The stats from the last several days are interesting...it appears that any additional spending the population is doing is because of higher food and energy.
And I note some of the big employers are already announcing getting rid of employees this summer.
Well if it's any help to anyone... When I used to travel back to the USA (from Italy & wherever) for all those years... Even though I never was bringing anything contraband into the country, I still didn't appreciate those airport searches...
So I took to packing suitcases with dirty socks & dirty laundry on top of everything with a plastic layer then under it which separated it from everything else...
The inspectors would open it up and then just say "aww-forget it!"...
So maybe y'all should take to living like "cat ladies"... Might not be too hard if you're all living off of catfood anyway...
conclusions toward the very bottom if you don't want to read the whole thing but the background information is helpful
I don't think cycles are dominant factors in markets but I'm def. keeping this one in mind
was thinking that if we are to rally all the way until then it appears you'll want to run with the sector rotation that appears underway by going with some utilities/REITS/Staples/Healthcare and then looking at leadership stocks in spaces like energy or tech that are in a correction within a larger uptrend
XOM might be an example of one of those energy stocks, that still appears to be forming a corrective triangle to me.
"How many years before the govt can enter your home unannounced for searches?"
They already can. They just have to say it was an accident (i.e., Oops, wrong house). If they happen to see something on their accidental search that gives probable cause, then they can go for a real warrant. This has recently been upheld in court.
In addition, they are able to do warrantless wiretaps (which, in this digital age, is a form of intrusion without court supervision) for both computing and telephony. Whatever is not officially legal (vis-a-vis domestic spying) can be done illegally and whistleblowers will be prosecuted (ironically) under the espionage act (see Thomas Drake case being prepared by the Obama administration).
Finally, the bar for getting a search warrant is extremely low. Combine that with the ability of the Feds to "shop" for lenient judges (i.e., if one judge is known for granting warrants leniently, all warrant requests will be routed through that judge).
Well now that Obama singlehandedly went in there with his own, meticulously thought up, tactical Navy Seal strike team... Shot OBL (in a humanitarian way - whereby no animals were harmed)... Then carefully & painstakingly used special choppers (to minimize air turbulence), rode him out to the India Ocean, wrapped the body in fine linen, anointed it with scented oils, frankensense, & myhrr, said the correct prayers, faced Mecca, and carefully slid the body into the quiet sea...
I suppose we OUGHT to take ourselves back to DEFCON 1...
I meant to say this yesterday, but never got around to it...
If you haven't figured it out yet... The laughable transformation of Barry Ritholtz from 'self proclaimed' LIBERTARIAN, to 'covert' FLAMING LIBERAL is all too obvious...
BR is of the money grubbing chosen tribe... He follows the money...
The "money" (a few years ago when things things were breaking down) was getting choked off (and there was no apparent safety net)...
So his LIBERTARIAN bent was based on 'wanting to frontrun & be right' on the call beforehand...
But instead, his tribesmen (Bernanke, Paulson, Blankfein, Dimon, Geithner, & company) all came together to collectively steal from the gentiles & enrich themselves... Which BR, I'm sure, wasn't all too unhappy about... Just needed to tweak the rhetoric...
Obama was the perfect 'useful idiot' for their purposes...
Anyway... fast forward... And the entire system... IF the can kicking manages to get minorly deflected into a better glidepath timeframe to their (the chosen ones) liking... Well, it's the Keynesian/Krugman endgame (with Obama playing the role of George Armstrong Custer)...
I'm sure BR will find a way to enrich himself in the process...
But the BOTTOM LINE is... Libertarian? Liberal?... Ha! I doubt BR even has a political bent (at least to any greater degree than the hook in his nose)...
---
Sorry if this POV was offensive to anyone... But OTOH... I refuse to be apologetical to ones who would DISMISS ME IN A NEW YORK MINUTE just because I didn't have the same DNA as their fellow tribesman...
Every once in a while, I just get tired of being the obvious 'whipping boy' of bias...
