Friday, February 24, 2017

Trump just made someone very angry

NY Daily News - witches of the world will cast a spell on Donald Trump tonight. Oh my:

Witches of the world will cast a “mass spell” on the commander-in-chief Friday night in a ritual that calls for an unflattering photo of Trump, a tower tarot card, salt, a candle, a feather and either the stub of an orange candle or a baby carrot.

Uh... yeah, I think they won me over right there with the baby carrot.

Friday video: new song by Lana Del Rey

The song is beautiful and the video is transcendent and if this isn't her first #1 hit single then it's because Billboard is still paying attention to radio play when radio has been abandoned by everyone except angry old white men.

She even winks and smiles now.

Thursday, February 23, 2017

Peter Boockvar on euphoria or not

Ritholtz - what would John Templeton think? This was the part that really tweaked my interest:

We know that the amount of Bulls in the weekly Investors Intelligence survey have only been seen a few times over the past few decades. They currently total 61.2 vs 61.8 last week. Bears are a microscopic 17.5. I’m no technician and only use overbought/oversold metrics as a background message fully understanding that when extreme in one direction, it can get more so but we are really, really stretched. The 14 day RSI in the NDX yesterday closed at 84.7, the highest since January 1992. It was 84.2 in January 2000. The index is up 11 out of 12 days and that down day totaled 1.7 pts. The technology sector within the S&P 500 is up 14 days in a row.

Valuations don’t matter until they do and certainly haven’t mattered for a while but we can’t deny the fact of where stocks are trading relative to other historical peaks.

Much of the ebullience is being driven by hopes over a large cut in the corporate tax rate. To put numbers to this, the Bloomberg US exchange market capitalization has increased by $2.5 Trillion since the day of the election. According to the CBO estimate, the US will take in $320 Billion in fiscal year 2017 in TOTAL corporate income taxes. Thus, if the entire corporate tax was eliminated, we’ve priced that in by 8 times and some of those corporations are privately held.

Then again, have all the Republicans who stayed out of the market thru 8 years of Balrog HUSSEIN Taxbongo bought in yet? You have to know how much money is still to enter the market before you can call a top.

Personally, I'm looking more and more at CIE.TO for an ex-US developed market story. It's regained its losses from 2015 and seems to want to break to a new high. Europe (and Japan, meh) may be moribund, but that would hopefully also mean they're trading at a very low P/E compared to the US.

I'll have to check it further.

Wednesday, February 22, 2017


OK, so I guess GDX really should drop down and retest its SMA(50), so that's what it seems to be thinking of doing right now.

Meanwhile the SPY is silly expensive, but then again Trump's going to save 'Merica, right?

So here's the important news:

Vice - new Lana Del Rey single will save us all. Quote:

She has acted as a symbol of our secret desires, our excesses and our failings, simply by exploring her own character.

But with Love, Lana has given up on narcissism and stretched out her hands to us more directly than she has ever dared to before. She has abandoned the self-examining character she has maintained for five years, and stepped out of the hazy fantasy world of her own construction. In Love, Lana discards her favourite subject (herself), and instead talks about us, the audience, and the real world.

Love speaks with uncharacteristic directness: "Look you kids, you know you're the coolest. The world is yours and you can't refuse it."

Lana is looking directly into our eyes and addressing us. Throughout her work, Lana has maintained the Del Rey character fastidiously, never breaking out of her solemn, brooding persona for fear of ruining the magic of her image. In Love, she grins openly at the screen, exuding warmth and winking knowingly. She seems to be whispering: "Let's stop playing games for a minute. This one's for you."

It's a great video, I can't stop watching it.

"Don't worry, baby" Lana beams, and her soothing reverb floods us with warmth ­- ultimately, she wants this song to comfort us. Yes, to a degree, she wants to shake us out of apathy, and remind us that the apathy she exudes in her character is merely an act at the end of the day, but she also wants us to know we're doing a damn good job of coping with the world we're living through.

Lana's Love it seems is all about navigating the harsh, unforgiving landscape we find ourselves, and if it's a pointer in the direction she's heading in, maybe her new era will be all about lifting us up.

Thanks for coming to save the day, Lana!

May as well give you the video already: