Congratulations to the Egyptians who managed to oust Hosni Mubarak this week. Now comes the really hard part....
Developing a democracy from scratch is a difficult and messy process. Given that Egypt is the most populous nation in the Middle East, the eyes of the world will continue to be watching them.
In terms of markets, who knew that the Dollar and S&P 500 could both rally at the same time?
The DXY chart continues to look constructive, with a possible triggering of the Head and Shoulder pattern we identified last week. 78.32 looks to be the neckline--it would be nice for bulls to see that level hold and keep trucking higher.
Attached below is an S&P 500 short term update. I put a lot of various commentary in the report, so I won't repeat it here. Please read it.
Also, if you happen to NOT be a follower of English Premier Football, I encourage you to see this YouTube clip from this weekend. This is Wayne Rooney with a bicycle kick to beat Manchester City, 2-1. I'm not allowed to "embed" the file, but it's one of the sickest goals this year.....
This is one of the reasons I've become a "fan" of the English football:
144 comments:
7 1/2 pounds of perfect grandson....only one abnomality...his junk was so large it took two days to do his circumcision...(inherited..............)
...30k People die yearly in the UK from cold? Surely that can't be right.
abnormality he typed...
Congratulations Bruce!
Thanks, Andy...catching up. So many interesting things in Memphis (where my daughter lives)..really life-changing things going on in West Tennessee. And from my standpoint, few will turn out positive...
MAN U- American owned and operated...
Andy T, this work is most excellent
Congrats Bruce!
Thanks for the charts Andy. Maybe we'll get a turn when a daily 3LB reversal and confirmation appear.
Anon@9.25PM:
Ugh. Can't believe it....you mean to tell me LOUSY greedy 'cains are backing Man Utd!?!
The shame! I thot all we exported was greed and evil?
@Ra. One of the big takeaways from Neely's work is you require "confirmation" of an end, which means that you need to see a decent counter-trend move first....Which is probably akin to a 3LB reversal.
Andy T
True to a point. Since I use options with a 10% trailing stop when I get stopped out the move was pretty significant. That's usually happens with a close below the daily 3LB mid or reversal.
Example: after a reversal down as long as prices trade lower than the reversal close then that can be viewed as confirmation. BUT until it closes lower the confirmation is not official. So one can trade with the knowledge that if it doesn't confirm then get out and come back another day.
A doctor coming to the end of his career waked into a leather shop. He had specilized in circumcision, and had saved all of the left over skin. He wanted to know if the shop keep come make something useful out of the skin.
The shop told the doc to come back in a week.
When the doc came back he was presented with a wallet. The doc was very confused, "that was a lot of skin that I gave you and this is all you can come up with?"
"It's a wallet right now, but rub it for a minute and it turns into a suitcase."
OT: Tiger Woods.
This guy cannot close a tournament anymore..
How many times has he wilted into the weekend?
Geez.
http://www.golf.com/golf/tours_news/article/0,28136,2048820,00.html
That goal was neat, but they probably gave him too much room, allowed him to take his time even after the minor deflection and the goalie just stood rooted. City has spent too much this year and not much to show for it.
In other news, LB's fav Liverpool continues to disappoint having drawn with, who's that, Wigan.
Prashant
Portugal fourth-quarter GDP slips 0.3%
5:36 am ET 02/14/2011 - MarketWatch Pulse News Bullet
MADRID (MarketWatch) -- Portugal's gross domestic product fell 0.3% in the fourth quarter of 2010 from a gain of 0.2% in the third quarter, the first quarterly drop in a year, the country's Institute of National Statistics said Monday. On an annual basis, GDP rose 1.2% against a rise of 1.3% in the third quarter. Third-quarter data were revised to show a downward revision of 0.1 percentage points for annual data and quarterly data. The agency said exports remained strong in the fourth quarter, and the motor vehicle industry also showed growth, but household spending decelerated
..You realize of course that this is our future too. Borrowing against the future works until payback time, and then it doesn't.
