Morning Audibles

You know that feeling that you get sometimes, when a particular event occurs (like 9/11, or the Kennedy assassination)... Or even when the Cubs win the World Series (no wait, strike that, the Cubs never do that)... Or when Obama wins the election (well  - the charm worked on Peggy Jospeh -  but not me)...

Anyway, you KNOW that feeling when it happens... Like, you know you'll ALWAYS remember where you were and what you were doing in that EXACT MOMENT...

To cut to the chase (after that long intro)... I got NOTHING along the lines of those feelings by watching the election returns last night... It wasn't like "Oh my God - Somebody is MAKING HISTORY here"... Instead, it was just a bunch of red squares being filled in in graphical seats where blue ones used to exist...

One thing that IS interesting to me, though... Is that I like to see how people handle DEFEAT... So - ON PURPOSE - I watched the election returns on MSNBC... I just had to see Chris Matthews, Keith Olberman, and Rachel Maddow, sitting together at a desk, & watch their reactions as their new world order representatives were going down in flames... And they trying to calculate, IN REAL TIME, what it might mean for their RATINGS (because that's what's most important after all)... After that, what HORRIBLE things they could begin to SEED AMERICAN minds with now that "hope & changers" (who distanced themselves from Obama policies as much as they could in the run-up) have been replaced with boogeymen...

The bottom line... If you saw what I saw (on that channel anyway)... It seemed to be an almost complete denial of what was occurring... Whenever a "tea partier" went down, they bandwagoned to no end in attempt to deny the thought process (all whisked away by comments like... "Well - the Republican outspent the Democrat 4-1", or, "see America - everyone thinks tea partiers are KOOKS)... Instead, the attempt was clearly to paint the picture that most Americans would rather opt for "the middle" and not those EXTREMISTS...

I've got news for you Rachel, Chris, & Keith... You stand so far off the charts LEFT, that MIDDLE to you is somewhere in the normal realms of left (that's the litmus that you've placed yourselves in)...

I frankly think that Americans can handle a little bit of BOTH (a little left & a little right)... But the last 4 years of Congress saw the country pulled SO FAR LEFT (aided and abetted by the election of Barack Hussein Obama) two years ago, people were basically saying... "Whoops - we went too far"...

Now we get to see what kind of so-called LEADER we really elected in 2008... If people are expecting any IMMEDIATE outcomes, my advice is to not hold your breath... Frankly, I still think there is some UNDOING to be "done" still before any mending might commence (if it ever does)... A lot of it will be up to Obama himself (who, perhaps, finds himself at the White House requisition window asking to trade in his RUBBER STAMP for a VETO PEN)... His "economic dream team" is gone, his chief of staff is gone, there may be (anecdotally), some in-fighting by party members, as to his own job come 2012...

Do Americans care? Apparently so... But I think everyone will find out that they're actually a lot STURDIER than we were all led to believe by these clowns... We don't need messiahs & governance to roll us out of bed... And even if we're a little cranky... We still try to say "Good Morning"!



Ridin' on the City of New Orleans
Illinois Central Monday morning rail
Fifteen cars and fifteen restless riders
Three conductors and twenty-five sacks of mail

All along the southbound odyssey the train pulls out of Kankakee
And rolls along past houses farms and fields
Passing trains that have no name and freightyards full of old black men.
And graveyards full of rusted automobiles

Good morning America how are you? say don't you know me I'm your native son
I'm the train they call the City of New Orleans
And I'll be gone five hundred miles when the day is done

Dealin' cards with the old men in the club car
Penny a point ain't no one keepin' score
Pass the paper bag that holds the bottle
Feel the wheels grumblin' 'neath the floor

And the sons of Pullman porters, and the sons of engineers
Ride their father's magic carpet made of steel
Mothers with their babes asleep, rockin' to the gentle beat
And the rhythm of the rails is all they feel

Good morning America, how are you?

Say don't you know me, I'm your native son
I'm the train they call the City of New Orleans
I'll be gone five-hundred miles when the day is done

Night time on the City of New Orleans
Changin' cars in Memphis, Tennessee
Halfway home, we'll be there by mornin'
Thru the Mississippi darkness rollin' down to the sea

But all the towns and people seem to fade into a bad dream
And the steel rails still ain't heard the news
The conductor sings his songs again
The passengers will please refrain
This train has got the disappearin' railroad blues.

Goodnight America, how are you?

Say don't you know me, I'm your native son
I'm the train they call the City of New Orleans
I'll be gone five-hundred miles when the day is done

SPY 5 minute chart (with AH prints)
as of yesterdays close, it was still TRYING to push higher, but we'll see 

281 comments:

«Oldest   ‹Older   1 – 200 of 281   Newer›   Newest»
BinT said...

Yes, Good Morning.

I will be watching the next two years to see if this really means anything. I have a few lingering concerns.

Apparently, our founders considered having the budget balanced by law and discussed it in the Federalist Papers. At the time it was felt this might tie the hands of the government.

Probably the greatest science fiction novel ever written was the Foundation Trilogy by Isaac Asimov. In it he sees the future of mankind as sees that a time of turmoil and war is coming for what then would be many inhabited planets. People see this coming and plan for many generations in the future when a galactic war is over. Yet it doesn't go exactly as envisioned. One of the points is that it never does.

