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Earning Interest And Clipping Coupons In Bonds And Cash Is Always Better Than Watching Stocks Go Down.... Unless You Can Short.
Friday, July 2, 2010, 10:14 PM
The ultimate result of shielding men from the effects of folly is to fill the world with fools. --Herbert Spencer
Pretty really Serious links....
http://www.telegraph.co.uk/finance/comm ... -1932.html
Last week, forty Republican Senators and one Democrat blocked action on extended unemployment benefits. This week, three GOP Senators were absent for the roll call but the end result was the same -- no relief for the long-term unemployed. By the time those 41 lawmakers return from their Fourth of July recess, 2 million Americans will have spent their final unemployment check. Republicans, however, will not shed crocodile tears over the pain inflicted on the jobless. Instead they will cheer every vote cast that diminishes, delays or denies help to the 31 million Americans idled by this Grave Recession. During the Bush administration, those same Republicans supported policies that are the proximate causes of our economic turmoil -- deficit financing of tax cuts for the wealthy, deregulation of the financial market place and the de-industrialization of America in the name of free trade. But rather than accept responsibility for their own disastrous policies, the GOP started a vendetta against the jobless. Republican attacks on America's jobless are neither random acts of meanness nor the ravings of a lunatic fringe. They are hostile acts in a partisan strategy. By attacking the powerless, Republican lawmakers hoped to align their party with the powerful, capture control of the next Congress and, ultimately, win back the White House. Occasionally, Republican law makers telegraph their deep disdain for the unemployed. Senator Jim Bunning (R-KY) did so with his one-man filibuster against extended unemployment. Senator John Kyl (R-TX) suggested unemployment acted as "a disincentive for them to seek new work." Senator Orrin Hatch (R-UT) felt the jobless should be drug tested in order to qualify for unemployment insurance. And Congressman Dean Heller (R-NV) used the word "hobos" to demean those on unemployment.
http://www.huffingtonpost.com/rick-sloa ... 33217.html
Everything looks awful. And the recent drop and unemployment numbers are fear inspiring. But we've had 9 outta the last ten days down and everybody is leaning the same direction. Look for an oversold bounce/ counter trend move sooner rather than later. It'll sting if you are in cash or bonds. But ask, "Has anything changed? Or is this part of the markets not being simple or easy?" A trend is a trend until it isn't, and I'll have to have a reason before I allocate back into equities. Cash and bonds fer now....
Wednesday.....
That stung..... Smokin' hot upward day....
But on low volume and ya gotta look at it in perspective....
Stay tooned....
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Sell In May And Go Away... Or Not. It Was A Pretty Good Idea... Now What?
Saturday, May 29, 2010, 02:51 PM
The complete lack of evidence is absolute proof that the conspiracy is working successfully. -- Unknown.
Chartz and Table Zup @ www.joefacer.com
Obligatory Old Fart Music Link: http://www.youtube.com/watch?v=bqVVnExlX9c
John Cipollina's Stack: http://www.johncipollina.com/rockAmpStack.htm
Sell In May And Go Away...Fuckin' "A"!!!
Pretty much self explanatory. The market is NOT healthy and playing the bounces in a down trend (bear market bounces are notoriously viciously fast and steep) can be very profitable IF you are aggressive, quick, nimble, leveraged, selective, and steely eyed. Which I am. But that is NOT a description of something workable with a 401a. I'm still all cash and bonds.
Four BUMMERS, Coupla Laughers http://www.ritholtz.com/blog/2010/05/si ... -clean-up/ http://www.ritholtz.com/blog/2010/05/oi ... -chutzpah/ http://www.ritholtz.com/blog/2010/05/bp ... on-valdez/ http://www.blacklistednews.com/?news_id=8878 http://www.ritholtz.com/blog/2010/05/co ... y-lost-1m/ http://www.ritholtz.com/blog/2010/05/ne ... -for-ceos/
http://www.ritholtz.com/blog/2010/05/gs ... -millions/ http://www.ritholtz.com/blog/2010/05/un ... linquency/ http://www.ritholtz.com/blog/2010/05/cy ... slation-3/ http://www.ritholtz.com/blog/2010/05/da ... -thoughts/ http://www.bloomberg.com/apps/news?pid= ... &pos=6 http://www.ritholtz.com/blog/2010/05/in ... al-crises/ http://www.ritholtz.com/blog/2010/05/wh ... g-and-why/ http://www.ritholtz.com/blog/2010/05/si ... more-56374
Back inna day, we tried the "self regulation" that a lotta "free marketers" rattle on about. It was at a place called "Altamont"....
