His son is graduating today, but he still took time for his commentary!
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You are so wrong about no body reading this. GIVE YOURSELF SOME CREDIT, BIRD. YOU DESERVE IT!
OK….but mostly nobody ever answers.
Personally I don’t answer sometimes because your talking at a depth I don’t feel I can comment.
Your understanding of economics is well beyond my own.
I still try to catch what I can.
Call another gold drop, about time isn’t it?
OK, nasty drop Monday (my opinion only of course..but we are ready for that pile driver that bloodies the new bull-tards).
I read your posts Bird, more when I can actually follow. lol
I have a feeling there are more than a few people that do.
As well as Shad,LPG,Vortex etc
Sry for forgetting anyone.
Yes, you are right. I should not have written that post. Very sorry about that, bb.
Not a big deal.
Reasonable to expect response from effort.
I do try an read almost everyone’s remarks but don’t respond or say something on each point.
Everyone’s input appreciated, but if I don’t resonate with it or if the back and forth is going a direction that I’m not interested in, then I just skim on down or skip over it.
I appreciate all the contributors for keeping the conversation going and bringing their unique perspective to the discussion. Good luck to all.
Best to you too Shad.
Yes usually a big rally like this will generate some profit taking the next week. But it does look like the daily cycle low came on Thursday.
I read your posts Birdman… even the long ones… (I prefer several shorter posts though than single large ones – much easier to read in smaller bursts)… Just because not everyone gets a response doesn’t mean that they aren’t being read.
Why do you think this rally should be sold? Why do you think that Monday will be down.
I was intending to buuy ZIOP and XON this week but held back because of the NFP publication today. ZIOP has had a very good bounce this week and, with XON reporting on Monday night, I suspect it could bounce a fair bit also…. but…
I just don’t feel happy at the moment buying in this market at these levels… It just doesn’t feel right to me… I have missed out on a good profit on ZIOP and I suspect I will miss out on something similar in XON on Monday…. but the markets generally still feel toppy to me and I do not trust this rise today.
Its mainly the chart Bob. I just hate the way the chart looks and my instincts were telling me that great big rally on Friday was out of place. It really did not make sense so selling into that strength looked like a higher probability move so as not to be caught on the wrong side next week.
I was suspicious too that the abrupt rise into a weekend left the impression Monday would be an up day on a continuation of the move. With those recent Janet Yellen comments she made as a way to put a chill on the markets my doubt was heightened.
Third, the Shanghai is correcting. Down 9% roughly thus far and if this is a corrective wave down it looks likely the decline will continue into the new week and that could be a catalyst to pressure other markets if the drop is anything substantive early Monday morning.
None of this is that scientific. I will readily admit that. I could also be wrong and would then join the club of millions who have tried to time an interim top on the way to much higher highs. But it goes with the territory I guess.
US markets have baffled and defied most of us for the past many years, myself included. So this is my big chance to eat some crow next week and look like a big damned fool!
Bird. I & many , many listens & reads.
Cheers Tony.
Increase Interest rates ?
They want to get off zero so that they can cut later on when they fail again. Even if it is only ‘symbolic.’ I would almost guarantee that this is their game plan.
I wonder if they will increase the rate that they pay the Banks on their excess reserves that the Fed provides? That could be another motivation. They *could* play that a bit. Or maybe using rates to drive investors into riskier assets is just for the little people, and they could just use it to increase the Banks’ share in their vigorish.
Thanks Gabriel!
Just an observation:
Why do Al and Cory do the same interviews? It seems highly inefficient to me.
You could both cut your work loads in half if Al interviewed one person, Cory interviewed the next, and so on.
Not my blog – not my business – just a suggestion.
We enjoy doing the interviews together. Thanks Irwin for the suggestion though.
I enjoy both the combined and solo interviews, but prefer the 3-4 person round-table approach best.
Congrats on the graduation.
I really enjoy all the interviews, its refreshing to hear people respond to questions in a way that conveys their thoughts and not just sound bits with no context. I also read and enjoy everyone’s comments. Some very smart people here. Its much better than any TV business program.
RICK; agree with your Illinois assessment completely. an additional issue not jus tin illinois is demographics. The higher income folks leave, or just establish residence out of state, I know teachers who retired at age 55 who moved to florida then and thats several years ago. They had their wages spiked so that at age 55 their benefit as as if they were at age 65. rather generous for a bk state. Chicago is the same of course.
not only this, but in il I do not think our teachers did all that great a jobs and I lived in one of the best districts in the state. all our friends who taught could think of was the summer and winter vacations and retiring. And having the same clas each year so they would not have to redo lesson plans.
Its politically incorrect to criticize neighbors and a problem but they did not produce and gamed the system. The system is broke. So they may get funds for several more years, wait til the market crashes and there is no money. They will whine till the end of time.
when they took the teaching jobs they knew it was not long hours and not high compensation. Now the rest of the taxpayers exist for them and quite frankly, the heck with them.
Sell this rally….that’s my gut talking. I could explain why in a thousand words but what’s the point? Nobody listens or reads these posts anyway. Another one off to the dead letter box.
Just saying….I feel Monday is going to be a downer on the indices.