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Northern Dancer

Northern Dancer
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  • Blackrock: Stocks Will Grind Higher [View article]
    For all intents and purposes, this is the 46th up day in a row. With that kind of manipulation, Blackrock didn't exactly stick their necks out too far with that prediction did they Joseph? You'd think their record would be a little better with such a powerful crystal ball.
    Apr 13 02:40 PM | 5 Likes Like |Link to Comment
  • After 11,000 It's Off to the Races, Right? [View article]
    Right. The market has by all measures simply entered "bizarro" world, so as long as Goldman (and let's face facts, it's Goldman and the rest of that den of demons, acting on behalf of the FED, who are buying this ridiculous thing) want to run it to 97K they will do so, and with impunity. Eventually though, since they are showing complete and utter contempt for the dollar and for all the idiots who have in the past loaned money to the USA, the FED is probably tempting fate as it's becoming inevitable that we're likely going to be seeing pitchforks in NY before we'll be seeing any true and lasting growth in the American economy (or any global economy for that matter). They're purposely setting the USA up for total destruction and are getting away with it scott free... until the people wake up that is. It's all by design, let there be no mistake about that. Let's hope the useless eaters (as they are referred to by "the Club of Rome") wake up soon.
    Apr 12 02:50 PM | 2 Likes Like |Link to Comment
  • Commercial Delinquencies Rise Again, Data Goes Ignored by the Equity Markets [View instapost]
    This data has indeed been ignored, but so has any and all other negative data. I think that's mostly due to the fact that the only people trading this market is the FED via it's minions GS, JPM, BAC, etc., and as long as they're going to provide the illusion that the markets can "never" go down, investors will continue to ignore everything. Unfortunately, the longer these crooks manipulate the markets, the harder it's going to fall once they open the trap floor under it.

    When they do though, you can bet that they've gotten themselves well positioned for the crash. They'll have to because there literally are no buyers left. Unfortunately, the mutual funds will not have hedged their bets enough, nor properly, and will "stay the course" just like the lemmings they are. Mutual fund managers are not permitted to consider the concept of "down". In their world, that word does not exist, nor are they allowed to look it up in the dictionary. The innocent retires and honest Americans who have steadfastly contributed to their own retirements in the form of mutual funds will get crushed... absolutely crushed. Obviously, the most important question is "when"? With the Dubai crisis and the Greek crisis and the next 40 crises that are just below the surface are truly recognized for what they are, and the bond vigilantes exert their will on rates... it will already be too late. Soon. Thanks for another great article Reggie. I just wish mutual fund managers would read it, but their not allowed to.
    Apr 12 12:56 PM | 1 Like Like |Link to Comment
  • As the Dow Retreats, Buy the Dip [View article]
    Confucius, is that you?
    Apr 8 11:17 PM | 1 Like Like |Link to Comment
  • Chances of a Double Dip in Europe Appear to Grow by the Day [View article]
    Somehow I see that as about as savory of a prospect as being asked to sell one of your children when you get into financial trouble. It actually happens in some countries, but still.... not an option in my world. That would be like asking the USA to sell Florida in order to raise cash. Americans would be quick to tell anybody where to stuff that idea, and the Greeks should do the same.
    Apr 8 11:13 PM | 2 Likes Like |Link to Comment
  • Headline of the Day: Snapping That Losing Streak (Plus Some Bullish Signs...) [View article]
    Yeah, I nearly went cross-eyed when I saw the NASDAQ go on a full blown melt-down, down nearly 1/10th of a percent before the bots came in to rescue it.
    Apr 8 10:47 PM | 1 Like Like |Link to Comment
  • El-Erian: Greek Debt Resolution is not a Done Deal [View instapost]
    John, thanks for some words from the wise. My problem has been that I haven't been thinking in terms of how long it takes for credit crises to resolve. I've been expecting at least a reaction immediately... every day I've been expecting a violent reaction. But as you say, the world really hasn't caught on yet. The true implications, once really seen for what they are, should result in a very serious and snappy adjustment in the global markets. But I agree, an ultimate resolution will take a very long time.