But then, based on what has come to have been accepted, in a world where people want to wear their political correctness as a badge of honor... For nothing more than the opportunity to NOT get into a debate about something, and appearing to "not fit in"... They withhold the silent treachary that they are being subjected to and bombarded with...
I'm NOT a NAZI... I'm NOT a KKK member... I'm not even an NRA member (and I don't own a gun)... I have a samurai sword tho...
At the same time...
I don't need to be reminded, EVERY SINGLE MARCH (come Oscars time), about the holocaust... I didn't persecute Jews, I didn't commit genocide... I WOULDN'T (even given the opportunity)...
I didn't profiteer in/or participate in SLAVE TRADE... I wouldn't (even given the opportunity)...
Furthermore...
I make NO ATTEMPTS to place those like me in high ranking positions:
- in banking - in government - in media
NOR do I:
- use affirmative action biases to my advantage (how could I)?
I'm not even a WOMAN... So that makes me a REAL s***!
---
All I ask is to take a break from the R-E-L-E-N-T-L-E-S-S 'correction' of white male dominance (globally)... & give me an 'effin break...
OK... I get it!!!!
The problems of humanity were CAUSED by WHITE MALE DOMINANCE (non-Jewish... to boot)...
But fuck me... I KNOW I never 'acted' in any way like that in my life... I NEVER EVEN DENIED THAT IT HAPPENED...
But don't turn your aggression on me...
I'm the subject of discrimination in today's society... I'll be happy as hell when it all BALANCES out... But CV is the profile that is swimming against the rip tide in this generation...
I was hired as house tour co-ordinator for Marilyn McCoo and Billy Davis' mgmt. co. stable of artists. I was asked if I minded being the only white guy on a tour...of course, no problem. Then Pop and Mavis Staples made it clear they weren't interested in a white honky road manager from Canada, no less. kinda stung at the time. ( No, I don't know what a Canuck is.)
So I did another tour with someone I'm too embarassed to admit to here, which found me at an American Song Festival in Saratoga, mulling over job offers,variously, from Etta James and the Pointer Sisters...who weren't too shy about pinching my ass at the time. All in good fun, of course.
On returning to L.A., Brenda Russell hits me up for a couple of hundred bucks to help with her rent. Last I heard, after a couple of hits...she was writing the music for Oprah's Broadway version of The Color Purple.
And so it goes.
Oh yeah...sprinkle a bit of sardonic between the lines here.
lol Ra, gotta think low volume today, so perhaps favors the bulls into the weekend, looks like it'll be a quiet open
ReplyDeleteben22
ReplyDeleteSame here. I think the bench squad is on the desk today.
yes, and the "Dow up xx.xx" is waay better 'Background Music' for the "Official Kick-off of Summer"...
ReplyDeletetend to think that things, Equity-wise/Index-wise will Close higher..
AAIP
Patriot Act getting exptended/expanded today if I'm not mistaken.
ReplyDeleteHow many years before the govt can enter your home unannounced for searches?
I'd say less than 10 at our current pace.
ben22
ReplyDeleteThat sounds about right. Pass/extend laws when the citizenry is not paying attention.
I'd also expect sound kind of announcement from China this weekend...
ReplyDeleteHow many years before the govt can enter your home unannounced for searches?
ReplyDeleteI'm still waiting for those healthcare legislation debates to get broadcast on C-SPAN...
Or am I too late?
What about posting everything on the White House web page 5 days before it gets handled...
All I've seen so far are Photoshop birth certificate jobs...
---
In any case, if you're looking at a 10 year timeframe for entering peoples homes unannounced for searches, it'll probably be too late...
They'll all be in cardboard boxes beneath the interstate by then...
Better check to see if the "new & improved" Patriot Act has a provision for cardboard box searches...
SPX 1314... 23rd, 24th, 25th and 26th support, draw the line,
ReplyDelete1332, eh,
we're there
we'll see
what happens...
Have a good weekend all,
traveling somewhere, anywhere
maybe Mt Shasta area
doing my part to stimulate the economy!
