Say something really negative, something really stupid or ‘saw sawdust.’ Today’s headline opinion column in MarketWatch (“The Fed has boxed U.S. into a tough easy-money corner”) hit the trifecta. As it pertains to saying something really negative, the article really hits the bull’s-eye, suggesting that when (and if) the Fed moves to reverse Quantitative Easing…
Tag: U.S. Treasury
Session 131–Adieu Q.E.–Rest in Peace
That is my fervent prayer. But it seems like the media has other plans. Today’s special coverage on CNBC and MarketWatch gives me the feeling, in fact, the much-maligned Quantitative Easing isn’t going to get a rest, even though its long past its prime as a topic. I’m not certain why this is. Maybe it’s…
Session 129–The House of Pain
That’s what I call the small and mid-cap segment of my portfolio. BTW, “House of Pain” is a term most Cramer fans are familiar with. He did not invent it, but I think it is appropriate. I mean it has really gotten ugly out there, not to mention the return of volatility that some were bemoaning…
Session 126–“Say the secret word(s) and win $100!”
This is how the great twentieth century comedian and serial wisecracker, Groucho Marx, would begin every guest interview on his 1950s television quiz show, “You Bet Your Life!” If someone did make that magical utterance, sirens would sound and a stuffed duck with mustache and Groucho glasses would drop from the ceiling with a one-hundred…
Session 110–“If anything can go wrong, it will.”
‘Hoist by one’s own petard’ (blown up by one’s own bomb) is Murphy’s Law at work and the pundit’s worst enemy. Because, as soon as you put a prophecy out there, strange mechanisms go into play that make it very difficult for you to look anything but stupid. Yet there is a flock of people…
Session 109–Fear and Loathing on Wall Street
It never ceases to amaze me how rapidly market sentiment can shift. Last week was a perfect example; from ‘Fear and Loathing’ at the beginning of the week to a “Calm sea and Prosperous Voyage” at weekend (May 23, 2014). Of course, when this happens it is usually the media driving the train, picking news…
Session 108–“I Have a sick feeling…”
This is how technician, Ralph Acampora, frames the type of performance that might be ahead for the Russell 2000 and Nasdaq composite indices over the next few months. (Acampora interview–5/15/14) There is a part of me that finds his thinking very plausible, as the stock and bond markets have been acting very strangely of late….
Session 107–Geithner’s Book
Although I have yet to read former Treasury Secretary, Timothy Geithner’s book, “Stress Test: Reflections on a financial crises,” by virtue of the significant publicity generated and in-depth interviews conducted with Mr. Geithner (Charlie Rose), I do feel competent to comment on issues raised about the book and a persistent critique to the effect that…
Session 106–What’s up with the ten-year U.S Treasury Note?
Well, for one thing, the price is up. Conversely, the yield is down. As of 9:30 PM CDT, 5/8/14 the yield stood at 2.61%, down from 3% at the end of 2013. This, according to the media wonks and pundits, was not supposed to happen. Rates were supposed to go up as people fled the…
Session 91–“Born Under A Bad Sign”
“Born under a bad sign. I’ve been down since I began to crawl. If it wasn’t for bad luck, I wouldn’t have no luck at all.” This is one of my favorite tunes from one of the finest rock bands to come out of the 1960’s, “Cream”, music and lyrics by William Bell and Booker…