I've been thinging about cars too. I think the Japanese have a really big lead on us, and that we are thinking about this wrong again. The Volt? Too expensive and the Prius is more than 10 grand less expensive and the Japanese have been the leaders in this technology for years.
Unless they are stupid, and I wouldn't count on that, they will integrate battery and hybrid technology into larger cars and trucks faster and better than I imagine we will.
http://finance.yahoo.com/news/Clothing-prices-to-rise-10-apf-3665134256.html?x=0&sec=topStories&pos=main&asset=&ccode=
NEW YORK (AP) -- The era of falling clothing prices is ending.
Clothing prices have dropped for a decade as tame inflation and cheap overseas labor helped hold down costs. Retailers and clothing makers cut frills and experimented with fabric blends to cut prices during the recession.
But as the world economy recovers and demand for goods rises, a surge in labor and raw materials costs is squeezing retailers and manufacturers who have run out of ways to pare costs.
...PPI into CPI...Greenspan I and II will find out again what artifically low interest rates do. It reminds me of the line in Patton where one guy refers to Patton as old blood and guts. His buddy replies," Our blood, his guts." Same idea...
The Man..Hussman:
This Week:
Rich Valuations and Poor Market Returns
We should not deserve to be called "investors" if we fail to recognize that valuations are richer today than at any point in history, save for the few months before the 1929 crash, and a bubble period that has been rewarded by zero total return for the S&P 500 since 2000. Indeed, the stock market has lagged the return on low-yielding Treasury bills since August 1998.
http://www.nytimes.com/2011/02/13/business/13every.html?_r=3&adxnnl=1&ref=business&adxnnlx=1297685023-g9kU+4PEX7Ik2jeteGA8fQ
When Factories Vanish, So Can Innovators
“The big debate today is whether we can continue to be competitive in R&D when we are not making the stuff that we innovate,” she says. “I think not; the two can’t be separated.”
http://online.wsj.com/article/SB10001424052748704657104576142122744337858.html?mod=rss_whats_news_us
"President Barack Obama's 2012 budget proposal projects this year's deficit will reach $1.6 trillion, the largest on record, as December's tax-cut deal begins to reduce federal revenues, a senior Democrat said Sunday.
The new forecast is larger than the $1.48 trillion deficit projected last month by the Congressional Budget Office, Congress's nonpartisan scorekeeper, and up from last year's $1.3 trillion shortfall."
I'll let Andy's post continue on as "Morning Corner". I'm drawing a blank right now.
“I think not; the two can’t be separated.”
no kidding.
"Manufacturing" does more than 'make things', it is, itself, a Laboratory for it's own kind of Scientists--Engineers..
~~~
U$D 1.6 Tr. , we should remember when the whole Budget was less than that..
and, no, it wasn't 192x..try 199x..
~~
Bruce,
good going on the new young'un~
AAIP
Amen:
Your posts about how you decide your trading strategy are a good read. Keep them coming!
My money in 2011 is on the Irish...I think they will be the removers of the rose colored glasses..
Then markets will adjust.
Bruce
It's not so much the Irish elections but what they decide to do about their debt after the elections that matter.
there are so many tablets coming out- from all angles, all on Android . . .
that Apple moat looking more and more to be breached
check this out- dude can throw a football
http://www.youtube.com/watch?v=s0WMd0Y6hIw
some investment advice:
"Professors at Texas A&M and Ohio State universities concluded that following contrarian investors is more profitable for stocks in which analysts and short sellers strongly disagree"
the trade:
"buy if short interest is low and the analyst consensus is to sell; sell short if short interest is high and the analyst consensus is to buy."
ahab
Sounds like they are saying analysts are FOS and shouldn't be followed.
Andy T
DXY currently above its weekly 3LB mid (78.60). But it's Monday. Friday is a long way off. If it can stay above the mid during the week then the direction has changed.
This is how I anticipate weekly 3LB reversals.
Ra-
your premise is basically correct. From the article:
"For the most part Wall Street analysts are just cheerleaders, so they kind of go with the flow and if the stock is trending higher they raise their price targets and say good things . . .
the increased risk taken by short sellers with their own capital makes them more active in rooting out potential problems in a company.
http://uk.reuters.com/article/2011/02/10/shortsellers-study-idUKN1025073820110210
Happy Valentine's Day, all !!