I would like to see a balanced budget amendment to the constitution. Otherwise we get back here in the future. And the Mule of Asimov's vision, our own Obama, will come back.

I would also like to see the ability of the fed to reduce interest rates to zero taken away. These massive movements to artifically unrecognizable levels is wrong, and produces catastrophic results. I would also like to see less ability to tamper with our fiat currency, as I think many of these moves have been counterproductive to say the least.

We'll see where she goes...

CV said...

@Bruce

As you know... The main purpose for ZIRP (at this juncture), has little to do (except on the periphery) with how it affects citizens...

It's all about the bloated government...

At this point, if you take away ZIRP, you destroy asset prices (which are FALSE values in a deflationary & de-leveraging environment)...

By nature, that reduces tax revenues that the fat pig of government counts on to pay the promises that it should have never made in the first place...

So here we STILL are...

Who wants to light the firecracker? (you know - that one with the SHORT FUSE)...

McFearless said...

well I guess these election results were basically what most people expected right?

Of course, what does it matter who makes the laws on a day when those that control the money make the biggest announcement they've made in over a year.

UP till 2:15?, then things should get interesting.

gl everyone

Jennifer said...

Good morning everyone! I was pondering the coming scandal alluded to in those clips from Ben last night when I heard a blurb this morning on the radio to the effect that the change in the house will re-direct the attention of the House Oversight Committee onto the Obama administration. Then, the announcer went on to say that this is the body currently charged with investigating the BP oil spill. The implication being no more investigation of the BP oil spill. Why can't we do both? I mean, is anyone here reading the stuff at Washington's blog about how sick people in the Gulf are? At least Giannoulis didn't win.

CV said...

By the way...

If you MISSED all the real time political punditry from last nights elecrions, you can catch it all here on this specially crafted "gold plated" CD collection set...

http://www.ritholtz.com/blog/2010/11/the-tragedy-of-the-obama-administration/#comments

I'm glad somebody is doing the job, carrying the torch, of saying for the j-jillionth time, in the double ja-jillionth way...

The same effing thing...

Do these people EVER tire of the keyboard?

CV said...

Basically...

Even CV is getting worn out "bitch slapping" these fools...

CV said...

What made me laugh about Ritzy's thread, (and all the "thread-a-teers")...

Was the fact - ACTUALLY, I'm just guessing - but I think the large majority were people who actually VOTED FOR Obama (and all these clowns) back in 2008...

In some case, I "know" (because I'd heard it expressed - that many of these people made campaign contributions and volunteered for the campaign that ushered in the results of 2008)...

So basically, these are "TYPES" who simply let their emotions get the better of them, and simply let their lives get swept along with the tides...

So now... On ELECTION EVE 2010... I'm supposed to listen INTENTLY on their effing opinions about ANYTHING?

Thanls for your help folks... But I'll go along thinking as I have been for quite some time now... It's done me OK so far...

CV said...

http://www.enotes.com/julius-caesar-text/act-iii-scene-ii

karen said...

good morning!! thanks CV.. for chart and all : )

In dollar news: http://www.fundmymutualfund.com/2010/11/us-dollar-about-1-away-from-new.html

karen said...

you should see what $xeu:$xjy did today..

karen said...

I thot only CV used the term Potus for Obama, but no:
smsearsBarrons

join major traders in remaining vy nimble as POTUS Obama speaks at 1, and Fed at 2:!5.

Bruce in Tennessee said...

I would also imagine this will be short term negative for state budgets. Any thoughts that national monies would come to say, California, I think will be reconsidered. It will make a more realistic round of governors and state legislatures...

karen said...

Wednesday, November 3rd, 2010, 8:30 am
BlackRock (BLK: 173.04 0.00%) will put forward a secondary offering of 42 million shares of its common stock.

34.5 million shares are being offered by Bank of America (BAC: 11.40 0.00%) and up to 7.5 million shares are being offered by PNC Financial Services Group.

Bank of America will likely grant the underwriters a 30-day option to purchase an additional 6.3 million shares of BlackRock's common stock to cover over-allotments, if any.

"BlackRock will not receive any of the proceeds from the sale of shares of its common stock," the investment firm said in a statement. "The sale of shares of common stock to be sold includes shares of common stock issuable upon conversion of BlackRock's Series B Preferred Stock."

BofA Merrill Lynch and Morgan Stanley are serving as joint book-running managers for the offering.

karen said...

PS.. that is a secondary I would LOVE to see plop..

McFearless said...

CV,

ha, I specifically did not read the comments on that thread of BR's because I expected it to be exactly that, a lot of I 100% agree posts from people that were or still are big time Obama supporters, they claim now to see the light and have it figured out though they were easily swept up in euphoria sans substance not 24 months ago.

Andy made a comment the other night "why does it matter who the message comes from if the the message is a good one"

Clearly, the messenger is very often the most important aspect for people, herds move toward the messengers and not the message.

Take for example the claims this morning that it's great Harry Reid won because his opponent was insane. Regardless of whether or not she was....my question is,.... isn't he too?

CV said...

@karen

Yeah... Technically, on the 1 and 5 minute charts...

I think "the read", pretty much is that there is just a relatively small space to wiggle around in until these famous ANNOUNCEMENTS from our big hereoes hit the airwaves...

Even if you're not a SLAVE... You're a SLAVE...

karen said...

Bruce, were you able to watch the David Stockman video?

http://www.cnbc.com/id/15840232?video=1631462460&play=1

call me ahab said...

