I’m looking for an outside chance of 1325 S&P. Of course 1265 and 1280 must be breached in a meaningful way. Or The PPT needs to give us a overbought reading on the SPY. Either way I’m stalking the market.

At any rate, get this take on Europe…

Use cash for trans-actionable value and or pay down debt. Larger investors should look into start ups.

Full article

Obama has raised more money from Wall Street banks than all 8 republican candidates combined.

http://www.youtube.com/watch?v=hgVrUv9A3XE

Correcting a problem starts with education, morality and ethics. Screw this Robin Hood tax.

Full article

ROFL

Let’s hope Europe does get tit together

From Z.H.

As the attached chart showing USD liquidity swap line usage by the ECB, or more specifically by European banks, we have now seen a surge to levels last seen in August 2009. However, more importantly this is where the usage was for the first time after the failure of Bear Stearns, and when everyone thought all had been fixed… until Lehman came. We are there now, in other words, we have just experienced a behind the scenes Bear-type event. What is disturbing is just how fast the rate of change was this time around compared to before, when it took months to get to $50 billion. Now, it was one week. When “Lehman v2.0” hits and it will hit, the next step function in the Fed’s global bailout will be so big and so fast, it will induce vertigo.

Some December market stats 

Four reasons to expect a Santa rally

“GMO Chairman Jeremy Grantham says we’ll have at least five more lean years.

“Sadly, I feel increasingly vindicated by my “seven lean years” forecast of 2½ years ago,” Grantham writes in a note to investors.

“The U.S., and to some extent the world, will not easily recover from the current level of debt overhang, the loss of perceived asset values, and the gross financial incompetence on a scale hitherto undreamed of.”

Full article

Political Risk is #1; click here to see the rest

These are some of the top analyst upgrades, downgrades, and initiations seen from Wall Street research calls this Wednesday morning.

Allstate Corporation (NYSE: ALL) Started as Outperform at Credit Suisse.
Amazon.com Inc. (NASDAQ: AMZN) Started as Hold with $225.00 price target “due to low margins through 2012″ at Canaccord Genuity.
The Blackstone Group LP (NYSE: BX) Raised to Buy with $20.00 price target at Argus.
CenturyLink, Inc. (NYSE: CTL) named as value stock of the day at Zacks.
Chubb Corporation (NYSE: CB) Started as Outperform at Credit Suisse.
Darden Restaurants Inc. (NYSE: DRI) Cut to Hold from Buy at Argus.
Freescale Semiconductor Inc. (NYSE: FSL) Reinstated as Outperform at Credit Suisse.
GeoResources, Inc. (NASDAQ: GEOI) Started as Buy with $43 price target “on a concentrated Eagle Ford/Bakken exposure” by Canaccord Genuity.
Google Inc. (NASDAQ: GOOG) was initiated with a ‘Buy’ rating and $725.00 price target “on robust growth and great value” by Canaccord Genuity.
JDS Uniphase Corporation (NASDAQ: JDSU) Started in new coverage as Buy with a $14.75 price target at Jefferies.
LinkedIn Corporation (NYSE: LNKD) Started as Buy with $85 price target as “growth trumps valuation” by Canaccord Genuity.
Peabody Energy Corporation (NYSE: BTU) Downgraded to Neutral from Buy with $43 price target by Goldman Sachs.
Public Service Enterprise Group Inc. (NYSE: PEG) Downgraded to Neutral from Buy with $33 price target at Goldman Sachs.
Quest Diagnostics Inc. (NYSE: DGX) Started as Hold with $51 target at Auriga.
The Talbots, Inc. (NYSE: TLB) maintained Neutral with $3.00 fair value by Janney Capital Markets.
Travelers Cos. Inc. (NYSE: TRV) Started as Outperform at Credit Suisse.
Unisys Corporation (NYSE: UIS) Raised to Outperform as Bull of the Day at Zacks.
UnitedHealth Group Inc. (NYSE: UNH) added to the US Focus List at Credit Suisse.
Urban Outfitters, Inc. (NASDAQ: URBN) Maintained Neutral with $23.00 price target at Janney Capital Markets.
Willis Group Holdings, PLC (NYSE: WSH) named Bear of the Day at Zacks.

 Source

Gapping up

TLB +76.3%, MIND +16.3%, MW +9.4%, OXGN +18.6%, MW +7.8%, ESIC +6.9%,  YHOO +0.4%, NCS +5.4%,

AVAV, MON +1.8%, VTSS +8.3%, GALE +27.8%, FSLR +4.1%, AVAV +1.9%, MSO +28.2%,  CRZO +3.2%, RIO +1.7%,

NFLX +1%, JDSU +0.8%, DUK +1.1%, CRK +2.1%,

Gapping down

FRO -7.1%, FNFG -5.7%, ING -4.5%, DB -3.6%, STD -2.6%, DG -1.4%BCS -2.4%, CS -2.3%, HCC -1.4% ,  CMM -18.6% ,

JAG -3.3%, SSRI -2%, SLV -1.8%, AU -1.2%, GLD -0.5%, LYG -1.8%, C -1.6%, UBS -1.6%, BRO -1.7% ,  CTIC -3.8%,

MS -1.1%, PLAB -4.5%, VRA -4.3%, BTU -1.8%, EXPR -1.6%, PCX -2.0%,  FAST -1.2%, ANR -1.7%, WLT -1.2%,

FRO -7.1%,  NOK -2.4%, FNFG -5.7%, EXPR -1.6%,

In Play

On the Wires

“There have been a series of recent articles–one just last week–concerning the Federal Reserve’s emergency lending activities during the financial crisis.  These articles have largely repeated the same information in different formats, and have contained a variety of egregious errors and mistakes.”

Bernanke, who said the media is wrong by calling the Fed’s lending activities “secretive,” also corrected Bloomberg Market’s math.

“Second, one article asserted that the Federal Reserve lent or guaranteed $7.7 trillion during the financial crisis.  Others have estimated the amounts to be $16 trillion or even $24 trillion.  All of these numbers are wildly inaccurate…”
Full article

Perhaps we should change now that most Americans realize all the tinkering going on.

Full article

“Just wait; were all going to pay the price.”

Perhaps this weeks news flow will change his mind, but for now here is a piece of why there is no reason to own stocks.

Full article

“…..No Market for Young Men.” Historians would notice that all major equity bubbles (like those in the U.S. in
1929 and 1965 and in Japan in 1989) broke way below trend line values and stayed there for years. Greenspan, neurotic about slight economic declines while at the same time coasting on Volcker’s good work, introduced an era of effective overstimulation of markets that resulted in 20 years of overpriced markets and abnormally high profit margins. In this, Greenspan has been aided by Bernanke, his acolyte, who has continued his dangerous policy. The first of the two great bubbles that broke on their watch did not reach trend at all in 2002, and the second, in 2009 – known by us as the fi rst truly global bubble – took only three months to recover to trend. This pattern is unique. Now, with wounded balance sheets, perhaps the arsenal is empty and the next bust may well be like the old days. GMO has looked at the 10 biggest bubbles of the pre-2000 era and has calculated that it typically takes 14 years to recover to the old trend….”

Full article and chart porn

From NBR December 5th. To access the pice skip to 9 minutes and 15 seconds