DOW 16,478.41, -1.47 (-0.01%)
NASDAQ 4,156.59, -10.59 (-0.25%)
S&P 1,841.40, -0.62 (-0.03%)
10-Yr Note 97.86, +0.57 (+0.58%) Yield: 3.00%
NASDAQ Volume 1.17 Bil
NYSE Volume 2.05 Bil
Combined NYSE & NASDAQ Advance - Decline: 2714-2958
Combined NYSE & NASDAQ New highs - New lows: 455-72
WTI crude oil: 100.32, +0.77
Gold: 1,214.00, +1.70
Silver: 20.05, +0.133
Corn: 427.50, +1.25
Friday, December 27, 2013
Thursday, December 26, 2013
Buying the All-Time Highs: Is This Wise?
Despite dismal volume, investors piled into stocks - at all-time highs - once again.
Whatever the investment gurus have to say, all of this is due to unlimited funds from the Federal Reserve. Yield on the 10-year note reached 3% today, but apparently, that does not matter.
Absolutely crazy.
DOW 16,479.88, +122.33 (+0.75%)
NASDAQ 4,167.18, +11.76 (+0.28%)
S&P 1,842.02, +8.70 (+0.47%)
10-Yr Note 97.92, -0.08 (-0.09%) Yield: 3.00%
NASDAQ Volume 1.11 Bil
NYSE Volume 1.97 Bil
Combined NYSE & NASDAQ Advance - Decline: 2987-2704
Combined NYSE & NASDAQ New highs - New lows: 640-56
WTI crude oil: 99.55, +0.33
Gold: 1,212.30, +9.00
Silver: 19.92, +0.432
Corn: 426.25, -8.25
Whatever the investment gurus have to say, all of this is due to unlimited funds from the Federal Reserve. Yield on the 10-year note reached 3% today, but apparently, that does not matter.
Absolutely crazy.
DOW 16,479.88, +122.33 (+0.75%)
NASDAQ 4,167.18, +11.76 (+0.28%)
S&P 1,842.02, +8.70 (+0.47%)
10-Yr Note 97.92, -0.08 (-0.09%) Yield: 3.00%
NASDAQ Volume 1.11 Bil
NYSE Volume 1.97 Bil
Combined NYSE & NASDAQ Advance - Decline: 2987-2704
Combined NYSE & NASDAQ New highs - New lows: 640-56
WTI crude oil: 99.55, +0.33
Gold: 1,212.30, +9.00
Silver: 19.92, +0.432
Corn: 426.25, -8.25
Wednesday, December 25, 2013
Tuesday, December 24, 2013
Merry Christmas from Struggling Retail Sector, Darlene Love Baby Please Come Home
Today, somebody suggested a few ways to "run a few big retailers into bankruptcy."
Don't worry, they don't need any help. They are doing a smash-up job of it all by themselves. JCP will be the first to go; I have a choice parking spot already picked out for the "EVERYTHING MUST GO, CLOSING OUR DOORS, ALL SALES FINAL" going out of business sale at JC Pennys at the local mall (I need some new pants). But, just to be safe, don't bet the house on JCP taking down any banks. Goldman Sucks already has the real estate under many JCP stores locked and loaded.
Actually, Blockbuster already started the trend. There's a huge yellow sign on the Blockbuster near me. Can't miss it. Too bad nobody wants DVDs at anything over $2-4. There are some ebay sellers ready to swoop down and purchase all their remaining inventory for actual pennies on the dollar. 2014 will see numerous large bankruptcies, led by retailers, IMO.
Now, when these retailers start dropping like flies, the media will crow that it's because of the success of the internet (Obamacare web site not included). Net result is moar deflation... err, I mean, disinflation.
And Old Yellen will, as quietly as possible, probably by surreptitious means, increase QE to well over $100k per month, maybe buying up something like securitized student loans gone bad (video out soon).
The government will no longer want the shirts off your backs, because the shirts - sewn in Southeast Asian sweatshops by brown and yellow people who do not matter - aren't worth anything.