Prior Actual
ReplyDeletePending Home Sales - Level 94.1 81.9
Pending Home Sales - M/M 5.1 % -11.6%
The stats from the last several days are interesting...it appears that any additional spending the population is doing is because of higher food and energy.
ReplyDeleteAnd I note some of the big employers are already announcing getting rid of employees this summer.
Oh, to be Uncle Tepper...
Friend works at Ricoh -- 10K employees laid off yesterday.
ReplyDeleteRicoh???
ReplyDeleteDon't they do PRINTERS???
Must be because of the end of QE2...
Expect them all to be called back to work on July 1st...
Patriot Act...
ReplyDelete4 more years....that's Hope and Change.
it's just to keep us all safe guys....
ReplyDeletethough it appears more like CV's ropes and chains to me
Liberty Bitchez!
10,000 people laid off?!?
ReplyDeleteThat's a big number.
Liberty Bitchez!
ReplyDeleteWell if it's any help to anyone... When I used to travel back to the USA (from Italy & wherever) for all those years... Even though I never was bringing anything contraband into the country, I still didn't appreciate those airport searches...
So I took to packing suitcases with dirty socks & dirty laundry on top of everything with a plastic layer then under it which separated it from everything else...
The inspectors would open it up and then just say "aww-forget it!"...
So maybe y'all should take to living like "cat ladies"... Might not be too hard if you're all living off of catfood anyway...
Bruce,
ReplyDeleteprob. fair to say the econ data has been, uh, less than robust of late.
Unexpectedly, of course.
TIF rocking the house though....
any of you check out the Cycle T link I put up last night, I thought that was some very good, very detailed work personally
ReplyDeletemaybe worth a look if you didn't get a chance to check it out, would point to a top in the indexes but not until 2012.
here's the link
ReplyDeletehttp://www.stockmarketcycles.com/current_observations.htm
conclusions toward the very bottom if you don't want to read the whole thing but the background information is helpful
I don't think cycles are dominant factors in markets but I'm def. keeping this one in mind
was thinking that if we are to rally all the way until then it appears you'll want to run with the sector rotation that appears underway by going with some utilities/REITS/Staples/Healthcare and then looking at leadership stocks in spaces like energy or tech that are in a correction within a larger uptrend
XOM might be an example of one of those energy stocks, that still appears to be forming a corrective triangle to me.
"How many years before the govt can enter your home unannounced for searches?"
ReplyDeleteThey already can. They just have to say it was an accident (i.e., Oops, wrong house). If they happen to see something on their accidental search that gives probable cause, then they can go for a real warrant. This has recently been upheld in court.
In addition, they are able to do warrantless wiretaps (which, in this digital age, is a form of intrusion without court supervision) for both computing and telephony. Whatever is not officially legal (vis-a-vis domestic spying) can be done illegally and whistleblowers will be prosecuted (ironically) under the espionage act (see Thomas Drake case being prepared by the Obama administration).
Finally, the bar for getting a search warrant is extremely low. Combine that with the ability of the Feds to "shop" for lenient judges (i.e., if one judge is known for granting warrants leniently, all warrant requests will be routed through that judge).
Ben,
ReplyDeleteYour(10:43)
Thank you.
Matthew,
ReplyDeleteGreat, worse than I even thought/knew.
Gold outperforming silver today. Figures. But AUDJPY is down. So there may be a disturbance in the force.
ReplyDeletenp anon.
ReplyDeleteLULU is getting spanked the last two days
LNKD options started trading today. I wonder how many traders are buying puts/selling calls?
ReplyDelete@ben22. Checked out that chart on cycles. I need to read it over more carefully.
ReplyDeleteGuys, it gets worse:
ReplyDeletehttp://www.wired.com/dangerroom/2011/05/secret-patriot-act/
http://www.washingtonsblog.com/2009/12/american-justice-system-is-under-attack.html
http://www.washingtonsblog.com/2011/05/weve-gone-from-nation-of-laws-to-nation.html
wunsacon
ReplyDeleteWow. Didn't realize that we've been in a state of emergency since 9/11/01 and that the COG measures are still in place.
