Morning Musings From Art Cashin

Tyler Durden's picture

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yourapostasy's picture

Singapore shocked Forex markets by revaluing its currency upward.

Hm, and here I was about to open an account in Singapore to park the revenue from my overseas projects. Damn, I better open that account soon before the dollar slides yet some more (even though we tell clients they are free to pay us in their local currency, their A/P departments still insist upon USD, as if they're trying to get rid of 'em).

As a small business, we do see some rays of daylight, but nothing to inspire blind optimism. It is shaping up to be a long, slow grind of growth, which suits us just fine.

Argonaught's picture

My (tiny) company is in the enterprise software space for large businesses and I am seeing a fairly solid rebound, but it already appears to be a rebound of diminishing returns.  Current business is just about as good as it has been in the last 5 years, but the pipeline is ugly.  I suspect this is common across many industries (stimuli (of all sorts) pumping up current demand with poor future expectations dampening long term growth and expectations).   

HarryWanger's picture

Seeing some volume backing up this strong move today. Good sign if you're long. Finally some volume to confirm the rally.

Hugh Janus's picture

yeah, blowout numbers by INTC, JPM, and CSX and the DOW is up a whole 50 pts.  if that doesn't scream confirmation, then i don't know what does.  and volume coming in after a 23% run in the small caps probably doesn't mean reversal time either.

Ivanovich's picture

Yeah, the bulls seem to be tiring today!  LOL!


More like they just got another first down!

HarryWanger's picture

With strong momentum and a 4 touchdown lead. This is the kind of days the bulls have been waiting for - volume to back up the move. Watch the run up into the close today. Every short on the planet will cover.

poor fella's picture

The machine has been supposedly been running for awhile, yet the Fed is still frantically hitting the primer bulb. Soon we're gonna get flooded and the machine will stall.. These are great times for momentum traders. When there are no more shorts, watch out because value has been running extremely thin for months. Why else do you think Bernanke's voice always cracks as if he's about to cry during testimony...

Lots of comments about the market, but not much on the story about the situation with small business. Shortsightedness abounds.

A Man without Qualities's picture

There was data published about mortgage applications today, but just about the only reference to it I could find was an Indian newspaper.  

But, yes, apart from the employment, the housing market, the government deficit, the balance of trade, the price of oil, small business confidence and the nagging suspicion the official data is bogus, it is a great time to be a bull.



Argonaught's picture

winning pitcher (if at home) would only throw 8 innings.  24...unless there is another trick to the question

GNH's picture

winning pitcher at home would go 9 innings -- it's the losing pitcher who would go 8 innings plus one batter.

chunkylover42's picture

Assuming he means STARTING pitcher, the answer of 25 is correct.  If he just means WINNING pitcher, the answer is zero (imagine a scenario where a game is tied in the top of the ninth and a reliever enters the game with runners on base and 2 outs.  One of the runners is picked off without a pitch being thrown, ending the inning, and the home team scores a run in the bottom of the 9th to win.  The pitcher of record for the winning team is the person on the mound when the last out was made by the other team.)

earnyermoney's picture

25. Visiting pitcher serves up a first pitch home run in the bottom of the 9th.

GNH's picture

25, if it's the losing pitcher in a road game, who retires everyone on one pitch except for one guy (home team) who hits a home run on the first pitch of the ninth inning. Pitcher (visiting team) loses the game 1-0.