Good Morning All,
Commentary:
Although the adage "all politics is local" has been attributed by the late Democrat Tip O'Neill to his equally late father, it has since been incorporated into the reportage of all party campaigns; be they state, federal or municipal in nature. Until recently, however, it had never occurred to an American national leader that this theorem also applied to countries, as it has taken over a century of failed U.S. interventions to finally produce a counter policy that might work in Iran.
The criticism of Obama's reticence to become actively involved in the current situation in Iran has come from the usual political and otherwise uninformed sources, a monologue that is at once galling and laughable, considering the incredible mess these same individuals have most recently made of U.S. foreign relations. Worse still are the reporters whose consistent failure to ask the most obvious of questions; such as "what would you propose we do that would make a POSITIVE difference?"
The answer to the Iranian question will be best answered by the Iranian people, who just happen to have some recent experience in regard to revolutions having kicked out the last American puppet 30 years ago. Maybe this time they will get the "change part" right and finally throw off the yoke of fundamentalism. Meanwhile it is quite something to watch the Christian fundamentalists in America and their fellow travellers on the wacky right, scream for a defeat of the conservative leadership in Tehran. Once again, "politics is local", let's keep it that way. Twitter your support if you like but remember that democracy imposed from without... is just another form of tyranny.
Markets
We appear to have reached an impasse during June with several weeks of trendless trading, or non trading were the truth to be known. I am disappointed with the current failure to move toward my early July goal of a 1050 plus S&P 500 as this present market condition may now prevent a summer of leisure. The ancient market truism has once again reared its ego busting head "you may be able to predict the time or the level, but never both together". We will watch carefully over the next few hours or days to see whether the S&P will visit 840 or stage my desired rebound past 945. The themes of techs, biotechs, potash etc remain intact. Commodity stocks have given up 20 to 30% of their recent gains and should once again be under accumulation.
Tuesday, June 23, 2009
Wednesday, June 3, 2009
June 3rd Edition
Good Morning All,
The market closed last week with an important advance above the S&P 500 resistance level of 915 and continued this bullish mode Monday with a confirmation outburst over 940. The consolidation we witnessed yesterday is likely to continue through Thursday as the technicals prepare for a much sharper breakout toward our early summer target near 1100. This latest push may also be holding back until Air Force One has successfully cleared Middle East air space on its way to the 65th D-Day ceremonies on June 6th.
The Market has proven once again that it is discounting mechanism as final news of the GM bankruptcy came in the face of a 200-plus point Dow Jones advance. Naysayers continue to abound, and this too confirms our belief in our oft-stated adage that bulls are long stock and are therefore potential sellers, while bears are loaded with cash and will one day be buyers. The power of this phenomenon is compounded by those "short the market" that will once again be squeezed by week's end.
The two small-cap oil sands selections we posted Monday are respectively and respectably up 12 and 39%. This is just too easy to go on without pause... forever, so watch the technicals and get ready to take profits in early July when our near-term target is hit.
In the meantime we are working on an idea for a GOP fundraiser to be held in Yankee stadium; it would include Cheney, Rove, Limbaugh, Rummy, Ann Coulter, and others. It could involve waterboarding and other such Abu Ghraib practices, during which a running tote board would provide scrolling odds based on who would break first. We are open to suggestions on who would best act as the Master of Ceremonies. So far Al Gore and Hillary are among the choices...in leather.
The market closed last week with an important advance above the S&P 500 resistance level of 915 and continued this bullish mode Monday with a confirmation outburst over 940. The consolidation we witnessed yesterday is likely to continue through Thursday as the technicals prepare for a much sharper breakout toward our early summer target near 1100. This latest push may also be holding back until Air Force One has successfully cleared Middle East air space on its way to the 65th D-Day ceremonies on June 6th.