I am quite upset that Christine O'Donnell lost-

she was easy on the eyes-

CV-

regarding BR's thread- I just find it entertaining- wading into it- getting a good laugh

karen said...

CA got Boxer again : (

McFearless said...

Karen,

regarding the Stockman video. I wonder if it bothers you like it does me that all these big name pundits are out describing the very things we have been discussing on these little blogs for over two years now. Really, things are not so hard to understand. I just don't think any of it is news.

McFearless said...

ahab,

you just enjoy the zoo, all the other animals are.

;-)

CV said...

@McF

Yeah... it was just a big circus of "Obama let me down" crap...

Basically - I didn't hear ANYONE say...

"You know... I REALLY FUCKED UP MYSELF by not looking under the hood and kicking the tires before I bought this LEMON hook line and sinker"

Classic!

Just like the money managers who love to utter... "Well NOBODY saw that coming"... when capital markets go haywire... But they're shouting at the top of their lungs when the market is topping...

ROR

karen said...

Ahab @ 9:48.. don't you have to go to work early this morning? LOL

karen said...

Note TBT! It's been such a tricker! seems to be in reversal mode now..

CV said...

Did anyone see Boehner get all emotional when he was giving his speech...

That was kind of WEIRD to me...

At the moment... I couldn't tell whether it was "fake" or not...

Still really don't know...

CV said...

I thought he was having an seizure or something...

call me ahab said...

Reid = Milquetoast-

but I don't live in Nevada- maybe he's considered a man's man there-

Karen- no . . .you had me nervous for a second thinking I was going to be late to my Thursday 10:00 meeting- but I calmed down realizing it is only Wednesday- so no rush

McFearless said...

CV,

just like the market right? When people make bad trades they first blame the market, then the Fed, or some other entity, maybe 10-12 years later they admit they made a bad trade. No different in this situation.

Bruce in Tennessee said...

Did anyone see the breakdown on the ADP numbers? Where were the private sector jobs created? Healthcare or maybe some other sectors this time?

McFearless said...

CV,

ha, didn't read the second half of your post, but yeah, I agree, just like the market, it's always someone elses fault, they "made you do it"

call me ahab said...

CV-

I saw that-

got a good laugh out of me- I don't remember Pelosi ever getting choked up

Bruce in Tennessee said...

Ben,

I really do think if we couldn't spend more than we take in except in times of true national emergency, and if the fed couldn't make enormously one-sided movements with interest rates, many of our financial problems would slowly fix themselves...

...My 2 cents.

karen said...

Ben @ 9:49.. unlike you, i am a poor articulator.. i have ideas in my head that i can't express succinctly, or backed by facts and figures. So I actually enjoy listening to a forceful, well-spoken, ADAMANT voice, explaining to others what I can't.. and no one would listen to me if I could, laughing.

But I get your frustration.. especially with Bill Gross tagging the Fed's Game as a Ponzi Scheme.. Has not Ron Paul been shouting this from the rooftops??!!

Humans are so darn slow on the uptake.. and we clearly haven't come very far from the cave days on a social/societal basis.

McFearless said...

re: Boehner

I think he's a strange cat as well. I really can't stand politicians, they are as bad as financial advisors.

CV said...

@ahab

Like I said above... ON PURPOSE... I was watching the msnbc coverage...

All night the whole thing was like... Yada Yada Yada... "Look the teapartiers lost there"... Or if the GOP won "Oh, the DEM was OUTSPENT there"...

Then the big shining moment was when Reid won...

They were like... Well, THIS SENDS a SIGNAL...

I burst out laughing... It's like your team getting creamed 69-0, then you score a junk time TD against the second string with a minute to go in the game... The 3 fans left in the stands start THE WAVE...

Bruce in Tennessee said...

And no anonymous big unlabeled pots of money like social security...needs to be individualized, maybe not privatized, but no longer anonymous...

Bruce in Tennessee said...

CV,

I watched a little of the ABC broadcast early this morning...I heard the word "repudiation" at least 5 times...

call me ahab said...

. . .or mortgage bankers

McFearless said...

Karen,

that makes perfect sense, I did think the video was really good, just a bit annoyed that people still have to tell the story, I mean, really these issues were pretty evident back in 2006....we are coming up on 5 years, to me I think holy crap, that's 1/6 of my entire life that this stuff has been out there to figure out if people were willing to look.

Bruce,

my .02....I think people would be stunned at how strong the economy could be without any federal reserve bank at all and a return to using real money, but you know, that's just considered insane in a lot of circles, so probably isn't going to happen any time soon.

CV said...

@karen

"Humans are so darn slow on the uptake.. and we clearly haven't come very far from the cave days on a social/societal basis."

CV says THAT constantly...

And then I am CONSTANTLY put in my place by other blogeteers who insist we are so fully evolved and claim that we can solve all problems if we would all just COMBINE our massive intellects...

Naturally coming out with an outcome that is in line with their political bias...

See?

I take the OTHER SIDE... I'd rather just FUCK UP... And hopefully... If I FUCK UP as an individual, I don't go pulling all the rest of the world down the HELL HOLE with me...

ror

call me ahab said...

last post in response to b22

CV-

it all just makes me laugh- I just can't take it seriously-

I was secretly hoping all the tea party folk won-

just to keep me entertained for a couple years

that Miller dude from Alaska- I'm not sure he's all there-

he alone will be good for some "comedy" if he pulls it out a win

CV said...

