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Seriously, does anyone know what's up with Lee? His last posts have been short, or cryptic or proxies by Plugger. Has he decided to follow cannabis out the door?
The Turnip Patch seems to be careening down the highway on the wrong side of the road - someone give Lee Kramer a shake and tell him to get his hands back on the wheel and his foot on the brake
byankee, one of the most reliable indicators has now insured that we are slowly drifting back to recession: Yesterday, Larry Kudlow pronounced that the economy and the market are just fine
Healthcare food for thought:
46.3 million people did not have health insurance in 2008. (US Census Bureau)
62.1 percent of all US Bankruptcies in 2007 were related to medical expenses. (The American Journal of Medicine)
Out of the 193 member states of the World Health Organization, the United States ranked #1 in per capita health care expenditures - $6,719 (WHO)
The United States is one of the few developed nations in the world that does not guarantee health coverage.
(Private Health Insurance in OECD Countries:The Benefits and Costs for Individuals and Health Systems)
What keeps Bernanke up at night:
http://s.wsj.net/public/resources/images/OB-SJ216_smroi0_NS_20120326130640.gif
From John Hussmans weekly missive:
I hear you - just dumped my helping of VXX at a loss. Complacency is at near record levels but my timing was off. Happy Happy Joy Joy! chants Stimpy
More funnies: The Republican Reality Show
http://tinyurl.com/79eb8rg
Pants, still holding SDS FEB 12 calls - time value slip sliding away. Still hope to extricate myself from this position with a profit, but this market has been a tough nut to crack lately
Pants, did you get stopped out of SDS? I'm still long FEB 12 calls.
Always a good read - I've stashed most of my cash in HSTRX: 9 years up, 0 years down, approx 7.5% return since inception.
Here's a good article on the 2012 trading environment:
http://www.decisionpoint.com/TAC/DUARTE.html
Also, if the bond mavens downgrade Europe this week the happy happy joy joy we've seen today will evaporate like virga.
Exactly. EOM.
All of Paterno's football wins don't amount to a hill of beans in light of this scandal - it's just a dumb game that produces profits for the University. Children were being raped and Paterno did nothing to protect them. If the coward had gone directly to the police his pedophile buddy would have been stopped, end of story. Paterno and his cronies just didn't get it, and the victimized children suffered because of their reticence.
Speaking of bailouts, Hussman's weekly missive puts them in perspective in a most interesting way:
http://www.hussmanfunds.com/wmc/wmc111024.htm
It's a must read.
Great chart, but I'm think QQQ is heading sub $50. EOM
I was there zab - slept on the ground under the Washington Monument. Was shot at with rubber bullets. Slept in a university professors house in Georgetown when his activist daughter offered us shelter. Interesting times.
Lee, I buy each season as soon as it becomes available. Cringe worthy laugh out loud goodness. Larry showing up to boink his orthodox laundress with a sheet with a strategic hole had me ROFL.
I loved how George donned oven mitts to protect his newly discovered assets .
All cash except HSTRX - Something Wicked This Way Comes...
Agree, but I expect an end of day flush - weekend will be perceived as a bull trap. I have some buy orders in at apocalyptic prices - fullness of time etc, etc.
Wow, just back from a 5 week vagabond vacation in Europe - ugh, the older you get the longer it takes to get back into temporal re-alignment, or so it seems. Recharged the quantum brain bits by hiking the high Alps in Chamonix, sipping Pastis in Avignon, hanging out in my favorite Paris cafes, and staying on a working farm in Normandy where my French language skills were challenged daily. Didn't access my trading accounts but I'm pleased to see that my only open holding of HSTRX was up during all the tumult. My Krugerrands gained some extra luster as well. Anyway, getting ready to move into a bunch of select utilities during the next dumping if I can stay awake long enough
How bout them Padres!
The CCC & WPA projects of the late 30s & early 40s have stood the test of time. I'm always amazed when negotiating the back alleys of Pittsburgh architecture to see the graceful stone walls, railway arches, and other remnants of these programs still standing. Instead of dumping billions down the military black holes of Iraq & Afghanistan we could have put millions back to work shoring up our infrastructure. And, I agree with you Newly about bailing out the feckless - nobody offered to help me with my 1982 13 1/2% negative amortization mortgage - I just lived below my means and worked it out on my own. Self sufficiency is its own reward.
Keep your eye on SPX 1250 - IMHO, that's where we will get a respectable bounce. Longer term, I think we may go lower.
Hussman's take on current economy:
Interesting two year range on MIPS: Low of $1, High of $17. Just for giggles I checked a few ratings - TDAmeritrade has an "avoid" rating, while The Street indicates a strong buy. Of course, your own Due Diligence is all that really matters. Good luck, hope it turns your way soon.
I think the bears are about to have a good run, so where did Cannabis go? It looks like his "never goes down" market may be on the cusp of a magnetic field reversal.
Lee, looked at the GFRE chart - I think there is a possibility it will see $2 before $5.
Final piece of the Seinfeld quote:
Observations on the Dollar vs the Market.
On May 12 I posted:
To add some context, the beginning of the quote was:
Watch the dollar - the $USD has poked it's head above the 50 day moving average and the RSI(30) is currently sitting at 49.18. IMO, if the 50 SMA tests successfully and the RSI(30) reaches 50+, the dollar is going to jump. That should presage the the next leg down in the market.
Interesting take on QE in John Hussman's latest missive:
It's 1966 and I'm 14 years old and Marjorie finally consented to go with me to Kennywood Amusement Park. Kennywood, known for it wooden coasters, is one of those old world family owned parks that's still in existence today. Anyway, we decided to ride the Thunderbolt, one of the fastest roller coasters of its time, and I figured the fear factor would lead to some potential snuggling opportunities. This was my first date with her, and in order to up my cool factor I was wearing a large brass medallion hung from a chain around my neck. Well, things were going well until the coaster hit the giant dip - my medallion levitated straight up until we hit the next climb where it smacked into my forehead and opened up a gash that splatted Marjorie, and her new dress, with lots of bright red blood. Sigh....my first and last date with Marjorie. Remember it like yesterday