Usually, I'm not big on making predictions, as they're difficult to get right and most people will maim you more on your errors, rather than praise your correct calls, but I do believe bankruptcies are in order for 2014 in the retail sector, at least, and spreading to other consumer discretionary companies, maybe a couple of REITs or large mall owners (could be one and the same). More layoffs, more welfare, more SNAP, more phony government statistics, more lame excuses, more liberal apologists, and, as usual, the banks will profiteer like never before.
America has this coming, because it has ignored, squandered and/or pillaged the true wealth of the country - its land, its labor, its accumulated wealth and its populace - to save its fraudulent banking and political system.
As for the markets, the annual year-end ramping continued in Tuesday's short session.
In keeping with the spirit of the season, here's a treat from the David Letterman Show: Darlene Love singing, "Christmas, Baby Please Come Home." If this doesn't bring a tear to your eye, well, then you're either the Grinch or another old Scrooge.
Merry Christmas, and may we all survive the coming New Year!
-- Fearless Rick
DOW 16,357.55, +62.94 (+0.39%)
NASDAQ 4,155.42, +6.51 (+0.16%)
S&P 1,833.32, +5.33 (+0.29%)
10-Yr Note 98.03, -0.11 (-0.11%) Yield: 2.98%
NASDAQ Volume 763.66 Mil
NYSE Volume 1.30 Bil
Combined NYSE & NASDAQ Advance - Decline: 3550-2028
Combined NYSE & NASDAQ New highs - New lows: 587-41
WTI crude oil: 99.15, +0.24
Gold: 1,203.60, +6.60
Silver: 19.48, +0.071
Corn: 434.75, +0.50
Don't worry, they don't need any help. They are doing a smash-up job of it all by themselves. JCP will be the first to go; I have a choice parking spot already picked out for the "EVERYTHING MUST GO, CLOSING OUR DOORS, ALL SALES FINAL" going out of business sale at JC Pennys at the local mall (I need some new pants). But, just to be safe, don't bet the house on JCP taking down any banks. Goldman Sucks already has the real estate under many JCP stores locked and loaded.
Actually, Blockbuster already started the trend. There's a huge yellow sign on the Blockbuster near me. Can't miss it. Too bad nobody wants DVDs at anything over $2-4. There are some ebay sellers ready to swoop down and purchase all their remaining inventory for actual pennies on the dollar. 2014 will see numerous large bankruptcies, led by retailers, IMO.
Now, when these retailers start dropping like flies, the media will crow that it's because of the success of the internet (Obamacare web site not included). Net result is moar deflation... err, I mean, disinflation.
And Old Yellen will, as quietly as possible, probably by surreptitious means, increase QE to well over $100k per month, maybe buying up something like securitized student loans gone bad (video out soon).
The government will no longer want the shirts off your backs, because the shirts - sewn in Southeast Asian sweatshops by brown and yellow people who do not matter - aren't worth anything.
Usually, I'm not big on making predictions, as they're difficult to get right and most people will maim you more on your errors, rather than praise your correct calls, but I do believe bankruptcies are in order for 2014 in the retail sector, at least, and spreading to other consumer discretionary companies, maybe a couple of REITs or large mall owners (could be one and the same). More layoffs, more welfare, more SNAP, more phony government statistics, more lame excuses, more liberal apologists, and, as usual, the banks will profiteer like never before.
America has this coming, because it has ignored, squandered and/or pillaged the true wealth of the country - its land, its labor, its accumulated wealth and its populace - to save its fraudulent banking and political system.
As for the markets, the annual year-end ramping continued in Tuesday's short session.
In keeping with the spirit of the season, here's a treat from the David Letterman Show: Darlene Love singing, "Christmas, Baby Please Come Home." If this doesn't bring a tear to your eye, well, then you're either the Grinch or another old Scrooge.
Merry Christmas, and may we all survive the coming New Year!
