Sunday, August 28, 2011

Steve Jobs

Gov. Christie ordered the evacuation of Atlantic City for this?

A strip falling off the AC Convention Center?  The petals on flowers didn't even blow off, but the aged and infirmed were told to evacuate to "safer" quarters because of Irene's threat.

Saturday, August 27, 2011

Hurricane panickers scoop up bread and water

They close the casinos in Atlantic City and strip the supermarkets bare. For windstorm and rain?

Thursday, August 25, 2011

Loyal to the end

Jon Tumilson, a Navy SEAL, was one of 30 Americans killed in Afghanistan on Aug. 6 when a rocket-propelled grenade took out a U.S. Chinook helicopter. He was mourned at a service in Rockford, Iowa, attended by 1,500 family members, friends--and Hawkeye, Tumilson's dog.

The Labrador retriever was such an important part of Tumilson's life that the friends and family of the San Diego resident called the dog his "son."

When Tumilson's friend Scott Nichols walked to the front of the room to speak, Hawkeye followed, reports. "As Nichols prepared to memorialize his friend, Hawkeye dutifully laid down near the casket," Scott Stump writes.

Bank of Opportunity on the resignation of Steve Jobs from Apple


Goldman basically toes the same line on AAPL as BAC....

GS 4 (4)

Uncle Warren invest $5 billion in Bank of America!

Boy did Buffett get a sweetheart deal! 6% on $5 billion, and another 700 million warrants at $7.14.

He put his Goldman money to good use!

He's now the chief cheerleader for the bank. (Now BAC can quite blaming Henry Blodget for their troubles!)

And now the shorts get squeezed!

Monday, August 22, 2011

Goldman: Buy CRM

gs 1 (6)

Friday, August 19, 2011

Coming soon: Fibonacci arranged solar cells

Solar cells arranged using the Fibonacci sequence produce 20-50% more power than uniform photo-voltaic panels.

And it took a 13 year old, Adian Dwyer to patent it!

All he had to do was look at trees to come up with the idea!

If Wall Street traders were horses....

HPQ--down 6.66--Could bounce at those numbers

Hewlett-Packard Company Common 

Last Trade:22.85
Trade Time:9:50AM EDT
Change:Down 6.66 (22.57%)
Prev Close:29.51
Bid:22.95 x 700
Ask:22.96 x 25000
1y Target Est:43.00
Day's Range:22.85 - 24.01
52wk Range:22.85 - 49.39
Avg Vol (3m):21,839,200
Market Cap:47.39B
P/E (ttm):5.62
EPS (ttm):4.07
Div & Yield:0.48 (1.50%)

Silver Squeeze!

Remember back when you thought the hood ornament on a Rolls was actually silver?
Remember back when bankers were actually respectable?

Remember back when Carlos Slim was telling you to dump your silver?

A few more dollars higher and we'll start hearing "Got Silver" again!

The rules in a panic

The Rules of a Panic:

He who panics first, wins!

The Bankers panic of 1907 was started by the side bets blowing up.

JP Morgan eventually calmed the masses in that panic when he told the public, "If people will keep their money in the banks, everything will be all right."

The time, the side bet of gold is blowing up in the bankers face. Anyone want to speculate on the banks derivative books with all their other toxic bets?

This time, in the Panic of 2011, if you keep your money out of the banks, everything will be all right!

Time for the bankers to "Suck it up, and cope!"

And then Charlie will tell the world again that "we should thank God for bank bailouts."

Maybe we get a chance for a do-over!

Thursday, August 18, 2011

Face it--The Economy Sucks!!

But that doesn't mean stocks will collapse--until they do!!

The above chart shows what happens when the Philly Fed Index heads into recession territory!

So despite the economy sucking--and it's getting worse--it surely isn't getting better---it doesn't mean stocks need to go down.

But it sure looks like "they" want them down!

But what do "they" know anyway!!

Maybe more than "them!"

Ben Bernanke Interchange

Was driving through Dillon, South Carolina and noticed Ben Bernanke Interchange.

Looks like gold traders have noticed it too!

Friday, August 12, 2011

The Pack visit BO at the White House!

Tebow pre-season

Truth Tellers!

A couple days ago, Meredith Whitney,  gets glammed up to go on CNBC, because now that the market has come in, and S&P has wrongly downgraded the USA's printing press, she thinks it's safe to tell the world, "I told you so!"  She didn't care that any widows or oprhans that listed to her wrong advice to dump munis would lose money. She was just looking for her moment to start selling her broken franchise on Wall Street , and have her "I told you so" moment.

But Rick Santelli called her on the carpet.

"Come on. Think about it. Stick with munis."

That's the closest Wall Street will ever come to telling someone  STFU.

Now the SEC is investing S&P, to see what clients they leaked their downgrade information to. Which is, of course, the reason for their downgrade.