A MOST MASSIVE MISSIVE: http://www.ritholtz.com/blog/2010/05/th ... trading-2/
Almost as good... http://www.ritholtz.com/blog/2010/05/ch ... etirement/ http://www.ritholtz.com/blog/2010/05/ja ... reak-free/
So it goes... http://www.nytimes.com/2010/05/30/us/30 ... wanted=all
As Richard Feynman, the physicist, once observed, “For a successful technology, reality must take precedence over public relations, for nature cannot be fooled.” Indeed, think of all the planes grounded for nearly a week in northern Europe last month, as a volcano poured ash in the atmosphere. There was no technological fix, and many passengers couldn’t believe it. Said Mr. Kohut, of Pew Research, “The reaction was: ‘Fix this. Fix this. This is outrageous.’ ”
http://www.nytimes.com/2010/05/30/weeki ... l?src=tptw
http://www.msnbc.msn.com/id/37432881/ns/gulf_oil_spill/ http://www.msnbc.msn.com/id/37423584/ns ... tn_africa/ http://www.newsweek.com/blogs/the-gaggl ... ians-.html http://www.newsweek.com/2010/05/28/the- ... -west.html http://www.newsweek.com/2010/05/30/in-d ... urope.html http://www.msnbc.msn.com/id/37435289/ns/gulf_oil_spill/ http://www.bloomberg.com/apps/news?pid= ... &pos=2 http://www.bloomberg.com/apps/news?pid= ... &pos=9 http://blogs.reuters.com/great-debate/2 ... t-decades/ http://blogs.reuters.com/great-debate/2 ... t-decades/
This is the second time I've seen this material. It's kinda too scary to contemplate. Black helicopters at Area 51 to the max... I've seen a lot of this kinda stuff disproved over the years. Hopefully this too is another bad acid trip. Still...
http://www.ritholtz.com/blog/2010/05/se ... e-bp-leak/ http://www.ritholtz.com/blog/2010/05/si ... -clean-up/
http://www.ritholtz.com/blog/2010/05/is ... g-america/ Check out the 2nd comment....
http://www.ritholtz.com/blog/2010/05/oi ... more-56415 http://www.ritholtz.com/blog/2010/05/oi ... more-56415 http://paul.kedrosky.com/archives/2010/ ... roduc.html
TUESDAY http://paul.kedrosky.com/archives/2010/ ... _goes.html
Ahl Be Back....
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It's Not A SinTo Be Wrong. It Is A Sin To Stay Wrong.
Saturday, April 17, 2010, 04:25 PM
Surprise, surprise, surprise! -- Gomer Pyle
Chartz And Table Zup @ www.joefacer.com
The Only Tea Party Stat You Need to Know
http://www.ritholtz.com/blog/2010/04/th ... d-to-know/
This Was NOT A Surprise...
