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Doin' It Bloggystyle: Greenspan, Apple, Volatility...


Minyanville brings together the best of what they are saying "out there" about the topics we're talking about right here.

Blogs themselves need no introduction, as they get as much publicity as pretty much anything these days, save maybe the latest Britney news. There's an expanding world of excellent financial blogs, covering just about everything, from global economics to swing trading. Minyanville's goal is to bring together the best of what they are saying "out there" about the topics we're talking about right here.

Some early week thoughts as I wonder how in the world the Giants so-called defense can hold 1st and goal inside the 2.

Monday at Bernie's
  • Incredible volatility in... volatility recently. Bernie Schaeffer runs some numbers and divines some meaning in it.
  • "...the VIX ended Friday beneath its 20-week moving average – for the first time since April 20. Intrigued by this behavior, our Quantitative Analysis group looked back 10 years to see the short-term implications of a drop by the VIX below the 20-week after a period of 10 weeks or more north of this trendline. Since 1998, this particular phenomenon has occurred only 7 times, and each time, it has enjoyed bullish implications."
  • Not all rosy, though, as the master notes several nearby areas of overhead resistance in the S&P and DJIA.

Deeper Thoughts
It's All in a Name

Gang Greenspan

  • Mish runs down some great quotes from Sir Alan on the only cable news show I trust, The Daily Show.
  • My 1st Million at 33 with a handy review of some classic Greenspan calls that somehow went down the Memory Hole on last week's Book-a-palooza.
  • I've heard some defenses of his classic call to ARMS, basically that if you factor in how long you had those low rates before they reset, you are still ahead.
  • To which I would have to agree, but with a very big but that they ignore.
  • That only is a sensible argument if you could afford the house based on the real sale price, and not just the low rates that were certain to be temporary.
  • And The Maestro still has that magic touch. Remember his worries that China was a bubble back in late May? The FXI is up about 60% since then.

Beware of The Evil Bloggers

  • Here we go again, another mainstream site, Investment News, warning of the dangers of blogs. Hat tip, Kirk.
  • "Here's the problem: Blog content is not always legitimate journalism. It's not always true. And it may be injurious to your mental, physical and financial health."
  • As opposed to, say, a pundit with a TV show and 4,000 other media outlets from which he spews all sorts of contradictory advice, not to mention misleading and misstated results.
  • My point on this would be, if you blindly follow an idea you read or hear or absorb anywhere without due diligence of some sort, you are the problem.
  • So what's really got this writer's goat? "My concern stems from a recent run-in I had with one of these "Twilight Zone" financial bloggers, who had criticized something published on the pages of this newspaper. I e-mailed back trying to find out a a few basic questions: Who was this? What company, if any, did the person work for? Where were they based? But the anonymous blogger would have none of this, refusing to respond directly and instead launching another diatribe - about me personally - on the blog. Naturally, this infuriated me because it's obvious that this type of blogger has no accountability."
  • OK, I agree that there's no place for personal attacks, and I'm not big on the rudeness either, unless maybe it's tongue-in-cheek for humorous effect like on Fly On Wall Street.
  • But really, isn't this author kind of selling the financial blogscape a tad short by generalizing one anonymous nitwit as being representative of anything? Much more value-added having the TV drone on with Certified Experts telling me I should own "good" companies with stocks that are going to go higher.
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Position in AAPL and PTR.
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