Harry Newton's In Search of The Perfect Investment
Technology Investor. Harry Newton
AM EDT, Thursday, September 3, 2009: We have an expression in Australia,
where I was born, that the stockmarket goes up and down faster than a whore's
drawers. I was pleased to read Bloomberg this morning:
Sept. 3 (Bloomberg)
-- Stocks in China rose the most in six months, driving the yen and Treasuries
lower, on speculation the government will adopt measures to boost equities
after the Shanghai Composite Index fell into a bear market. (That meant it
had recently fallen 20%).
Which brings me
to STEC, my recent favorite. It bounced back a couple of bucks yesterday. I
don't know why.
gold, silver, platinum, copper have risen strongly this year. It's hard to understand
why since the world economy has been so weak. One story is that China has been
stockpiling. I did not see the commodities boom of 2009.
Everyone who writes
a daily column on the market is always looking for something clever to impress
their readers or clients (some of whom also read).
Ira Schnell, at
Kaufman Bros. wrote the following in today's Morning Note:
some cracks in the foundation over the last few days, I got the sense yesterday
that people were content to look for further evidence of a breakdown before
they need to start kicking out their longs and/or laying the shorts out again
like everyone was waiting around looking for someone else to make the first
Certainly cant blame institutional or retail investors for acting
this way, because over the last few months, if you sold after initial cracks
in the foundation formed, you got very burned.
Combine that with the fact Labor Day is fast approaching, and maybe we get
a pause here before the next move (unless Fridays non farm payroll #
is way off consensus, in either direction)
And after virtually 6 months
of equities going straight up, I dont think you can discount the fact
that even if they are going to unwind this thing, you might get one last sucker
rally right back through 1010 to 1020, before they finally hit this thing
through 970 to 980
.I talked yesterday about the key role plain vanilla
long only funds will ultimately play in dictating price action if selling
momentum increases as we roll into 4Q09 (will they buy on the way down or
Wanted to throw out one more piece of the puzzle
sellers have been taken out on stretchers for months now
.I know most
have been burned to the point that they would rather short only on weakness
than try to top tick this market and run the risk of getting steamrolled (again).
So my point here is if the snowball starts to roll down the hill with regard
to sell momentum, and the shorts get in motion, what are there expectations
for that trade?.....It seems to me that when you get smoked repeatedly with
the same strategy, and that strategy finally starts to work, it is human nature
to close out the trade too early and lock in your profit, because you just
want to right (I am certainly guilty of that on a personal level)
And not sure that is all that atypical
So what am I saying here?...I
think if this market does come off, short covering should come into play maybe
a bit earlier than it would normally, thus stemming the down move (at least
.Combine that with a 6 month uptrend which has been firmly
entrenched, and I think you could certainly make the case the above scenario
might take place
appears that most of the heavy bleeding in the unemployment picture in the
US is behind us, the #s just dont paint any kind of picture the
biggest problem plaguing this economy has abated
The ADP # yesterday
still demonstrates that people are losing their jobs at a pretty healthy clip
the other huge missing piece of the puzzle (the actual hiring of people) still
seems like it is very far away
.In fact, I saw something the other day
that illustrates this point pretty well
The Robert Half Financial Hiring
Index says that 84% of CFOs surveyed have no plans on hiring for the rest
.4% expect to add staff, and 10% see more cutbacks (actually
up from 8% from the last survey)
.Look out for initial claims out @ 8:30
(consensus is 565k, and consensus for continuous claims is 6.125mil), followed
by the ISM non manufacturing out @ 10:00 (consensus is 48)
Federer does it. There are many people who believe he's the greatest
tennis player ever. To me, he's a ballet dancer. His footwork is the best I've
even seen on any tennis player. For an absolutely engrossing analysis of how
he does it, click
U.S. Open Tennis Schedule: TV coverage of the
US Open is around the clock -- presently on ESPN2, ESPN2HD and the Tennis Channel,
and then later on CBS. The full schedule is on
USOpen.org. Here's today:
Watch it on HD.
