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Wednesday, August 12, 2009

Afternoon High Jinks Summary

Ten Year Auction not as good as they had hoped but market rigged so high barely felt it

Toll Brothers:
Signed Contracts up (oh really, WHO CARES) we want to see closed deals
Revenue off 50% YOY
but market rallying to the sky

EIA said oil inventories up yet again: but oil RISING above $70 again. WHY? Because the ijiot traders sold futures above the price. Gotcha (check out the cargo ships being held offshore on previous post below- nice photo)

Helicopter Ben and his paratroopers will be ingratiating themselves on the rest of us weary of their bullshise with their fed meeting results at 2:15.
Expect no increase on interest rates (Mr. Market loves that) but expect things are not as rosy as they would like but at least inflation still in check.

RETAIL: Macy's has better than expected profits but sales off and rough road ahead
TECH: Microsoft teaming with Nokia to include apps on phones

BDI (Baltic Dry Index) has another day in another week of falling off the cliff declines

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