That reminds me...

I had this bizarre dream (VERY REAL) last night that Bill & Hillary Clinton were soliciting my (& my sister's - for some reaon) help to get Hillary the job when the office comes up next...

There was one part of the dream where I was helping Bill Clinton (who was drunk out of his mind and was barfing all over the place) up some steps...

I can't remember all the pieces, but it was pretty real...

WEIRDER YET

One point I sort of woke up (I remember knowing where I was, knew I was sleeping & dreaming, then went back to sleep)... AND THE SAME DAMN DREAM continued...

call me ahab said...

"Business Looks to Republicans to Block Obama on Rules, Taxes"

of course-

if the GOP wanted to get any kind of cred- they would indict and prosecute

Bruce in Tennessee said...

I think CV has a thing for Hillary....there are some deep hidden desires way down in there buddy...


...just let it go!

karen said...

CV.. I have those types of dreams all the time! LOL.. thanks for sharing : )

call me ahab said...

I thought Hillary- the first go round in the WH- was not bad

AmenRa said...

When was the last time the SPX stayed within a $2 range during the first hour of trading?

karen said...

Ben, maybe you have some comments about CIM..

http://247wallst.com/2010/11/03/chimera-back-at-the-capital-water-well-cim/

AmenRa said...

ES has taken out its overnight low. Hmmm...

Bruce in Tennessee said...

I mean, this is classic Freud...CV is there with Hillary and Bill...Bill gets loaded...and the result...CV takes Hillary home! Classic.

Yes, I think there is something down there that is struggling to get out! Give it voice, man!

Leftback said...

CV getting in touch with his inner Democrat?

CV said...

@BinT

All I know is that Bill was a LOAD to carry up the steps...

I almost broke my back IN MY SLEEP...

karen said...

TraderMark says OPEN is the new NFLX.. i still think CSTR is the new NFLX so OPEN is the new CSTR.. oh my!! the P&F targets of these are wild!

OPEN 101
NFLX 228
CSTR 67
AAPL 408
AMZN 190
BIDU 165
qqqq 71

CV said...

Let's see...

How much "buying power" will I have with a $408 a share price on AAPL priced in dollars that are WORTHLESS?

Marc Faber said...

Ze dollahr vill bekom VURTHLEZZ, CEEVEE.

wunsacon said...

CV, the country was not pulled "so far left" the past 4 years. It stayed right about where it was.

karen said...

XHB not up so much today..

Wednesday, November 3rd, 2010, 9:28 am
PulteGroup (PHM: 7.70 -4.58%) reported a net loss of $995.1 million, or $2.63 per diluted share, for the third quarter of 2010.

The company spent a total of $417 million in the quarter, compared to $209 million the previous year.

Pulte said its merger with home builder Centex, completed in August 2009, also contributed to the quarterly loss as well as the net loss for the first nine months of the year; however, third quarter costs included the $23 million merger with Centex. Pulte acquired 4,316 homes from Centex.

Bruce in Tennessee said...

http://www.bloomberg.com/news/2010-11-03/bernanke-may-ignore-risk-of-inflation-growth-acceleration-similar-to-2004.html

"The Federal Reserve may be underestimating the inflation outlook for the second time in less than a decade as it prepares to pump more money into the U.S. economy."

“The parallels are very close to 2003, when the Fed had a maximum degree of panic about deflation when inflation had already bottomed out and was about to pick up,” said Stanley, a former Richmond Fed researcher who expects 2.8 percent inflation in 2012 on a rise in the prices for commodities and housing. “Their inflation forecasts are going to be too low, and as a result policy is going to be very easy.”

...Yes, I would say that Greenspan and Bernanke are not getting A's in their class on tea leaves..that much seems evident.

CV said...

@wunsacon

"CV, the country was not pulled "so far left" the past 4 years. It stayed right about where it was."

---

I forgot... You're correct... I neglected to consider that the politicians that were elected in 2006 and 2008 were off on their own tangent (working for themselves) rather than the interests of the people...

karen said...

This is good: http://www.businessinsider.com/here-are-the-5-bitter-pills-america-must-swallow-2010-11

karen said...

We've voted. What's next for the economy? (El-Erian)

http://www.washingtonpost.com/wp-dyn/content/article/2010/11/02/AR2010110207877.html

CV said...

@wunsa

"Not Bush" was mistaken as some kind of mandate...

karen said...

"For too many segments of our society, the ability to spend and hire is constrained not by questions of willingness but, rather, by stubbornly high unemployment, annihilative debts and, in some cases, concerns about losing one's home. As a whole, the United States is still overcoming the legacy of years of over-leverage and misplaced confidence that consumption can be financed by borrowing rather than earnings. The resulting debt overhangs act as strong headwinds to growth and employment generation." El-Erian.. CAN WE SCREAM THIS ANY LOUDER? REMEMBER MY 'COMMON SENSE' RANTS AT TBP YEARS AGO? OKAY, BEN, I AM JOINING YOU IN TOTAL FRUSTRATION, THIS MORNING. AND THIS BUBBLE BUSINESS IS REALLY GETTING TO ME.. DOT.COM, LEVERAGE AND PONZI IN 07-08, AND NOW THE QE BUBBLE.. OUR PEOPLE OUT OF THEIR EFFING MINDS???

