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Snippety stuff (no-one is innocent edition)

  • There's no point in pretending that anything LatAm matters in today's market, so let's point out facts about the US market right now:
NYSE advancers 817 (24%)
NYSE decliners 2,580 (75%)
Up volumes 34%
Down volumes 66%
New 52 wk highs: 21
New 52 wk lows: 1,046

And with all that said, the S&P500 index is down just 0.35% at time of writing. WHO ARE THESE PEOPLE TRYING TO FOOL?
  • Meanwhile, Greg Mankiw gets his dose of self-revisionism and "ho ho ho, it's nothing to do with me" returned to him with interest and a healthy dose of "asshole!" attached by Jon Schwarz at 'A Tiny Revolution'. The dismal scientists' worst attribute is that of "I'm never wrong", and Mankiw should learn to keep his head down and not crack jokes at a time like this.
  • The dollar is rising this morning (USD 79.01 at time of writing) as people find safe haven in treasuries. That dollar move will not last. If you can't think of anything else to do, at least buy some Euros.
  • Copper crawled back over the $3.10 barrier after I bailed FCX (I think the and have gone now, too). Did I bail too soon? Maybe yes, maybe no. But I'll sleep well tonight.
  • Goldbugs/Silverbugs going rabid about the non-rebound of precious metals. These people need to relax more...get laid or something (if only for the first time).