Business Summary Links By Day
Dave’s
Daily: http://www.etfdigest.com
SUMMER IS BOILING WHILE TRADING
IS COLD 8-20-12 ‘Apple
(AAPL) seems the only stock investors care about as it rallies to become the
world’s most
valuable company. Microsoft (MSFT) had that honor in the dotcom heyday in 1999
as everybody needed a PC then. The chart below compares the two monsters
performance as each soared over different time periods—hat tip Zero Hedge http://albertpeia.com/chartapplmsft.jpg And, yes I know it’s different
this time and many believe Apple is a much superior company now than Microsoft
was back then. The weighting of the stock to many ETFs, particularly in
technology, is nearly 20% which can give a false impression of how markets are
truly behaving. (This is why it’s useful to compare the QQQs with equal weighted QQEW
to get some perspective.) The PE of the stock is reasonable clearly but the
twists and turns of technology never are. The next “I got to
have it” gizmo from the company is the iPhone 5 which
promises to be a little bigger and faster. When you upgrade to a new phone it’s matched
by a new phone plan which is never cheap. Further there are some rumblings from
China that some wireless operators there won’t service the phone. The company is also in the
process of developing and releasing a mini-iPad the need for which is vague to
an old fogy like me. Anyway the stock shows few signs of being sold and
dominates most institutional and retail portfolios. Rumors of stock splits and
the company being added to the DJIA continue to be supportive as well.
Meanwhile back to the duller and pedestrian stock markets has offered little
action. Most likely investors are waiting first for FOMC Minutes on Wednesday
to find some nugget that might support QE3. If few are found or spun then it’s on to
Jackson Hole for Bernanke and Draghi to act or not. Away from Apple there has
been some news from Caterpillar (CAT) which was a warning about weak economic
conditions but the stock rallied. In China house prices rose and food inflation
is on the move higher. Taken together this should restrict stimulus one would
think. Meanwhile in the eurozone there is plenty of controversy regarding more
lending. One rumor quickly shot down was the ECB would place a cap on bond
buying by only buying when certain interest rates rose above a target. Spain
has stated they want unlimited bond buying without conditions. While Merkel
herself has been more dovish such is not the case with politics within Germany.
The Bundestag has restated its objections to new bond buying as has the finance
minister.Moody’s has gotten into the swing of things by suggesting that California
municipal bond bankruptcies are likely to expand. Popular muni bond ETFs
like (MUB) didn’t react period such is the low level of confidence investors
have in rating agencies. Investors fear taxes more evidently.Goldman Sachs Chief Strategist David Kostin has been
pleading with clients to sell their equities before the fiscal cliff arrives.
Meanwhile Goldman Sachs strategist Abby Joseph Cohen remains bullish. Who to
believe? They’ll tell you with hindsight.Stocks overall chugged along at a
snail’s pace with early selling. But, this was met with some persistent late
day buying. Volume was ridiculously light even for a Monday in August or a
half-day of trading around the holidays. Breadth per the WSJ was modestly
negative. (This is going to be another really short post thanks to little
action.) ETF Portfolio Quick Tip:
Russell Investments is going to shutter all its index-based ETFs on the heels
of the closure of similar issues from Focus Shares. I have written for several
years about being careful regarding repetitive ETFs, low assets under
management and trading volume. In our soon to be released Best U.S. Equity ETFs
we only select an issue or two in each category that can make a difference.
Please look for it upon release…’ , Hit the
road barrack, and don’t you come back no more no more, het the road barrack and
don’t you come back no more! http://albertpeia.com/hittheroadborackanddontyoucomebacknomorenomorenomorenomore.htm , Guest
Post: Shhhh… It’s Even Worse Than The Great Depression ZeroHedge.com Tyler Durden In just four short years, our “enlightened” policy-makers have
slowed money velocity to depths never seen in the Great Depression. Hard to
believe, but the guy who made a career out of Monday-morning quarterbacking the
Great Depression has already proven himself a bigger idiot than all of his
predecessors (and in less than half the time!!). During the Great
Depression, monetary base was expanded in response to slowing economic
activity, in other words it was reactive (here’s a graph) .
They waited until the forest was ablaze before breaking out the hoses, and
for that they’ve been rightly criticized. Our “proactive” Fed elected
to hose down a forest that wasn’t actually on fire, with gasoline, and the
results speak for themselves. With the IMF recently lowering
its 2012 US GDP growth forecast to 2%, while the monetary base is
expanding at about a 5% clip, know that velocity of money is grinding
lower every time you breathe. , When
Japan Goes Japanese: Presenting The Terminal Keynesian Endgame In 14 Charts It is hard to find fiscal situations that are worse than Japan's.