Hmmm. The 2:15 push hasn't happened. Might be more folks lined up at the exits than I thought.
ReplyDeletewe've been in a state of emergency since 9/11/01
ReplyDeleteWell now that Obama singlehandedly went in there with his own, meticulously thought up, tactical Navy Seal strike team... Shot OBL (in a humanitarian way - whereby no animals were harmed)... Then carefully & painstakingly used special choppers (to minimize air turbulence), rode him out to the India Ocean, wrapped the body in fine linen, anointed it with scented oils, frankensense, & myhrr, said the correct prayers, faced Mecca, and carefully slid the body into the quiet sea...
I suppose we OUGHT to take ourselves back to DEFCON 1...
Nothing to worry about now... Coast is clear!
Coming soon to a monarchy/oligarchy/dictatorship/democracy near you...
ReplyDeleteThailand arrests American for alleged king insult
http://news.yahoo.com/s/ap/20110527/ap_on_re_as/as_thailand_monarchy
CV will probably be first in line for Obama's Gulag... So THAT's why Gitmo isn't closed yet!
If you're not with them you're against them
ReplyDeleteIf you see something, say something
elect more Saturday Night Live alums to office
etc.
@ben22
ReplyDeleteThe laughable thing is that he has no power at all...
Just your average, everyday, teleprompting reading, flunkie...
CHAINS bitchez! (selected to serve the plantation owning banker overlords)...
...but BR & (cough, cough) 'friends' seem to think he's alright...
ReplyDeleteCV,
ReplyDeletedo NOT anger BR's followers
you'll be wire-tapped
I meant to say this yesterday, but never got around to it...
ReplyDeleteIf you haven't figured it out yet... The laughable transformation of Barry Ritholtz from 'self proclaimed' LIBERTARIAN, to 'covert' FLAMING LIBERAL is all too obvious...
BR is of the money grubbing chosen tribe... He follows the money...
The "money" (a few years ago when things things were breaking down) was getting choked off (and there was no apparent safety net)...
So his LIBERTARIAN bent was based on 'wanting to frontrun & be right' on the call beforehand...
But instead, his tribesmen (Bernanke, Paulson, Blankfein, Dimon, Geithner, & company) all came together to collectively steal from the gentiles & enrich themselves... Which BR, I'm sure, wasn't all too unhappy about... Just needed to tweak the rhetoric...
Obama was the perfect 'useful idiot' for their purposes...
Anyway... fast forward... And the entire system... IF the can kicking manages to get minorly deflected into a better glidepath timeframe to their (the chosen ones) liking... Well, it's the Keynesian/Krugman endgame (with Obama playing the role of George Armstrong Custer)...
I'm sure BR will find a way to enrich himself in the process...
But the BOTTOM LINE is... Libertarian? Liberal?... Ha! I doubt BR even has a political bent (at least to any greater degree than the hook in his nose)...
---
Sorry if this POV was offensive to anyone... But OTOH... I refuse to be apologetical to ones who would DISMISS ME IN A NEW YORK MINUTE just because I didn't have the same DNA as their fellow tribesman...
@ben (2:55)
ReplyDeleteToo late...
CV is definitely headed for the 'reverse-engineered' concentration camps now...
@all
ReplyDeleteI say all these things so NONE of you will ever have to...
Dog bless you all for being politically correct... I'm not smart enough to be politically correct...
SOMEBODY has to put out the trash... Might as well be me...
CV -- that's twice now in the last couple of days. I let the first one slip. Please lay off the anti-semitic language.
ReplyDeleteThey did all they could but it looks like we're about to have a fourth lower weekly close.
ReplyDelete***Now what happens in the next three minutes in anyones guess.
@Jennifer
ReplyDeleteOK... I'll go ahead and do so...
Sorry!
