Just a terrible and sad day. The pictures and reports are overwhelming. I can only offer best hopes at this point. At times like this I remember that man has limited dominion over the Earth. Very limited.
I was thinking about making a few moves today while I was home but not much was looking good. Followed the Pelican crew over at iBankCoin and there are some really good intraday operators over there. It was fun to watch them work. Near days end I bought some GG (Goldcorp) and NGD (New Gold Inc) as they were near bases that I think will hold but both may be moved from the trading account to a more long term section of my portfolio.
If the earthquake news was not enough to move you over to the QE 3 camp, the words of FED member Bill Dudley should have sealed the deal. Trader Mark has this great summary up:
•Dudley faced persistent questions from the audience on food inflation. The president of the Federal Reserve Bank of New York said people forget that even as the price of food is rising, other prices are falling. He mentioned the price of the IPad 2, prompting guffaws from the audience.Freaking joker.
•"While rising commodity prices may be giving some of you a bad headache, they are not likely to lead to a sustained rise in inflation to levels inconsistent with our dual mandate," Dudley said.
Yes Mr. Dudley - I am sure rising food and energy is giving a room full of business leaders making 6 or 7 figures a few headaches. It's a bit more of an issue for the average American however.
You have to understand that the FED cannot make anything happen, only influence things via blunt instruments of monetary policy. If you had Ben Bernanke in your car and the tire blew out, Bernanke could not change the tire. He would lower interest rates in an effort to get you to chase a return and then with your profits you could hire Triple A. Like a good little servant most are doing just that.
Markets have been called 'resilient', 'bullish', and 'strong' in the face of bad news. The line gets thin indeed between those descriptions and 'oblivious', 'lacking any understanding', and 'blindly optimistic'. I am convinced at this point the following news story could actually run in the near future (note this is sarcasm, it's free BTW):
Massive Asteroid to Hit Earth, Stocks Look GoodIndeud.
Confirmed data show that a 3 mile wide asteroid will hit Earth next Wednesday. While this event will return man to the stone ages, there is some hope to be found. Analyst Marky Zandii had the following advice for those concerned about the future:
"You need to be buying Apple Inc (AAPL) like now and in size. There has never been a better opportunity. Man was in the stone age before, right? And what happened? After a while he figured out how to make the IPad, that's what. It will happen again and think of the return you are going to get if you buy now". When it was pointed out that it may take a thousand years or more to get back to a technology era for man kind, Zandii quipped "What are you, a bond guy? Shut up".
Friday Night Entertainment
An attempt at some comic relief after a day of bad stuff.
Highlander Series Paris Location Guided Tour
Special treat this week for me! Writer David Batista is a monster "Highland the Series" fan. Readers know that I am also a huge fan of the greatest show in television history. David went to Paris on a few occasions and while he was there made a stunning and jealousy inducing picture tour of all the key Paris locations for the show! Two parts:
One sample but if you know the show take the tours!:
Movie Reviews that Rock
I have no idea how I never found this site before, but a new favorite is BadMovies.org. I will warn you you can get lost reading about all the bad films and the hilarious reviews. I would say that not all the movies they say are bad are that bad, but in any case the reviews are the main attraction. Here is the summary for the film "Bloodsport":
Things I Learned From This Movie:Too much fun.
-By moaning like a zombie, one can regain their vision.
-Security on military bases are extremely sparse.
-Just about anyone can get into the Kumite, including Grace Jones lookalikes.
-There are fighting arenas in the middle of the Hong Kong slums. (Isn't there one in every slum?)
-Doing splits is a relaxing experience.
-Never hurt the feelings of a buff Chinese guy. Only bad things will occur.
-The best way to learn to learn focus is to be tied to trees and almost have your limbs ripped out of their sockets.
-Arab guys are not the ladies' men they are cracked up to be.
How Big is a Blue Whale's Heart?
Now you know. And knowing is half the battle! (G.I. Joe!)
Well you knew a Highlander clip was sure to come!
In the episode "Comes a Horseman" Duncan Macleod learns that his dear friend Methos was once part of "The Four Horseman", a group of 4 immortals that were the incarnation of the Horseman of lore:
Excellent. Want more Methos? Click here ,with Ron Perlman.
When the TV movie "Failsafe" ran in 2000 I remember thinking it was amazing. Anyone remember this one?:
Music for the weekend.
My fellow Big Steel Keg user, Smoking in Peosta, was looking for The Doors and "The End":
I have a list of songs that I really cannot play while I am driving. You know the kind of tune that gets you in a zone, you look down and see the speedometer over 110mph and that's not so good. Here is one that makes the cut, "22 Acacia Avenue" by Iron Maiden with the greatest metal front man of all time, Bruce Dickinson:
One of my favorite tunes, but only live versions of it.
Get your lighters out for Cheap Trick's "The Flame":
How about "Crimson and Clover" by the lovely bad girl Joan Jett?:
Hi Joan! Call me, it is my birthday!
Two songs to go, does anyone even play this stuff? Well no matter, I have fun.
I have to admit, I stopped watching TV except for sports (we do watch movies on DVD or on demand) about a year and a half ago. I don't miss it at all. The last time I watched American Idol (Kid Dynamites favorite show for what it's worth??) I got to see Chris Daughtry be the best the show has ever had on and still lose. Here is his version of "Hemorrhage" (skip to 1:00 mark):
Wow. What idiot ended up winning that year, I do not even remember. So stupid.
I lied, two. One great and the other my all time favorite song. It is my birthday after all.
Van Halen's masterpiece, "Atomic Punk":
Best ever from them.
The best song ever recorded? You should know by now:
I still get goosebumps.
Have a good night.