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Tuesday Outlook: Commodities, Emerging Markets

The Band also did "The Night They Drove Ol' Dixie Down"

Well I don't mind choppin' wood,
and I don't care if the money's no good
Ya take what ya need and ya leave the rest
They never should have taken the very best

Tuesday Outlook: Commodities, Emerging Markets

A (my) less charitable view is that covering the wall of the Bernanke/Paulson "war room" is a big sign saying "IT'S THE ELECTION, STUPID!" We've had a housing bubble, and prices are still much higher than they should be. Stops will be pulled as necessary to prevent the voters from worrying too much before November 4th, after which a new game with new players. In the meantime, this administration goes out leaving its successor with more fiscal deficit, no money for national infrastructure and energy efficiency, no money to retool and recruit the sand-clogged military, and everybody in America is living in a "social housing" project under a Chinese-model as well as Chinese-backstopped market. All to keep Case-Schiller from falling to a convincing bottom. Re financials, I recall this time last year when the market was saying, "we'll have to wait for year-end accounting to get a straight story on all that paper. We still don't, and I'm not so sure we'll have the story yet by Inauguration Day. My limit order for more SKF triggered yesterday morning.

Wednesday Outlook: Commodities, Emerging Markets

Re the market gap up and enthusiasm for Financials, yesterday was the first day back after the summer vacation hiatus, so all the 20-something Suspender Boys and Money Honeys turned up fresh for work with lots of cash at their desks and not a clue what to do with it, and had to kill the hours til lunchtime with the guys who knows what's what. Good day to load up on SKF, may not be too many more chances for a while.

Wednesday Outlook: Commodities, Emerging Markets

Re yesterday's gap up and the Financials pop, of course, Monday the 2nd is the first day after the August vacation/Labour Day hiatus, and the all the hot to trot 20-something Suspender Boys and Money Honeys turn up fresh for work with lots cash and without a clue, having to kill the hours until their lunches with the guys who knows whats what. No surprise. I took the opportunity to load up on SKF.