NFLX (don't look!)
BloombergNow
Gross Cuts Government Holdings to Lowest Since 2009 http://bloom.bg/hC1caH
ahab
Also from the article:
" "It's very easy to take shots at the sell side isn't any good at picking stocks -- I would suggest that isn't what the sell-side gets paid for," he said.
"The sell-side research value-add is to be an unequivocal expert in the subject matter, to have unrivaled access to information sources that you then provide a high quality, relevant, thought-provoking filter to the buy-side."
That last part funny. If they are "experts" then they would/should know if their valuations are BS.
karen
...no special avatar for today?
The market will get to 1333.58 (up 100% from low) come hell or high water. What happens next is the big question.
Feeling sick and thinking this will be a good day to do brainless paperwork projects. Will keep half an eye on Mr Market.
My thought on the Irish elections is that investors will not wait for the new FG/Labour/SF government to announce its intent to change their policy from infinite bank bailouts to debt-to-equity conversion.
They will sell. This will be a bullish event for bunds, Treasuries and gilts. Haircuts always produce a FTQ.
Note the 1-month T-bill at 5 or 6 bps. Someone parking cash.
re: irish elections
"It's not so much the Irish elections but what they decide to do about their debt after the elections that matter." precisely.
put the question to a recent immigrant irish retiree whose sister is active in irish politics, "if irish voters vote out the gov't, will the new coalition have the bollox to follow thru and do an iceland?"
she' going to ask her sister what the feeling about that is in the irish street.
Ye little bollix. To be sure, they do.
Crude Oil 90.08 +0.95 +1.07
Natural Gas 4.052 0.000 0.00
Corn 717.25 +7.75 +1.08
Soybeans 1429.00 -16.25 -1.14
30yr Bond 118.78125 +0.37500 +0.32
10yr Note 118.4375 -0.0625 -0.05
NY Gold 1365.2 +4.8 +0.35
NY Silver 30.535 +0.540 +1.81
http://www.ino.com/
89.78 +0.32 (+0.36%)
http://quotes.ino.com/chart/?s=PACF_TLT
AAIP
http://www.bloomberg.com/news/2011-02-14/geithner-quietly-tells-obama-debt-to-gnp-cost-poised-to-increase-to-record.html
Geithner Tells Obama Debt Expense to Increase to Record
"Barack Obama may lose the advantage of low borrowing costs as the U.S. Treasury Department says what it pays to service the national debt is poised to triple amid record budget deficits."
...Well, a triple isn't as good as a home run, but it is still pretty good isn't it?
The market is not doing anything. My mind keeps wandering. Did notice that JNK, HYG, LQD are higher. IQI and MUB are lower since BAB is an example of dead man walking. Oh silver is pushing higher. Eventually Comex will not be able to make delivery.
Frankly Amen, looking over the stories and the markets today, I am fairly disappointed that no one in the business MSM talked about how little Obama's budget plan did to reduce the deficit. 1.1 trillion over a decade? Pop gun for an elephant..
Momo Monday a bit slow to start this week. Market getting tired. The entire bond complex is up except for munis. That's about right.
We are still hedged F/I into the PPI. Here comes the POMO....
Bruce
I did hear how keeping spending at current levels locks in the budget increases from the last few years. So it "looks" like a reduction but it isn't. No major spending cuts in 1000 pages. He would have been better off by sending out a pdf file instead of wasting all that paper at the Gov Printing Ofc.
Hey Lefty,
Did you buy anyone flowers today? You can tell the rest of us, as it looks like Karen is AWOL...
The market has me stupefied, dumbstruck and struck dumb.
I can only think this is the consolidation/back-n-fill before the next surge higher..
playing around with stock charts over the weekend...
SPY:FXE
SPY:FXA
SPY:FXY
TLT:FXE
TLT:FXA
TLT:FXY
$TED
spikes like this have been early warning signs at both the peak in 2007 and nearing the April 2010 peak.
if that isn't a dbl top in $tran.. it is going to breakout like everything else.. see $rut today?
that $ted was interesting but on a muli-year chart it doesn't seem very alarming..