Leftback said...

The relevant question this morning, my dear, is whether Bernanke is out of his effing mind.

Interestingly, I believe that he is not, and we will see a qe2, not a QE2, with open ended language.

Mr Market said...

I like to take the stairs up.
But I prefer to take the elevator down.

Mr Bond said...

Nervous, GOLDFINGER?

CV said...

@karen

People are "maroons" (as bugs bunny would say)...

But they'll be nice enough to give you their opinions anyway when you pass them on the street...

karen said...

BergenCapital

Rumor: I am hearing that Bernanke might have a Trichet-style conf.call after the Fed announcement in order to "nuance" the decision today.

(BTW, this fellow has Andy's Avatar.. in sketch form, not foto. So naturally, I am taken with him! LOL)

karen said...

LB, you should use PB as your avatar.. maybe I would be nicer to you : )
If you used Viggo or Daniel, I might be really nice to you!!

CV said...

"The relevant question this morning, my dear, is whether Bernanke is out of his effing mind."

I'm guessing that when he starts getting called to the Hill every 2 minutes to testify... He might come to his senses at an ever quickening pace as the dance card begins to get filled up...

Nobody likes people poking around in their dirty houses...

karen said...

CV, how long have you been on the DOW 3600 avatar?! LOL.. I don't think so..

karen said...

oops on gold! ha! tradefast went long points ago.. 131.63, i think..

karen said...

bespokeinvest - Pick individual stocks? Why bother? Schwab says retail investors piling into ETFs. http://bit.ly/8XOWEr

CV said...

Here's what SAXO BANK thinks about Benny's mental health...

http://www.zerohedge.com/article/saxo-bank-joins-chorus-voices-calling-end-federal-reserve

CV said...

I learned a new word today...

BERNANKRUPT - lol

AmenRa said...

I think the market is in agreement with LB ala qe2.

But why is the dollar higher? Any additional QE will debase the currency.

Mr Bond said...

You're sweating, GOLDFINGER.

karen said...

Fantastic RANT! thanks, CV.. I had missed that ZH.. <3ing Saxo's John H. big time, LOL.

Leftback said...

But why is the dollar higher? Any additional QE will debase the currency.

Because they already sold the p*ss out of it for months, mate. Now it's time to sell the p*ss out of some other currencies.

Leftback said...

Karen,

PB?

karen said...

http://market-ticker.org/post=171120

Some advice for America: "F*ck the Fed"

karen said...

3 guesses

karen said...

http://www.housingwire.com/2010/11/03/cmbs-delinquencies-rates-differ-in-two-surveys

McFearless said...

Karen,
I'll have to take a look at Chimera, don't really know much about them but as a REIT, I'm sure they are aces, right now I'm busy trying to write to a client to explain that VZ is not going to put GOOG out of business if/when they offer the iPhone.

one thing at a time, ror.

karen said...

my gld target is about 128 and dzz target 10.26

Leftback said...

Hey, I'm not bad lookin' after all...

McFearless said...

hey look, we still have green chutes:

Freddie Mac Still In The Sick House But Asking Uncle For Less

when do we get the headline that reads: Freddie Mac finally cries Uncle.

Bruce in Tennessee said...

Did you sell all your mirrors?

karen said...

zerohedge, dont look now but Irish bonds just went bidless

call me ahab said...

pretty much sums up the election-

It ended up benefiting Republicans not because they offered any great promise or confidence-inspiring record, but simply because they are the party out of power. The closest thing to a primal scream this year was casting votes against Democrats.

all have a good day

CV said...

@karen

"bidless" is the new way of doing "bidnezz"

karen said...

CV, thot you would enjoy the jingle i posted at 11:28..

karen said...

LB, i'm in love... sighing

Bruce in Tennessee said...

http://www.msnbc.msn.com/?ocid=MIE8MSNB

Take a gander at how "red" California has become...this is really amazing to me. Even Texas appears to have more democratic representatives now than California...

karen said...

http://www.minyanville.com/dailyfeed/san-francisco-bans-the-happy/

San Francisco has banned the Happy Meal as we know it. The LA Times reports:

“The ordinance would…require restaurants to provide fruits and vegetables with all meals for children that come with toys…Restaurants may include a toy with a meal if the food and drink combined contain fewer than 600 calories, and if less than 35% of the calories come from fat.”

Sadly, the current Happy Meal doesn’t make the cut. Which means no more toys.

Leftback said...

Of course I can't post at Macro Man like this, just think of the stick I would get over there....

karen said...

that is an amazing graphic! i love how you can shift thru the House, Senate, and Governors..

karen said...

HousingWire, Freddie Mac nonperforming assets grow 33% in 3Q, adds $6.8 billion in REO http://goo.gl/fb/ZxSjH

karen said...

gld on the 30 min is bizarre.. can't tell if that's a bad tick, or what?!

McFearless said...

that is a cool graphic, I didn't realize how many repubs got voted in, in Cali

buckle up folks, two years of wild starts now.

CV said...

@karen (11:51)

More LIBERALS ordering their populace to BEHAVE IN THE PRE-PRESCRIBED MANNER...

How comical is that?

CV said...

@McF

The only thing I'm kind of excited about is the idea that Bernanke ought to get his ass called up to testify on the Hill about every 10 seconds...

karen said...

