Like clockwork we had our great and stoic hero threaten the tape with more money printing and that seems to have shored things up. All the better for me, as I moved around half of my trading account (Jaguar Alpha) into Silver the other day after I wrote that I would rather be in silver than in stock for my anticipated Bernanke bounce.
I once actually received a nasty comment from an IP address listed in the home town that Dr. B. comes from in GA… That commenter called me a racist, which is not true. Thankfully, my comment box is so jammed up with spam that I had to disable comments at hedgephone regardless for the time being.
Other issues: I had a face to face with a 6 foot brown bear and had to hike out 15 miles because my car broke down — remember when making timber investments to have a solid, running work truck and also that mother nature rules in the wilderness!!!
I am working on some formatting issues with Apple — I know in Apple’s browser that Hedgephone looks strange and I’m on it!
In any event, we asked Dr. B to print it up and he delivered on Q — I do think it’s better to stop the slides before they violate the 200 day moving averages… Even though I hate it that our economy is now solely based on the stock market, that the stock market is almost completely corrupt thanks to bad INSIDERS in CORPORATE AMERICA and not bad stock brokers or traders as much as BOOK COOKERS, I do recognize that Americans have much of their net savings in the stock market and that many companies are ethically run despite the fact that the SEC is watching porn and not busting scam companies from stealing their shareholders’ money!
In any event, we hope that things turn around and that the SEC starts investigating public corporations, their corrupt board of directors and officers, and the supply chaain and middle management teams that suck these companies dry and leave shareholders flat broke. Just because laziness isn’t a crime does not mean that the SEC should stop investigating corporations which lose 90% of their shareholders’ capital!
THE INTERNET BUBBLE: So I have been arguing at Hedgephone that once Facebook went public the investment bankers would get their huge fees and would stop needing to use the media to pump up the equity bubble that is going on with web 2.0… Sure there is a ton of value in the new media space but that value is not being purchased by today’s equity investor on the Nasdaq — the money was already made by the venture capital and private equity investors… Now, all that buyers of many of these stocks are getting is an empty bag of permanent capital loss. Anyway, we were pretty spot on with our web 2.0 call but made some mistakes recommending AMZN as short versus directly shorting FraudBook (I mean Facebook!). AMZN is more overvalued, but the suckers like it better and the suckers are hard to bet against right now!