http://www.msnbc.msn.com/id/36612092/ns ... ork_times/ http://blog.newsweek.com/blogs/wealthof ... apiro.aspx http://www.bloomberg.com/apps/news?pid= ... 2BBUru4.hM http://www.msnbc.msn.com/id/36603564/ns ... igan_show/
http://www.telegraph.co.uk/finance/econ ... ments.html http://www.cnas.org/blogs/abumuqawama/2 ... istan.html http://www.msnbc.msn.com/id/36382787/ns ... ork_times/ http://www.msnbc.msn.com/id/36283460/ns ... e_economy/ http://www.ritholtz.com/blog/2010/04/jo ... waps-tbtf/ http://www.newsweek.com/id/236523 http://www.bloomberg.com/apps/news?pid= ... &pos=5
Hell! Gotta Have Some Fun.... http://www.ritholtz.com/blog/2010/04/pixels/
http://www.ritholtz.com/blog/2010/04/an ... lout-math/ www.ritholtz.com/blog/2010/04/dumb-research-of-the-day-dicks-good-bjs-bad/ http://money.cnn.com/2010/04/15/news/co ... /index.htm http://www.ritholtz.com/blog/2010/04/qu ... man-sachs/
Interesting and interestinger..... http://www.ritholtz.com/blog/2010/04/sec-kiss-of-death/
So I gotta deal with reality. Three banks failed in 2007, twenty five failed in 2008, and 140 failed in 2009. Fifty have gone down this year to date. Employment sucks, the European Union may fold and that may drive the dollar up and drive the global economy down. How can the United States become a manufacturer again and export our way to prosperity with a high dollar and massive unemployment and higher interest rates? Good question.
Regardless,the long term market trend is up and overextended or not, anticipating a top has left way too much money on the table...
Goldman Sachs has reintroduced volatility into the market. Time to hold my nose and cautiously buy back in on a drop. It'd a been better if I'd been 100% long and held it since a year ago, but Oh Well! We got problems to work through and I expect the markets to reflect the uncertainty. The markets will go up and down. I gotta match exposure to risk. Starting with a cautious buy This week. Or not. Stay tooned....
CDO 's explained.... http://marketplace.publicradio.org/disp ... king_cdos/
SEC/Goldman explained..... http://marketplace.publicradio.org/disp ... r-goldman/
Make ya wanna puke.... http://www.ritholtz.com/blog/2010/04/ho ... more-55145
Tuesday http://www.ritholtz.com/blog/2010/04/ru ... practices/
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So The Fed Left The Punch Bowl Out Too Long An' Wall Street And Real Estate Fell In. And What Ya Knew Was Gonna Happen, Happened. Then The Fed An' The Government Borrowed The Public's Credit Card And Refilled The Punch Bowl. Pourin' Alky Down A Drunk's Throat Never Ends Well. Sobering Up Gets Postponed And Worsened. Don't Stand In Front, Stand To The Side.
Saturday, February 13, 2010, 04:33 PM
My philosophy for trading is -- understand why something is happening economically and then look at the price action. If both of them works, go trade. If one of them is starting to fall apart, get out. And if both fall apart, get short, -- Dennis Gartman
Chartz and Table Zup @ www.joefacer.com. Check it out!
Hell, good enuf to make it two weeks inna row. http://www.youtube.com/watch?v=Sy7vnwXg ... r_embedded
Larry Faucette on congas Freddie Smith on sax Buddy Miles on drums Mike Finnigan on keyboards
Mike was the SF connection. I used to see his band play at a club in Mill Valley. Also on the LP were Jack Cassady/Stevie Winwood, coupla guys who also played good music elsewhere at the time. The guitar player was pretty good too. The first time I saw him, he headed the bill at Winterland with Albert King and John Mayall's Blues Breakers. Two sets each starting at 8:00 and JH played until 2:15...
http://www.bloomberg.com/apps/news?pid= ... &pos=4 http://www.ritholtz.com/blog/2010/02/st ... al-policy/ http://www.bloomberg.com/apps/news?pid= ... amp;pos=11 http://www.newsweek.com/id/233519 http://www.ritholtz.com/blog/2010/02/be ... ing-gifts/ http://www.bloomberg.com/apps/news?pid= ... &pos=4 http://www.bloomberg.com/apps/news?pid= ... hIeftRVyvE http://www.bloomberg.com/apps/news?pid= ... &pos=2 http://www.bloomberg.com/apps/news?pid= ... Xq1qk1ll9M http://www.ritholtz.com/blog/2010/02/ho ... al-crisis/ http://www.ritholtz.com/blog/2010/02/in ... -expected/ http://online.wsj.com/article/SB1000142 ... 53714.html
The Obama administration's starting out with health care reform instead of financial reform was a fuck up of enormous proportion. Newsweek's current riff is that it was necessary but still wrong. That news has been out a while. So health care reform is bogged down big time. And Too Big To Fail financials are fewer names but even bigger entities with the taxpayer an unwilling participant in the fun and games. Obama signed on to Bush's program and left the suspects and persons of interest in place and buried them in taxpayer's money. Which they passed around while the jobs just kept disappearing....