Every once in a while, I just get tired of being the obvious 'whipping boy' of bias...
But then, based on what has come to have been accepted, in a world where people want to wear their political correctness as a badge of honor... For nothing more than the opportunity to NOT get into a debate about something, and appearing to "not fit in"... They withhold the silent treachary that they are being subjected to and bombarded with...
I'm NOT a NAZI... I'm NOT a KKK member... I'm not even an NRA member (and I don't own a gun)... I have a samurai sword tho...
At the same time...
I don't need to be reminded, EVERY SINGLE MARCH (come Oscars time), about the holocaust... I didn't persecute Jews, I didn't commit genocide... I WOULDN'T (even given the opportunity)...
I didn't profiteer in/or participate in SLAVE TRADE... I wouldn't (even given the opportunity)...
Furthermore...
I make NO ATTEMPTS to place those like me in high ranking positions:
- in banking
- in government
- in media
NOR do I:
- use affirmative action biases to my advantage (how could I)?
I'm not even a WOMAN... So that makes me a REAL s***!
---
All I ask is to take a break from the R-E-L-E-N-T-L-E-S-S 'correction' of white male dominance (globally)... & give me an 'effin break...
OK... I get it!!!!
The problems of humanity were CAUSED by WHITE MALE DOMINANCE (non-Jewish... to boot)...
But fuck me... I KNOW I never 'acted' in any way like that in my life... I NEVER EVEN DENIED THAT IT HAPPENED...
But don't turn your aggression on me...
I'm the subject of discrimination in today's society... I'll be happy as hell when it all BALANCES out... But CV is the profile that is swimming against the rip tide in this generation...
That's my final rant...
Now I will humbly abide by your request...
How bout them RED SOX???
ReplyDeleteSorry - if I offended any 'communists' out there...
How 'bout dem BRAVES & INDIANS...
ReplyDeleteoops... Sorry if I offended any 'Native 'Mericans' with that!
How bout dem' MAVERICKS?
ReplyDeleteOops... Sorry if I offended any Mustang horses out there...
How 'bout dem HEAT?
ReplyDelete...Sorry if I offended any ice cubes out there...
How bout dem CANUCKS?
ReplyDeleteWTF is the 'antithesis' of a CANUCK?... Canadians?
Oops... Sorry to 'profile' you as the only culture on the planet who could possibly know what a Canuck was...
How bout dem BRUINS?
ReplyDeleteSorry (market) BULLS... Looks like the Bears are going to the finals...
Have a nice weekend everyone...
ReplyDeleteSpend time with your families... (That's what CV is going to be doing - plus a bit of work)...
By Tuesday it'll all be over...
Just joking there... I hope by Tuesday I'll be able to go trade some STERLING for a decent price...
I was a little miffed that yesterday or today the KITCO (the price god of coin dealers) wasn't a co-conspirator...
CV wantzza somma mo GOLD (at the moment)...
---
@Matthew
Did you buy some physical PLATINUM a bit back...
Cv was actually taking a gander at the Pm chart...
Hasta la Vista bitchez!
Reminds me of a story CV:
ReplyDeleteI was hired as house tour co-ordinator for Marilyn McCoo and Billy Davis' mgmt. co. stable of artists. I was asked if I minded being the only white guy on a tour...of course, no problem. Then Pop and Mavis Staples made it clear they weren't interested in a white honky road manager from Canada, no less. kinda stung at the time. ( No, I don't know what a Canuck is.)
So I did another tour with someone I'm too embarassed to admit to here, which found me at an American Song Festival in Saratoga, mulling over job offers,variously, from Etta James and the Pointer Sisters...who weren't too shy about pinching my ass at the time. All in good fun, of course.
On returning to L.A., Brenda Russell hits me up for a couple of hundred bucks to help with her rent. Last I heard, after a couple of hits...she was writing the music for Oprah's Broadway version of The Color Purple.
And so it goes.
Oh yeah...sprinkle a bit of sardonic between the lines here.