Monday, March 24, 2014

Some morning news


Here's some reading to get you started:

Reformed Borker (Bork Bork Bork!) - bank breakout. He called it. Quote:
I’ve said recently that the biggest, most glaring inefficiency in the entire market right now – at least to my own eye – is the fact that bank stocks are the very cheapest on forward PE and at the same time are the primary beneficiary of a (slowly) rising rate environment. Financial stocks across all market caps are selling at a forward PE of under 7 right now while consumer goods and utility stocks sell at forward PEs of around 15. I think the market has had this completely wrong but is in the process of coming around.
It's a market inefficiency, and the chart shows people are now coming around. So buy. Simple.

Ritholtz - the Fed and hyperinflation. Interesting, quote:
Wouldn’t it be something if we only start to smell inflation after QE has been reversed, after all the hyper inflationistas have crawled back into their cave? Markets have a unique ability to forecast the future, don’t look now you guys, but the CRB commodity index is up 10% YTD.
Hey Barry, if that's true then you should buy gold, no? I know it doesn't work in reality, but it is the way Wall Street Whitey thinks, no? And by the way, Barry: hyperinflation where? Do the emerging markets count, or only the West?

BI - China easing coming? That's what everybody's hoping for now. Bad news from China is apparently good news.

Fiscal Times - how Obama crippled a Russian bank with the stroke of a pen. I wish we could see more of this New World Order where all warfare is economic, and poor people don't get led off to get slaughtered in combat. After all, the USA has achieved supremacy in world financial markets, no? So why not fight on the most favourable battlefield?

Mining.com - hedge funds' bullish gold bets surge. Is that the mark of the top, then? I don't like being on the side of hedge funds, I'd rather be on the side of economic reality.

Jojo's Daily Gold - failed breakout marks interim top. To be entirely fair, he's saying what nobody else is saying, and I guess he's calling for a right shoulder to get drawn on the miners chart. To the extent that he's a TA and people use TA to play the markets, he's got a good chance of being right.

Aeon - why we love repetition in music. For me personally, nothing was a bigger high than setting up my D2 and turning out repetitive trance for a half-hour straight. So here's the science!


8 comments:

  1. That repetition in music thing may have some truth, but the prose is way too purple to get me to swallow whole the "Science!" argument. That Rondo experiment she did for example, what methodology? Were they prompted/suggested into that "more tapping" response? Kinda flimsy...

    However, I will evangelize this here...


    http://incakolanews.blogspot.com/2014/03/war-on-drugs-lost-in-dream.html

    ...and you should take a listen. Not often i fall for a new new album first listen these days and I think it's up yer alley, too.

    As for Jojo, yup good chance of being right. 50/50, to be exact. Love TA.

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    1. Yeah I didn't think you'd like Jojo's article, Mister "this is a new bull market in miners and if you don't believe it you've got rocks in your head".

      All I know re music is that my ADD and paranoia and intrusive delusions disappear when I've got some repetitive electronic music on cranked up to eleven. It reprograms the brain and that's a good thing.

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    2. I checked out War on Drugs and it sounds like Tom Petty with guitar effects fronting Sultans of Swing era Dire Straits. And the singer looks like a 40-something indie-rock douchenozzle.

      Oh god I just heard him sing "and there's the moon through the midnight rain". This guy's eminently punchable.

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    3. Ok, scratch that other comment further up. You should hang in for the reat of the album, not judge on track 1 alone. There's Dylan and Springsteen flavours in there as well, but it really works. My only gripe-ette is the slightly heavy-handed drummer but that be the nitpick, i like it a lot.

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  2. I was gonna comment on Barry's blog about how hypo-inflation generally follows war or social collapse as opposed to being something that just springs up like a daffodil because the Federal Reserve farted wrong, but then I thought nah, why bother telling people who believe that shit how things really work? You're on your own, fukwits!

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    1. "I was gonna comment on Barry's blog"

      I stopped reading there

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    2. "A man's got to know his limitations" -Dirty Harry

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