    My personal view is that I expect some serious strength in the USD to emerge for two years perhaps, and a consequential drop in the equities markets. But ironically, a strong dollar should also result in rates being held somewhat in check because even if the FED prints enough money to buy all the new treasuries over the next two years, they're spending that money, not lending it. A big difference I think in that the enormous degree of money creation that comes from making loans will be missing. The FED's seed money will not be planted, but eaten instead. So I'm not so certain we're going to see that 30 year trend line in bond prices being broken after all. Perhaps in the long end, but to a lesser extent in the 20 yrs., and even lesser in the 10 yrs. issues.

    stockcharts.com/h-sc/u...

    But as you say, 80% of the world economy is involved in the credit crisis, that alone virtually guarantees that credit contraction is inevitable. A deflationary depression is all but guaranteed if I read things right.
    Apr 8 04:34 PM | 1 Like Like |Link to Comment
  • Unemployment Claims Data Disappoints [View article]
    Karl, I think you're missing something in your knowledge about economics. A disappointing jobs report that would suggest the economic recovery is anemic at best is good news. It has to be, because Citi is yet again today the beneficiary of the Goldman goose, accounting for a full 12% of all shares traded today, the day of this good news that there are no new jobs. And Goldman is laying its own goldman egg today, up 2.2%... no doubt due to this terrific jobs disappointment. Either you are mixed up about economics or... logic has been suspended from reality until further notice by the President's Working Group on Financial Markets. Laughably, many investors still think the PPT is a myth:

    en.wikipedia.org/wiki/...

    I don't know why these people are allowed to abuse these powers and commit these crimes as the world watches. I think it has something to do with the fact that the gallows hasn't been used enough in modern times when it comes to the crime of debasing the currency.
    Apr 8 01:20 PM | 6 Likes Like |Link to Comment
  • El-Erian: Greek Debt Resolution is not a Done Deal [View instapost]
    I think El-Erian's concluding statement should be read about 6 times out loud. It's probably one of the greatest understatements we're going to hear for quite a while. This is exceedingly important and dangerous stuff he's warning us about... and he's not joking. Let's review it one more time, shall we:

    "Buoyed by a cyclical recovery, markets around the world have yet to recognize the complexity of this situation. When they do, it will also become apparent that Greece is part of a wider, and historically unfamiliar phenomenon – that of a simultaneous and large disruption to the balance sheet of many industrial countries. Tighten your seat belts."

    "... historically unfamiliar..."
    "... simultaneous and large disruption..."
    "... markets have yet to recognize..."
    "... will become apparent..."
    "... Tighten your seat belts..."
    "... danger Will Robinson..."
    Apr 8 02:45 AM | 1 Like Like |Link to Comment
  • Canadian Dollar: Caution Warranted [View article]
    Yes, I agree totally. I think $1.03 - $1.05 is a range that won't be surpassed probably in the next 5 years... unless....

    The only caveat to my opinion is that although I do expect the US dollar to show surprising strength over the next 2 years as a generally unexpected deflationary world evolves before our eyes, the CAD/USD relationship would be fairly easy to manage and to hold at perhaps $0.98 - $1.03. But beyond 2 years, it's entirely possible that the American currency will ultimately revert to it's ultimate path and probably at an increasingly accelerated pace as credit expansion once again gets going and the economy truly (this time truly) begins to grow anew.

