What The F And Where The H Are We?

Oooops. Sorry i left the drain out of the tub.

Never fear folks stoney has some vibes on this.

First lets start with the ridiculous fact that we could rally today in the face of a very large car bomb being discovered in england! We now know or at least you should that a bunch of idiots graduated from terror school in Pakistan where we couldn't reach them and teams have been sent to London and New York. Happy 4th everyone! This is Al queda and a sharp rally today really made no sense at all.

remember today is the end of the month, the end of the quarter, and the mid-point of 2007... so we should have expected to see some serious volatility, which we did. I'm afraid it's hard to avoid the point that the market seems to have overshot and is now flagging into what could be a flatline unless earnings really impress. Financial stks get nipped hard today because of a comment out of FDIC player Bair-
" Subprime will get worse before it gets better " This hit the tape and Bear sold off hard followed by everyone else in finance. That's a really childlike statement it's SUB prime for gods sake of course it's going to get worse it always does that's why banks are supposed to have tough credit restrictions... idiots. This is a minute part of the overall debt picture of this country and the scare mongers want to paint this picture of a spreading of the contagion to everything you invest in your life insurance company your retirement fund-- I'm not buying it. For the most part capital america is swimming in cash carrying Low debt and can still access money easily.

China growing at 10% GDP shit! They are out of control. Old friend STXS the stent player popped out of a 1 year base today lets keep an eye on it. ~ stoney
 
TERRORIST SURGE?

Ok let me be the first to coin the phrase. I'm watching a car on fire at Glasgow airport as I pack my bags for vacation. Ok the car from England came from Ireland where it was stolen now this attack in Ireland obviously a network has entered Ireland from Pakistan. If you are out in the public this 4th stay clear of SUV's large limo's gas/oil trucks ambulances town cars... This puts a different tilt on next week's holiday shortened trading doesn't' it? -
 
Our British Friends Are In Trouble!

Trading alert* call a Britsh broker this week and make sure they are ok. It sounds ugly over there- dark pouring rain, a flood disaster situation taking up police and fire... perfect cover for terroist attcks.

Working in the Financial district of London will be NO FUN this week... Could our July 4th be a target? I would NOT want to be at that big Washington DC fireworks event....
 
The British are used to these things with the IRA that has placed bombs all over their country for decades.

The terrorist bombs they discovered were not advanced by any means and probably done by amateurs not pros. They were merely some cans filled with gasoline in a car and they were easily discovered.

If this was real terrorism, dont you think they would have an effective bomb and an effective plan?

I would think they would have used some advanced explosives and delivered in a creative way. The flaming car driving through the airport was more of a comedy routine then anything else.
 
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I think we're perfectly set up for a washout on Monday and Tuesday. To the CDO scare we now get to add the terror scare, which may be hyped going into the 4th.
Meantime, background conditions in the market are starting to get much friendlier:

1 - The 10-year had a nice rally on Friday, and is now ready to break 5% decisively. The market is still fairly yelling at the Fed that it's holding the funds rate at far too high a level.
2 - The 13-week bill has been falling in yield. It's fallen from above 5 back in January to 4.69% now. It's been <i>falling all year,</i> a thing which has gone completely unremarked. Actually, the 13 week is now at the level the 10 year was at the beginning of the year, while the 10 year is where the 13 week was at the start of the year, which means we now have a nicely positive yield curve. The spread between this shortest of bills and overnight money (Fed Funds) is more than half a percent by now. Financials that are either unaffected or only lightly affected by this whole CDO thing will rally strongly soon, I think, as they do well off a positive yield curve.
3 - The latest report on corn showed that acreage planted for it is the largest since 1944, according to this week's <i>Barron's</i>. Corn futures fell nicely in response. Ino.com has an interesting blurb on this:

<i>The USDA acreage report estimated that US farmers planted 92.888 million acres, which was 2.303 million acres more that the average trade guesses of 90.585 million acres. The grain stocks report came in higher than expected but within pre-report trade guesses. Given the acreage number and trendline yields we could see a 13 billion bushel corn crop this fall. Barring any weather problems and the expected increase in ending stocks, new crop corn prices are likely to fall well below $3.00 by harvest.</i>

In short, by fall headline inflation could wind up <i>lower</i> than core, due to the above rippling through to poultry and meat producers for whom corn is a principal ingredient in their feedstock.

4 - By now, the dustup in the housing market should be affecting the unemployment report, which is due out next Friday. Should that occur, the rally in bonds, depending on how extended it is by that morning, could wind up really taking off.

So, I think the most likely thing will be a downer on Monday and Tuesday, and then multiple relief rallies on Thursday and Friday off of

a) no incidents occurring on the Fourth (I plan to be there for the fireworks on the East River in NYC, and I plan to have a great time), and
b) a lousy employment report on the Sixth.
 
NEW HIGHS !!

>> Just rolled in off 495 and boy thank GOD I paid (twice) to fix the f*ing air conditioning!

Michael I eagerly tuned in expecting to find a mia culpa from you regarding your doomsday chart.

You kept reserving judgment on the rally. The rally we called oh so very well.

I'm just beginning to put my thinking cap on for the future but my first thoughts are- Just because we have very good earnings doesn't mean the market will keep going up. I can remember a period it may have been 2000 I'm going to have to go through my histories of the market but I remember being frozen in my positions because all my stocks and the market as a whole was tossing in boffo earnings. That turned out to be a huge & costly mistake.

More To Come.... ~ stoney
 
IMMR looks to be up $1! Damn big break out here's the quick story these guy make the buzz you feel in the joy sticks of the Sony Playstation games and.... is there a vibrator in the i phone? I think so and I think they have it... what kept me from buying this? A lawsuit against them by someone huge I think it's MSFT... thinking that was a BIG mistake let it open pull in and get on! But first check why it's moving i haven't even looked yet- back with more picks later but lets start by highlighting as we did yesterday
IMMR>>>>>>>

PS: Got the story > 8:49:06 Comment Tobin Smith of changewave.com just recommended a buy on IMMR with a $30 target in the next 12 months.

Does anyone know who Tobin Smith is? Or what Changewave is??????? I think there's a fattish guy with glasses on Fox & Friends named Toben please tell me this is not the same guy! Need help here stonedinvestors!


Topdown-


Same guy stoney.



06-28-07 02:26 PM

Why me? I finally get a line on something Topdown & I get an unnatural boost to ruin my entry price! and what's worse it's no real investment house just this Tobin character... but wait won't he HAVE to mention this Sunday morn? - I'm almost hoping for a sell off now....

To be continued........

Ok In @ $14.50 level not great not bad...


>>>>> WELL? It's EIGHTEEN FOLKS IN 6 TRADING DAYS and not a one of you apparently went with the recommendation... I don't know folks... don't make stoney run to a competitor where they will be PAYING me for this SAME advice!
 
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