James Grant on Bloomberg http://www.youtube.com/watch?v=HzwPRRnuU6E

CV said...

@karen

There are more BAD TICKS on all of these tapes than in the woods around Bruces or Nics houses...

CV said...

on that graphic...

Manchin... The West Virginia senator elect... was voted in to finish the term of Byrd...

So keep in mind that that seat will be up in 2012 as well...

Manchin is going to have to side AGAINST most of the democrats as a good deal of WVians are against cap & trade...

karen said...

Gold (GLD) and Silver (SLV) Tank as Someone that Does Not Rhyme with Foldman Machs Front Runs the Fed
http://www.fundmymutualfund.com/2010/11/gold-gld-and-silver-slv-tank-as-someone.html

CV said...

@McF

Is this looking like a 5 down to you?

Jennifer said...

I live around the corner from the guy in charge of Happy Meal toys. When there are good ones (seriously? People think there are good ones? I throw them away before I give my kids the food...if you can call that food...) but, when there are toys that come in sets, and some kids in the 'hood didn't get the full set, moms I know will actually hit this guy up for the missing piece of the set. They give out the "best" of the happy meal toys as halloween treats. Oh, and they just build a 3rd bay for their garage, a fancy patio, and a huge outdoor kitchen.

Jennifer said...

Karen -- that strange tick is on all the time frames. On the 5 min it goes right to the 200. It screams "get me out -- but at a better price!" to me.

karen said...

Jenn, i am watching GLD on 10 min now.. the 60 min seems to say it needs another big red down candle to me.. but we will see..

Bruce in Tennessee said...

Been an interesting year here at the salt mine. My brother, the brain, just sold his home in Los Altos, and is moving in with us for a few months while they find what they want here in East Tennessee. His wife finally convinced him it was time to leave Ca.

Sold his house in 72 hours for the asking price. Uh, that would not happen here......frankly I am Delighted they are coming. I may make a mountain man out of him...

karen said...

Bruce, that is great news.. it should make for fun holidays as well! but, the real brain might be your brother's wife : )

CV said...

Behind every great man stands a woman...

Telling him that he's WRONG!

karen said...

LB, this is something you could grasp better than I: A Detailed View At The Maturity And Duration Distribution Of US Treasurys, And How The Fed Has Found Itself In Another Catch 22

http://www.zerohedge.com/article/detailed-view-maturity-and-duration-distribution-us-treasurys-and-how-fed-has-found-itself-a

CV said...

MGM studio files for bankruptcy

http://news.yahoo.com/s/nm/20101103/media_nm/us_mgm

spoonman said...

"Whenever you find yourself on the side of the majority, it's time to pause and reflect."

--Mark Twain

I'm happy to report that all of my votes were cast in a losing cause.

Leftback said...

Hi, Karen.... :-)

spoonman said...

I take that back, my State Treasurer won, but nobody cares.

karen said...

mrtopstep

[11:38:53 AM]: SEC vote unanimoulsy to ban customers from "naked access to exchanges" that will slow down the high freq. guys wont it????

McFearless said...

"Is this looking like a 5 down to you?"

C,
no, not really, and at this point I'm not willing to call anything a five on a daily, I need to see confirmation at larger degree than that.

Bruce in Tennessee said...

Well, there are some people I wouldn't want to EVER see naked on an exchange...Buffett comes immediately to mind..

Leftback said...

SEC vote to ban customers from "naked access to exchanges"

Karen, we want you to continue to have naked access, and access while wearing only a bikini, or really really tiny panties.

karen said...

On Wednesday 3rd November 2010, @mrtopstep said:

Chatter [11:42:37 AM]: word spreading of a Bernanke press conference after the Fed decisions......apparently it was posted somewhere then retracted....Fed has neither confirmed nor denied.....15 years ago they didnt even annoucne rate changes....love this market.
also, Doug Kass was floating the after announcement conference call...the great HOAX continues.

Bruce in Tennessee said...

Lefty,

If you'd been a sailor I'm afraid you'd have spent all your money whenever you got shore leave....and not on good food...

McFearless said...

how big of an impact is that though, it's not like we really know how much they operate in the dark pools I've seen really big claims and others that say that isn't true, I certainly don't know.

McFearless said...

I guess my point is, the SEC never does anything to harm money interests.

CV said...

"SEC vote unanimoulsy to ban customers from "naked access to exchanges"

---

I think they must be misreporting that... It was meant to read...

"SEC vote unanimously to access & view naked pornstars exchanging favors on the internet..."

There... fixed it...

McFearless said...

I got a big pdf from BlackRock today with their thoughts on the elections, investment impact etc.

If any of you want it let me know, I will forward it out.

karen said...

my son just emailed this to me saying, this one did it for him..

http://wbmh.blogspot.com/2010/11/country-music.html

karen said...

wow, is this honest, or what?! tradefast

dropped $20K this morning, up $13K this afternoon - net loss of $7K with lots of chips still on the table... (don't do what i do)

karen said...

Ben, I would like that please..

CV said...

I'm still LMAO over the final paragraphs in Ritzy's 12th hour "laments" about the Obama failures last night...

To wit:

"But as far as I am concerned, those are secondary political issues. To me, his presidency began its fatal downward spiral once he allowed Robert Rubin to determine his initial financial appointments. By passing over more pragmatic candidates not tied to banks and Wall Street, the president missed his opportunity to rise to greatness.