So Main Street sees Wall Street getting healthy enough on Main Streets money to be back to the big bonuses spread among fewer names while Main Street continues south. We are still losing jobs at a time when we need well over 100,000 new jobs a month just to stay even. Estimates for this year project 133,000 new jobs a month. That leaves 30,000 new jobs a month to eat into a very real 17% un and underemployed employment rate. Expect the "official" unemployment rate to float between 9.5% and 10% this (election)year as new persons will step on to the pier as someone falls off the other end...
So Intel and Apple posted good reports for the fourth quarter and they and other great names rolled over and started south mid January. Check out the chartz.
The weekly chart shows perspective, the daily chart shows where we are in the domestic big cap market, the 401a funds show where my choices stand with/against the markets...
The suspicion has been that Europe is in worse shape than the US for about a year and a half. Now it is starting to show. The markets are herky jerky between fear of serious bad things and the pronouncements that there exists the firm intentions of the EU to seriously consider that something needs to be done and that they may consider that it may become necessary for them to think about who should do it, if they can do it, and are willing to do so.
In the meantime, commodities and stocks go down and it appears that money is leaving stocks and going to bonds and that money is leaving bonds and going to cash and that money is leaving commodities and going someplace...
I'm standing to the side in the 401a. And it ain't an easy choice. All last year, the stock market made "V" shaped recoveries from every rough patch and maybe it will do it again. But that was last year and this is this year. And bonds are promises to pay and not the most comfortable place to be when promises and the future are suspect.
Still, business will be done. It's just that the developed nations are buried under debt and going no place for the time being. It is the emerging nations that will be doing business, but less of it and under some uncertainty.
So for now it looks like rips and dips in stocks as the emotions of fear and greed will jerk the market around the existing trend. And the trend that I see is down.
So I consider that 401a money is not real nimble and that I have to respect the trend.
http://www.ritholtz.com/blog/2010/02/jo ... e-to-last/ http://www.ritholtz.com/blog/2010/02/be ... more-51652
Oh, yeah... 100% GIC and Bonds until further notice.
http://www.bloomberg.com/apps/news?pid= ... &pos=4 http://www.bloomberg.com/apps/news?pid= ... MJFT2dMyIU http://www.bloomberg.com/apps/news?pid= ... amp;pos=10 http://www.msnbc.msn.com/id/35367044/ns ... swer_desk/ http://www.ritholtz.com/blog/2010/02/pr ... -earnings/
http://www.msnbc.msn.com/id/35406859/ns ... d_economy/
Stay tooned....
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"Saving Souls from Buy and Hold" for about fifteen years now. -- Rev Shark
Saturday, January 30, 2010, 03:58 PM
In general, your target is not to beat the market. It is to beat zero. As I have written for years, the investors who win in this market are the ones who take the least damage. -- John Mauldin
Chartz And Table Zup @ www.joefacer.com
Ninety seven percent corporate bonds (American Funds Bond/RBFFX) and Met Life GIC in my 401a. 'Nuf said fer now...
Stay tooned, I'll have more to say later this weekend/week.......
http://www.newsweek.com/id/232796 http://www.msnbc.msn.com/id/35163844/ns ... ork_times/ http://www.msnbc.msn.com/id/35148862/ns ... al_estate/ http://www.bloomberg.com/apps/news?pid= ... RsJycboEUE http://www.msnbc.msn.com/id/35169512/ns ... vironment/ http://www.bloomberg.com/apps/news?pid= ... &pos=4 http://www.ft.com/cms/s/0/772748d6-0e94 ... ck_check=1 http://www.bloomberg.com/apps/news?pid= ... &pos=9 http://www.bloomberg.com/apps/news?pid= ... RsJycboEUE
Sunday Eve
Monday Eve; Low Volume Bounce That's Gonna Soon Fail or The Market Turns Back Up Into 52 Week Highs Again?......Tick Tick Tick...
