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Ray - Kitchener

Ray - Kitchener
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  • Word of progress sends stocks higher [View news story]
    If Obama would stop campaigning and lead as a President should do, this would have been over a long time ago. Alas, we are void of true leaders and left with puppets.
    Oct 14 01:53 PM | 7 Likes Like |Link to Comment
  • The bear case for stocks may make sense, but how do you square it with BAML's survey showing overwhelming bearishness (the highest since 1985) amongst professional managers? Such extremes in negative sentiment have been great buying opportunities in the past. (h/t tradefast[View news story]
    Why do cheerleaders always point to the past? We are in uncharted waters. Never before have we had such central bank intervention. manipulation can go on for some time. Nevertheless, economics are getting worse everywhere. The bubbles keep inflating thanks to Ben and Mario. Time will tell.
    Sep 4 11:31 AM | 4 Likes Like |Link to Comment
  • Goldman Sachs details its 1575 price target on the S&P 500 in 2013: Expecting better growth than most, the firm likes cyclical over defensive sectors, and tech over staples, telecom, and health care. A "grand bargain" in D.C. along the lines of Simpson-Bowles "would spark a PE multiple expansion and a higher target." [View news story]
    Is this the latest Goldman pump and dump? Were they not the same group who pumped and bet against the sub prime mortgage debacle? Just not worth it.
    Nov 29 09:14 AM | 3 Likes Like |Link to Comment
  • It's tough to find any market pros to go on the record, says a fired-up Gary Kaminsky, but what they're telling clients is the election was bad news for stocks. The bull market from the 2009 lows was about stocks priced for Armageddon meeting massive central bank stimulus, he says, but that dynamic is played out, leaving the markets to deal with the reality of a weak economy and questionable leadership in D.C. [View news story]
    Just to add one more comment. Texas Instruments lay off 1,700 workers today. Result? Analysts upgrade the stock price. What about those 1,700 families. They work hard and get the boot. Did the CEO lower his salary to help? Not likely. Greed. Add to the unemployment line. The entire system is broken.
    Nov 15 02:22 PM | 3 Likes Like |Link to Comment
  • More from Goldman's oil call: With the Seaway pipeline ramping capacity by early 2013 to 400K b/d from the current 150K, Goldman expects the current $20+ spread between Brent and WTI crude to narrow to just $4 over the coming months. A chart of BNO vs. USO YTD. Is a reversal coming or is Goldman just stocking up on Brent? [View news story]
    Yea - just like the housing crisis.....
    Oct 18 09:56 AM | 3 Likes Like |Link to Comment
  • Corporate insiders get even more bearish, the Vickers sales-to-buys ratio rising to 5.61:1 from 3.8:1 at the start of September. The deterioration comes from Nasdaq issues, where the ratio jumped to 6.17:1 from 2.96:1. Perspective: The long-term average is 2-2.5:1. One year ago, with stocks gasping for air, insiders weren't sellers - the ratio dropped to 1.04:1. [View news story]
    And these people know what's coming. The poor joes in the market place holding mutual funds will suffer. It will be interesting to see how long the Helicopter and Super Mario can hold the market up. I find it interesting that the S&P is below the level since QE3 was announced. Just goes to show you what terrible shape this economy and the world is in. Where are all the buyers? The cheerleaders were claiming that we are recovering. Or - are they just doing the pump and dump dance.
    Oct 10 10:27 AM | 3 Likes Like |Link to Comment
  • Gold and oil don't seem to expect much from the FOMC today, the metal -1.2% and WTI crude -1.8%. Crude added to already solid losses on the release of storage data showing an unexpected build in inventories.  [View news story]
    The Fed is caught between a rock and a hard place. They have put us in this situation with propping up the market with QE1 & QE2. What ever happened to free markets. They need to do nothing and let the chips fall as they should. What we need is fiscal responsibility around the world along with income distribution. If not, we are headed for a fiscal cliff along with civil strife. If you are 25 and can't find a job, what does one expect from the young?
    Jun 20 11:41 AM | 3 Likes Like |Link to Comment
  • Eighteen out of 21 economic indicators released last week came in weaker than expected, notes Bespoke (searching its memory for a worse week). Toss in today and it's up to 20 out of 23. Have we hit an inflection point where the U.S starts to underperform the rest of the world? S&P vs. Europe, China, Brazil over the last year.  [View news story]
    I agree with ECRI and have from the start. The jokers on CNBC laughed and scoffed at them. For those who like to read "Aftershock" by Wiedemer. It will give you a heads up on where we are headed. I am sure the cheerleaders will be rounded up to put their usual spin on things - like "Buy", "Everything is cheap", blah, blah, blah. For the record - I have been short Oil since $104 and SPX at 1312. Will continue to stay short until mid June when Benny and the Inkjets start the presses.
    Jun 4 10:56 AM | 3 Likes Like |Link to Comment
  • Brave or foolhardy? Francisco Blanch, BofA's head of commodities research, reckons West Texas crude could temporarily fall to $50/bbl in the next two years, as the U.S. and Canada between them are set to increase output by more than 800K bbl/day thanks to surging shale oil production, and the global demand picture also doesn't look rosy. [View news story]
    You have got to be kidding me. Obama has as much impact on the price of Oil as I do. New jobs? Yeah we need some to counter those we keep sending to China.

    Let's see. We spend $1.2 Trillion more than we take in and unemployment is still 7.5%. If they count it properly, it is more like 14%. We will need to spend $2.5 Trillion more. That's the Obama way.
    Jan 31 01:38 PM | 2 Likes Like |Link to Comment
  • Up 5.31% so far this month, the S&P 500 is on track for its best January since 1997 - happy news for the "as January goes, so goes the year" crowd. Maybe of more interest: Apple - the S&P's highest-weighted member - is also the worst-performer, -14.3%. Has there ever been an instance when the index has done so well while its largest holding did so poorly? [View news story]
    The big guys are setting this up again to suck every last buyer standing on the train station. The time to buy was last week in December. The time to sell is now. Wait for the correction to get back in again. Profits are good. Don't be lulled into the classic "Pump & Dump".

    Apple may be down and trading a single digit P/E. But we have Amazon trading at 3,000 plus. Go figure.
    Jan 31 01:20 PM | 2 Likes Like |Link to Comment
  • It's tough to find any market pros to go on the record, says a fired-up Gary Kaminsky, but what they're telling clients is the election was bad news for stocks. The bull market from the 2009 lows was about stocks priced for Armageddon meeting massive central bank stimulus, he says, but that dynamic is played out, leaving the markets to deal with the reality of a weak economy and questionable leadership in D.C. [View news story]
    Buddy, give your head a shake. How do you solve the debts around the world? You don't. You kick the can down the road, until someone pulls the plug. The markets will pop if the fiscal cliff is kicked down the road. Nevertheless, the problems will still be there. We need to clean house, before there is renewal. It's called bankruptcy.
    Nov 15 02:07 PM | 2 Likes Like |Link to Comment
  • With the market set to record its biggest opening gap down in months, ukarlewitz looks at the last four 9:30 AM flushes. The market was higher shortly thereafter in each instance. Quantifiable Edges looks at occasions where the market gapped down 1% ahead of a Fed meeting - all of these turned positive over the next 2 days. [View news story]
    The Primary dealers will continue to prop this ponzi scheme up as long as the Bernake continues to drop billions on them. If the market were left to be free, we would be heading much lower. One wonders how long he can keep this up.
    Oct 23 11:02 AM | 2 Likes Like |Link to Comment
  • "By 2018, the U.S. will have no place for crude oil imports,'' says Citigroup's Ed Morse, continuing (previous) to discuss the implications of the remarkable surge in domestic oil production. The $90 floor on prices is set to become a ceiling, he says, and the U.S. will have the lowest-cost natural gas feedstock in the world for the next century. [View news story]
    BS: This guy should keep his mouth shut. Oil today is $91.65. If OPEC wants it higher, up she goes. This guy can't predict today, let alone 2018. Who knows what happens tomorrow. By 2018, the US debt will be $25 Trillion. Taxes alone will take it well over $100. It will become a great tax source.
    Oct 15 03:52 PM | 2 Likes Like |Link to Comment
  • His growth fund underperforming the S&P 500 by about 2500 basis points YTD, John Hussman sounds frustrated, comparing today's investor confidence and enthusiasm to that of Nasdaq 2000 or housing/debt 2007 (perhaps he's not following the continuing flow of money out of equity funds and into fixed income). [View news story]
    The Big boys are pushing this market higher to get all the late comers to jump on. When the last train leaves the terminal, look out below.
    Aug 21 01:07 PM | 2 Likes Like |Link to Comment
  • It seems like we can have higher stock prices or lower crude oil prices, but we can't have both. Crude continues a 6-week rally, moving to its highest price since spring at $94.24. The gasoline ETF: UGA +14.9% in the last month. Earlier, inventory data showed an unexpected draw on stocks. [View news story]
    The problem with higher oil prices, is the impact on corporate profits and the squeeze it puts on consumer's budgets. Oil is found in so many products, thus as we approach $100 per barrel, we are getting into Oil Shock territory. The drag on GDP is enormous. Just think what it does to the US war machine. Therefore, higher oil prices will push output lower and the stock market will follow.
    Aug 8 02:32 PM | 2 Likes Like |Link to Comment
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