Toyota: Next to Fall?
Fate of Big Three doesn't bode well for automaker.
Greetings from Upstate, where I had a fantastic time last night though, as always, I left wishing I had more time to mix with the literally scores of loved ones packed in the event. What a fantastic group of people. I'm proud to be associated with Minyanville and was touched by so many of the thoughts shared with me last night.
Here's what I'm thinking as I slide back into character (based on what I was told last night, that character is "angry" - though I like to think of it as "angry with an enigmatic back story, hinting at a heart of gold but fists of iron... A renegade playing within the system."
I'll keep working on it.
- Lotta Bears out Thar. For what it's worth, I've never felt more agnostic about the tape. To quote my boxing coach, never be confused in front of a guy who can hit you in the face. Trying to slug with this market by going "all in" is going to get you Bobick'ed.
- Yeah, I know I've used the Bobick link before. A) I find it hypnotic B) I was looking for an excuse to link this response to my idea of invading Canada as a way to stimulate the economy. I stumbled on it while looking for South Park's "Blame Canada" after a prior Canadian Invasion Stimulus program screed.
I won't dodge it by saying I was kidding. Indeed, a loony in a hockey shirt waving a stick at my televised face raises the appeal of my plan. Opening a military can of whoop-ass on Canada would cost less than trying to bail out the automakers and banks. And, unlike those efforts, it would work; we could take Canada in a week. It would create jobs and finish the work started by Benedict Arnold 230 years ago.
Their quasi-French, Queen tithing arses are practically begging for us to make them the 51st state. It should have happened years ago. "Make Tanks, Not Cars: Take Canada."
- Back to stocks, if I'm not swinging hard, then what am I jabbing at? I reshorted some Toyota (TM) this morning. The more I hear from the Big 2.5, the more convinced I am the whole industry is in big trouble. What's more, Japan isn't about to start raining money on Toyota - and the Land of the Rising Sun remains largely demilitarized, removing the invasion stimulus threat.
- And, yes, I'll take the Toyota short off as soon as I get a large profit or the one I have is threatened with a reversal. Stick and move, champ. Stick and move.
- The Retail Holders Trust (RTH) is giving back all of yesterday's gains and then some today. Two reasons: First, of all the unemployment sub-figures, the drop in seasonal hires is more support for a miserable Christmas. Second, yesterday's rally was more of the "shortin' ain't easy" variety than the "Bad news is in the stocks" type.
With that, I'm off for the weekend. Make yours a great one, folks. Let's rest up if not to trade then to store up some energy for the Spring Montreal Campaign!
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