The gross government debt/GDP ratio, at more than 200%, is the worst among the
major developed economies. Yet yields on Japanese government bonds (JGBs) have
not only been among the lowest, they have also been stable, even during the
recent deterioration during the European debt crisis. This apparent contravention of the laws of
economics… , Taxes
Vs Debt: Where Does US Funding Come From - Chart Of The Day , Here
Is The Chart That Explains Why Rates Are Rising In The US , Exuberance
Exits As Spain's IBEX Hits 200DMA In
a normal market, whatever that is, we would not feel the need to note every
tick in the Spanish equity market; but today's 2% decline - its worst in 3 weeks - is the first down-day in 10
days. , Egypt
Prepares To Use Aircraft And Tanks In Sinai For First Time In 40 Years , On
The Fed's Sudden Need For "Risk Managers" And "Financial
Engineers" , Goodbye
Civilization: So Simple A Greekman Can Do It Around 1000 people per day are still losing their jobs in Greece
with the percentage of the population not working now uncomfortably larger than
those who are employed.. , Daily
US Opening News And Market Re-Cap: August 20 A weekend article from Der Spiegel has been the
centre of must attention this morning amid a light economic calendar on both
sides of the pond. The article reported that the ECB would set limits to the
yields of periphery country debt and intervene should these limits be breached.
This weighed on the German Bund from the Eurex open and saw the Spanish curve
trade lower by 25bps to 35b ps, as well as buoying the EUR currency and riskier
assets in early trade. Risk-on moves in EUR and DAX futures were retraced as
the ECB denied these reports, saying that it was misleading to report on
decisions not yet taken, though it will act within its mandate. A German
finance ministry spokesman also denied all knowledge of the reports a short
while before hand. Furthermore, the latest monthly bulletin from the Bundesbank
that once again reiterated the disapproving German stance toward the ECB's
controversial bond-buying programme also dampened the mood.
Buy
everything I say without limit. Leverage each purchase to the maximum allowed
under the law. The markets will only go up and not down and 100,000 is the next
stop for the S&P. It is to be Dow without Jones, assets without liabilities
and wealth without poverty. The Middle Class has been evacuated and everyone is
wealthy beyond belief. It is just there, of course, that the truth lies in this
merry old land, “beyond belief.”
"I
like fantasy---it wakes up the brain cells.”- Dr. Seuss
Finnish
Euro Doubts Hide Business Plea to Commit to Currency (Bloomberg)
04:39PM Urban Outfitters Earnings: Heres Why Shares are Skyrocketing
at Wall St. Cheat Sheet
04:15PM 10 Undervalued Dividend-Paying Stocks With Momentum at Minyanville 04:00PM STOCKS GO NOWHERE: Here's What You Need To Know Business Insider
03:00PM [video] Lou's Been Thinking About Vitamin Praise at TheStreet 02:33PM InPlay: Dow -2 flirts
with positive territory, sets new session high Briefing.com 02:12PM Bernanke Needs To Shame Congress, Obama Into Doing More at Forbes 01:10PM Five-Week Options Cycles Don't Bode Well For Stocks at Forbes 12:48PM
11:22AM Index, ETF option volumes near midday optionMONSTER 11:19AM Index, ETF option volumes near midday optionMONSTER 11:08AM U.S. Need For Stimulus Diminishing at Forbes 11:00AM InPlay: Stock indices
extend push off first hour lows -- Dow -20 has rebounded as much as 25 points,
S&P -3.6, Nasdaq Comp -10 Briefing.com
11:00AM [video] An Indecisive U.S. Government Prevents Long-Term
Solvency at TheStreet
10:57AM Best Buy Quarterly Earnings Sneak Peek at Wall St. Cheat Sheet
10:53AM [video] China, U.S. Backed Into a Corner at TheStreet 10:50AM Dell Quarterly Earnings Sneak Peek at Wall St. Cheat Sheet
10:28AM S&P 500 falls from Friday highs, levels to watch at theflyonthewall.com
10:26AM Patterson Companies First Quarter Earnings Sneak Peek at Wall St. Cheat Sheet
10:23AM Hormel Foods Third Quarter Earnings Sneak Peek at Wall St. Cheat Sheet
10:21AM H-P Quarterly Earnings Sneak Peek at Wall St. Cheat Sheet
10:20AM SPX Heading to 1422 at
Minyanville 10:12AM Salesforce.com Second Quarter Earnings Sneak Peek at Wall St. Cheat Sheet
10:09AM Big Lots Second Quarter Earnings Sneak Peek at Wall St. Cheat Sheet
10:03AM Autodesk Second Quarter Earnings Sneak Peek at Wall St. Cheat Sheet
10:00AM Stock Market Update: 5 Charts Flashing Caution at Minyanville 09:48AM Why It's Nearly Certain That Market Volatility Will Continue
at Minyanville
09:21AM Pre-Market Primer: Bundesbank Spars With ECB Over Bond
Purchases at Minyanville
08:50AM Are Stock Market BULLS Running Out of Steam? at Wall St. Cheat Sheet
08:26AM Lowes Earnings: Margins SUFFER for Five Quarters Straight,
Profit Drops at Wall St.
