All day people are complaining to me about today’s tape. “Tech is soft.” “Oil is down.” Are you even listening to what the market is saying to you?
Yes, it’s true, select sectors are catching knife punches to the scrotum. However, others are doing well. Plus anyway, is there really much to worry about while the dollar plummets? We love that shit, here on Wall Street. In my estimation, this is a garden variety sell off, typical end of month bullshit. However, I do believe we will see rotation; out with the old, in with the new.
Bottom line: we’re still going higher, only this time different stocks will lead the way.
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Like maybe.. GMCR?
out here tryna get it, each and every way
Jimmy Bowtie is long dollars … fwiw
http://www.businessinsider.com/jim-rogers-saudis-oil-supply-2011-2
I concur
Stop that swearing right now young man. You are not so old that I can’t go over there and wash your mouth out with soap. By the way, I made some cannoli for you and I will drop them off on the way to my weekly Briscola game.
Fly-
You mentioned a number of days ago that one should provide a cogent explanation for the WTI-Brent spread, and other than the incessant speculative remarks I’ve read, here’s a pretty good one from the DOE.
http://news.goldseek.com/GoldSeek/1297235340.php
So, Canada’s trade picture is actually getting a “double whammy” – Exporting CHEAP, UNDERPRICED HIGH-GRADE crude to the U.S. and Importing more EXPENSIVE LESSER-GRADES
do you believe this and why?
As mentioned the first time you posted the link (thanks by the way), that article is complete bullshit. The tinfoil hat brigade is out in full force.
“Canada is locked into a staggeringly lopsided deal with the U.S. under the North American Free Trade Agreement (NAFTA). The deal stipulates that Canada can never cut back on the volume of oil that it ships south. No matter how desperate our needs might become, we are trumped by Brian Mulroney’s gift that keeps on giving – to his American friends.”
http://www.cep.ca/clipping/canada-must-rethink-value-shipping-oil-south
http://findarticles.com/p/articles/mi_7497/is_201005/ai_n53932791/
We’ll have to wait and see how this plays out longer term, but I suspect that taking advantage of Canada’s oil via NAFTA is the primary reason for the Brent/WTI spread. As the first link suggests.
JTU sells AG, EXK, NGD and BORN.
Shaken out!
____
Not shaken, only stirred!
Took some profits and hope to rinse and wash all over again!
word. i’m staying with the trend until it ends.. buying all dips in size and using tight stops then just watching as my profits melt up with the market.
In silver big, for the long haul. Don’t see how this could ever really go bad considering the IMF, World Bank and BIS have the USD on their hit list. She can dip all she wants, I’ll still be in even if silver goes to zero.
I got the Bear Blues. Copper was hitting a test of resistance of 50% recent movement, then a earthquake in Chilie last night spikes up copper. Yes, it is on super low volume and the entire NYSE move today is on low volume, but it really is hard for this bear who was ready for the Dollar Short, Commodity Long theme to be finally over. For tonight we get the PMI’s from all over the world coming out, including the two from China. IMHO the run up in their market last night suggest the data was leaked already, we will see….until then I will just sit and grrrrrrrrrr.
Ben must have ordered an earthquake just to mess with your analysis.
Are you actually Gary Shilling? I’m reading his book right now.
Read the required reading list of links in this guys page starting with FOFOA.
http://harveyorgan.blogspot.com/p/required-reading.html
Nope not Gary Shilling, have never even met him either. All female, but just like good comedy, timing is everything for this market, and OMG my timing is horrible. I know it was BEN and his Earthquake Machine that did it!!!!. Volume on NYSE actually surged into the close. Go2Mars the reading list does look like fun, I will read thru them later.