Yesterday Cramer said this rally was a sham. Really? Maybe the sell-off was the sham!

But that's Wall Street. Nobody tells anyone they are full of sh*t. Even when they are.

Yesterday, people referenced this story by Marc Cuban, written last year "What Business is Wall Street In?"

The only people who know what business Wall Street is in are the traders. They know what business Wall Street is in better than everyone else.  To traders, whether day traders or high frequency or somewhere in between, Wall Street has nothing to do with creating capital for businesses, its original goal. Wall Street is a platform. It’s a platform to be exploited by every technological and intellectual means possible.
The best analogy for traders  ? They are hackers. Just as hackers search for and exploit operating system and application shortcomings, traders do the same thing.  A hacker wants to jump in front of your shopping cart and grab your credit card and then sell it.  A high frequency trader wants to jump in front of your trade and then sell that stock to you. A hacker will tell you that they are serving a purpose by identifying the weak links in your system. A trader will tell you they deserve the pennies they are making on the trade because they provide liquidity to the market.

And that's Wall Street. Crashes are just hackers exploiting the system, quote stuffing, rumor mongering, and making a bigger deal out of something that isn't, so they can crash the market and then profit on the way back.

It's nothing more than that. That's the business Wall Street is in.

You know who are the naysayers in this market? They are like Ross Perot Jr. He sold the Dallas Mavericks to Marc Cuban, but he kept a 5% stake. The whining Perot then sued Cuban, because he said he mismanaged the team.

Cuban's lawyers, sent the following brief--with a picture of the World Champion Mavericks.

2011-06-22 WC Mavs and Radical Mavs Mngt MSJ

Two years from now, when the market is at all time highs, you won't hear a peep from today's handwringers!

These bears need a Cuban brief!

Because when it's obvious, you don't even need to say "I told you so!"

Thursday, August 11, 2011

Cramer: The rally is just a sham

Oh boy--Look at Cramer who had this to say today:

The smartest person I know came in yesterday and bought a boatload of stock right into the hideous. She blew it all out today into the strength. She told me point blank that the phoniness and the volatility and the lack of any buying but machine and short-covering made the whole rally a gigantic sham.

So the rally is a sham? Because the downgrade is supposed to mean something????

When CSCO rallies on earnings--it means that stocks have gotten too cheap!

So deal with it!!

A sham???

Maybe the bulls just did this to the bears--who still think it is 2008!!

Oh yeah that's right---and that punch was from a girl!

But if he had a hoodie, he'd look like the most famous boxer on Wall Street--Jamie Dimon!

You want a bear market?

Tiger Woods! He shot a 77 at PGA today!

The market will give you a better V than Woods!

Bulls run from Wall Street to Queens!!! Booyahhh Baby!!!

Bull Rampages Through Queens:

Where did the bears go???

Now that they got the widows and orphans to sell them their stocks, they are nowhere to be found!

Fans swap caught baseballs

Atlantic City vs Vegas Gaming

  • Atlantic City revenue fell 6.5% in July, as slot win fell 3.0% and table win (ex-poker) declined 14.1%. The decline in July compares to declines of 3.7% in June, 6.7% in 2Q11, and 7.3% in 1Q11.
  • The 14.1% decline in table win was driven by a 172bp decline in table hold and 3.2% decline in table drop. Atlantic City gaming revenues fell 9.6% in 2010 after declines of 13.2%, 7.6% and 5.7% in 2009, 2008 and 2007, respectively. July 2011 marked the 35th straight month of decline for the market, which has been negatively affected by the economy and competition from neighboring states (particularly Pennsylvania).
  • Borgata outperformed the market. Revenues were down 0.2% at the property (second best in the market behind Harrah's 1.1% gain). Table win increased 0.1% as a 5.9% increase in drop offset a 66bp decline in hold. Slot win was down 0.3%, better than the market average decline of 3.0%.
  • Only one property in Atlantic City experienced a gain in July. Harrah's was up 1.1%. Trump Taj Mahal (-22.5%), ACH (-13.2%), and Bally's (-9.7%) experienced the largest declines.
  • Market-wide table hold of 13.5% (down 172 bps year over year) was below the normal 14% to 17% range. Only Showboat (17.8%) held above the normal range, while Borgata (11.4%), Caesars (12.7%), and Resorts (9.9%) all held below the normal range.
  • Market-wide slot win fell 3.0%, driven by a 4.0% decline in slot handle. Slot hold was up 10bps year over year. Three properties generated an increase in slot handle during the month: Borgata (+0.8%), Caesars (+7.3%), and Harrah's (+2.8%). The three properties with the largest declines in slot handle were Trump Taj Mahal (-15.7%), Golden Nugget (-13.3%), and Resorts (-11.3%).

