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Joy and Pain. Sunshine or Rain?


A binary event looms.


"Little darling, it's been a long cold lonely winter." --The Beatles

Remember when we talked about one of two potential game changing catalysts on Monday?

That's the bid we saw yesterday-the anticipation of a shift in mark-to-market accounting regulations when the House Financial Services subcommittee meets on March 12th.

That information hit the wires in the afternoon. Evidently, someone had it early. I don't know if we'll get fresh news on that date but the mere mention was enough to embolden bulls and scare bears.

Some have said that current accounting rules are "idiotic." I would offer the bed was made long ago and changing the sheets shifts the style but doesn't alter the substance.

That doesn't mean it can't happen-in fact, given the holes springing in the financial dike, it may be the last bullet left in the gun.

Well, the second to last bullet, as we all know where the last one is pointed.

Stabilize the patient before attempting resuscitation. That is undoubtedly the mindset of those pulling the strings on the Beltway. You don't have to agree with it, you simply have to respect the potential.

For it is indeed binary, in a very big way.

Random Thoughts:

  • My Lord, could I mix any more metaphors?

  • Of Smoke and Fire? General Electric (GE) CFO Keith Sherin is playing defense this morning, offering that GE Capital will be profitable in the first quarter and Eastern Europe assets are "fantastic."

  • What ever happened to Rob Base & D.J E-Z Rock?

  • Opportunity cost is the other side of discipline and the latter matter has saved me too many times to abandon that philosophy.

  • So, you're a philosopher?

  • If you've signed up for the Minyanville Underground Railroad and still haven't gotten the initial correspondence, please lettuce know so we can flog Intern Jarred accordingly.

  • I've made a conscious effort to avoid ultra-ETF's. With that said, the FAS (ultra-bank crack) may be a lottery ticket into the House Financial Services subcommittee meeting (as a speculative bet or an upside hedge).

  • Caveat emptor, as addiction seldom leads to long-term wellness.

Answers I Really Wanna Know...

  • How can they cure meat but not cure the economy?

  • How did I forget to sing Dead or Alive at Minyan Karaoke?

  • Remember when the world's most important trading tell was Citigroup (C)?

  • Which then switched to the Google (GOOG)-Goldman (GS) duopoly?

  • And it's now General Electric?

  • When was the last time we heard such a vigorous defense by a company?

  • Are you remembering that good traders know how to make money but great traders know how to take a loss?

  • And that the definition of an investment should never be a trade gone awry?

  • Scary thought-what if Berkshire Hathaway (BRK-A) is the shoe?

  • Have you taken a gander at its credit default swaps lately?

  • Our job is to provoke-not shape-thought, remember?

  • Will you please remember that Minyanville, as a small business, will benefit from an economic expansion?

  • Would you take a bath in that faux movie theater popcorn butter for $500?

  • Have a great day, Minyans, and remember to breathe!


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