The opportunity existed to get the renegade banks under control — to reduce their leverage, their recklessness, and to get their hands out of the taxpayers pockets.

That opportunity was squandered, and Obama ended up as a defender of the banking status quo. It is where his presidency could have achieved lasting greatness, and instead was turned into just another elected official, who over promised and under delivered...

---

Great... Thanks for that ALL WISE & KNOWING BR...

But let me ask you something... How is is that most Americans KNEW ABSOLUTELY ZILCH about "candidate" Obama yet were so quick to jump on board the train?

I mean isn't this a little like CV being the owner of an NFL franchize and then asking karen (no offense karen - just need you as the metaphor here) to come in and be the head coach?

So she comes in, no playbook, no idea about salary caps, personnel, gameplanning, hiring a staff... NADA...

Then I lament two years later on her "missed chance" as a coach...

BLAME YOURSELF BR... Not Obama... it was YOU that made the poor choice...

karen said...

CV, you are forgetting who we were voting against by voting for Obama. I would take Obama over McCain/Palin any day.. all over again, btw..

karen said...

what is our Potus saying on television right now that is dollar negative? anyone read McHugh's imaginary conversation between the big O and big B?

http://www.ritholtz.com/blog/2010/11/mr-bernankes-early-morning-phone-call/

karen said...

mrtopstep

New Video: FOMC Back and Fill http://mrtopstep.com/?p=1126

CV said...

@karen (1:10)

I'm sorry but you are WRONG there...

I did not vote for McCain/Palin or Obama... I wrote in a candidate...

Every American has a right to do such... Instead, most are unthinking herds... Incapable of moving their small minds beyond the SALISBURY STEAK or CHICKEN FRIED STEAK platters which they find in front of their faces...

McFearless said...

while I'm not an Obama history expert, if one had considered his general background prior to being president, wasn't this the exact outcome they should have objectively expected?

Certainly it might have been just as bad, maybe worse with McCain....and dont' get me started on Palin, but we are no more certain of that than we are of Obama's presidency being a success had he stood up to the banks.

I'd argue, just based on what's normally happened regarding social mood and the president, had he been elected and instead did what Barry says, the banks would have collapsed, they were insolvent, things would have been even worse, for a time,... and the public would have blamed him all the same.

If your response to me is that they wouldn't have because Bush was still fresh enough and would have been held accountable and not Obama, I'd ask you back

did you miss what happened last night?

people have short memories, or none when they act on emotion.

karen said...

brian says"we are in no man's land.. who knows.." he not very enthusiastic, LOL.. "so from this point on sideways.." He is CUTE!

CV.. in the republican primary I voted for Ron Paul.. : P

Bruce in Tennessee said...

From ZH:

"Russia has excluded debt-saddled Ireland and Spain from the list of countries whose securities can be used as investment targets for Russia's sovereign wealth funds, the Finance Ministry said on Wednesday."

...this could get interesting in a very short period of time...

karen said...

Bruce, I know, I know! and we thot 2008 was the perfect storm..

karen said...

since we seem to be going nowhere fast.. i'll try to sneak off for 15 min.. you know what to do, sext me if all hell breaks loose!

CV said...

@karen

You should have followed thru with your instincts then...

"Settling" for the chicken fried steak won't make you happy... Better to tough it out and go hungry for a day...

Bruce in Tennessee said...

Ben,

I think the US is just not ready for the kind of government oversight of the individual that Obama desires. But as I wrote early this morning, I am not exactly sure what the elections will cause to come to pass. I suppose we'll just see. I will always wear a fiscal conservative's hat...

McFearless said...

Bruce,
in general I agree, people don't want big brother watching every move, they don't want anyone telling them how and what and where to spend their money either.

that said, another terrorist attack and mood will demand exactly this authoritarian oversight, people later on will blame the government for its intrusiveness when it was them that demanded more of the oversight.

but you know how I am, social mooder and all, it's the way I see the world.

Bruce in Tennessee said...

I think O's press conference is going on...we are about to open the mine, so I'll have to catch the recap...

CV said...

@BinT

Well... correct me if I'm wrong...

But legislating HAPPY MEALS wasn't one of the ideals that the Constitution was founded on (I don't think)...

karen said...

I'm back.. see that i missed a lot.. a lot of tweets that is.. oh, and $85 crude.. just great.

karen said...

dollar at low of day.. i see where this is going.. getting ready for the cha-cha-cha as Jeff Cooper calls it..

karen said...

BergenCapital

Events that can take the market lower that is not priced in: Ron Paul's subcommittee on Monetary Policy conducts a full audit of the FED

Jennifer said...

Karen -- re: fed audit: one can only hope.

Jennifer said...

On my way home from preschool I noticed 3 new "sell your gold here!!!" locations -- one of which is in a former mexican restaurant. Yeah, that's where I want to take my old jewelry.

AmenRa said...

Karen

I was wondering when that was going to get mentioned. Ron Paul heading that committee probably has the Fed making calls already.

karen said...

well, i posted that the other day!!! (sorry, our ben has me frustrated today : )

Bruce in Tennessee said...

Agreed CV, but San Francisco was occupied by aliens from Alpha Centauri years ago...

AmenRa said...

One minute charts show traders running for the exit....

I-Man said...

Blue pill or red pill, Mr Bernanke?

CV said...

@I-Man

BLED pill (as always)

karen said...