Right now there are so many promos in AC, you can gamble for free. Except for the Borgata, all the casinos seem to be chasing the same slot dollars. It's so bad there, they'll be bringing back the diving horse!

Vegas, however is a different story.

  • Positive momentum for Las Vegas visitation and hotel data continued in June; visitation, air traffic, hotel occupancy and RevPAR all increased. Increased visitation supports hotel room revenue growth as well as other revenue streams (such as food and beverage and entertainment), which all have been playing a role in improved operating results on the Las Vegas Strip this year.
  • Las Vegas June visitation was 3,324,290, up 7.0% year-over-year. Convention visitation was up 2.0% at 358,642 in June (versus flat in May, a 2.2% increase in April and a 10.8% increase in 1Q11) while "leisure visitation" (total visitation minus convention visitation) was up 7.6% versus a 3.7% increase in May, a 5.2% increase in April and a 4.0% increase in 1Q11.
  • RevPAR increased 21.1% in June, driven by a 13.1% increase in ADR to $101.15 and a 6.4 percentage point increase in occupancy to 88.5%. RevPAR increases averaged 16.6% in 2Q11 versus a 16.1% average increase in 1Q11.
  • McCarran Airport traffic (enplaned/deplaned passengers) increased 5.6% to 3,592,523. Average daily traffic on 1-15 at the Nevada/California Border grew 1.7%.

Goldman removes Disney from Conviction list

At 31?? After touting it at 44????

And you wonder why they front run hack everyone's order flow???

GS 4 (2)

Wednesday, August 10, 2011

Buy Disney

So the analysts are running from the mouse! Big Deal.

Disney here, at less than 31, (thanks to Wall Street shills) is giving you the best buying opportunity in this name in the past year.

Take it and put it away!

Disney money has a better track record than the Federal Reserve!

For that matter, to a pair trade: buy Disney at 31, and short the VIX at 41!

Buffet is selling bonds

Filed Pursuant to Rule 424(b)(2)
Registration Statement No. 333-164611

The information contained in this preliminary prospectus supplement is not complete and may be changed. A registration statement relating to these securities has been declared effective by the Securities and Exchange Commission. This preliminary prospectus supplement and the accompanying prospectus are not an offer to sell these securities and they are not soliciting an offer to buy these securities in any jurisdiction where the offer or sale of these securities is not permitted.

Subject to completion, dated August 10, 2011
Prospectus Supplement to Prospectus dated February 1, 2010
Berkshire Hathaway Inc.
$              Senior Notes due
$              Senior Notes due

Names to pick up here

FCX 44
CAT 84
LVS 39

And the momo names
NFLX 235
AAPL 367

Everyone has their own version of QE3

By promising ultra-low rates until mid 2013, Bernanke has announced QE3.

Bernanke is doing his best to sell this on Wall Street because Main Street already knows the result!

Fannie and Freddie have announced their own version of QE3 as they become landlords and rent out their foreclosed homes. Supposedly this will help home prices go up.

The offset to Fannie and Freddie is Capital One, who have decided to buy HSBC's credit card unit. Compared to HSBC, Capital One has been very aggressive in the courts on credit card deadbeats, so now mortgage and credit card squatters will soon have another battle in the court, which means robo-signing has gone full circle from mortgage companies to credit cards.

Dylan Ratigan has announced his own version of QE3-a giant infrastructure bank that lends money at 2%, bypassing the extraction the banks suck out of the economy.

And as usual, whatever the end result, Wall Street will try and front run the outcome!

Tuesday, August 9, 2011

Patent violations block Samsung's tablet

For all those folk who think that IDCC's patent portfolio isn't worth pursuing, check out how Apple blocked Samsung's tablet in the EU because it infringed on Apple patents. It of course, ran on Android; and the crybabies behind Android, the boys at the top of Google, are paying lobbyists and decrying the use of patents since Google doesn't have much of anything, when all they really need to do is buy a patent portfolio when it's for sale!!

SAN FRANCISCO—Apple Inc. said a German court has ruled that a tablet computer made by Samsung Electronics Co. cannot be sold in most of the European Union, the latest turn in a patent fight between the two companies.

The preliminary injunction bars Samsung from distributing its Galaxy Tab 10.1 touchscreen tablet throughout most of Europe, with the exception of the Netherlands. The device, which was released earlier this summer and runs on Google Inc.'s Android operating system, is widely considered to be the most promising competitor to Apple's iPad, which has dominated the market since its release last year.

Apple reiterated an earlier statement that Samsung had copied its products, and it intends to protect its intellectual property.

A spokesman for Samsung didn't immediately respond to a request for comment.

A German court representative declined to comment.

The ruling, which was earlier reported by Deutsche Presse-Agentur and the FOSS Patents blog, follows a similar injunction handed down by an Australian court.

