Archive - Dec 2009 - Blog entry

Simultaneous bearish signals registered across Market Internals (TICK, VOLD, ADD, VIX) at exactly 3:27 pm, which directly presaged 5 increasingly greater TICK lod readings that registered over the next 30 minutes; demonstrating an overwhelming desire to sell by market participants. Today’s bearish instance is a perfect exemplar of a practical nuance within technical analysis and just one of many which successful traders effectively employ on a daily basis.

Congressman Kucinich said today:"America is in the fight of its life and that fight is not in Afghanistan -- it's here ... We are deeply in debt. Our GDP is down. Our manufacturing is down. Our savings are down. The value of the dollar is down. Our trade deficit is up. Business failures are up. Bankruptcies are up."

Call and write your senator ... keep up the pressure to change insane fed policy.

White House press secretary Robert Gibbs set the rumor mills a-grinding with a statement earlier today that may be a preemptive strike against any surprise "uptick" in unemployment. But this would not be the first time the administration made such a leak.

I don't know if it has been officially declared here or not, so I will say it explicitly. Since Wall Street DOES NOT charge for their research, it is essentially a loss leader for sales. We all know this, yet we pretend that it does not happen. Well, it does. It's pervasive. It's explicit. It's now! The goal of Wall Street research is not to enrich the retail or institutional brokerage client, but to pave the way for the underwriting, sales and trading departments. Go ahead. Prove me wrong. I dare 'ya.

Here is a proposal that WOULD create jobs and stimulate the economy. It is very big and therefore would be effective. It would also be revenue neutral, something that no other plan can claim. What do you think?

"We would not be surprised to see more sovereign debtors make unilateral announcement of debt moratoriums and/or restructurings, perhaps including even oil rich Venezuela. We notice in that regard that Venezuela’s lider maximo, Hugo Chavez, is preparing to nationalize the few remaining private banks of that nation, usually a good indicator of an approaching sovereign debt default."

$48 billion over 30 years, and it's just the beginning. Don't say I didn't warn you...

Heck of a job, Larry, Tim and Ben...

Foreign Policy magazine has just come out with its list, “The FP Top 100 Global Thinkers." They rate the intellectual giants, the Big Thinkers, the Big Brains of our current world. It is the most pompous fluff piece that I have seen in, well, quite a while. It just brims with a lack of intellectual rigor, reason, and good scholarship. It is a kind of Parade magazine feel-good fluff that we see in many of these types of lists. And it is grist for my vitriolic mill. You will be sadly disappointed.

Virtually unlimited access to cheap money blurs lines between what makes economic sense and what doesn’t. If it can be financed it will be built. Dubai’s plan to diversify away from petrochemicals made sense. Maybe it is even destined to become the Las Vegas of the Middle East, the Mecca of business travel and luxury. Dubai, however, is like NASA; both have proven that anything is possible when you ignore economic costs.

Nobel 'Peace' Prize winner Obama escalates war in Afghanistan in act of Orwellian tragedy.

Hey, CNBC is just as objective as the next news outlet, right???

In light of an especially noteworthy Full Moon, both gold bugs and those who are particularly 'in tune' with the waves of collective social mood (akin to social tuning forks) ought to remain extra cranky for an additional few days. 02:28:xx, Wednesday morning (12.2.09), marked a Full Moon; we at Fibozachi always reference time in EST, which is universal 'market time' while everything else is just ‘noise,’ though apparently there is something other than just dead 401(k) money scattered across mutual fund sub-accounts domiciled in Manhattan/ Boston (equities), Chicago (commodities) and Newport Beach (bonds).