    At that time we can expect inflation like never before (in USD terms), bull markets in equities to return like never before and a crash in the USD that would coincide with incredible amounts of new money creation as the economy begins to expand in real terms, not in media spin terms. Via the magic of fractional reserve banking (if it's allowed to work properly once again) loans to American business should blossom creating trillions of new dollars (95% of all money on the planet is loaned into existence) that would ultimately spell the demise of their own worth. If (and only 'if') the world of economics evolves something like that... the Canadian dollar could indeed surge beyond $1.20 as it would rightfully disconnect from the imperiled US dollar.
    Apr 8 02:02 AM | 4 Likes Like |Link to Comment
  • Canadian Dollar: Caution Warranted [View article]
    ditto that... what a super good contribution by bob adamson.
    Apr 8 01:48 AM | 4 Likes Like |Link to Comment
  • Canadian Dollar: Caution Warranted [View article]
    It just pisses me off to no end when a completely legitimate opinion like yours gets hit with thumbs downs by the drive by shooters. Good comment E Nuff. I'll get thumbs downs for defending you and I couldn't give a shyt... it's just the principle of the thing.
    Apr 7 01:27 PM | 8 Likes Like |Link to Comment
  • Canadian Dollar: Caution Warranted [View article]
    "When the news is uniformly good, and the price of the beneficiary of the good news is historically high, that is the time to be cautious."

    When the news is uniformly bad as in the case of the American economy, which is stifled with a horrendous fiscal status that is deteriorating every single day, and the price of equities are up for the 42nd day in a row on steadily declining volume in the face of a new trend of rising interest rates, that is the time to be cautious.

    To my way of thinking, the second sentence above makes far more sense than the first one, and yet Mr. Grannis has never (as far as I know) cautioned that the stock markets are in a bizarre and dangerous lala land inside a totally fictional Goldman universe that threatens our very existence, let alone our financial futures. I think that's where caution makes a little more sense.
    Apr 6 08:00 PM | 7 Likes Like |Link to Comment
  • Topics for a Toppy Tuesday [View article]
    Phil you mentioned the Loonie nearly on par with the USD. At this moment, it has surpassed the USD slightly and it's not a good thing for Canada... but it's good for the USA who imports more goods from Canada than from any other country.

    From the American point of view it might be important to realize that if the Canuck buck continues to rally (and every indication is that it will) it takes some pressure off American purchases but at the same time makes it more difficult to sell Canadian goods abroad. The loonie has been rallying relative to almost every (if not "every") currency in the world and all the while, without the Bank of Canada having yet raised rates.

    The Australian dollar has been getting a lot of press because of its strong showing as well, but that's mostly due to the fact that the Aussie dollar is tied much more to China than the US economy which is probably not nearly as healthy as the media branch of the FED press will have us believe. On top of that, the Aussie dollar has been supported by several interest rate hikes of late. Only three months ago I thought the Aussie dollar was looking so strong that it might even overtake the Canadian. But now it's become clear... it won't.

    With mounting pressures on the governor of the Bank of Canada to raise rates, it's only a matter of time before he pulls the trigger. The problem is that he doesn't want to fire that shot before the USA does. According to Ben, it's going to be a long wait... longer than Canada can hold out. So it looks like the first rate hike in Canada will be in June and the world of currency traders are very aware that Canada's problem is holding that strong currency back. So it's a pretty safe bet that the loonie is going a lot higher despite every effort by Canada to hold 'er back. It's almost like trying to hold back a healthy thoroughbred that wants to run hard. Sooner than later, it's gonna take off big time. I don't mean to overly dramatize it, but it really is not good news north of the border, but it is good news for the USA, especially if oil continues to surge.

    With currency pairs being as important of a factor in international trade relationships as they are, it's too bad China (USA's second largest trade partner) isn't willing to play an honest game like Canada does. If China would play the game fair like the Canucks do, it would be a double whammy of good news for the USA. It's understandable then why the USA is constantly harping at China to let that currency strengthen as it should.
    Apr 6 11:31 AM | 5 Likes Like |Link to Comment
  • Jobs Report Summary: No Huge Surprises but Enough to Spur Monday Morning Melt-Up [View article]
    I just came back to admit I was wrong about the green Monday thing. But I stick by the rest of my comment... the pump jockeys are making this so ridiculous that it's almost become laughable. A 20 year trend line on bonds is about to be broken and it's being interpreted as good news. In a past life it might have been good news, but not this time, considering what's causing it. Jeez... what next?
    Apr 5 07:46 PM | Likes Like |Link to Comment
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