It's better than being there. And much more fun than watching stock prices.
I've been "discovered." I'm now on a list for deliriously
wonderful press releases. I don't make this stuff up. My latest :
Reveals Gods Stimulus Package
Tulsa, OK -
July 2, 2009) Long before Washington D.C. announced a stimulus package, God
provided for his followers. Gods economic stimulus plan is revealed
in Daniel Kings new book, The Secret of Obed-Edom.
beginning of his life, Obed-Edom was disadvantaged. He was extremely poor,
disenfranchised and known as a slave, but then he got hooked up to Gods
economic stimulus package and by the end of his life, he had wealth beyond
his wildest dreams, says Daniel King, the author of The Secret of Obed-Edom.
is the greatest undiscovered story in the Bible. Hardly anyone has ever heard
of this obscure Bible character but his life story is so amazing that I think
that everyone in America should read this book, says Daniel King, Especially
with the current economic crisis the secrets of Biblical success are now needed
more then ever before.
of Obed-Edom is really the secret to my own success, explains Daniel,
When I was young, my parents were extremely poor. We did not have a
house so we actually lived in a school bus in a parking lot for six months.
But, by the time I wrote this book, my office was near the top of a sixty-story
skyscraper and from my office window I could see the parking lot my family
used to live in. God brought me a long way and in my new book I reveal how
God can do the same miracles for you.
The Secret of
Obed-Edom will teach you how to activate Gods plan for wealth creation
in your life. Hidden in this book are the secrets of Godly promotion and how
to achieve unprecedented wealth in your life. Order your copy today by calling:
is a missionary evangelist who has visited over fifty nations preaching the
Gospel. His goal is to lead 1,000,000 people to Jesus every year! Learn more
about his ministry by visiting: www.kingministries.com
Religion is the
best business in the world. Ultra-low variable costs. Huge margins. Guaranteed
income stream if you don't mess up, like have an affair and get caught. There's
even a web site that helps you raise money for your religion or for your "Cause
of the day." It's called Click&Pledge. Its slogan is "a
better way to do good." Click here.
I really don't make this stuff up.
Democrats, realizing the big success of the President's "Cash
For Clunkers" rebate program, have revamped a major portion of the Obama
Health Care Plan.
Speaker Pelosi, and Sen. Reid are expected to make this major announcement at
a joint news conference early next week. I have obtained an advanced copy of
the proposal which is named....
CODGERS" and it works like this... Couples wishing to access health care
funds to pay for the delivery of a child will be required to turn in one old
person on the day of the delivery. The amount the government grants them will
be set according to a sliding scale. Older and more prescription-dependent codgers
will pay the highest amounts.
will be paid for those submitting codgers in targeted groups, such as smokers,
alcohol drinkers, persons 10 pounds over their government-prescribed weight
-- and any member of the Republican Party.
will be given for codgers who consume beef, soda, fried foods, potato chips,
lattes, whole milk, butter, cheese, bacon, Brussel sprouts or Girl Scout Cookies.
All codgers will
be rendered useless via a toxic injection -- similar to that given the engines
of the 'clunker' trade-ins. This will insure that they, like the vehicle 'clunkers',
are not secretly resold or their body parts harvested to keep other codgers
in repair and living amongst us.
Since I fit several
of the categories, I should be gone soon. I'll miss you.
This column is about my personal search for the perfect
investment. I don't give investment advice. For that you have to be registered
with regulatory authorities, which I am not. I am a reporter and an investor.
I make my daily column -- Monday through Friday -- freely available for three
reasons: Writing is good for sorting things out in my brain. Second, the column
is research for a book I'm writing called "In Search of the Perfect
Investment." Third, I encourage my readers to send me their ideas,
concerns and experiences. That way we can all learn together. My email address
is . You can't
click on my email address. You have to re-type it . This protects me from software
scanning the Internet for email addresses to spam. I have no role in choosing
the Google ads on this site. Thus I cannot endorse, though some look interesting.
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