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J 457

J 457
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  • Warren Buffett calls the debt ceiling debate a waste of time for Congress, telling Obama to push for a big solution - instead of a quick-fix compromise. Buffett doesn't see a Treasury default, saying, "that's a level of immaturity that I don't believe even this Congress is up to."  [View news story]
    Ahh Buffett. Worried your free govt money spigot may soon turn off..Maybe you can buy them low again, and convince the new President in 2013 to bail them out. Worked like a charm with Obama and your stakes in GS, GE, WFC..But next time maybe sell them at the top?
    Jul 18 04:28 PM | 4 Likes Like |Link to Comment
  • BofA (BAC -2.7%) needs to increase its capital cushion to as high as $50B to overcome mortgage losses, analysts say. The extra settlement and writedown costs may put a monkey wrench in the plans of CEO Brian Moynihan to reward shareholders with a dividend hike due to the new  capital ratio regs now in place.  [View news story]
    I think I'll look at the Sept $5 puts for BAC.
    Jul 18 04:08 PM | Likes Like |Link to Comment
  • Some say Bank of America (BAC) shares are oversold a day before Q2 results are out, but the stock was similarly oversold the last time it reported quarterly results; it fell 2.4% that day, and gapped even lower the next session. BofA -2.6% at $9.74, off a two-year low of $9.53 intraday (also). Financials (XLF -1.5%) lower across the board; European banks fare even worse.  [View news story]
    Break all these investment/commercial banks apart so we can finally start the economic recovery.

    BAC. See you below $8.
    Jul 18 04:06 PM | Likes Like |Link to Comment
  • July Empire State Survey: Manufacturing -3.76 vs. +4.2 expected, -7.79 prior. Employment 1.11 vs. 10.2 prior. New orders -5.45 vs. -3.61 prior. Prices 5.56 vs. 11.22 prior.  [View news story]
    Transitory my friend. Nothing to see here..move along and BUY BUY BUY some more undervalued stocks.
    Jul 15 08:56 AM | Likes Like |Link to Comment
  • Citigroup (C): Q2 EPS of $1.09 beats by $0.13. Revenue of $20.6B (-7% Y/Y, +5% Q/Q). Shares +2.6% premarket. (PR)  [View news story]
    And yet they still don't mark to market and rely on FED 0.25% interest loans to survive.

    Now how can that be?
    Jul 15 08:46 AM | Likes Like |Link to Comment
  • Recent polls suggest that Americans are willing to accept some increase in taxes to reduce the deficit, Bruce Bartlett writes. Republicans, take heed.  [View news story]
    Raise taxes on everyone, especially the most wealthy. Forget this nonsense that business won't hire and expand if they have to pay 3-5% more taxes. Then cut all spending and take that extra tax money and pay down the debt. I will gladly pay more taxes for benefit of future generations.
    Jul 14 06:52 PM | 6 Likes Like |Link to Comment
  • Ron Paul on whether the U.S. AAA credit rating is worth saving: "Probably not. I think if you had a market evaluation on this issue, it should have marked down a long time ago... Long term, I think raising the debt limit is a negative because it delays the inevitable. It will give us much bigger problems down the road."  [View news story]
    Please don't buy into the bi-partisan charade. This is an American problem impacting every American. These Democrat/Republican arguments are a waste of energy and a smoke-screen for the naive gullible and disillusioned folks that have been brainwashed to think one party will do so much different than another. They both will spend more than they have. The only difference is where the money is going. Either a) the corporations and elite get most of the $$, or b) the middle and lower class survive another generation. Take your pick. Either way, this lock-step political mentality where nothing gets done is a detriment to us all.
    Jul 14 04:23 PM | 2 Likes Like |Link to Comment
  • Stocks give up their gains and the dollar catches a bid as Bernanke backs away from ideas of QE3, saying - in answer to a Senator's question -  the outlook now is "more complex" than before QE2. "We are not prepared at this point to take further action."  [View news story]
    Stop punishing the responsible savers.

    No QE 3
    Raise rates
    No free money thru discount window

    Best thing for USA is strong dollar, less imports, higher rates. Energy plan is the key to putting this all together.
    Jul 14 11:28 AM | 1 Like Like |Link to Comment
  • Ron Paul on whether the U.S. AAA credit rating is worth saving: "Probably not. I think if you had a market evaluation on this issue, it should have marked down a long time ago... Long term, I think raising the debt limit is a negative because it delays the inevitable. It will give us much bigger problems down the road."  [View news story]
    This is real simple:

    1) Raise individual taxes on everyone and repeal Bush tax cuts.
    2) Raise corporate tax rate and close off-shore loop holes that help US companies avoid paying US taxes.
    3) Cut govt spending in every category, especially Iraq/Afganistan war spending.
    4) Immediately create energy plan (Nat Gas bridge fuel and domestic drilling etc) to reduce the 500 billion annual deficit paid to foreign countries for US oil.
    5) CFTC force CME to immediately raise margin requirements on all commodity trading and limit number of commodity futures contracts (especially oil) that can be purchased by investment banks.
    6) Stop Bernanke from spending taxpayer money on his best friends on Wall St- ie no QE3.

    There, problems solved.
    Jul 14 11:24 AM | 5 Likes Like |Link to Comment
  • Senate Republicans unexpectedly proposed yesterday that Pres. Obama be given new powers allowing him to request an increase of up to $2.5T in the debt limit as long as he simultaneously suggested spending cuts of greater size. Notably, legislative technicalities mean the debt limit increase would be a shoo-in with no guarantee the spending cuts would ever face a final vote.  [View news story]
    Raise debt ceiling.

    Raise taxes for all, including repeal Bush tax cut.

    Cut spending across the board.

    That's the only logical choice.

    Contrary to Bohner (moron) this is EVERYONES problem, not just another bi-partisan smokescreen diversion.
    Jul 13 09:54 AM | 2 Likes Like |Link to Comment
  • Just wait for Q2 earnings, optimists said back in June - and after an ugly jobs report, bulls are doubling down on that hope. But estimates are down 4.3% from a May 13 peak, Dave Kansas notes, and financials could be especially disappointing; maybe too much pessimism has become too much sunshine. Still, won't it make earnings surprises more likely?  [View news story]
    What do you base your sentiment upon? What will fund the rally, and with new money from where?
    Jul 9 05:06 PM | 1 Like Like |Link to Comment
  • The IMF approves the disbursement of €3.2B ($4.5B) to Greece under a joint bailout package with the European Union.  [View news story]
    And somehow we (politicians) allow talk of SS and Medicare cuts so we can support the Greece retirees. Something's not quite right here...
    Jul 9 05:02 PM | Likes Like |Link to Comment
  • With Europe safely in bed for the weekend - Stoxx 50 down about 2% this week vs. flat for the DJIA - will American stocks again find the afternoon coast clear for a rally?  [View news story]
    Just like yesterday.

    July 1st or July 5th, ready for some action....
    Jun 24 12:09 PM | Likes Like |Link to Comment
  • The timing of the release of 60M barrels of oil is a puzzle: The war in Libya, the purported cause of the move, has been raging for months, and prices had already fallen ~10% since April. So why the release now? This isn't really about oil; it's the economy, stupid. Some see it as "a sign of desperation" with prices recovering after a few months.  [View news story]
    I'll say it again. If Obama really wanted to lower oil prices, he would TODAY force, in the interest of national security, the CFTC to mandate the CME to raise oil future margin requirements and limit contracts that can be purchased by non-transport commercial banks; ie GS, MS.

    That would send price per barrel down to $75-$80 in 2-3 days.

    And then TOMORROW he could introduce funding/bill to convert all over the line transports and fleets to Nat Gas, paid for with a tax credit. This would be a bridge fuel to supplement oil. Price per barrel would then go down further to $65-$70 range.

    Then next week, he could boost domestic production (regulated of course- especially mystery fracking fluid) and make another push at alternatives, such as algae, lithium battery etc.. This would push oil down to $55-$60 range and allow Main St to start spendig some money again on discretionary goods instead of gasoline.

    But most important, this would decrease our dependence on foreign imports and cut of trade deficit by about $250 BILLION per year
    Jun 23 11:58 PM | 2 Likes Like |Link to Comment
  • The dark side of the oil inventory release, according to Gregor McDonald: It's counterintuitively bullish, not bearish, for prices. Yes, oil prices will be rocked for months, but an inventory release highlights the fundamental problem of structurally restrained supply. The OECD could have turned to non-OPEC producers and asked them to produce more, but they have no spare capacity.  [View news story]
    If Obama really wanted to lower oil prices, he would TODAY force, in the interest of national security, the CFTC to mandate the CME to raise oil future margin requirements and limit contracts that can be purchased by non-transport commercial banks; ie GS, MS.

    That would send price per barrel down to $75-$80 in 2-3 days.

    And then TOMORROW he could introduce funding/bill to convert all over the line transports and fleets to Nat Gas, paid for with a tax credit. This would be a bridge fuel to supplement oil. Price per barrel would then go down further to $65-$70 range.

    Then next week, he could boost domestic production (regulated of course- especially mystery fracking fluid) and make another push at alternatives, such as algae, lithium battery etc.. This would push oil down to $55-$60 range and allow Main St to start spendig some money again on discretionary goods instead of gasoline.

    But most important, this would decrease our dependence on foreign imports and cut of trade deficit by about $250 BILLION per year.
    Jun 23 03:46 PM | 2 Likes Like |Link to Comment
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