A lack luster recovery for sure…..

Even if they print money at some point it is one big cluster fuck where solutions are only temporary…just like our can kicking ways.

While remaining bullish he is worried about the lack of progress in Europe.

Don’t fade Paul just yet….

In an interview Buffet gave a subtle push for Romney by stating he is not going to pay more than the law requires.

A change in attitude from Krugman

Gapping up

MFN +23.3%, NBG +6.1%,  CS +2.5%,  RIMM +5.3%, ING +1.7%, RBS +1.7%, DB +3.5%, AXL +2.2%, UBS +2.2%, BAC +1.8%, BP +1.5%, UXG +3.6%, CHK +3.1%,

SVM +1.9%, KGC +1.9%, SLW +1.6%, RIO +1.2%, AG +1.1%, SLV +0.9%, GLD +0.4%, BBL +0.4%, GDX +0.3%, PVA +2.9%, SWN +2.5%, BP +1.7%, FST +1.7%,

COG +1.6%,

Gapping down

CBRX -58.2%, IGOI -27.1%, CCL -3%, HAL -1%, GAME -19.5%, COP -0.9% , PG -0.5%,  FSC -4.2%

Source

Amgen Corporation (NASDAQ: AMGN) Cut to Neutral at JPMorgan.
Comerica Inc. (NYSE: CMA) Cut to Neutral at Susquehanna.
ConocoPhillips (NYSE: COP) Cut to Sell at UBS.
Google Inc. (NASDAQ: GOOG) Reiterated Buy with $730 price target at Argus.
Jive Software, Inc. (NASDAQ: JIVE) Started as Buy at Citigroup; Started as Neutral at UBS; Started as Outperform at Wells Fargo; Started as Overweight at Morgan Stanley.
Johnson Controls Inc. (NYSE: JCI) Cut to Equal Weight at Barclays.
NuVasive, Inc. (NASDAQ: NUVA) Raised to Buy at Canaccord Genuity.
Procter & Gamble (NYSE: PG) Cut to Hold at Stifel Nicolaus.
PulteGroup (NYSE: PHM) Cut to Equalweight at Barclays.
Research in Motion Ltd. (NASDAQ: RIMM) Raised to Hold from Sell at Deutsche Bank; Reiterated as Hold at Canaccord Genuity.
Sanchez Energy Corporation (NYSE: SN) Started as Buy at Canaccord Genuity; Started as Buy at Stifel Nicolaus.
SIRIUS XM Radio Inc. (NASDAQ: SIRI) Cut to Equal Weight at Morgan Stanley.
ViroPharma Incorporated (NASDAQ: VPHM) Cut to Neutral at JPMorgan.

In Play

On the Wires

“THE MARKET HAS COME A LONG WAY in a little while. McMillan Analysis pointed out Friday that the Standard & Poor’s 500 was three standard deviations above its 20-day average, which tends to portend at least a short, sharp reversal.

The publicity-shy investment pro known here over the past couple of years as the “mystery broker” came into the year a nervous bull, long stocks but keeping the market on a short leash as he awaited confirmation from the tape to determine if it remained a bull market. Those criteria of cyclical, risky-stock leadership, mentioned above, have checked out, yet he’s tactically cautious.

Full article

Charity alone will not solve the world’s problems. Capitalism can help and at the same time put people back to work. There has always been a gap between what the government can provide and what the private sector can produce, a gap charities have long helped to fill. But as our world and economies evolve, we have an opportunity and a responsibility to reconsider how to fill this gap – to rethink the relationship between economic and social challenges, so that benefits and opportunities are available to more people.

Read the rest here.