-- Fearless Rick
DOW 16,357.55, +62.94 (+0.39%)
NASDAQ 4,155.42, +6.51 (+0.16%)
S&P 1,833.32, +5.33 (+0.29%)
10-Yr Note 98.03, -0.11 (-0.11%) Yield: 2.98%
NASDAQ Volume 763.66 Mil
NYSE Volume 1.30 Bil
Combined NYSE & NASDAQ Advance - Decline: 3550-2028
Combined NYSE & NASDAQ New highs - New lows: 587-41
WTI crude oil: 99.15, +0.24
Gold: 1,203.60, +6.60
Silver: 19.48, +0.071
Corn: 434.75, +0.50
Monday, December 23, 2013
India's Clumsy, Futile Attempts to Throttle Public Gold Purchases
1 kilogram = 35.2739619 ounces.
Why does this matter?
Because that's the amount of gold an Indian citizen is legally allowed to take into India after at least six months abroad.
In a fascinating story in the aftermath of the India government's harsh restrictions on the importation of gold, a plane from Dubai to the Indian airport at Calicut carried 80 passengers, each of them returning to their homeland with one kilogram of gold.
In dollar terms, the plane was carrying 2572.06 troy ounces of gold, valued at roughly $3,086,472 worth of gold if one uses $1200 per troy ounce as a baseline. The passengers were primarily laborers returning home from construction jobs in the Middle East. Full story, courtesy of the India Times here.
The actions by some of the more nefarious elements in Indian society point up the futility of governments' attempts to control money supplies, balances and trade in the face of independent people. All they ever end up doing is causing imbalances, which naturally favor those in control positions. Sadly, the bulk of the population doesn't see what's being done to their currencies and their freedoms until it is too late.
As it is in India, it is everywhere. Governments, once they have grown beyond their capacity to usefully serve the population, become nothing but a drag and anchor on society.
Thanks to oversize, bulky interference by government entities and their cohorts like central banks, besides the now near-daily ramping to new and newer all-time highs on the various US equity indices, there's not much worth reporting these days.
DOW 16,294.61, +73.47 (+0.45%)
NASDAQ 4,148.90 , +44.16 (+1.08%)
S&P 1,827.99, +9.67 (+0.53%)
10-Yr Note 98.45, +0.20 (+0.21%)
NASDAQ Volume 1.66 Bil
NYSE Volume 2.83 Bil
Combined NYSE & NASDAQ Advance - Decline: 4111-1647
Combined NYSE & NASDAQ New highs - New lows: 669-58
WTI crude oil: 98.91, -0.41
Gold: 1,197.00, -6.70
Silver: 19.41, -0.04
Corn: 434.25, +1.00
Why does this matter?
Because that's the amount of gold an Indian citizen is legally allowed to take into India after at least six months abroad.
In a fascinating story in the aftermath of the India government's harsh restrictions on the importation of gold, a plane from Dubai to the Indian airport at Calicut carried 80 passengers, each of them returning to their homeland with one kilogram of gold.
In dollar terms, the plane was carrying 2572.06 troy ounces of gold, valued at roughly $3,086,472 worth of gold if one uses $1200 per troy ounce as a baseline. The passengers were primarily laborers returning home from construction jobs in the Middle East. Full story, courtesy of the India Times here.
The actions by some of the more nefarious elements in Indian society point up the futility of governments' attempts to control money supplies, balances and trade in the face of independent people. All they ever end up doing is causing imbalances, which naturally favor those in control positions. Sadly, the bulk of the population doesn't see what's being done to their currencies and their freedoms until it is too late.
As it is in India, it is everywhere. Governments, once they have grown beyond their capacity to usefully serve the population, become nothing but a drag and anchor on society.
Thanks to oversize, bulky interference by government entities and their cohorts like central banks, besides the now near-daily ramping to new and newer all-time highs on the various US equity indices, there's not much worth reporting these days.
DOW 16,294.61, +73.47 (+0.45%)
NASDAQ 4,148.90 , +44.16 (+1.08%)
S&P 1,827.99, +9.67 (+0.53%)
10-Yr Note 98.45, +0.20 (+0.21%)
NASDAQ Volume 1.66 Bil
NYSE Volume 2.83 Bil
Combined NYSE & NASDAQ Advance - Decline: 4111-1647
Combined NYSE & NASDAQ New highs - New lows: 669-58
WTI crude oil: 98.91, -0.41
Gold: 1,197.00, -6.70
Silver: 19.41, -0.04
Corn: 434.25, +1.00
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