It's in the news, so I can't help but point something out. Earlier today I saw the following story about Apple entering the $500 billion market cap club.
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Here's one that we haven't talked about in a while. About a year ago, Meredith Whitney was positing the death of municipal governments across the country; I was just predicting a difficult issuing environment. We were early. Today, though, MUB is down 2.5%.
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Oil is touching $107 and gas prices are rising, yet I don't hear much complaining. On CNBC, Cramer even talked about the ameliorating impact of low natural gas prices, so that consumers stunned at the pump might be pleasantly surprised by their home heating bills.
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Always interesting insight from Hugh Hendry: http://online.barrons.com/article/SB50001424052748703786004577221590093305080.html?mod=BOL_hps_mag#articleTabs_article%3D1.
Big takeaways:
- Possible hyperDEfaltion before hyperINflation.
- Possibility for sub 2% yields on 10 year bonds.
- Some Japanese companies may be in danger.
- China can get much worse.
- and directly quoting
In the next 12 months, we'll see further pathological swings in investor sentiment.
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On February 21, 1972, President Nixon arrived in Beijing after more than two decades of hostility between China and the US. The world was also on the brink in those days. The US was still in Vietnam, and Russia was building up a million-man force on the Chinese border getting ready to invade.
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Long term trends are very difficult to time, but cannot be ignored as a backdrop for cyclical and secular moves.
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No, I'm not talking about Apple, very loudly creeping up, then down and representing ever more SPX points. The creeping up is oil.
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A reader pointed me to the National Geographic Channel's new show called "
Doomsday Preppers". I had never watched the show until today, but I have to admit that it was intriguing.
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From Yahoo Finance:
Zynga Inc. develops, markets, and operates online social games on the Internet, social networking sites, and mobile platforms. The company offers poker games, word games, and board games.
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Where have all the themes gone? Speaking to traders around the street, I get the sense that there's just beta and more beta. Don't get me wrong, there are big moves under the surface, but the moves are more about volatility than expressions of themes.
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February 29, 2012 10:59 am | 
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