Full report

Gapping up

INTC +0.5%,KGC +1.2%, CLGX +10%, GALE +11.3%, SWKS +6.3%, MPC +4.6%, ZOLL +4%, CTIC +3.5%, BCS +3.5%, CLD +3%, IBM +2.1%, MSFT +2.1%, IBKR +1.8%,

RBS +3.9%, HBC +0.9%, DB +0.6%,

Gapping down

NCIT -19.7%, GOOG -8.1%, HTGC -4.6%, ISRG -4.6%, ZIOP -4.5%, COF -4.4%, MMLP -4.2%, BWP -4.1%, ARCC -3.7%, CCL -3.5%, MT -3.3%, EZPW -2.9%,

SQNM -2.4%, WLL -2.4%, AXP -2.1%, TOT -1.8%, BIDU -1.6%, BP -1.6%, GPS -1.3%, E,

Source

BlackRock Inc. (NYSE: BLK) Cut to Neutral at Citigroup.
EMC Corporation (NYSE: EMC) Reiterated Outperform at Credit Suisse.
Google Inc. (NASDAQ: GOOG) Maintained Buy but cut target to $700 at Canaccord Genuity.
Humana Inc. (NYSE: HUM) Cut to Market Perform at Wells Fargo.
ICICI Bank Ltd. (NYSE: IBN) Cut to Underperform and named Bear of the Day at Zacks.
Intel Corporation (NASDAQ: INTC) Cut to Hold at Kaufman; Reiterated Outperform and raised target to $35 at Credit Suisse; Maintained Hold with $24 target at Canaccord Genuity.
JDS Uniphase Corporation (NASDAQ: JDSU) Raised to Buy at Stifel Nicolaus.
Johnson Controls Inc. (NYSE: JCI) Cut to Neutral at JPMorgan.
NCI. Inc. (NASDAQ: NCIT) Cut to Underperform at Wells Fargo.
Tsakos Energy Navigation Ltd. Co. (NYSE: TNP) Raised to Outperform at Credit Suisse.
Texas Instruments Inc. (NASDAQ: TXN) Cut to Hold at Needham.
Tractor Supply Co. (NASDAQ: TSCO) Reiterated Buy and raised target to $92 at Argus.
Valero Energy Corporation (NYSE: VLO) Reiterated Buy with $35 price target at Argus.
Western Union Co. (NYSE: WU) Reiterated Outperform as Bull of the Day at Zacks.

Carnival Corporation (NYSE: CCL) and Royal Caribbean Cruises Ltd. (NYSE: RCL) lowered targets and estimates by Credit Suisse.

In Play

On the Wires

“Most everyone agrees the global capitalist system has failed on two main counts–growth and fairness, writes PIMCO CEO Mohammad El-Erian in a column published today in the Financial Times.

He argues that continuing failure to address both (not just one) of these problems not only constitutes a “crisis,” but “raises legitimate questions about the model itself.”

If the system is going to continue, three things have to happen:

• Capitalism is prone to occasional market failures, and the world has to accept this.
• Global imbalances, created by the rise of countries like China, have become unsustainable and must be addressed.
• Global institutions must transform to fairly represent the global population in order to adequately recognize and deal with problems.

He concludes:

Each of these areas can be corrected. Theoretically at least, what has occurred is less a calamity of the system as a whole, and more an issue of how it was run. Yet, four years into the crisis, little has been done to repair the damage coherently and comprehensively and to safeguard the real victims, let alone counter the risk of further costly dislocations. Until this is done, it will be difficult to convince the world that capitalism itself is not the problem.

Read El-Erian’s full editorial here >“

Fucking dead….

Bailed out banks should not think this way…..

Apple had missed some shipments of the i Phone 4s and their store front was pelted with eggs for it in Beijing. Perhaps Samsung will benefit from this in their next q.

Full article

“Copper traders are the least bearish in a month as the metal has its best start to a year since at least 1987 and stockpiles tracked by the world’s biggest metals exchange were poised to slump to the lowest in 3 1/2 years.

Fourteen of 30 analysts surveyed by Bloomberg expect the metal to decline next week, the lowest proportion since Dec. 23. Three were neutral. Prices reached a four-month high of $8,428.50 a metric ton today, taking this year’s advance to 11 percent. Inventories (LSCA)tracked by the London Metal Exchange are already the smallest since December 2010 and existing orders to withdraw metal may reduce that to the lowest since July 2009.”

Full article