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Frontrunning: December 29
- China Cuts Export Quotas for Rare Earths by 35% in First Round of Permits (Bloomberg)
- China Likely to Set Up Rare Earth Trade Body (China Daily)
- Austerity May Not Be Enough to Save the EU's Weakest Links (Independent)
- European Borrowing Costs Eclipse US (FT)
- A Fed-Induced Speculative Blowoff (Hussman)
- To Dow 16,000...Then 6,000? (WSJ)
- As in Sex, WikiLeaks Founder Tests Press Limits (Bloomberg)
- BP Investor Lawsuit to Be Led by New York, Ohio Pension Funds (Bloomberg)
- Dollar Trades Near 6-Week Low on Signs U.S. Recovery Is Uneven (Bloomberg)
- South Korea Declares North's Regime Enemy After Shelling (Bloomberg)
- Brazil Raises Duties on Chinese Toys as Real Gains Hurt Industry (Business Week)
- Russia Moves to Draw in More Foreign Investors (WSJ)
- Plunge of For-Profit College Stock Makes Sperling Rail at Obama (Bloomberg)
- Garrett: U.S. Support for Housing Market to Be Withdrawn Slowly (Reuters)
- Suicides in India Revealing How Men Made a Mess of Microcredit (Bloomberg)
Economic Highlights:
- Eurozone M3 s.a. 1.9% y/y higher than expected Consensus 1.6% y/y Previous 0.9% y/y (revised from 1.0% y/y)
- Spain Adjusted Real Retail Sales -0.1% y/y Previous -1.2%y/y (revised from -1.0% y/y)
- Swiss KOF Leading Indicator 2.10 as expected Consensus 2.10 Previous 2.13 (Revised from 2.12)
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Dr. Frontrunner [second attempt]
1. The Blow Horn [CNBC] will spend more time talking about shopping [in the form of gift cards] instead of talking about how the Euro looks to be on its way to the ash heap of history.
2. Oil Futures [after putting a ding in my previous attempt to be a frontrunner] will finally rediscover gravity and market forces because oil continues to be priced for stupid...and is now approaching being priced for dot com.
**Peter Beutel, President of Cameron Hanover said what I wrote best. Paraphrasing, "these supply and demand characteristics for oil have occurred at $25...in a perfect world, oil would be a lot lower and our economy a lot stronger." Ah, were it not for so many criminal syndicate Wall Street bankers everywhere. Hey, in January, why don't we get rid of a bunch of them?**
3. Little Miss Euro prints 1.30 [on her way to 1.26 for the first day of the new year] to the USD...and the completely morally depraved USD has its way with everyone alive...including Mrs. Yen...which is a really disconcerting image...my apologies.
4. Gold [which also thwarted me last time], seeing Mr. Stud USD having its way with everyone, flips USD the bird and a struggle ensues into the new year...which is to say that criminal syndicate Wall Street bankers continue to try to break gold because way too many Average Joe's trust it more than banker products.
5. A terrible headline will be printed about the bank known as Blight on America. I don't know what it will be, but it will be terrible and we will all hope that it does not include anything about dead puppies.
6. Burritos previously priced for dot com, now easing back to being priced for stupid, will continue to moderate in price as food input costs [aka inflation caused by criminal syndicate Wall Street bankers drunk on Bernanke bananas] will continue scare the crap out of said Wall Street bankers whose expectations are ASTRONOMICAL for said burritos [which will disappoint].
7. Tech stocks priced for dot com, whose insiders are desperately selling shares every single day in attempt to take advantage of ridiculous valuations, will pop out of the gate and then continue their march lower as everyone on Wall Street already owns them.
9. The world's largest maker of petroshrimp will finally relent and move lower as nobody likes petroshrimp and because Barry plans to move in and take another massive pile of cash away from the company.
10. The market will close slightly higher after being mostly lower intraday as a result of pressure from criminal syndicate Wall Street bankers selling HFT manipulated winners in case someone accidentally unplugs the creation units machine over at the Roach Motel [SPY] as the new year approaches [the selling having no negative impact on the close]...and anyway, selling infinity shares into the perpetually rising and gaping maws of ETFs everywhere has been really good business this year, so why not make a pile of cash and blow it on the most expensive bottle of champagne in the world.
[bonus: shares of CMCSA will continue to rise in a confounding and counter intuitive way as it draws closer and closer to becoming the owner of The Blow Horn [CNBC] which has been on an absolute rip this holiday season destroying value each and every one of its programming days [broadcasting news for hockey helmet wearing people only.]
why are all the front-running articles from the controlled main stream media? i can find that shit myself.
Uneven, bitches!
The Hussman article was interesting until he mentioned Alan Abelson.