iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
20,993 Blog Posts

Who’s Ready For a Debt Ceiling Crisis?

Early rumblings suggest there will be a new crisis by March, as the republicanus and dummocratis prepare for ‘Battle Retard.’ Also, most economists are predicting very weak economic growth for 2013, ranging from 0.00 to 1.5%. Scott Bleier has been saying ‘We Are Japan’ for years. I reckon he is correct.

Speaking of Japan, the yen is stronger today, so Japanese stocks are on sale. I am a buyer of HMC on dips and will continue to do so until the stock hits my price target of $45.

If the market is serious about going higher, it will not give back too much today. We’re more likely to see a moderate pullback, then another leg higher. That being said, don’t think this market isn’t capable of being truly idiotic–whipsawing novice investors into bankruptcy filings.

For now, however, we must remain bullish until price action says otherwise.

Top pick: JRCC

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17 comments

  1. jimmy_two_times

    Can 0bama not raise the debt ceiling under an Executive Order if the GOP tries to pull a fast one?

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    • The Fly

      no

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      • jimmy_two_times

        Well then its just crazy that congress can ask for money, and then hold government hostage and decide when and if to pay.

        President should have that power to to make an EO if legislators are tools.

        Either way rating could be affected. Moody’s and S&P played nice last time. This time they may have to act and downgrade.

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  2. acehood

    12 dragon rolls, 7 philly rolls #hedgeyesushiorder

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  3. TraderCaddy

    Bought SMH etf (semis) this AM for the daytrade of the day.
    Rationale- INTC,TXN down .50-.75% and they make up 25% or so of the etf and it is unchanged.
    Got my stop in as I go for a bike ride and as I ride by HQ of Ticonderoga pencils I’ll give a shout out.

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    • Freddy Fishsticks
      Freddy Fishsticks

      Shouldn’t you buy the individuals and short the ETF in that scenario?

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  4. Juice

    Obviously, all crises are manufactured by the Illuminati, aka smart money, to get the unilluminati aka da dumb money, to puke up their shares, thereby enabling the illuminati to snap up all the worlds assets on the cheap

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  5. Freddy Fishsticks
    Freddy Fishsticks

    Just curious, why do you like HMC more than TM? TM makes moderately more attractive cars (Honda is losing market share to the Kias and Hyundais every day) and I believe TM has greater int’l reach.

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    • jimmy_two_times

      HMC is more than cars

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    • The Fly

      Samurai do not explain their investments to lowly merchants like you.

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      • Freddy Fishsticks
        Freddy Fishsticks

        Think I answered my own question – HMC has 77% of revenues on exports, whereas TM has 60%. Given your yen thesis this would be a contributing factor. Of course, the assumption would be that this isn’t baked into the price already.

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  6. Patrick

    Another manufactured crisis to help the market reach 1500 + SPX

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