![\"\"](\"https:\/\/www.technologyinvestor.com\/wp-content\/uploads\/2011\/10\/SPTenDays.jpg\" "\\"S&PTenDays\\"")
<\/a><\/p>\nMy SPY short is now well under water.<\/p>\n
My successful day trader friend:<\/p>\n
Harry<\/strong>: You making any money day-trading these days?<\/em><\/p>\n Friend:<\/strong> <\/em>Win and lose. It is very tough. C\u2019est 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\u2019s 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!<\/p>\n 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\u00a0 again?<\/p>\n Who knows?<\/p>\n New York is booming.<\/strong><\/span> Residential rents are skyrocketting. Contruction is exploding. Two photos I took on a bike ride downtown (to my dentitst, again) on Monday:<\/p>\n This building will be 44 stories.<\/p>\n 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.<\/p>\n From Richard Russell’s latest newsletter:<\/strong><\/span><\/p>\n 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.<\/p>\n 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.<\/p>\n Localities have sliced 535,000<\/strong> 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 <\/strong>local government jobs cut from 1980 to 1983.<\/p>\n Headline\u00a0 1. <\/strong><\/span>From today’s New York Times:<\/p>\n In Rift Between Murdochs, Heir Becomes Less Apparent<\/em><\/p>\n Headline 2. F<\/strong><\/span>rom today’s Forbes.com:<\/p>\n In Mortgage Problems, BofA Faces Paralyzing Uncertainty<\/em><\/p>\n The headline writers are having a ball. This exercise video is seriously neat.<\/strong><\/span><\/p>\n<\/a><\/p>\n<\/a><\/p>\n<\/a><\/p>\n<\/a><\/p>\n
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