On that note, a bit short on time tonight, so just a couple of thoughts.
-Intel (INTC) blew away earnings estimates, which was expected, but the company went above the "whisper number" as well. What should be clear to any observer is how silly the earnings estimate game is. Why is it that every quarter the analysts polled are off on the numbers by wide margins, both the upside and downside? Anyway, expect a rocket ship ride up tomorrow in the indices.
-Related to the INTC news, where did all these sales come from? Where are these chips going? Of course revenue is still down year over year, but I would be interested to know where this "unexpected" rebound came from.
-I am not familiar with the author of this post, so I offer his article with all the usual caveats. That said, if this story has any merit ......
Central Banking: A Blight On Humanity
Details a possible issue with gold bullion for physical delivery contracts being renegotiated for cash settlement instead, and at huge premiums to spot gold price.
For a chuckle, enjoy this Fail Blog post:
see more Epic Fails
Have a good night.
