Its the first big linkfest since the new year began — and a three day weekend to boot! Its a big one, so let’s jump right in:
• Dow Rallies Since 1900:
Chart-of-the-Day notes that, as it stands right now with the Dow up
51.6% from its lows, the current rally is classified as fairly long in duration (6th
longest in 105 years) but weak (4th weakest) in magnitude.
• "The accolades bestowed upon Alan Greenspan ahead of his
retirement on January 31st have a strong whiff of irrational
exuberance." So said the The Economist in a pair of cover articles: Monetary myopia and Danger time for America.
• General Motors Death Watch 49: Paranoia Rules
My favorite non-mainstream Automotive site looks into some GM rumors,
including questions about whether their hybrid technology even exists;
• Is 2006 the year the Volatility Trade makes money? VIX options begin trading next month; For the past 2 years, this has been a losing trade. (if no Barron’s sub, go here);
• Win Some, Lose Some Robert X. Cringely’s tech predictions for 2006 (disclosure: I am on the BoD for one of the companies he mentioned);
• The numbers are in on Holiday sales; and they were way below consensus. It was a Good — Not Great — Holiday Shopping Season. Now, we wait to see how much the deep discounting will affect profit margins; (The rest of December retail weren’t so hot either);
• Speaking of el stinko: You didn’t think I would let last week’s NFP number go by without comment, did you?
Employment Recovery Continues to be Sub-par discusses the obvious, while Who’s Dropping Out of Labor Force looks at the demographics of the NILF phenomena;
• Shanghai’s hot housing market has fizzled; What are the implications for China’s economy?
• Perception Management and Inter-temporal Shifting A short and worthwhile look at buy now, pay later;
• For you tax geeks: Buying and selling imaginary goods in computer-game worlds is big business. Should gamers pay real-world taxes on virtual treasures?