Archive for the ‘business’ Category
Hows the market for ya
If anyone benefits from my sagely advice, they didn’t stop by and let me know.
But BACME at $1.50 topped out around $7.50, nice little hit there.
And .CMC bought at $0.93 popped at $3.75 – score.
My eye right now is on Arch Coal – ACI – I’m thinking around $60.00 by Feb-Apr next year. I’d initially thought $75 by April but I don’t think the market has the legs just yet. The Apr 75.00 Call Option is nicely priced right now, and I may double down with a hold on Stocks, and pick up some cheap options for when the commodity rally hits.
I think GE is a buy too – but definitely a long hold.
Buffet’s got the right idea, now is the time to be buying. – Happy trading folks.
Financial Stocks – got ulcer?
First off, let me open by saying “I told you so“.
Financial whizz, Kenneth Rogoff, stated in an interview today that he anticipates “The worst is yet to come in the U.S.,” (source) He expects a major bank to go bust in the next few months.
As we’ve seen (July 15th, anyone?) any time even a small bank goes pop, financials get hammered.
“The degree and depth of what’s happening in the financial industry is beyond anything we’ve seen in decades and it takes time to get your arms around the severity of what’s happening and what the long-term and short-term ramifications are,” – said John Merrill, chief investment officer at Tanglewood Wealth Management. (source)
Never mind Freddie and Fannie getting hit hard by the potential government bailout… there’s more to come… (read on)
The War on Drugs. Not so much as a “Mission Accomplished”
I came across two excellent opinion pieces.
One from the LA Times
“The United States’ so-called war on drugs brings to mind the old saying that if you find yourself trapped in a deep hole, stop digging. Yet, last week, the Senate approved an aid package to combat drug trafficking in Mexico and Central America, with a record $400 million going to Mexico and $65 million to Central America.
The United States has been spending $69 billion a year worldwide for the last 40 years, for a total of $2.5 trillion, on drug prohibition — with little to show for it. Is anyone actually benefiting from this war? Six groups come to mind.”
And One from Matt Hutchens from the MPP
“For almost forty years, America has been engaged in a war which has cost us trillions of dollars and ruined the lives of millions of our citizens. We have been fighting against drugs in a street war across the country. The definition enemy combatant has changed through the course of this conflict, first encompassing only the smugglers and distributors, then growing to include users, and now reaching beyond our borders to the farmers in the developing world who produce the source crops. Today we are told that all these parties are contributing to the forces of Terror, and that the whole chain of enemy forces is complicit in a conspiracy against us. If this were true, though, wouldn’t we disarm our enemies by taking control of the economic forces that are the source of their power?”
Prohibition fails. Prohibition puts money in the hands of those who have no disregard for law, order, decency or justice. That money isn’t taxed, or accounted for. It’s laundered and used to buy guns. It’s used to corrupt law enforcement officers. It’s used …more
GE’s Immelt – Hold on Loosely
Reuters are reporting the New York Post has sources that state Jeffrey Immelt, CEO and Chairman of the Board of Multinational super conglomerate conglamarate conglamorous Corporation General Electric (NYSE:GE) has 6 months to shape up or ship out.
Jeff’s come under a lot of heat for two major reasons. One: GE’s stock has been flat since Immelt took over from infamous CEO Jack “Neutron Jack” Welch and Two: Slipping up on an earnings estimate that was “in the bag”.
How does Jeff attempt to redeem himself? …more
