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Random Thoughts



  • Kevin Depew Reminds Us...
    Do not be fooled by the relatively placid action in the indices. Below the surface there are masses of new sell signals today... shockingly nearly as many as yesterday.
  • Vibes From Fil Zucchi - Natural gas prices are spiking down on the EIA data. While the inventory numbers actually showed a smaller increase than expected, the MMS numbers showing that shut in production is coming back at a decent clip is probably the primary cause for the pullback. That, and the fact that a lot of fast money seems to be looking for the exits.

    This is not having much impact on the equity indexes. Please note that green numbers notwithstanding, the breadth is ugly and steadily deteriorating. Didn't I see that yesterday?
  • Her Pumpkin's Going to be Fabulous

  • Succo on the Dollar

  • Greg's comment that Venezuela wants to diversify out of dollar reserves should spark some thoughts in the minds of those FANS of the Fed.

    Let's look at the situation from the other side of the coin. When the Fed raises short term rates, most think the Fed is being pro-active. But what if (as I believe) they are just reacting to the markets.

    In other words, the Fed must raise short term rates because there is pressure from foreign central banks to do so: they are beginning to demand higher returns for their risk in holding dollars.

    The Fed must supply enough dollars to create a stable Fed funds rate. Looking at it this way means that there are so many dollars out there that they must allow rates to rise in order to absorb them.

    The Fed is not in control of rates, our lenders are (most foreign banks invest in two year paper).
  • The Pope's Hot New Ride

  • Jeffmacke on Sharper Image Sales Comps:

    Est (7.5) Act. (21.0) Over/Under (13.5)

    Back to that euthanasia idea... Couldn't we have Pier 1 and Sharper Image fight to the death on a pay-per-view or something?

    Want more? Peep the rest of Macke's Retail Roundup. If not, peep the rest of Macke's Retail Roundup.

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