Sunday Evening Post: Week Ahead Glimpse Open Thread

Hello Friends,

Due to the fact I've been feeling awful all day long, I will start this post with an open thread ....

What is the worst song of all time?

Many people will suggest "We Built this City" by Jefferson Starship, which is a truly terrible tune.  I would have to put forward 311's "Amber" is the Color of Your Energy, which is another astoundingly awful song.

Steve Almond, on the other hand, thinks it's Toto's "I Bless the Rains Down in Africa."

It's a little long but a pretty clever take-down....



~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
I'm not even bothering to do a Scribd file this weekend.  My trading position is very flat at this point and I see no need to give myself heartburn before the end of the year.

1260 appears to be an important resistance point.  Daredevils might attempt to sell/short this market and use that level for a stop loss strategy.  If you've been feeling frisky and are long this market, consider 1233 as a near term support point.  My "gut" says we consolidate last week's gains in the week ahead and the market trades lower....


Addendum:
~~~~~~~~~~~
How 'bout them Texans?  The Offense puts on a 19 play TD drive to dagger an Atlanta Falcon team that came into Houston on a roll.  T.J. Yates looked a little "wired up" early with some passes that were a bit high, but the dude played with some swag and showed some really nice touch with the longer balls.  The Defense?  Another shutdown performance when they needed.  Hope springs eternal among the Texan faithful....

~~~~~~~~~~~~
Herman Cain shutters campaign?  When will we these guys learn?  It's "OK" to be a philander .... it's "OK" to even take an occassional BJ in the White House with cute chubby interns.  Americans really don't mind it....

But, you need to "get that out there" early in the process....

If I were to give advice to someone running for President, it would be to start the campaign with this statement:

"I'm going to run for President.  Here's all the things I've done in my life of which I'm not too proud....
[List my Top 10 F-Ups]
Nobody's perfect...definitely not me.  Ok?
Now, you ready to hear my ideas for the country?"

As long as you're not pulling a Sandusky or have killed anyone, we can look past most things....

20 comments:

Andy T said...

Madonna doing the half time show....

Geezo.

When was her last "hit?". .... Lady gaga's music excluded.

QQQQ said...

futures up, if that really means anything, looking around the blogs some thinking SPX may run up to near 1300 before turning back, we'll see.


can think of a few songs that may qualify...

for some reason this song makes me dizzy...
come on eileen

celine butchered this song from roy orbison
i drove all night

she-she-bob...bop...bop...bop...haaaa?
she bop

uh-huh, dis-my-shit
hollaback girl

cv said...

anything from the Black Eyes Peas...

cv said...

Takin' what CV has called "Coal FIRE!-ed Chevy Volts" to a whole new level...

I'm trading mine in for a Coal Fired Jetpack tomorrow...

http://www.leftlanenews.com/gm-akerson-misinterpreted-no-large-scale-volt-buy-back-planned.html

Reftback said...

Not loving this market. Do not like these low volume mid-range days, and I usually stay away or sell quietly until there is a large move.

Trade-wise my best idea is to buy Treasuries on weakness, and if there is a big yield spike on Eurofudge then fill yer boots with the long bond. We own no Ts at the moment. Auctions ahead next week should provide for a decent entry.

My major model here for SPX is that traders have been forced into a declining wedge between 200DMA at 1270ish and 50 DMA at 1215ish, and that this persists for most of the rest of the year.

But not completely ruling out another mini-squeeze in EURUSD that rolls this market up to 1300.... then that's a signal for profit taking, and we can short the crap out of it once we see the true nature of the Eurofudge on/after December 9.

Andy T said...

CV:

At least the Black Eyed Peas cause Katy housewifes to "get loose" at parties...

if you know what i mean.

Bwwahahahahaha

Andy T said...

"The Rise of Newt"

If Gingrich gets the nomination, Obama will definitely win....

The GOP is fucked...they got no candidate....

ben22 said...