Libor also SLOWLY rising...
http://www.bloomberg.com/apps/quote?ticker=US0003M:IND
Also trying to follow the WestLB story.
http://www.ft.com/cms/s/0/2201de3c-3618-11e0-9b3b-00144feabdc0.html#axzz1Dx8AKGA6
They were, if I am remembering correctly, the first big bank explicitly guaranteed by a national government, may of 08 maybe...
I think Libor and ted are detecting some anxiety about banks exposure to Ireland. This is clearly the next major headache on the horizon.
Taken together with 1-mo bills, it is worth keeping an eye on.
Well, Lefty, it looks like the eye that got the sharp stick in it is healing up nicely today...very nicely done..although I betcha it was hard to drive home at night with those sweaty palms...
Portugal in deflation:
http://www.bloomberg.com/news/2011-02-14/portugal-s-fourth-quarter-gdp-shrinks-0-3-from-third-quarter.html?t=CF-OK&pos=3
The muni exodus is continuing:
http://www.bloomberg.com/news/2011-02-11/muni-fund-investors-pull-1-2-billion-in-13th-week-of-outflows.html
Munis will be sold until risk is compensated with realistic yields.
Then there will be that first big default/restructuring event.
Pull up a chair, this one's just getting started.
Thanks Vin Scully.
Why is Westlb, a seemingly "quiet" bank, in the middle of so much $hit?
The EUR drop is being attributed to IE, but Westlb is under a deadline of the 15 to find a buyer...
Their name pops up a lot in relation to LIBOR up, and EUR down.
Business Insider - Now Doug Kass Is Spreading Rumors About John Paulson Dumping His Gold http://read.bi/ekyQsT
do these folks read this blog? lol! no.. it was probably just too obvious.
Mr Top Step
New Charts: Mr. TopStep Charts "DJ TRANS Making a 2XTOP?" http://mrtopstep.com/?p=247
Why is Westlb, a seemingly "quiet" bank,
The Europeans have been even less open than the US about the true condition of bank balance sheets. Unlike the huge TBTF/small bank dichotomy here, the banking system there has few minnows. So closing minnows isn't an option, the whole bloody thing has to be kept afloat.
okay, i feel a little less hungover after that omelet..
Macro Man blog on hiatus. More blog exhaustion.....
Keith McCullough
the Muni debate is fun (Faber is having it @CNBC now), but very few firms have traded the risk in $MUB well; we re-shorted $MUB on Friday
I saw the picture of MM on vacation...it appears he is limited to his back yard this year...
...They say Tehran is nice this time of year...
darling foto of the children
mini rev h&s on today's ten min $indu
...come hell or high water
More on the Irish bank cesspool:
http://www.nakedcapitalism.com/2011/02/irish-bond-haircuts-too-little-too-late.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+NakedCapitalism+%28naked+capitalism%29\
This really is an unmitigated disaster.
Can't fight de power....
Didn't know Sack was a Rasta...
Where the I- at?
Wonderful piece of writing here. I have been waiting for someone to point out the similarities between Mubarak and our elite. I mean, in what way are Blankfein's billions any more justified than Mubarak's?
http://www.nakedcapitalism.com/2011/02/matt-stoller-the-egyptian-labor-uprising-against-rubinites.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+NakedCapitalism+%28naked+capitalism%29
I predict we will see a youth-led movement against the banking elites in this country before the end of the decade. Let's all congregate peacefully outside West Street... uh oh, here come the tanks.
I am a businessman, not a dictator.
Depends who you ask...
More on the Irish bank cesspool-
One comment claimed that only 21 billion would/could be subject to a haircut.
new 52 week high in AMZN.. yeah, let's buy some here..
Something big about to go down...
