thanks Bman......the last time I traded a REIT, was a few years ago and that was a short on AIV which was posted in the tank by mfl59
I see nothing but vacancies in commercial real estate anywhere I go....comments Bunkerman?
Hope it helped mikey....Im sure Bud faded all my picks...
the AIV short worked well...and i was never all that good with shorts...
lol my shorting ability is under scrutiny after the last week...I think I'll blame Bob...everyone else does....
"Pierdol sol Bob!"
bongs & pipes must be in demand
loooooooool....mighta been Vick Jerseys
re vacancies, that's always the case in recessions.
by the time the space is filled, the stocks are way up.
so are you confident that many small businesses will pop and fill out all the vacancies?
slowly, yes; unless something changes. Americans are entrepreneurial by meme if not gene..
that's a hint of a coming post: Meme vs. Gene
meme will be a word of the day, too.
2 mini melts when Carter on the tube....
fat bastard taxes going higher...pig tax...all the talk down at drucker's general store...arnold just tossed the checker board.
made another trade today all by myself...banked a buck...my panties are dripping.
just spent 200bux plus on muzzlelaoder.com...........i cud spend a bunch more.............i wanted to buy every book...........can't wait for swords and blades from the american revolution
200bux..... can i afford it??........oh i think so
danke vielmals jim !!!!!!!!!
Bman what is buckskinning ?? sounds like somethin frsoty likes to do with young....ummmmmm.........'bucks'
PS......still wanna be friends ??
there he is !!!!
thought i had crushed frosty for good........you're the best bob!!!.......you're also a f'........uhhh......no........i won't say it anymore today.........bob seems pretty fragile.......i guees i shud
'call off the dogs'
ALERT!!! ALERT!!!
Sal Bass one cocky twat these days....
CAT darkside
nailed it !!! about 50cents.........another 'blip' hit over the 2nd baseman
danke vielmals jim !!!!!!!!!!!!!!!
50 cents ... lolol
too bad you missed the calls two days ago on CAT
I think it's used there as term for the art and practice of re-enacting frontier life pre 1840.
those people really work hard at that - making own gear, copying museum pieces, etc.
Living the frontier life on the annual or periodic rendez-vous.
an old friend of mine from the gun club did that. His outfits & lore were really fine.
lolol he liked my tomahawk throwing ability, too.
Locked and loaded Ga Tech tonight....what a gift that is...
making reservations at the local steakhouse as we speak...
"Way to go Sal"
GT has a secret scatter plan....going to suit up in police uniforms... win by forfeit
don't do it ace !!!
i am warning you........i have never been more sure of any game in my life........please cancel that bet........fine.....don't take miami..........but you'll be doin dishes at that steakhouse if you take tech
i don't wanna see you get hurt
can't wait for kickoff........the U is gonna romp
gotta go to the store and load up on mike's hard lemonade.....apple/cranberry....yummmm
have you ever tried mikeshardlemonade Bman ??
Bunky are you still long RIMM...not liking the double top look, it can't seem to blast the 85 strike ala the AAPL hedge destructor...reports on the 24th and I think there is further reason for concern...margins last Q not up to par, futher declines coming I fear...tracerball problem resulting in 50% Tour retrun rates at T and they are pressing for better QC, as they should...returns will hurt margins and a build in QC would dent margins by another 300-500 bps....fully hedged the postion here, holding my breath.
VZ is “experiencing serious problems”...VZ has leaned on RIMM for about 80% of its smartphone volumes, but that it will soon be getting new models from MOT and PALM that will compete with the BlackBerry....think VZ wants the iphone, will they get it...I think so.
thanks for info, frosty ... will take some defensive measures.
RIMM another couple lil tape tells perhaps....C reit today $100 target with it all coiled up opx, nice...QCOM TXN act punk in an otherwise juiced tape.
Fido Fund sold RIMM and I sold the calls in 1-2-3.
It wasn't a true part of my overseas revenue game.
Defering to frsoty on the risk/reward. It has struggled.
Decent gains on both.
my techs are just GOOG (stock in Fodio, calls in 1-2-3) and Mrs. B's AAPL (stock LT).
well played Bunky...VOD ceo yesterday said RIMM coperate sales disappointing across the pond...perhaps the best tell.
Sal "buying the Tour"
nibble some RIMM long...
lol I'm just joking Bunky...don't release the hounds on me...
the Tour ?? it's the Storm i like !!!!
man you really are a f'n.......uhhhh..........serenity now !!!!serenity now!!!!
Bman i told u not to listen to bob on stox.........he almost bankrupted mern with the QID
you better off listening to your bitch on stox.......ya'know......krypto
now I know how c c sabathia feels when he takes the mound against the bosox...charge the hill ya say aazzhead, best bring the bat and pack a lunch...I'll leave a light on.
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