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I am off to Columbia, where myself and Yves Smith of naked capitalism are presenting on Blogs, the Economy, and The Mainstream Press to the The Punch Sulzberger Fellows at the News Media Executive Leadership Program at the Columbia School of Journalism.
Heady stuff, and it should be fun. (behave in comments)
A great post on the $usd is up at http://jessescrossroadscafe.blogspot.com/
PS. Meant to THANK YOU, Barry! Have fun with Yves! You’ve left us a wonderful forum in which to rant and rave.
DANG!
“Miss a little and miss a lot!”
I wish I had been around more…
On a separate note, it’s humorous to hear Charlie F-ing Gasparino call you out; he who singlehandedly launched several short-covering squeezes this past 1st quarter with his “reports” on MBIA and Ambak.
another not to be missed post, this time on LEH:
http://immobilienblasen.blogspot.com/
Don’t know if you’ve already left yet. But I worked in financial news and the number of people who could actually read a balance sheet was near zero.
The number one thing journalists who cover business news need to realize is that unless they develop basic quantitative/analytic skills they will never be anything more than sock puppets.
I think those Sulzberger Fellows would rather be punched by Yves than by you…
Don’t know if you’ve already left yet. But I worked in financial news and the number of people who could actually read a balance sheet was near zero.
The number one thing journalists who cover business news need to realize is that unless they develop basic quantitative/analytic skills they will never be anything more than sock puppets.
What, your not taking Charlie with you? He’s one of them there excutive jounalist, is he not? lol
Two of my mostest favoritest bloggers, Yves Smith and Barry Ritholtz.
Sorry to miss it!
@ Karen,
Nice post on the $ from Café Américain.
I have been watching USD 80 very closely also.
If you are correct then the $ rally may be about to end, which is bullish for gold and possibly energy and commodity stocks, which have been beaten senseless lately. I have been slowly backing out of Treasuries and putting a toe into gold mining stocks. Probably a few days early, but that’s invariably the case.
The financials, well they are obviously toast, some more so than others. I still think retail stocks are the best short now as a group, and just think if oil and gasoline were to rise again…
agree, agree. posted on the other article that i bot gdx today. i’ll buy a second round below 28.57. it’s a great index with great volume rather than picking individual miners.
Barry Barry Barry — English!
Not “I am off to Columbia, where myself and Yves Smith …”
But “I am off to Columbia, where Yves Smith and I…”
:D
barry, could you and Yves hug and tell the other that a guy called john thanks you?
Anonymouse…As long as Maria takes home the paycheck that she does, I’m not sure she has much incentive to be more than a sock puppet. It is the fault of investors that we get the garbage we do.
Barry’s is the überblog, although I think Yves is excellent, CR is astonishingly prolific and Mish invariably thought-provoking.
What I like about this blog is that the comments are a bonus. Most people who post here can think in more than one dimension, not to mention spell and express themselves in complete sentences.
I’m not much of a theorist, more of a trader, but I think I have been persuaded that although we are basically taking a ride on the D train, that it is not quite like the Japanese shinkansen (after all this is an American train we are talking about).
Occasionally Driver Paulson and Engineer Bernanke will announce that there has been a problem with the engine, and that we are going to be ferried along to the next station on the Devaluation Bus (The I Bus), and that the detour might take a while before we get back on the train….
Do we need a trigger for this or is a technical level in the $ enough? If so USD 80 is right overhead now.
I hope the Old Grey Lady sends some stenographers to take notes and give the Sulzbergers a clue.
Otherwise, one of these days we’ll read that The Big Picture has bought out the Times and made it a subsidiary of the growing TBP blog empire.
Yeah!!!! go Lions.
It’s market whack-a-mole.
Everytime it sticks its head up above resistance you whack it back down in its hole.
The longer selling the rallies works the harder it will be to break the pattern.
$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
Call up your broker and ask to take your money out. They are getting concerned!!!!
Yes, I know because I did it.
Is it just me, or does someone else think $200B seems like a stiff price for a 2-day net gain of 10 points on the Dow?
Ah, good old Columbia J-school. I myself am an alumna. Please say hi to all those luddites, and impress upon them the need to focus *all* their attention on online media going forward. Use your blog’s routine scoops on the MSM as a talking point…
VT Trader:
I love the whack-a-mole thing, that’s utterly brilliant !!
Bet you had your SKF on today, good job.
Put on some longs today – DIG and GDX.
Call me contrarian, let’s see if we get a downturn in the $.
I only caught 1/2 of today’s fade but I am a trader after all. I watch my boys on Tuesday afternoon and I have a rule that I have to cover all my positions when they wake up from their naps.
after all, You can’t buy your life back
I just went long in aftermarket after seeing FDX and TXN news..
There are some stocks that are starting to be very very tempting….
Dang. Two of my very favorite bloggers presenting at the same forum.
How about a west coast appearance?
;-)
Vermont Trader-
I’m not sure about going long just yet. Lehman is reporting early. They will report after the close. So Thursday is going to be interesting because the Fed and US Treasury will not be able to help/save them like they did Bear Stearns.
Barry
Any chance of seeing the presentations online?
I’m a day trader so don’t read too much into my positioning on a given day.
Plus my overall market view is a range trading market between roughly spx 1200 and 1300 but also coiling to the 1250 level. I would expect it to break up or down next week on FOMC day. I am long tern bearish but I don’t think earnings will roll over enough yet to really put the market down.
I think the big difference between the previous lows and the current lows is that before it was all financials and consumer names but now a much broader range of companies have been beaten down. You should look at where the major sector ETF’s were trading at the various lows this year…
If they can keep financials flat and rally any of the other major sectors (energy, tech) then we will move up.
Finally it was obvious that there has been forced liquidation in big hedge fund holdings the last few days. When that last sell order is executed the market will explode.