I'd probably prefer to do a "top 10 worst" list as picking one is nearly impossible

but I always hated this song:

http://www.youtube.com/watch?v=vIbcqgXh5-4

Reftback said...

This song rocked though....

http://www.youtube.com/watch?v=-oqAU5VxFWs&feature=related

Mel said...

I don't know what crawled up Steve Almonds ass and died there...but a mockery can be made of anything...James Joyce or Jingle Bells.. Feelings (Morris Albert) also comes to mind. Each to his own.

Jeff and Mike Porcaro, David Hungate, and David Paich became good friends of mine in '74...and those who are still alive..remain so today. Collectively and individually they've backboned a thousand songs. Steely Dan didn't have a problem with their chops...nor did Miles Davis. Thing is...I don't see Almond shitting on that territory.

The explanation for the Africa groove can be found here:
http://en.wikipedia.org/wiki/Africa_(Toto_song)

ben22 said...

Fwiw, I like a bunch of stuff from Toto, they've got some solid songs and they can all play, imo

Anonymous said...

cv--

from the 'Comments' on L-L News..

Proud American
1 day ago
0 Like
Like
Arrow Up
Jesus...Relax people...They're trying to rectify the wrong with a RECORD BREAKING vehicle...Let them move on and improve upon what they have worked so hard for...THIS IS PROGRESS

What's, really, funny is that, many of these, "Green"-ioids think that 'Hybrid' "Technology" is 'Hip-Here-Now', 21stC, "JETPACK"-style, 'Wonderment'...

I point them back to the 'Diesel-Electric'-Locomotives, from the late 1930s...

the only Response? "Wow, really?"
~~

and, We wonder(?) why our 'Education' System blows...

Ignorance is, truly, a Gift that keeps on giving..

...Diesel-electrics started out in the 600-hp range, and the early ones were primarily switchers. The earliest examples were built in the late 1920's, and really didn't start to catch on until the late 1930's when railroads turned to diesel switchers to solve their problems with smoke in railroad yards located in major cities. At this time many cities had started fining the railroads for excessive smoke production. All the smoke from steam engines really made life difficult for inner city dwellers and workers. After they had run the diesel switchers for a while, they started to notice the economics of these engines, but before they could experiment with them further, WWII broke out, and all further experimentation ceased. In the U.S., Diesel manufacturers were ordered by the war production board to produce whatever products that they had already developed, which meant that some companies which had successful diesel switchers were stuck producing only switchers for the whole war. Others, which had concentrated on diesel road locomotives, enjoyed a head start on their competition, as they had the whole war to further refine their products.


After the war, the diesel-electric really took off. In the U.S. and Canada, General Motors rapidly became the dominant diesel locomotive builder, eventually putting most of its competition out of business. It's landmark FT locomotive was embraced wholeheartedly by North American railroads, and by the end of the 1950's steam was all but dead. Railroads, once they decided to switch to diesel-electric, bought virtually anything that was available, including some fairly poorly designed products. Diesels by GM, Fairbanks Morse, American Locomotive Company, Lima, and General Electric were all over the continent. Eventually, all but GM and GE were eliminated from the market in the U.S. and Canada....
http://www.essortment.com/diesel-electric-locomotive-engines-work-30125.html

AAIP

Anonymous said...

http://www.finviz.com/quote.ashx?t=AZO

~337.40

AZO tryin' to 'hold in there'

tho..
I like the "Sell" Call
340.00 AZO111217C00340000 6.71 2.41 6.50 6.90 766 916
"Buy" Put
330.00 AZO111217P00330000 5.22 1.98 5.10 5.30 53 591
for a "Credit"
ibid.

AmenRa said...

http://www.ft.com/intl/cms/s/0/7cf2e0ae-1f63-11e1-9916-00144feabdc0.html#axzz1fgiqBOOy
S&P ratings warning to top euro nations

The US ratings agency is poised to announce later on Monday that it is putting Germany, France, the Netherlands, Austria, Finland, and Luxembourg on “creditwatch negative”, meaning there is a one-in-two chance of a downgrade within 90 days.