Major size flexing around on the YM...
re: $ted
need to look at the correction periods mentioned, the fractals get lost in a multi-year view, among other similarities.
re: $tran
maybe it's a double top, but considering you could argue two distinct patterns came out of that rounded bottom
a potential inverse H&S as well as the breakout of a symmetrical triangle
I wouldn't go jumping the gun on a double top when a triple top could still occur and nothing has been confirmed to the downside
there wasn't a lot of volume on the breakout of either pattern, but thats relative
there hasn't been a lot of volume on any breakout since the H&S failure from summer 2009 outside of the short term volume spike in last springs decline
note: many people were arguing two weeks ago that $tran non-confirmation with the dow was bearish, this was biased chart reading.
Agreed Lefty. Even if the younger generation didn't revolt, it is unfair for those that have benefited so much from the decades of easy credit to not start the payback immediately. Actually, I am a little suprised the President hasn't shifted to this position. He knows this much debt is not viable, why not take the populist view on debt reduction than on government spending. (Yeah, I know that)...but the time of debt repudiation is here and now.
Ireland now rated junk by Moody's. It's ready to blow.
Don't trade US market. Just watch. EEM can't get up....
China and EMs will be ripe for re-shorting very soon.
Bruce,
It is complicated. Not all of the boomer generation were debt bingers. It's shocking how little penalty there has been for the worst behavior while the savers have been penalized at every turn.
If and when the older debt-free savers and young people can visualize their common goals and pool their resources they can eventually do an Egypt and overthrow the corrupt financial system. Then we will have to decide what to do with the debt zombies and the banksters, but it will be a great day for America.
1350 (any bets on these odds?)
...1341
1332 (i can see you)
...1323
1314 (dip buy on the 10th, weeee)
...1305
1296 (been there, done that, to many times)
...1287
1278 (this is soo last month)
Pimco's Executive VP Rodosky sees risk of a long-term Treasury bear market
Momo Monday postponed until Tutu Tuesday.
Nouriel Roubini
Portugal on verge of losing market access; Irish bailout in trouble; WestLB rescue in trouble. So much for Eurozone crisis being contained
look at SPY on a thirty min chart..
Crude Oil 89.35 +0.22 +0.25
Natural Gas 4.036 -0.016 -0.40
Corn 711.00 -6.25 -0.87
Soybeans 1423.0 -6.0 -0.42
30yr Bond 118.93750 +0.53125 +0.45
10yr Note 118.671875 +0.171875 +0.14
NY Gold 1364.8 +4.4 +0.32
NY Silver 30.490 +0.495 +1.66
Forex & Bonds Last Change Change %
EUR/USD 1.3463 -0.0085 -0.63%
USD/JPY 83.33 -0.05 -0.06%
GBP/USD 1.5996 -0.0003 -0.02%
5-Year Treasury 2.346 -0.018 -0.76%
10-Year Treasury 3.616 -0.03 -0.82%
30-Year Treasury 4.66 -0.053 -1.12%
http://finviz.com
karen said...
look at SPY on a thirty min chart..
Stairway to Heaven!
ha ha ha.. that wasn't what i was inferring!
Earthquake...
http://earthquake.usgs.gov/earthquakes/recenteqsww/Quakes/uw02141835.html
And not in Karen's hood!
Karen -- my hangover is much better after half of a large heart shaped reeses peanut butter cup.
School just called, middle daughter and her best friend head butted eachother in some playground fun and gave each other major black eyes. This should go very nicely with the swollen black n blue left hand she got at karate on Saturday, 2 fingers in splints now. How on earth am I supposed to make any money with this going on?
J-
you know, there are 'Military Schools'..
:)
AAIP
Jennifer.. sometimes you make me happy that i'm older than you!
oh my word! one more 30 min candle like that on the spy and i will slit my wrists!!
crude moving.. : )
...The Fressure branded products receive an extra step in the processing system. After the ground beef patties are packaged, the package is placed inside a pressure chamber, water is added around the exterior and the chamber is sealed. The chamber is programmed to increase the pressure to maximum desirable level and sustain it for a set period of time. The increased pressure alters the environment inside the package, making it difficult for spoilage microorganisms to survive. During this process, pressure is applied equally on all areas of a product so that neither the package nor the product is crushed. The chamber is decompressed and the products are removed and re-boxed for shipping.
