How do you make money in this?
Apple’s net is up 54%. Its shares fall big becaused it failed Wall Street’s fantasy. iPhone sales came in at “only” 17 million, rather than 20 million. Go figure.
Greece is about to default (again). Yet our market has risen strongly in the past ten days:
My SPY short is now well under water.
My successful day trader friend:
Harry: You making any money day-trading these days?
Friend: Win and lose. It is very tough. C’est la vie. The main problem is that there is very little logic. Today for example, it should be going down. Europe still stinks with new warning from Moody’s on France. And China is showing even more signs of slowing down. Now 10.3% growth going towards 8% and if it was going towards 6% it would be recession there!
The key in this market is patience. the good news is that many of our large companies are recognizing the benefits of dividends. Intel is now yielding 3.59%. It’s just reported satisfactory earnings. But look at its chart. Should I wait until it hits $19.50 again?
Who knows?
New York is booming. Residential rents are skyrocketting. Contruction is exploding. Two photos I took on a bike ride downtown (to my dentitst, again) on Monday:
This building will be 44 stories.
I don’t know how tall this one will be but the picture suggests it will be tall. These climbing cranes are worth about $2 million a piece.
From Richard Russell’s latest newsletter:
Local governments, which were once a steady source of employment in tough economic times, are shedding jobs in unprecedented numbers, and heavy payroll losses are expected to persist into next year.
It’s a shame. My oldest daughter, Daria, is a high school teacher in San Diego county. She tells me that it’s almost impossible for a trained and experienced teacher to get a job in San Diego. Teachers are America’s future. When teachers are unemployed with no chance of getting a job, our future is in trouble.
Localities have sliced 535,000 positions since September 2008 in an effort to close massive budget deficits resulting largely from sharp decline in property tax receipts. That exceeds the 413,000 local government jobs cut from 1980 to 1983.
Headline 1. From today’s New York Times:
In Rift Between Murdochs, Heir Becomes Less Apparent
Headline 2. From today’s Forbes.com:
In Mortgage Problems, BofA Faces Paralyzing Uncertainty
The headline writers are having a ball.
This exercise video is seriously neat.
Click here.
Cute Jewishisms.
Q: Why did Adam and Eve have a perfect marriage?
A: He didn’t have to hear about all the men she could have married, and she didn’t have to hear about the way his mother cooked
Q: Define “genius”
A: An average student with a Jewish mother
Two Jewish life mysteries. –
+ How can a 2 Ib. box of chocolates can make a Jewish woman gain 5 lbs .
+ How come when a Jewish woman hangs something in her wardrobe for a while and it shrinks two sizes!
And finally,
The trouble with some Jewish women is that they get all excited about nothing.
Then they marry him.
Two favorite New Yorker cartoons:
Harry Newton who is finding it very hard to keep the six pounds noff that he lost in Vietnam. I notice everything here swims in fat and obesity is common, and accepted.
Item: CNBC had Bill Richardson, former governor of New Mexicon, on this morning. The man is morbidly obese. How can intelligent men like him and Chris Christie allow themselves to get so fat? When was the last time you saw a fat, old man? You didn’t. They don’t exist.
For anyone interested take a look at zerohedge.com because you'll see a link to comments made by Steve Wynn during his last conference call. As you can probable guess he bitch slaps the Moron Obama and the democrat party again……good stuff.