If you're wondering about the dive a few minutes ago.

Reftback said...

Not much worth trading here. I am sure they will try to pump up the EURUSD again all week long.

SPX 1266.73 was HOD, getting very close to the 200 DMA. We will probably see that door being knocked on all week long.

Has BUCKY put in a short term bottom? I am sure you all noted the immediate reaction to the downgrade a few minutes ago?

RISK OFF - buy BUCKY (USTs) and the YEN.

ben22 said...

I just watched Almonds podium destruction of the Toto song

bit over the top imo, I don't think anyone had ever claimed that Toto was full of brilliant writers but as far as him being critical of the music itself, I'm fairly certain those guys were studio musicians so I'm thinking they can play....way better than most people

Also, who is Steve Almond? I'm not familiar with him, is he related to Rivers Cuomo?

I could find some lyrics to pick apart like that from any artist on any album that are dumb, anyone could do that

simple example:

Justin Timberlake's Future Sex/Love Sounds album was and is widely considered to be a "good record" and lots of folks, most recently Vanity Fair, seem really anxious to know when he'll make another one, I like it, but you know, Rolling Stone and the rest say it's 4 star type action and they are the "authority" right...or one of them anyway. Now get past the Love Stoned, What Goes Around, and of course, the club pumper Sexyback....and then what gems are on that disc?

ever listen to "losing my way" off of it?

it's trash, seriously, but I'm doubtful anyone ever stood at a podium to dissect these "deep" lyrics:

http://www.mp3lyrics.org/j/justin-timberlake/losing/

listen to it and honestly tell me if you don't laugh by the end of the first verse

now if we want to push even harder, have any of you ever listened to Lady Gaga's stuff.....and I mean the whole album, rather than just stopping at Poker Face or her Madonna "covers"


but you know, Timbersnake is decidedly cooler than Toto....

cv said...

now if we want to push even harder, have any of you ever listened to Lady Gaga's stuff.....and I mean the whole album

---

Ummm... No...

& I'd go ahead and say "let's NOT push that hard"... One Madonna was enough for me...

Anonymous said...

Global grains market oversupplied: Rutter

Gavilon Australia general manager of origination Matt Rutter spoke about the global grains market at the Australian Association of Agricultural Consultants outlook day.

He said a neutral to bearish grain market outlook was predicted for the harvest period and summarised the state of wheat, barley and canola market coming out of Australia over the next few months.

There is a loose grain balance sheet for most grains out of Australia, he said.

Australians are about to sell significant volumes of grain into an already oversupplied market.

Mr Rutter said already low wheat prices could drop even further due to the overpriced US and world market.

US export wheat is still overpriced in the international market and it could be argued that it needs to come down more; this would only pressure our prices down further, he said.

He said there was likely to be a surplus of low-grade wheat coming out of Australia, because of protein deficiencies in the eastern states and a wet WA grain harvest.

He noted the strong correlation between US corn and wheat prices.

If corn gets too expensive relative to wheat, feed millers will substitute corn with wheat, he said.

If corn does rally, there is a good chance wheat will get dragged along.

Mr Rutter said US corn could start to work into China, which could subsequently put a floor in the wheat market. He said the wheat futures market showed a solid downtrend and investors were starting to question how low it could go.

Gavilon predicted a similarly bearish outlook for barley prices.

Mr Rutter said the outlook for feed barley prices was not strong.

Feed barley compared to milling wheat remains at a premium, which is unsustainable, he said.

We are seeing feed barley at the moment pricing roughly at the same price into Saudi as to what ASW is pricing into China and pressure will come on the feed barley market.

He said the three main markets for Australia's barley were Saudi Arabia, China and Japan.

http://www.world-grain.com/News.aspx

ibid.

AmenRa said...

Corner will be up later. Have to make a run.

AmenRa said...

Tiger back to his old ways. Hide your waitresses.

new thread.

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