Friday, February 27, 2015
Hey, so bitcoin is US$250 now, eh?
Is that good?
at 9:35 AM
So there's this new idea called the "open textbook". It's freely-distributed, professionally written and often peer-reviewed, unlike the hideously expensive bullshit you have to pay for at university.
Frankly I love this idea as much as I love the emerging concept of the "open university". It's about time education became free.
Anyway, if you'd like to learn about economics, here's a bunch of free textbooks - mostly in pdf, but one in epub:
UMinn - open textbook library.
OK, this was funny:
IKN - A Babylonian would like to register a complaint. What's funny is that, even 3765 years ago, there were still people anal-retentive enough to sit down in front of a wet clay tablet, peck out four paragraphs of cuneiform, dry the damn thing in the sun and then deliver it, just so he could bitch about a crappy copper delivery.
You know the type. If there was a newspaper in existence back then he'd be writing them tablet after tablet complaining about the kids of today and their funny haircuts and if the Jews don't like our gods they can go back where they came from and what's with the schools teaching this "new masonry" and pi=3 was good enough for us when I was young and nobody needs to count past 59 unless they're up to some sort of mischief and when is the King going to do something about all these evil spirits and so on and so on.
Anyway, thanks to the Penn Museum cuneiform generator, we have an idea of what the response tablet might have looked like:
BI - Japanese stocks surge to 15-year peak. What's important about this is that our analyst fellow (from a company whose name rhymes with Blarketfield Blasset Blanagement) just pointed out yesterday that foreign flows into Japanese equities have been almost nonexistent for a while now, despite the strength in the chart, and how happy he was to be in before the rush of white-ass honky crackers into the Nikkei. Well, now your secret is out, Mikey! Let's watch Japan surge now.
Thursday, February 26, 2015
NSC always gets killed when Whitey decides to puke stocks.
And it's rolling over now.
In fact, all of the transports is rolling over:
So I guess that's it for this advance? But QQQ is still looking okay, though it's getting repeatedly sold down.
HYG still looks fine, even though oil's taking another 5% puke today.
I guess we'll have to wait and see if Business Insider, Reuters and CNBC can dream up some new fucking retarded yet wholly believable reasons for everyone to puke stocks again.
SPY and QQQ are still really looking like they're rolling over. RSIs hit 60-70 and $VIX is too low to get a meaningful advance, I think.
Meanwhile gold and silver have become exciting with China back in the market, though I want to see how they react to today's 10AM smackdown and the many more that obviously will come, this being PDAC weekend and all.
Oh, speaking of which, y'all make sure you give a big hello to Clive Johnson at PDAC for me, okay?
Anyway, here's some news:
Bonddad - wage stagnation is primarily occurring in manufacturing. But the right wingers who'll bitch about this are the people who caused it, with a 35-year war against the working class.
Humble Student of the Markets - buy Europe? He says no, and I agree, though I would say so because Europe has an iron-fisted penny-pinching contractionary austerian leadership that will ensure it remains in depression for decades. Good luck waiting for all that earnings growth! I would also suggest he don't go ex-Japan: Japan is breaking out. But it would certainly be interesting if China popped.
Mining.com - David Harquail says junior mining really, really sucks. I'd suggest he get off the "marginal trader"'s back:
Harquail lays much of the blame at the feet of mining executives and directors who catered too much to investors. Good miners know that commodity cycles come and go, so they time a mine’s development to catch at least a couple of higher price cycles during its expected lifespan.What, so Harquail thinks we're supposed to be patient and let companies grow, and not trade in and out? Please explain how the fuck that is supposed to make us money, using the example of B2Gold where every single person who bought the stock since August 2010 is now underwater.
But investors no longer have that kind of patience. Harquail said they’re interested only in the latest upswing, not the next one, and too many mining companies have high-graded their operations and focused on big-budget, high-volume, low-grade deposits.
“There’s been too much catering now to the marginal investor, which right now tends to be the traders and hedge funds that only invest for the nanosecond,” Harquail said.
Fuck you, Harquail: I'm not going to be patient with any of these fucks. I'm not even going to "be patient" with FNV: I can buy SPY and do just as well over the past two years without any exposure to PM volatility.
Wednesday, February 25, 2015
So for the heck of it all I bought some Blackberry a couple weeks ago. Apparently they're not going to go bankrupt now, but everyone still laughs at them anyway.
Chart looked neat back around early Feb is why:
I figured I could hold for a bit and sell on the next buyout rumour. Meh, rest of the market looked weak, I hadn't yet bought my CJP.to and ZEB.to*, and the US was still rangebound back then, so this was spice for a porridge portfolio.
Anyway, today this comes out:
Berryflow - Blackberry to partner with Google blah blah and me not understand tech things, but me think article say they leveraging existing security technology and partnering with Google.
And those two things are pretty positive for a $5.5B cap company that was circling the drain just last year, no?
But yeah, fine, you can go ahead and short Canadian banks too, I mean, that's lost money so far but maybe it turns around, right? Cuz I mean... reasons, eh?
* - HA HA! THAT'S RIGHT VERDMONT! I WENT LONG CANADIAN BANKS BEFORE BMO'S EARNINGS! HA HA YOU SUCK! HAVE FUN CLOSING THEM SHORTS, BITCHES!
In case you've forgotten, back on January 15th we saw the following electrons winked out of existence forever:
Verdmont Capital - Royal Bank is a screaming short.
It spent a grand total of two days below the Jan 15th price. Yeah, it spent more time below on the US ticker, but only because CAD has gone down: your stated trade wasn't short-CAD, it was short-RY, so don't pull no US ticker crap with me.
And the pop today? Why did Royal Bank pop today?
Reeking Alpha - RBC beats and boosts dividend. Oh snap!
BNN - Royal Bank posts record profit and boosts dividend. OH SNAP!
Toronto Star - RBC income soars to $2.46 billion record in Q1. Aw geez, Blogger has banned flashing ASCII. I'm gonna need Gregory House's help with this:
Like I said, guys: the Canadian banks have always made money, all the time. And a drop in the price of oil ain't some scary new thing to us up here in the frigid backwater of Canada, y'know: in fact, we've lived through fishery collapses, lumber collapses, base metal and precious metal collapses too.
And yet our banks have always made money.
For your assigned homework: please ruminate on how market and stock analysis, if it leads you to take the same overcrowded position as the rest of the market, is guaranteed to be wrong and lose you a fortune.
And tomorrow you can close your shorts out with the rest of the honky white-ass cracker bitches.
Oh, and by the way:
In the time you've been short RY thinking you're all clever and shit, you could have made an easy 5.5% with SPY. Or 11% with HSU.to. The moral of this story? Maybe you should quit thinking, buy the SPY, and go away for ten years.
Like Mila Kunis.
In fact, I'll give you a motivational poster than you can print out and tack up beside your computer so that you don't do anything silly like shorting Canadian banks ever again, ok?
|click for an even larger Mila Kunis, which will be yet even more smarterer than you|
UPDATE: Geez, Verdmont guys! How many times do you have to come back to this post? Hasn't it sunk in yet? Close your Royal Bank short!
Tuesday, February 24, 2015
Hoo boy, here we go:
Reuters - Banks face scrutiny over pricing of precious metals. I'm sure we'll see reams of electrons bleeped out of existence with this one: