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Northern Dancer

Northern Dancer
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  • Continuing Rout in Greece Stokes Volatility [View article]
    That's a fact and unfortunately it's only the beginning. As John Mauldin said: "The US dollar is the worst currency in the world, except for all the others". There's a lot of truth in that. With more threats of sovereign defaults sure to come to the surface soon, the demand for "safe" US dollar denominated paper will logically increase at an accelerating pace from here. As Moon says, the US is more than willing to supply it and all the while holding rates down. Is this "artificial" or "realistic"? In this bizarre world, I think it's realistic, as insane as that sounds. If it continues, and I don't see why it wouldn't, we're looking at inflationary influences (the production of more debt in US terms) in the USA and deflationary forces everywhere else (the reduction of a certain amount of debt and credit contraction). And all the while, no banks are lending into the economies, where the vast majority of credit expansion normally occurs.

    So while I've been anticipating deflation first in the USA, followed by an inflationary cycle like never seen before, I may have it backwards. The FED will print all the money it needs to buy all the treasuries it wants, and all the while the dollar is in high and increasing demand due to even bigger credit problems almost everywhere else? It's a situation that is just so bizarre that it's hardly believable. But is there any doubt how it ends? Ultimately it ends with the big banks and their owners, the global banking oligarchy, owning everything on the planet including your grandchildren's slave labor. That is, unless we put an end to the FED and see the creation of an American central banking system that is owned by Americans, not by a foreign offshore banking cabal. That would be a logical place to start, don't you think?
    Apr 23 02:11 AM | 4 Likes Like |Link to Comment
  • Amazon.com (AMZN): Q1 EPS of $0.66 beats by $0.05. Revenue of $7.13B (+45.9%) vs. $6.87B. Sees Q2 operating income of $220-320M vs. $328M consensus. Shares -5.3% AH. (PR)  [View news story]
    Cheesecake Factory beats estimates, down 3.6% after hours
    Western Digital beats estimates, down 1.6% after hours
    Microsoft beats estimates, down 4.0% after hours
    Amazon beats estimates, down 5.4% after hours

    Capital One Financial beats estimates, UP 5.5% after hours.

    See how it works?
    Apr 22 10:23 PM | Likes Like |Link to Comment
  • A Better Question Than Who to Blame for the Financial Crisis [View article]
    Who is John Galt? Where've you been living, under a rock? John Galt is the most famous tubby slimeball who ever lived under a bridge and sold cookies for a living. But he posts excellent commentary on SA and he's a friend of mine, so get off his case.
    Apr 22 04:36 PM | 5 Likes Like |Link to Comment
  • A Better Question Than Who to Blame for the Financial Crisis [View article]
    You could be right Gary. I just went on a bit of a rant because they're tickin' me off. lol But I'm serious about what I wrote.

    I guess the question is about how they react when the bond vigilantes start to push treasury rates higher. On second thought, maybe the vigilantes couldn't even push rates (American rates only) higher if they wanted to, because the FED will buy the new debt requirements... maybe ALL OF IT. They've clearly started to buy the new issuances themselves (under some foreign names or whatever deceit they need), monetizing the debt and holding rates down by printing gargantuan amounts of unseen dollars. God only knows what the true amount is but I'd bet it's a heck of a lot more than what we're being led to believe.
    Apr 22 03:42 PM | 7 Likes Like |Link to Comment
  • A Better Question Than Who to Blame for the Financial Crisis [View article]
    In order for the SPX to go to 23,200 the dollar would have to go to approximately zero. It's now appears evident (after seeing one mindless run-up after the other) that that's just fine with Bernanke. The bond market will soon be void of any buyers at all... other than the FED itself. They'll just print more worthless paper and the FED will buy it and the dollar will fall even faster. It's basically all over... the dollar is going to zero. The FED is clearly saying so. They don't even care anymore about what the bond vigilantes might do. They'll just print enough money to monetize the debt and avoid default at any expense... the expense of the dollar. We can now expect to see the markets go to infinity and the dollar to go to 1/infinity. Treasury rates might go to 41% but Bernanke doesn't give a damn... they've proven that they'll just print "whatever it takes".

    Investors can have AAPL at $2,900 per share but by that time, it will also cost $300 to buy a baseball. That's why there are no foreign buyers at all in the American markets these days... nobody. I've been envisioning a deflationary scenario as implied by all the default threats all over the globe, but I now see that no matter what happens with offshore bonds, nobody will ever again be interested in anything American. Not bonds, not equities, not real estate, not the dollar. It appears "their" goal is to totally isolate the USA from any foreign interest. Why?... I'm not sure, but it's working. When the defaults start to come in every other week, there will be a natural desire to seek safety somewhere, but wherever it is, it won't be anything American... Bernanke is making sure of that. And today the Bank of Canada is even saying 'screw this, we've run out of patience with you'. BOC governor Mark Carney today announced that "the days of extraordinary liquidity are over". The loonie has been like a thoroughbred horse being held back... it wants to run but they can no longer hold it. Watch for the loonie to go through the roof, bad news for Canada and bad news for the USA.
    Apr 22 03:10 PM | 8 Likes Like |Link to Comment
  • Historical PE Ratios: Marking the Tops of Economic Expansions (and Warning of Coming Economic Contractions) [View instapost]
    Haha. You hit the nail on the head once again Michael. "Bought off" is right.
    Apr 21 09:26 AM | Likes Like |Link to Comment
  • Canada's Bubblicious Mortgage Deals [View article]
    The Canadian government bails nobody out... except that perennial loser Air Canada. Air Canada is probably the most despised airline in the world from the viewpoint of customers. Westjet on the other hand is the most respected and actually 'loved' corporation in Canada...absolute top of the heap. Amazing that two such diametrically opposed operating styles can reside in the same country.

    But as far as bailouts for individual mortgages... no way. I might add that when CIBC says you "might" qualify for a zero down as Edward highlighted in yellow, they mean "qualify". If you're anything other than top notch, you don't qualify and believe me, they check you out. If you get a zero down mortgage, you can afford the payments... period. Flaky liar loans just don't cut it in Canada and they never did. It's always been a bit of a struggle to get a loan north of the border. You can borrow from a bank if you can prove you don't need the money. That's a bit of an exaggeration to make a point... that views that Canadian lenders are reckless are just not true. Up here banks are still banks, not stock market manipulators and the natural result is that most of their profits come from lending money into the economy. That's what real banks do. So naturally they're more careful.
    Apr 21 09:02 AM | 8 Likes Like |Link to Comment
  • 4 Reasons Why the Goldman Sachs Fraud Scandal Is So Dangerous [View article]
    That one's just too funny buzzer. Thanks for the chuckle.
    Apr 21 01:07 AM | 1 Like Like |Link to Comment
  • Historical PE Ratios: Marking the Tops of Economic Expansions (and Warning of Coming Economic Contractions) [View instapost]
    Of course it should be detached from politics, it's not even American owned. Why in hell is a foreign owned banking cabal supplying the American money and then renting it back to Americans? Americans should be doing that.
    Apr 20 10:03 PM | Likes Like |Link to Comment
  • On Pitchforks, Vampire Squids, And Simon Johnson’s Robespierre Moment [View article]
    They'll meet in the middle, shake hands and finally admit that they're all in this mess together. No more pointing fingers at each other... off to the demons' den on Liberty Street.
    Apr 20 11:27 AM | 1 Like Like |Link to Comment
  • Monday Market Mayhem: Is Goldman's Goose Cooked? [View article]
    I doubt their goose will be cooked until the investing world realizes that the theft portion of the GS "profits" may have to be returned. And of course GS won't be forced to return those stolen funds unless the corrupt courts of law deem it so. The equally corrupt SEC knew all along what Goldman was doing, yet were so well paid to turn their eyes other way that they too went down the dark path. That's why I'm so suspicious of the charges to begin with. Why now?... although it also stands to reason that if GS was ever going to be exposed it has to happen "some time".

    Although it's a fantastic turn of events that GS has been exposed and charged, how can we not be suspicious that underneath all the news, Goldman is weaving yet another web of deceit? Perhaps the entire story is a distraction or an event whose main purpose is to instill the illusion that the SEC is "on the job" of protecting investors' interests. They aren't. And Goldman is powerful enough and more than dirty enough to emerge from this with even more authority. They already have their minion Geithner politicking for even more powers. God... these pigs are incorrigible. We can only expect to see any real changes when 95% of congress are sent for a 15 year vacation at the FEMA Hotel and replaced with human beings. What would work very well would be a "real" watch dog agency (other than the FED's comedy branch, the SEC) who enforces the laws with the gallows for as long as it takes until the message is finally understood.
    Apr 19 10:44 AM | 9 Likes Like |Link to Comment
  • The Connection Between Low Volume and High Frequency Trading [View article]
    Do you not consider people who've lost their homes as victims of predatory banking? Banking that gave many of them loans that were larger than they qualified for? Of course they're victims. In many cases, possibly "stupid" victims, but victims nonetheless. We need to keep in mind how euphoric the real estate market was when it was being sent to lala land by easy money that bankers were begging people to borrow.

    "You need a $400K mortgage? No problem. Let us throw in an extra 20% and make it $480 so you can go on a nice vacation too. After all, flipping burgers for $87K a year salary must take up a lot of hours. Have fun!". That's what it was like and it was difficult for many people not to get caught up in it. But as ridiculous as those days were, those borrowers were still victims because the entire charade was all by design. So is the next crash by the way.
    Apr 14 01:55 PM | 8 Likes Like |Link to Comment
  • The Connection Between Low Volume and High Frequency Trading [View article]
    The recent volumes are low because there are no buyers other than the banks. Any time they try to sell with any larger volume at all, it ends up being a red candle day because there's literally a void beneath, a void they created themselves via this endless and mindless run-up. Mutual funds were 97% invested 3 months ago. The pools of "cash on the sidelines" is a myth at this stage. The banks have been trying to distribute since early October, but with no success because, again, there are literally no buyers beneath this market (other than those who propped it up to these crazy levels to begin with).

    What they've accomplished is to ensure with 100% certainty that a simple and logical market "correction" is no longer possible. You'll see high volume all right, and it will be a market top for sure. Your understanding of volume is correct Timray but I respectfully submit that you're missing what's "not" happening this time around. The distribution is "not" happening as you and I would normally expect it to, nor is it going to happen this time.
    Apr 14 09:44 AM | 10 Likes Like |Link to Comment
  • Lot of Bullish Catalysts? [View article]
    The final paragraph was missing several words. It was probably meant to read like this:

    Shares of JPM have rallied over 10% in the last month due to strong buying by Goldman Sachs. Whether all of this is priced into the market is yet to be seen. It’s difficult to imagine that it hasn’t been priced in yet as banks have rallied 24% in just 8 weeks and the S&P has rallied almost 16% over the same period, but this market has a very strong underlying bid from Goldman Sachs and the other major bankers themselves. Any positive catalyst could give the banks further reason to pile on since there are no real buyers beneath this market other than those same banks who on a daily basis flood the market with buy orders in general, and in each others stock in particular. Therefore, the market will rise tomorrow as surely as the sun will rise tomorrow since the banks are reticent to sell into the vacuum below. Might as well run 'er up then and improve the tattered balance sheets while the gettin's good.

    .
    Apr 14 08:02 AM | 8 Likes Like |Link to Comment
  • The Connection Between Low Volume and High Frequency Trading [View article]
    "There is a conspiracy theory about volume, that the low-volume rally implies some kind of market manipulation."

    No, low volume doesn't imply manipulation but it makes manipulation so much easier. For example, when every single index representing every single sector takes a whopping surge in price at the same precise instant in time, right across the board on a massive volume spike, we know full well that "everybody's getting some sugar" from the manipulators. Let there be no mistaking or denying what volume spikes like that, which are seen several times every single trading day in every single index at the exact same fraction of a second within the day, mean. They mean manipulation, end of story. That's not deniable, period. It's too visible to be deniable, ok?

    "As regular readers know, I regard conspiracy theories as uninformed, naive, and mistaken."

    In all due respect to a writer I like, that statement is the most naive "head in the sand" statement I've read on Seeking Alpha so far in April. I dare say you and your family's future are in grave danger if you truly mean that. I implore you, for your own good and for the safety of your family's future, pull your head out and open your eyes. I suppose you think the bird/pig/man/swine concoction flu "pandemic" was a natural occurrence? For god's sake, please don't tell us that you or any of your family members took the vaccines.
    Apr 14 07:29 AM | 16 Likes Like |Link to Comment
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