$600 B QE2

McFearless said...

what about a gold pill?

CV said...

@karen

Must have been a "rounding" error...

karen said...

UUP saw 22.. new 52 week low..

Bruce in Tennessee said...

Somebody's not expecting much new money, I see...

Is that you selling, lb?

karen said...

zerohedge

FOMC Announcement: $600 Billion, $75 Billion/Month http://bit.ly/cCS2

McFearless said...

I gotta say, sad as it is, I'm on the edge of my chair right now.

CV said...

Was that QE2a...QE2b...QE2b1... QE2b1a...

Bruce in Tennessee said...

Ah, 'twas but a scratch...

CV said...

Bucky at a new low...

CV said...

oops... sorry karen... missed your comment... I was just stoking the fire by burning all my $1000 dollar bills...

Jennifer said...

Can we sell off now?

Jennifer said...

I really miss the days when we had an interest rate. I had some nice bread and butter rate change trades then.

karen said...

http://www.businessinsider.com/full-text-fed-qe2-2010-11

full fed statement

Bruce in Tennessee said...

Red, green, red, green...hmmmmm..


?dramamine?

karen said...

pls look at spx 30 min candle!!!

CV said...

I'm shocked SHOCKED! that this is a "sell the news" event (rolls eyes)...

AmenRa said...

Make sure you read the attachment at the end of the FOMC statement...


Relaxed the 35% limit of SOMA purchases so actual monthly amount allocated to purchases is $110 billion.

karen said...

great site!

http://datasuite.cmegroup.com/dataSuite.html?template=fut&productCode=CL&exchange=XNYM&strategyType=SP&selected_tab=energy

McFearless said...

wow, all the charts are nutso

TLT
DZZ
UUP and on and on

karen said...

i'm excited about TBT...

karen said...

the percentages are so tight.. algos trading.. nothing to do but watch it unfold..

CV said...

Last 60 min. candle on UUP is interesting...

karen said...

the euro says the dollar is trash..

AmenRa said...

He he. Stops getting blown out in both directions. Pass the popcorn.

Bruce in Tennessee said...

http://finance.yahoo.com/news/Obama-Gives-His-First-Spin-On-siliconalley-741478949.html?x=0&sec=topStories&pos=3&asset=&ccode=

Obama Gives His First Spin On Last Night's Disaster


Q&A time:


Q1: Are you willing to concede that this was a fundamental rejection of your agenda, and not just about the economy?


Obama: There's no doubt that the economy was people's #1 frustration... we've made progress but people aren't feeling it.... the message from the voters is work harder, and focus completely on jobs and the economy. "There's no doubt that as I reflect on the result of the election, that I've got a better job."


Q2: Do you regret any specific policy discussions, and is it possible that you just don't get it?


Obama: Not much of an answer at all on this one.


Q3: Healthcare, what's up now?


Obama: Rambling answer, though he does say that there's a provision in healthcare reform to burdensome for small businesses, that maybe the government could take a look at.


Q4: Do you accept that any kind of spending is dead?


Obama: No real answer, but he doesn't want to cut from important investments. Another priority.. making sure taxes don't go up.


Q5: Will you compromise on anything?


Obama: Something about energy policy. Let's find areas where we can agree.


Q6: What does it feel like to get smacked so hard?


Obama: It feels bad to see such good public servants lose their jobs.


Q7: Something about cap & trade and compromise etc...


........... lot of rambling


Obama: Tax cuts alone won't do it....


....I don't think it has sunk in yet........

karen said...

gld 60 min candles look like spx candles look like indu candles look like naz candles.. only computers can correlate EVERYTHING ACROSS THE BOARD..

i hope the bond market gets its mojo back.

Colin said...

30 year getting taken to the woodshed in the most orderly fashion I've ever seen, there aren't even upticks.

CV said...

The algos are busy parsing the Fed statement (which had already been highly broadcast and factored in)...

The DOWN part comes when they start factoring in Ron Paul...

Leftback said...

$600B was exactly what LB predicted.

CV said...

I'm pretty sure Wanger is "top" and "bottoming" all of these ticks...

Leftback said...

BUCKY had a FLASH CRASH today...

karen said...

LOL! EddyElfenbein

Let's add some context. The 30-year is back where it was on Thursday. $$

karen said...

But i will say.. TBT is still in its uptrend.. no breakdown there..

karen said...

gld touched its 34 ema AGAIN.. holding for 2nd week in a row at that line..

karen said...

new new new new new low in VXX ..
$vix sub $20.. total conviction FED..

karen said...

http://www.newyorkfed.org/markets/opolicy/operating_policy_101103.html

Leftback said...

What a lot of nonsense.

Now we are pretty much without catalysts for the near future. Back to trading bonds based on jobs numbers and future future Fed expectations.

karen said...

zerohedge

InTrade already taking odds on size of QE3. starting bid: $100 trillion

McFearless said...

oh brother, should have known the same day QE2 is announced, which btw, nobody has understood al the details yet, in 30 minutes, that people would already discuss QE3

more GIB I guess.

karen said...

ben, didn't you and I chat a while ago about uup having 22 on it?? maybe we truly have a dbl bottom now.. took 12 months to make that round trip..

AmenRa said...

Maybe it wasn't "sell the news" but SELL 1200.

karen said...

new eem high, tho ech (red) is not participating.. nor ewz much..

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