Cheat Sheet 08:25AM Is the ECB Really Ready to Put on the Spread Cap? at The Wall Street Journal
08:17AM Are Stock Market BULLS Running Out of Steam? at Wall St. Cheat Sheet
08:10AM Is the ECB Really Ready to Put on the Spread Cap? at The Wall Street Journal
08:06AM ES Support and Resistance for August 20 at Minyanville 07:55AM [video] Trade 'em and Trail 'em To Stay With The Rally at TheStreet 07:40AM Are Stock Market BULLS Running Out of Steam? at Wall St. Cheat Sheet
AP Business Highlights
...Yahoo Market Update…
http://albertpeia.com/archives.htm
FBI Nazi
Bikers Bust FBI Nazi Bikers - What's Up At The FBI/DOJ?
Infowars.com | Now is the time to put an end to Obama’s
treasonous and tyrannical behavior.
http://albertpeia.com/impeachobama.htm
Wobama’s
Choom Gang Bangin’ { This brief video (11 mb) is well done and worth a
watch! }
http://www.albertpeia.com/wobamaschoomgangbangin.wmv
PAPER:
Obama's grandfather tortured by the British? A fantasy (like most of the
President's own memoir)... {
http://albertpeia.com/wobamaschoomgangfantasy.htm }
Drudgereport: Obama: 'Sometimes I Forget' Magnitude of Recession…{
Oh! How conveniently forgetful, though the vast majority of americans don’t
have wobama’s luxury of feigned amnesia suffering from what wobama did and
didn’t do contrary to promises last time around the perpetual campaign trail
littered with his typical jive-talking b***s***! The following headline will
help him remember some of his sordid, pot-clouded high school past! }...
FLASHBACK: Obama's Sordid High School Past...
By Ben Shapiro ‘While the Washington Post has been diligently
digging into relatively innocent high school pranks
by Mitt Romney, they’ve spent the last few years diligently ignoring President
Obama’s far more controversial high school days.Obama, by all accounts, was a
habitual drug user in high school. He tried cocaine, he admits in Dreams
From My Father; he “tried drugs enthusiastically.” The Chicago Tribune
reported back in 2007 that Obama thanked the “Choom Gang” in his high school
yearbook; “chooming” was Hawaiian slang for smoking pot. The Honolulu
Advertiser reported that Obama’s senior portrait “prominently displayed …
A package of ‘Zig-Zag’ rolling papers and a matchbook.” One of Obama’s close
friends was arrested for drug possession during high school.In his memoir,
Obama talked about routinely getting high. “Junkie. Pothead,” he wrote. “That’s
where I’d been headed: the final, fatal role of the young would-be black man.”
But, according to Obama, he only got high because he was contemplating deep
matters: drugs could “push questions of who I was out of my mind.” Obama told
students in 2007 that this activity constituted “goofing off” and “wasting
time”:"I will confess to you that I was kind of a goof off in high school
as my mom reminded me," Obama said. "I went to high school in
Cracks
in the Washington Post story on Romney’s ‘pranks’ emerge
Correction
Request: Washington Post Uses Falsehood in Romney Hit Piece
Media
Downplays Obama's Past, Tries to Define Romney with Teen Prank
If we're going to delve deep into a candidate's past, let's delve deep into a
candidate's past. Here's Obama in his own words admitting to physically shoving
a little girl named Coretta. Yes, it was at this moment that the first
shot in the War on Women was fired.
http://albertpeia.com/obamashovesgirl.png
No doubt that after expending all that energy
bullying an innocent little girl, young Obama readied himself for round two by
eating a Golden Retriever. More on this breaking story here.If
you're wondering what the rules are regarding a candidate's past; how far back
we're allowed to go in an attempt to define them -- the answer is simple: the
corrupt media will let us know.
Obama WILL NOT pursue gay marriage as part of party
platform...
STONE: 'Playing a
cruel and cynical game'...
Unites Republicans?
New Black Panther Niggers Plan Newspaper Cover With
Zimmerman In Noose { and civilized people everywhere should respond with
niggers in nooses and contributions to the Klu Klux Klan! } ...
LOONEY CLOONEYLAND: BIG CAMPAIGN BOXOFFICE FOR NIGGERO
– Meanwhile, looney clooneyland ain’t doin’ so well with the niggero model –
see next headline! ...
Failed Wobama model illustrated: 16 Reasons To Move Away From
Postal Service loses $3.2b in first quarter...
78% of
_______________________________________
{ some prior links of current
interest }