http://www.ritholtz.com/blog/2010/02/di ... o-default/ http://www.bloomberg.com/apps/news?pid= ... n8uHc.dmcc http://www.ritholtz.com/blog/2009/11/fi ... -to-power/ http://www.ritholtz.com/blog/2010/02/di ... o-default/ http://www.ritholtz.com/blog/2010/02/u- ... nable-gap/ http://www.bloomberg.com/apps/news?pid= ... &pos=4
Thurs Eve
All the way out of stocks in my 401a. The down trend is pretty much been established; There is a fast closing window on re-establishing the up trend. Next level of support is in the 1025 to 1030 range. If we close below that Friday or Monday, it'll be real ugly real quick.....
Once we hit 2010, we rolled over, stuttered for a coupla three four days, bounced into resistance, and rolled over hard. I was too cautious last year and I left a lot of gains on the table. What cost me gains last year appears to have protected my capital this year. I'm down wid dat.....
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AoxoMoxoA... Palindrome Or Conundrum? Threat Or Menace? Juvenile Jackanapes? Or Is It Just Retibulent Praecidualism?
Saturday, December 19, 2009, 02:35 PM
For a substantial portion of the American business and professional class, a book entitled "Life Without Lawyers" must surely conjure some of the same feelings evoked in faithful readers of the Harlequin romances, a sort of vicarious fantasy filled by the joy of liberation from burdens, strictures, and anxieties that have come to define quotidian existence. Such people are, in my experience, called clients. -- Charles N.W. Keckler,
Chartz And Table Zup @ www.joefacer.com
Seeya Raht Here Later This Weekend....
Meantime....
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Saturday, November 28, 2009, 03:01 PM
Surprise, surprise, surprise! -- Gomer Pyle
Chartz and Table Zup @ www.joefacer.com
Another Kick Ass Cover Of A Kick Ass Eddie Cochran Song.... http://www.lala.com/#song/360569479529542632 Click On 20 Flight Rock http://en.wikipedia.org/wiki/Twenty_Flight_Rock
Click It!!
Three year weekly chart. We just had two weeks where we opened up, went up , and finished the week badly. We've done it before during this rally and then gone higher. But valuations are higher and we are coming to the end of the year, and this market is the most hated rally in memory for a reason. I've been overly cautious for much of the year and I'll be right about it sometime. So the idea will be not to get caught too far extended when it does roll over....
The first three days of the week were up and I pretty much lightened up on stocks in my 401a and went to cash and bonds. I really lightened up in my IRA's and trading account.
It worked out well when I wandered out late in the AM Friday and saw what had happened over Thanksgiving Day. It was all about Dubai and some overdue whackage. I dodged the downdraft sleeping off Thanksgiving and lit up the screens near the top of the bounce. I had time to read enough to develop some ideas about what I wanted to do. So I bought some stocks halfway down the last red bar and some more stocks at the bottom of the bar. I gotta plan...
Stay Tooned. More to come this weekend....
Meanwhile, Back At The Ranch...
http://www.time.com/time/nation/article ... -1,00.html http://www.debka.com/headline.php?hid=6394 http://www.nytimes.com/2009/11/29/busin ... f=business http://www.slate.com/id/2236708/ http://www.ritholtz.com/blog/2009/11/fe ... e-wealthy/ http://www.thestreet.com/story/10634076 ... tdown.html http://www.msnbc.msn.com/id/34176802/ns ... _business/ http://www.ritholtz.com/blog/2009/11/im ... ll-hidden/ http://www.businessweek.com/magazine/co ... op+stories
http://www.unews.utah.edu/p/?r=112009-1 http://online.wsj.com/article/SB125934519959366715.html http://www.theglobeandmail.com/report-o ... le1380944/
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The Holiday Season Starts With Thanksgiving. If You have Looked Over The Edge As Many Of Us Have, You Know That Every Yesterday, Today, And Tomorrow Is a Gift. Get The Most Out Of Them And Spread The Largesse Around. Have A Kick Ass Thanksgiving....
