Says it all with the stock worth more then a billion Ipad sales.
Monday, February 27, 2012
Friday, February 24, 2012
Oil up past 108 now, sweet $4 dollar gas again. I'm sure everyone misses those days. If that keeps going I just cannot see the headline inflation number allowing the Fed to do anything more. So Oil price is the new thing everyone will pay myopic attention to for the next couple weeks.
Thursday, February 23, 2012
Tuesday, February 21, 2012
Monday, February 20, 2012
For being a closed Monday everythings moving more then I'd expect. Oil's up over 105. That keeps going we'll see that CPI headline number jump quickly. We might be turning from the oil up means demand is up, which means the economy is improving, to oil is an input cost to production and higher is bad.
Wednesday, February 15, 2012
Got that QE feel again just a slow melt up with basically no down. The interesting part is that everything's up on what I can only think is inflation fears again? QE2 was the Fed buying 600 billion in Treasuries with an average duration of 7 years. So really the Fed swapped with the banks 600 billion in cash for 600 billion in bonds. How is that inflationary? No new money introduced 600 billion in assets and ended with 600 billion in assets, but everybody screamed hyperinflation so into stocks and commdities everyone went. So a similar move while not inflationary is being view as such and so the cycle repeats. But really the Fed doesn't have a choice now, if they pulled QE3 off the table the market would collapse. So it seems like a must do for them since we've got the doctrine of market declines can not be allowed.
Tuesday, February 14, 2012
Not even a 3 point range this morning on the S&P. High to lows are getting smaller recently. The money question is does this pause in upward momentum mean sideways or a top? If you watch most of the action is overnight or basically everyones still waiting for Europe to either stabilize or explode.
Thursday, February 9, 2012
Initial claims for unemployment keep getting better but is it from job growth or are that many people just running over their 22 months and falling off the map? With that the S&P keeps melting up. This rate we can be back to the 07 super bubble level by May and the Nasdaq can get back to 00', pets.com worth 30 billion level, too.
Tuesday, February 7, 2012
Friday, February 3, 2012
First thought with the NFP was, "hmm that's weird normally there's hiring for christmas then all those people are gone in January"? Good old ZH to the explainationing http://www.zerohedge.com/news/record-12-million-people-fall-out-labor-force-one-month-labor-force-participation-rate-tumbles-. This might kill the Fed's inject money idea since unemployment is a big part of the inflation number.