Morning Audibles 6.7.10 - All Quiet on The Western Front (So Far)

Looking at futures this morning, All Quiet on the Western Front (so far)...

All Quiet On The Western Front is a novel by Erich Maria Remarque. The book was published in 1929, and it was the author's way of coming to terms with the war.

The work also has a history with censorship--the book was banned in Germany. Here are a few quotes from All Quiet On The Western Front.

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CHAPTER 1
"The soldier is on friendlier terms than other men with his stomach and intestines. Three-quarters of his vocabulary is derived from these regions, and they give an intimate flavour to expressions of his greatest joy as well as of his deepest indignation. It is impossible to express oneself in any other way so clearly and pithily. Our families and our teachers will be shocked when we go home, but here it is the universal language."

"The wisest were just the poor and simple people. They knew the war to be a misfortune, whereas those who were better off, and should have been able to see more clearly what the consequences would be, were beside themselves with joy. Katczinsky said that was a result of their upbringing. It made them stupid. And what Kat said, he had thought about."

CHAPTER 3
"You take it from me, we are losing the war because we can salute too well."

"Give 'em all the same grub and all the same pay/And the war would be over and done in a day."

CHAPTER 6
"We lie under the network of arching shells and live in a suspense of uncertainty. If a shot comes, we can duck, that is all; we neither know nor can determine where it will fall."

CHAPTER 11
"Our thoughts are clay, they are moulded with the changes of the days;--when we are resting they are good; under fire, they are dead. Fields of craters within and without."

CHAPTER 12
"He fell in October 1918, on a day that was so quiet and still on the whole front, that the army report confined itself to the single sentence: All quiet on the Western Front. He had fallen forward and lay on the earth as though sleeping. Turning him over one saw that he could not have suffered long; his face had an expression of calm, as though almost glad the end had come."

---reprint of Andy T (Sunday Evening Post 6/6/10)---


Good Evening Capitalists,

It seems like just several months ago that Wall Street "Talking Heads" were lamenting the collapse of the Dollar and how the "Dollar carry trade" was just beginning and could last for many years. It's amazing how quickly sentiment can change, eh? The DXY has witnessed a huge rally and the shorter term technicals are still bullish. However, I'm now a "leery" long, with only 20% of a Max long position dedicated to the DXY, mostly because it seems like there is far too much bearish sentiment towards the Euro. Seriously, is there anyone that doesn't KNOW or believe that the Euro is going the way of the DoDo bird? As with the DoDo bird, the longer term picture for the Euro is clear, but it's probably not going to happen tomorrow. (The 20% Core position is there just in case my "gut" is wrong on the short term call.)

I've included only one S&P page here. It was a bad week for the stock market. The pattern is clearly corrective off the lows, exhibiting a "I've fallen and can't get up" look. I'm not in the camp that we're definitely going to crash, but there's a good chance we'll see at least 1,000 in the next few weeks.

The bears are clearly "in charge" right now and are the stronger team. So, why bet against them?

DXY Update With Some SP500 6 Jun 2010