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
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