The products are currently being manufactured by Cargill at its Columbus, Neb., meat processing facility...
http://www.foodbusinessnews.net/News/News%20Home/Business%20News/2011/2/Cargill%20introduces%20Fressure%20burgers.aspx
Watching this market today is worse than waiting for your GrandMa to get her hair done at the ole' lady beauty salon, ya know every town has one! :)
bizarre similarity in $tran and AMZN..
yes, every 22 seconds and another bit of boredom rears its sleep-inducing head...
High of day? I need to have a word with Giles.
this market is a nightmare.. really. amzn looks tame compared to some of the others but 167-191 in ten days? nflx, 180 to 247? lulu, 70-85?
how could i have missed those moves.. clearly this game is over my head.
High of day? I need to have a word with Giles.
It's ready. But this is not the day.
Wait until we can BLAME IRELAND.
The Irish general election of 2011 will take place on Friday, 25 February, to elect 165 Teachtaà Dála across 43 constituencies to Dáil Éireann, the lower house of Ireland's national parliament, the Oireachtas.
In the meantime, the machine is in reverse and having a moment with NFLX.
That's Dáil, pronounced "Doyle"....
None of us actually speaks Gaelic, you know.
I've just realized my initials are GS.
Don't get the wrong idea.
I'm looking to take a shot on the shortside... almost time...
Almost price.
In the meantime, the machine is in reverse and having a moment with NFLX.
Mondays are so all about pumping. Right, Karen?
The suction is usually later in the week. Thursday, for example.
Green is keen!
A nice sell-off could help offset all my urgent care co-pays. Of course, if I had just bought NFLX, I could buy my own doctor.
Jennifer, you are too funny!
I hope you had fun creating the hangover...mine is from Saturday. I'm too old for a 2 day hangover.
Say what you want but 100% up from the low is one hell of a resistance price. Every time it gets close a sell off ensues.
Karen and Jennifer
Drink plenty of water before going to bed. Works for me.
Amen, Ra.
Have yet to meet a hangover that could stand up to a big glass of H20 before bed.
Not enough air in the pocketa-pocketa machine...
C'mon... late day waterfall fi di I-Man...
amzn is a little different than lulu or nflx
could be a boradening top (very bearish) in the works there with AMZN, though there are very few stocks sporting a pattern like that
I can't believe nobody has brought this up:
http://www.sfgate.com/cgi-bin/article.cgi?f=%2Fg%2Fa%2F2011%2F02%2F14%2Fbenzinga857625.DTL
did all of you also not see his pathetic slideshow response to Mr. Greenlight where he used the same silly pictures several times with different lighting to "prove" he is right about St. Joe. Hmmm, take a look at this crack analysis:
http://dealbreaker.com/2011/02/bruce-berkowitz-offers-some-truths-about-st-joe/#
now there IS a double top on the JOE chart....
but everyone here is looking at effing NFLX!
Jennifer.. i'm laughing even harder! mine is already gone.. i attended a wine pairings dinner last night.. multiple courses in very small quantities.. except for the multiple wines in large quantities.. very healthy fare in all but i got to bed late..
AR.. ha! i'm just finishing my 30th ounce now.. another 30 to go : )
Stop teasing me!
You touch me then walk away, then you do it again! ... I'm frustrated!!
http://bnrg.cs.berkeley.edu/~randy/mitty.html
"WE'RE going through!" The Commander's voice was like thin ice breaking. He wore his full-dress uniform, with the heavily braided white cap pulled down rakishly over one cold gray eye. "We can't make it, sir. It's spoiling for a hurricane, if you ask me." "I'm not asking you, Lieutenant Berg," said the Commander. "Throw on the power lights! Rev her up to 8500! We're going through!" The pounding of the cylinders increased: ta-pocketa-pocketa-pocketa-pocketa-pocketa. The Commander stared at the ice forming on the pilot window. He walked over and twisted a row of complicated dials. "Switch on No. 8 auxiliary!" he shouted. "Switch on No. 8 auxiliary!" repeated Lieutenant Berg. "Full strength in No. 3 turret!" shouted the Commander. "Full strength in No. 3 turret!" The crew, bending to their various tasks in the huge, hurtling eight-engined Navy hydroplane, looked at each other and grinned. "The Old Man'll get us through," they said to one another. "The Old Man ain't afraid of hell!" . . .
