Why? Because the ADP private payrolls report, issued Wednesday July, 3 missed analysts’ expectations, coming in at a meager 102,000 new private sector jobs being created in June. This sets the stage for a miss on the government jobs report due tomorrow and in the eyes of most media savants and pundits this signals a…
Tag: the fed
Stock Market or Stewpud Markit?
My take: hands down, it is the ‘Stewpud Markit’. I have never, ever seen the expenditure of intellectual energy that has gone into the stupid pursuit of the meaningless questions, ‘when will the Fed begin to raise rates for the first time after an 8 year hiatus and what will be the resultant economic impact?’…
“Nasdaq surge is triggering tech-bubble flashbacks”
This was Barbara Kollmeyer’s ‘if it bleeds, it leads’ banner headline, Friday, July 17 (MarketWatch). Ms. Kollmeyer goes on to say, “some strategists are starting to think either history could repeat itself for technology stocks, or we could be opening a nastier chapter in the book of bubbles.” For all the gory details, click HERE….
Session 135–If you can’t say something good … ,
Say something really negative, something really stupid or ‘saw sawdust.’ Today’s headline opinion column in MarketWatch (“The Fed has boxed U.S. into a tough easy-money corner”) hit the trifecta. As it pertains to saying something really negative, the article really hits the bull’s-eye, suggesting that when (and if) the Fed moves to reverse Quantitative Easing…
Session 110–“If anything can go wrong, it will.”
‘Hoist by one’s own petard’ (blown up by one’s own bomb) is Murphy’s Law at work and the pundit’s worst enemy. Because, as soon as you put a prophecy out there, strange mechanisms go into play that make it very difficult for you to look anything but stupid. Yet there is a flock of people…
Session 109–Fear and Loathing on Wall Street
It never ceases to amaze me how rapidly market sentiment can shift. Last week was a perfect example; from ‘Fear and Loathing’ at the beginning of the week to a “Calm sea and Prosperous Voyage” at weekend (May 23, 2014). Of course, when this happens it is usually the media driving the train, picking news…
Session 69–“Are we there yet?”
I am refering to a familiar refrain from the back seat for anyone who’s taken a passel of impatient kids on a long road trip. Now those kids have grown up and are asking “Is it a bubble yet.” Actually those kids are mostly talking heads and pundits in the financial media. It is a…
Session 67–I love it when people agree with me!
“The whole, entire secular bull market remains in its very early stages.” These are the words Brian Belski, BMO Capital Markets Strategist, one of the four panel members interviewed by Maria Bartiromo yesterday (10/22/13) on CNBC’s “Closing Bell.” The clip, ‘Forced into the game’ of buying U.S. stocks,’ features along with Belski: the man who…
Session 65–Kick The Can, Maybe Not.
“This Market is a Mystery” I have been trying to figure out why the market in the face of enormous stupidity and dysfunction, remains so strong. Also, today in the face of what could be a temporary reprieve (now a fait accompli), opening the government and increasing the debt ceiling, why didn’t we see people…
Session 57— “Lipstick On a Pig”
“Lipstick on a pig” is probably one of the more disgusting phrases that has made it into common usage. Leave it to one of the most off-putting, obnoxious individuals in financial television, Rick Santelli, to give us a quintessential example of this tasteless descriptor of putting a smiley face on a bad situation. To set…