Jim Rogers: US Falling Into ‘Deeper Trouble,’ Faces 2013 Depression
When the depression does not come will the forecast be pushed out another year or two ?
Comments »Hussman: Wall Street Becoming a ‘Glorified Crack House’
“Economist and fund manager John Hussman says that Wall Street is “becoming little more than a glorified crack house.”
“Day after day, the sole focus of Wall Street is on more sugar, stronger sugar, Big Bazookas of sugar, unlimited sugar, and anything that will get somebody to deliver the sugar faster,” Hussman writes in a note to investors.
“This is like offering a lollipop to quiet down a 2-year old throwing a tantrum, and expecting that the result will be fewer tantrums.”
Comments »Gapping Up and Down This Morning
Gapping Up
FRO +27.1%, NNN +2%, THOR +4.2%, MMM +1.3%, RIG +2%, SD +1.2%, NVS +0.8%, GSK +0.7%NATH +10.6%,
ONE +4.4%, ING +2.4%, PPHM +18%, LEAP +1.4%, SDRL +0.3% AGO +1%, BP +0.9%, NATH +5.9%, MDW +2.4%,
EXPE +1% , E +1.2% , CY +2.7% , MDW +2.4%, FLR +0.9%, GE +1.3%,
Gapping Down
DRI -8.1%, EXAS -4.9%, CLWR -4.4%, MT -1.3%, NS -4.5%,
Comments »In Play and On the Wires
Upgrades and Downgrades This Morning
Upgrades
LRN – K12 initiated with a Outperform at Barrington Research
ALB – Albemarle initiated with a Buy at Sterne Agee
FFIV – F5 Networks target raised to $110 at Wunderlich
GE – General Electric upgraded to Outperform from Market Perform at Bernstein
RAM – RAM Energy Resources initiated with a Accumulate at Global Hunter Securities
ACE – ACE Limited upgraded to Buy at Ticonderoga
HOLI – HollySys initiated with a Buy at Citigroup
CRI – Carter Holdings upgraded to Buy from Neutral at Goldman
ALLT – Allot Comms initiated with a Buy at Jefferies
DCO – Ducommun initiated with a Buy at EarlyBirdCapital
ALK – Alaska Air initiated with a Market Perform at Raymond James
VCI – Valassis initiated with a Buy at Lazard
TXN – Texas Instruments upgraded to Outperform from Market Perform at JMP Securities
EBAY – eBay named a long Research Tactical Idea at Morgan Stanley
GSVC – GSV Capital initiated with a Buy at Ladenburg Thalmann
MWW – Monster Worldwide initiated with a Buy at Lazard
CP – Canadian Pacific upgraded to Equal Weight from Underweight at Barclays
MO – Altria Group initiated at Deutsche Bank
LNKD – LinkedIn upgraded to Overweight from Equal Weight at Morgan Stanley
AOS – A.O. Smith initiated with a Buy at Sterne Agee
NEU – NewMarket initiated with a Neutral at Sterne Agee
SLGN – Credit Suisse initiates the Packaging and Containers Sector with an Overweight
E – ENI S.p.A. upgraded to Buy from Hold at Deutsche Bank
PCS – PCS – MetroPCS upgraded to Outperform from Market Perform at William Blair
CNI – Canadian Pacific upgraded to Equal Weight from Underweight at Barclays
NVLS – Novellus initiated with an Outperform at Credit Agricole
WTS – Watts Ind initiated with a Buy at Sterne Agee
MLM – Martin Marietta initiated with a Buy at Sterne Agee
TLLP – Tesoro Logistics LP upgraded to Strong Buy from Outperform at Raymond James
NPO – Enpro Industries initiated with a Buy at Sterne Agee
ASTE – Astec Industries initiated with a Buy at Sterne Agee
Downgrades
THQI – THQ Inc downgraded to Neutral from Outperform at Cowen
TSO – Tesoro named a short Research Tactical Idea at Morgan Stanley
STO – Statoil ASA downgraded to Hold from Buy at Deutsche Bank
PDCO – Patterson Companies initiated with a Hold at Deutsche Bank
OPEN – OpenTable initiated with a Neutral at Piper Jaffray
CX – CEMEX S.A. initiated with a Neutral at Sterne Agee
ADS – Alliance Data downgraded to Neutral from Overweight at Piper Jaffray
UTIW – UTI Worldwide downgraded to Neutral from Buy at Suntrust
IR – Ingersoll-Rand downgraded to Neutral from Buy at Sterne Agee
ADTN – ADTRAN downgraded to Sell from Neutral at Goldman
LMOS – Lumos Networks initiated with an Outperform at RBC Capital
TXI – Texas Industries initiated with an Underperform at Jefferies
HSIC – Henry Schein initiated with a Hold at Deutsche Bank
HUN – Huntsman downgraded to Hold from Buy at Jefferies
EXP – Eagle Materials initiated with a Neutral at Sterne Agee
IP – Credit Suisse initiates International Paper with at Market Weight
USG – USG initiated with an Underperform at Sterne Agee
CNI – Canadian Natl Rail downgraded to Underweight from Equal Weight at Barclays
VMC – Vulcan Materials initiated with a Neutral at Sterne Agee
ITC – ITC Holdings downgraded to Neutral from Outperform at Credit Suisse
Comments »Chicago Fed President Charles Evans Says the Fed Must Stimulate the Economy Immediately
Lunch Break: Europe Applies the Leaches
Mutant state-ist corporatism
[youtube://http://www.youtube.com/watch?v=vGQIxYfKKtc 450 300] Comments »Cyber Monday Posts its Best Consumer Spending Results Yet; Amazon a Likely Winner
Barclays Out With a Fresh Look for 2012 (video)
The Highest Rated Forecasters Give Their View for 2012
Art Cashin Speculation: Coordinated Central Bank Action Was to Save U.S. Money Markets
Upgrades and Downgrades This Morning
Upgrades
TTWO – Take-Two upgrade to Outperform at Pacific Crest
TIVO – TiVo initiated with a Buy at UBS
SAP – SAP AG upgrade to Outperform at Pacific Crest
AGO – Assured Guaranty initiated with a Buy at BTIG Research
BWP – Boardwalk Pipeline upgraded to Outperform at Morgan Keegan
AEO – American Eagle upgraded to Outperform from Market Perform at BMO Capital
NBR – Nabors Industries upgraded to Outperform from Market Perform at BMO Capital
MSM – MSC Industrial initiated with a Buy at UBS
RIG – Transocean upgraded to Outperform from Market Perform at BMO Capital
TWC – Time Warner upgraded at Stifel
AEO – American Eagle upgraded to Equal Weight from Underweight at Morgan Stanley
WSH – Willis Group upgraded to Buy from Neutral at Citigroup
CMCSA – Cable and Comcast upgraded at Stifel
LNKD – LinkedIn upgraded to Equal Weight from Underweight at Evercore
RY – Royal Bank of Canada upgraded to Buy from Hold at Canaccord Genuity
GCI – Gannett upgraded to Buy from Neutral at Lazard
OMER – Omeros upgraded to Mkt Outperform at Rodman & Renshaw
IGT – Intl Game Tech upgraded to Buy at boutique firm
EXR – Extra Space Storage upgraded to Neutral from Sell at UBS
TEL – TE Connectivity upgraded to Buy from Neutral at Goldman
BPZ – BPZ Energy upgraded to Buy from Neutral at Suntrust
UHS – Universal Health upgraded to Positive from Neutral at Susquehanna
PPO – Polypore Intl upgraded to Buy from Hold at BB&T
MSCC – Microsemi initiated with a Neutral at Goldman