The Market has proven once again that it is discounting mechanism as final news of the GM bankruptcy came in the face of a 200-plus point Dow Jones advance. Naysayers continue to abound, and this too confirms our belief in our oft-stated adage that bulls are long stock and are therefore potential sellers, while bears are loaded with cash and will one day be buyers. The power of this phenomenon is compounded by those "short the market" that will once again be squeezed by week's end.
The two small-cap oil sands selections we posted Monday are respectively and respectably up 12 and 39%. This is just too easy to go on without pause... forever, so watch the technicals and get ready to take profits in early July when our near-term target is hit.
In the meantime we are working on an idea for a GOP fundraiser to be held in Yankee stadium; it would include Cheney, Rove, Limbaugh, Rummy, Ann Coulter, and others. It could involve waterboarding and other such Abu Ghraib practices, during which a running tote board would provide scrolling odds based on who would break first. We are open to suggestions on who would best act as the Master of Ceremonies. So far Al Gore and Hillary are among the choices...in leather.
Monday, June 1, 2009
June 1st Edition
Good Morning All,
For the superstitious among you, today marks the beginning of week 13 of the recovery rally. This "generational" opportunity has already brought abundant gains to those who had the courage and wisdom to realign their portfolios in what were very scary times, and although this has been a plus 30% index runup, (far more for many individual stocks), the best may be yet to come.
It appears that everything, excepting GM and the U.S dollar, have enjoyed the most recent ride, with the commodity trade leading last week's surge on the back of the aforementioned dollar weakness. Oil prices appear to have comfortably settled above the 50$ support level and now seem prepared for a run at 75$. This upsurge has brought the oil sands back into play, lending new credibility to some of our old picks in the group. BQI on the AMEX and BCF on the TSX both trade around a buck and have recently raised cash, Petrobank at 36$ remains the class of the bunch. Gold is for everyone, look at MMC.UN 6.70 as a conservative entry.....many more.
Friday's close above 915 on the S&P 500 should signal our much vaunted "blow off" rally toward 1100. We will monitor the progress, even as we trepidatiously view Obama's venture to Cairo later this week.
Dick Cheney has recently been making far too many headlines in his quest to criticize the Obama administration while making a positive case for his own doings, and although I believe he has every right to speak out in his defence, I would prefer that he be forced to do so in a court of law, after being charged with a laundry list of constitutional offences...including sedition.
...and on the subject of right wing, libertarian nonsense, it is a joy to watch the squirming of CNBC commentators and their chosen guests as they continue to critique every move the Obama team makes, cringing with despair on market up days...of which there have been many late.
For the superstitious among you, today marks the beginning of week 13 of the recovery rally. This "generational" opportunity has already brought abundant gains to those who had the courage and wisdom to realign their portfolios in what were very scary times, and although this has been a plus 30% index runup, (far more for many individual stocks), the best may be yet to come.
It appears that everything, excepting GM and the U.S dollar, have enjoyed the most recent ride, with the commodity trade leading last week's surge on the back of the aforementioned dollar weakness. Oil prices appear to have comfortably settled above the 50$ support level and now seem prepared for a run at 75$. This upsurge has brought the oil sands back into play, lending new credibility to some of our old picks in the group. BQI on the AMEX and BCF on the TSX both trade around a buck and have recently raised cash, Petrobank at 36$ remains the class of the bunch. Gold is for everyone, look at MMC.UN 6.70 as a conservative entry.....many more.
Friday's close above 915 on the S&P 500 should signal our much vaunted "blow off" rally toward 1100. We will monitor the progress, even as we trepidatiously view Obama's venture to Cairo later this week.
Dick Cheney has recently been making far too many headlines in his quest to criticize the Obama administration while making a positive case for his own doings, and although I believe he has every right to speak out in his defence, I would prefer that he be forced to do so in a court of law, after being charged with a laundry list of constitutional offences...including sedition.
...and on the subject of right wing, libertarian nonsense, it is a joy to watch the squirming of CNBC commentators and their chosen guests as they continue to critique every move the Obama team makes, cringing with despair on market up days...of which there have been many late.
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