In April, Apple sued Samsung in a California court, alleging the South Korean manufacturer infringed on its patents and "slavishly" copied its designs. Legal battles between the Cupertino, Calif., company and Samsung have circled the globe, with filings in various Asian and European countries, as well as the International Trade Commission.

The Bull is Back!!!

So long loser bears, hand wringers, and apocalyptic doomsayers!

Once again, you had your chance to buy!

And once again, you had it served to you on a silver platter!

As Advertised!!

Barclay's tip sheet

1) BULLISH stocks right here, right now. SPX most oversold since Oct 10, 2008
2) Risk lvls down signif while SPX has diverged from copper--our fav indicator
3) Proof? Cmdty stocks vs underlying have unglued--AA/Alum, GDX/Gold, FCX/copper
4) This tells us how indiscriminate the derisking has become among equities
5) Retail selling accelerating, what you'd expect @ mkt bottom like last summer
6) Sentiment as bearish it's been in years as evidenced by AAII bull/bear stats
7) Aug skew at steepest lvls in yrs, implieds at highs = protection scramble
8) Fundamentls strong-equity risk prem on fwd 4Q ets is 6.75%,highest since 70's
9) Clearly the view is that these fwd ests are not accurate given macro slowdown
10) If you blv equity risk prem should be 5%, close to 30 yr high, that implies
11) EPS of $88/sh vs current est $108 implies fwd guide needs to decline by 18%
12) But unlike past recoveries cos haven't relevered, rehired, massively invest.
13) Therefore,  in much better place to withstand slower activity and we note
14) Unlike '08 private sector lev low, cash lvls highest ever, massive liquidity
15) Attached-Italian bond spread to Germany vs S&P.Led us down, will lead us out

Goldman's tout sheet

GS 2 (3)

Look for a reversal down on gold and silver

You can see the fingerprints of every nervous central banker on the trading of gold and silver. They want a reversal and they want one now!

$1773 should mark a reversal--especially since Wall Street now is touting it to $2500!

I'd take some off the table.

And go to your neighborhood coin shop. Big lines today.

With the so called "dumb" public doing some selling.

Well why shouldn't they? They've already made 4-5X their money on gold, so they can piece some off!

Oh My! Wall Street feeds the bears a few morsels

Oh My!!!  So soon every pundit will tell you the market is going to hell. It's already gone to hell, because no-one on Wall Street or in DC can take any pain. So they sell and pout  and cry and panic and press the sell button while stuffing the HFT algos!  Then Wall Street throws in some concerned faces on CNBC and you get a chance to make some money.

Yes--A chance to make some money!

A chance to buy this dip.

Oh but they will tell you--we are heading in Great Depression II. We just kicked the can down the road....blah blah blah...whatever.

But since when does Wall Street actually have to reflect reality? If stocks priced in reality, BAC would be at 4, Citicorp would be at 20, and Wells Fargo would be at 16. But you will never see those prices because no-one in DC or Wall Street can see these names at the prices they should be.

And all you folks hoping that we will crash so you'll be able to do some shopping--you better start getting out your shopping lists--because these prices aren't going to last. You want some bargains on stocks? You'll have them tomorrow.  But it when it breaks--and then if it doesn't bounce, buy yourself some peace of mind with some puts.

The market isn't complicated. You have a ton of folks hoping and praying and itching for a crash. heck they didn't cover at 666--so you think they'll cover here?

But you want to think we're going to revisit the lows of 2009? What are you--on crack? So think that they'll go there all you want. Go ahead--short em--and you'll just lose your ass.  Because we already had the crash of your lifetime in March of 2009. Today and tonight is just another mini-flash crash.

And it's stoked by stories of debt and default.

So let's look at S&P who downgraded the US. Will the US default? When they can print their own currency? Of course not. But someone needed to bitch slap these politicians in Washington, who think the idea of work is appointing a super committee made up of debt czars. Sure our politics are a joke--but it's still something we can live with.

And really--does anyone think that S&P downgraded the US because they are still smarting from the mortgage mess and they still want to prove they are independent? And just like the mortgage mess--when S&P rated toxic securities AAA--who were their clients?

So who do you think their clients are now? That are paying them? That want this information to trade on before they tell the world?

So what do you think those leeches will do? They'll be covering their shorts into tonight's downdraft, because it isn't going to get much worse.

Every panicky hedge fund, that thinks the world is going to end, will soon flip flop as their bearish positions start turning against them. The bears staying power is even worse than the bulls!

The bears got their morsel, fed to them on a stick, by the kids at S&P.

And this sell-off is just another fleecing done by Wall Street.

Just another bear trap!

Monday, August 8, 2011

S&P 1119.46 Down 6.66%!!!

Another Booyah for the 666 bears!!
Hexakosioihexekontahexaphobia hits Wall Street again!!