HOLX – Hologic resumed with a Buy at Needham
TWC – Time Warner Cable upgraded to Outperform from Market Perform at Wells Fargo
DHI – DR Horton upgraded to Overweight from Equal Weight at Barclays
ACTV – Active Network initiated with a Buy at UBS
SNDK – SanDisk initiated with a Buy at Nomura
WIRE – Encore Wire initiated with a Accumulate at Global Hunter Securities
CLF – Cliffs Natural Resources initiated with a Buy at Goldman
MPWR – Monolithic Power upgraded to Overweight from Equal Weight at Evercore
DOLE – Dole Food upgraded to Outperform from Market Perform at Wells Fargo
CIE – Cobalt International Energy initiated with a Buy at Deutsche Bank
HMA – Health Management upgraded to Outperform from Market Perform at Leerink Swan
TSRX – Trius Therapeutics initiated with a Outperform at Oppenheimer
CCIX – Coleman Cable initiated with a Accumulate at Global Hunter Securities
Downgrades
BNS – Scotiabank downgraded to Hold from Buy at Canaccord Genuity
DWA – Dreamworks Animation downgraded to Neutral from Overweight at Piper Jaffray
INCY – Incyte downgraded to Neutral from Buy at Citigroup
RAX – Rackspace initiated with a Neutral at Collins Stewart
AA – Alcoa downgraded to Neutral from Buy at Goldman
MOLX – Molex downgraded to Neutral from Buy at Goldman
VLO – Valero Energy downgraded to Hold at The Benchmark Company
CRH – CRH Plc. downgraded to Underweight from Neutral at HSBC
CBI – CB&I removed from Conviction Buy List at Goldman
KDN – Kaydon downgraded to Hold from Buy at Keybanc
MU – Micron initiated with a Neutral at Nomura
GM – General Motors initiated with a Neutral at Piper Jaffray
CVC – Cablevision downgraded to Market Perform from Outperform at Wells Fargo
SFSF – SuccessFactors downgraded to Average at Caris following SAP acquisition offer
FSS – Federal Signal downgraded to Hold from Buy at Keybanc
STM – STMicroelectronics downgraded to Reduce from Neutral at Natixis
ADSK – Autodesk downgraded to Sell from Neutral at Goldman
TCO – Taubman Centers downgraded to Neutral from Buy at UBS
ULTI – Ultimate Software downgraded to Hold from Buy at Canaccord Genuity
KOS – Kosmos Energy initiated with a Hold at Deutsche Bank
PZZA – Papa John’s downgraded to Sell at Feltl & Co
Comments »Gapping Up and Down This Morning
Gapping up
GM +1.3%,FRO +19.7%, TLEO +10.4%, LYG +10.5%, ETR +0.3%, BCS +5.4%, STD +3%, SPLS +2.6%,SDRL +2.9%,
BAC +2.8%, CS +2.6%, TS +2.6%, DB +2.3%, NAT +7.1%, OSG +2.6%, HBC +2.2%, XOM +1.1%, BP +1.2%, MO +1.2%,
SD +2.%, SDRL +2.6%, E +2.5%, WFT +2.3%, ING +4.9%, IRE +4.1%, CHK +1.8%, NBR +1.4%, MS +2.7%, CS +2.6%,
DB +2.3%, HBC +2.2%, C +2.2%, UBS +1.6%, DG +3.4%, MET +1.1%
Gapping down
REGN -4.8%, SAP -1.6%, FSIN -3.5%, RIMM -1.9% , CVC -0.8%, ADSK -0.9%, NOK -1.6%
Comments »In Play and On the Wires
Red Pill Commentary
John Paulson Down 34% for the Year; Does He Not Know of iBC ?
Sorry Mr. Paulson, but we all get blown up from time to time. The question is what do we do when we pick ourselves up and dust ourselves off ?
Comments »Arthur Andersen Ex-CEO: Enron, Europe Are Similar
BREAKING: “DEFCON 3 JIMMY” LIKES TECH HERE
He mentioned NVLS, SNDK, GOOG and KLAC, obvious beneficiaries of the coming apocalypse for Jimmy.
Comments »
