Wow, I had no idea how much work digging a garden was going to be! I spent about 4 hours yesterday preparing the soil. I used some of the web links supplied by reader Kevin for direction. To make the soil ideal, it really is labor intensive. All is done now, and I have planted the potatoes, some turnips, cucumbers, and my wife wanted sunflowers. We shall see if anything works!
Glacial Pace of Finance Can be Frustrating
Bank of America will report their "earnings" (losses actually) tomorrow. Will BAC meet estimates? Beat estimates? Miss estimates? Who knows and it really makes zero difference. The issue at hand is the glacial pace of information in the world of finance. Bubble head types would have you believe the worst is over, banks are done with losses, and home prices are on the rebound. It makes a nice story. Those with half a brain know this is absurd, but until ANOTHER quarters worth of degraded data comes out, denial will reign.
It is frustrating to have to wait the situation out. There are too many with a serious interest in delaying what is needed to allow the process of unwinding bad debt and home prices to happen in short time. All will have to be dragged kicking and screaming the entire way down. This process will take time.
After a week like last week, it is hard to find ideas to try and make some trades. I would like to put some money to work, but with the economic disconnect running so hot any play could be compromised. With an overactive FED and a Bank of England looking to follow suit any position may be rendered a loser overnight. Risk is high.
Things to watch this week:
- BAC earnings
- Oil, will it ever stop going up?
- Gold, is this the end of the bull market?
- Home sales numbers
- The garden
- The John Adams Series finale
I expect some market fireworks tomorrow, I have one of those feelings. Until tomorrow then!Have a good night.