Saturday, November 21, 2009, 02:56 PM
Excuses change nothing but make everyone feel better. -- Mason Cooley
Chartz And Table Zup @ www.joefacer.com.
Goin Down..... http://www.youtube.com/watch?v=BHXKlNP4 ... re=related
Lookie Here....
Check out this 3 year weekly chart on the S&P. We established a downtrend in late '07 and then went into a precipitous cascade down starting in October '08. The freefall quickly slowed into a sickening dive that ended in March '09. That was a huge oversold panic drop that led to markets and equities priced for the end of time by the end of '09. You don't need inventory or employees going into the end of time so businesses got really lean really sudden and the reduced revenues from people who still had jobs, savings, or credit, went straight to the bottom line. There were profits to report. The Fed and the Treasury cranked up the presses and flooded the world with cash at 0%. Nobody wanted to fund businesses or buy real estate so the money went into liquid (financial and commodity) paper assets. Everything got a bid. The markets went up on low volume and in an atmosphere of fear. As markets went up, participants were dragged in kicking and screaming, one at a time, moving the markets up more. Wash,rinse, repeat... It is still ongoing...
The weekly trend is up and continues up. There have been consolidations and corrections, but if you weren't long, you were wrong. I am now pretty much long stocks pretty much late in the year and pretty late in the move...
Check out this 8 month daily chart. The trend is still up, but we have had a coupla touches of the uptrend line with relaunches from there. We've also had a major reset at the end of October. The technicals still look good and Monday we gapped up hard in the AM. The economy hasn't mattered since March. Someday it will matter again. The longer it doesn't, the sooner it will. The reset was a first crack in the wall. The almost daily confirmation that the Fed and Treasury have the economy on a high pressure force fed diet of free cash and is aware of the risk of slowing the flows for even a moment is keeping what launched the economy off the bottom in place. It is The Infinite Intervention vs The Great Unwind at the start of an election year. The risks are huge. I reduced my exposure to stocks Friday and I may do so again even with the markets up.
When it's late and the party is really really wild, ya gotta edge toward the door whether you can hear the sirens yet or not....
Meanwhile, Back At The Ranch...
http://www.bloomberg.com/apps/news?pid= ... sHAD0w1egE http://www.bloomberg.com/apps/news?pid= ... &pos=4 http://www.istockanalyst.com/article/vi ... id/3633323 http://www.ritholtz.com/blog/2009/11/ho ... of-the-us/
Why I've been in too much cash/bonds and not not enough stock... http://cohort11.americanobserver.net/la ... final.html
http://www2.debka.com/headline.php?hid=6384 http://www.msnbc.msn.com/id/34067419/ns ... ssweekcom/ http://www.bloombergnews.com/apps/news? ... &pos=7 http://www.dailymail.co.uk/sciencetech/ ... world.html http://www.bloomberg.com/apps/news?pid= ... tisP2sqI2I http://www.msnbc.msn.com/id/34103722/ns ... ork_times/ http://www.bloomberg.com/apps/news?pid= ... &pos=1 http://www.ritholtz.com/blog/2009/11/bi ... -failures/
These Links Help You To Understand What I See.... http://www.aspousa.org/index.php/2009/1 ... eally-bad/ http://peakwatch.typepad.com/peak_watch ... round.html http://www.ritholtz.com/blog/2009/11/do ... s-soaring/ http://mpettis.com/2009/11/lecturing-ea ... -on-trade/
http://www.ritholtz.com/blog/2009/11/ex ... ap-condos/ http://www.ritholtz.com/blog/2009/11/th ... americans/
http://www.ritholtz.com/blog/2009/11/fe ... e-wealthy/ http://www.ritholtz.com/blog/2009/11/im ... ll-hidden/
http://www.ritholtz.com/blog/2009/11/th ... t-veteran/ http://www.marketwatch.com/story/15-sig ... 2009-11-24
Stay Tooned....
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