.... Oh... wait he is just a republican congressman.... I keep forgetting.. No wait, He keeps forgetting.
Again... I don't know.... I keep feeling the Yips coming on.
There is that boxing quote, where "in order to get out of the way of a punch you have to step into it, and push away.". I keep feeling like I'm out of step.
- If gold is going to pull back, one would think fear reduced and the market should rise.
- If we have some form of stimulus package, we should at least anticipate it ... A little.
- End of the month is comming, one would think we would get a bounce.
- If the market popped in commodities, and they pull back a bit... seems like the market could go lower.
PFE just cut the dividend to buy Wyeth... All after the pharma sector swore they were secure in the Divi. It's always funny how the dividend plays blow up, in sort of a self fulfilling prophecy. Companies want to maintain a 2% dividend, just to keep institutional investors interested but when the stock goes down, they are compleatly willing to cut it. Even though one would think if they held it would support the stock price, and you would have to beat the investors away.
5 comments:
Ryan is drinking the Kool-aid. The problem with all these guys is that they are basicaaly whores and when they are on TV we never know which lobbyist has paid them this week. Ryan obviously is in bed with some pro-business interest group. Mankiw is just an ivory tower bonehead-- I read his site occasionally-- and he is the typical two-handed economist. Nothing is ever decided by this way of thinking.
Obama has it perfectly correct. Since there is no good evidence that one type of stimulus is better, then let's do them all: 1/3 tax cuts, 1/3 spending, 1/3 rebates.
The Republicans will never be satisfied... the always call for "structural change", but we did that already and the economy still faltered.
Gold should pull back... heck it had a whole year's worth of gain in one day. But I'm not sure that spells the end of fear. As T.Lo's Gartman article referenced, gold has reservist qualities and as such it may act like a stable currency since the other currencies are now overbought.
MCD... really beat up lately. Is that evidence that it's number and/or guidance will be weak?
PFE... is quickly becoming a shell of a drug company. No innovation, no pipeline, no manufacturing. The WYE buy may be a desperation move.
No divvies are safe.
You know if the Publicans were in office, they would be all about huge pork, and huge tax cuts.
Which is what got us here.
You know what a commie I am, but Nothing I would like to see more than Clear job spending on a per capita basis. Building anything that makes it cheaper and more cost efficient to do business in this country. Which means laying cable for the whole country, and not giving Sprint a tax break to lay cable... Which they will never do.
When the republicans suggest that every dollar taken out of somebody's pocket in taxes is a lost dollar moved from Private to public. My issue is that for the past 10 years why isn't that applied to spending on stupid crap... For every unpaid for tax cut, it's another dollar that government has to pull out of the private sector to apply to debt.
That seems like a thought I have yet to properly phrase.
I was hoping for a slight pull back in futures this morning, but nothing big which could result in friday action.
Seems like with Fair value where it was, flat line is a little more oversold that I'd like. In fact, even a little bit of upside action it would have been easy to sell.
I have a new metric, I have been playing with. Which is to watch the movement of the futures throughout the morning.
In the last hour if they move up, we will have some upward momentum, and the opposite.
So, this morning, they were down Early and moved up, Then sold off Now have moved back up.
This again has me confused. sounds sideways. But now that we are Flat with fair value, it would be bearish if they move down in the last half hour.
good lord...
I'm going to vent here. Futures are up, seems like something to sell.
But, Seriously after T-lo said "we are setting up for a "Big move" at 870, and we had a "big move" to 930(rolls eyes on a 50 pt move in the spx.), Then that "Show us the money, or a Gonner".. If we bounce hard here.... I guess I'm just getting at the idea that the signal to noise ratio is .... disheartening.
Even worse would be a false breakout...
I guess this all just shows how stressful last week was, on me...
I hate day trading.
RIG, baby. WFC doing okay too. I'm not trading today 'cause I'm back to the salt mine.
Utilities holding up well.
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