In the operating room there were whispered introductions: "Dr. Remington, Dr. Mitty. Dr. Pritchard-Mitford, Dr. Mitty." "I've read your book on streptothricosis," said Pritchard-Mitford, shaking hands. "A brilliant performance, sir." "Thank you," said Walter Mitty. "Didn't know you were in the States, Mitty," grumbled Remington. "Coals to Newcastle, bringing Mitford and me up here for a tertiary." "You are very kind," said Mitty. A huge, complicated machine, connected to the operating table, with many tubes and wires, began at this moment to go pocketa-pocketa-pocketa. "The new anesthetizer is giving away!" shouted an intern. "There is no one in the East who knows how to fix it!" "Quiet, man!" said Mitty, in a low, cool voice. He sprang to the machine, which was now going pocketa-pocketa-queep-pocketa-queep . He began fingering delicately a row of glistening dials. "Give me a fountain pen!" he snapped. Someone handed him a fountain pen. He pulled a faulty piston out of the machine and inserted the pen in its place. "That will hold for ten minutes," he said. "Get on with the operation. A nurse hurried over and whispered to Renshaw, and Mitty saw the man turn pale. "Coreopsis has set in," said Renshaw nervously. "If you would take over, Mitty?" Mitty looked at him and at the craven figure of Benbow, who drank, and at the grave, uncertain faces of the two great specialists. "If you wish," he said. They slipped a white gown on him, he adjusted a mask and drew on thin gloves; nurses handed him shining . .
...Of course this is the basic idea that Giles machine comes from...all things are built on the shoulders of Giants that come before..back to the mine...
SPX 1332 said...
Stop teasing me!
You touch me then walk away, then you do it again! ... I'm frustrated!!
Karen, is that you...?
and here is some real analysis on JOE
http://www.marketfolly.com/2010/10/why-david-einhorn-is-short-st-joe-joe.html
EEM very weak again today.
is no one else freaked out about $copper??
http://www.bespokeinvest.com/thinkbig/2011/2/14/us-and-state-default-risk.html
1331.47 +2.32 (+0.17%)
http://quotes.ino.com/chart/?s=CME_INX
We Don't Need No Stink'n Copper!
Crude Oil 88.78 -0.35 -0.39
Natural Gas 4.061 +0.009 +0.22
Corn 706.50 -10.75 -1.50
Soybeans 1417.0 -12.0 -0.84
30yr Bond 118.84375 +0.43750 +0.37
10yr Note 118.625000 +0.125000 +0.11
NY Gold 1362.3 +1.9 +0.14
NY Silver 30.600 +0.605 +2.03
Extreme Futures
Symbol Last Change %
CBOT SOYBEAN 76.00 +5.75 +7.42
SOYBEAN CORN 2.106 +0.102 +5.09
COFFEE Mar 2.5865 +0.0670 +2.66
http://www.ino.com/
Yawn.....
I don't have a lot to say about bondzzzzzzzzzzzzzzz
I wanted more "fall"... less "water" talk.
It was good for 10.
Today was water torture..
Karen -- exactly! Now drink up!
MAR up 6% in ah on earnings..
LOL..
Of course they're selling em like hotcakes now on the YM...
Not fair!
Waaaaaaaaaaaa...............
I am glad I was doing something else....
The Bond Report 2.14.11
zzzzzzzzzzz......................
New thread
The bond report needs more drama--lipstick on the pig, if you will. I took the liberty of replacing some kardashian names from episode summaries to produce a Fox Network-worthy bond report:
When High Yield flirts with her personal trainer, the result is more than she asked for. IG, being the competitive person that she is, gets munis upset. Munis and foreign sovereigns face complications when deciding to make another baby.
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