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February 7, 2007
Cara’s Daytrader Bull Board, Wed., Feb. 7, 2007, 7:26 AM
Yesterday I spent the day editing my book manuscript. I am now free of that task until the weekend. The book is slated to be published in late March.
Bloomberg TV news opened with the following statement: "This morning there are reports of the fifth US helicopter accident in Iraq in the past couple weeks." Why does media no longer feel compelled to state the truth about this war?
"Brad" pointed me to this interesting article. I don't think that the US politicians yet have a grasp on how quickly grassroots opposition is being propagated via the web. They better wake up soon because the Senator is right.
"Frank" recommended this excellent book.
Interactive links
Worker productivity is a favorite of economists to explain low or declining inflation. This is one datapoint that I ignore because it serves mostly as material for spinmasters.
This month I actually heard a Talking Head state (ie, misstate) that productivity gains in the past year were over 25 pct. That kind of noise should be ignored.
The spec heavy Shanghai market enjoyed a bit of a recovery today (+1.5 pct).
Stocks in the heavy exporting countries of Japan, South Korea and Taiwan were down overnight, but a falling Yen ought to help. How low can the Yen go?
Not much happening until tomorrow’s BoE and ECB monetary policy decisions.
Testimony by Treasury Secretary Paulson that the Yen is not being pushed down by Bank of Japan policy, but instead has a lot to do with a nation struggling to manage inflation, sent the Yen lower (and $USD higher). But it’s fair to say that his remarks were not believed by the majority of economists.
U.S. Treasury Bond Mar. contract
Crude Oil remains firm.
Gold spot chart
April Gold is back close to $660 this morning.
April Silver is presently $13.70.
Here are the current Cara 100 RSI-7 values, sorted by highest and lowest Monthly values, prepared by “Sergey”.
Daily RSI > 70 in Cara 100 (12 of 25) With one click, these charts can be changed to Monthly or Weekly values.
The number of Cara 100 stocks that are trading with Daily RSI-7 above 70 (25) is still extreme.
Daily RSI < 30 in Cara 100 (3) With one click, these charts can be changed to Monthly or Weekly values.
Carnival Corp (CCL) runs into heavy costs with Crude Oil so high.
Starbucks (SBUX) has one of those media omnipresent CEO’s, but apparently traders tuned out last October.
Posted by Posted by Bill Cara on February 7, 2007 07:26:44 AM | Category: Cara's Bull Board
Discourse
I'd like to see a much shorter book, "When Presidents Don't Lie"
Posted by: SteveG ![[TypeKey Profile Page]](http://www.billcara.com/nav-commenters.gif)
at
February 7, 2007 7:57 AM [link]
I'd like to see a much shorter book, "When Presidents Don't Lie"
Posted by: SteveG at
February 7, 2007 7:58 AM [link]
crude oil trading 59.50, and the contract is in a NR7 volatility expansion setup ahead of inventory data at 10:30ET, the data reporting period ended before the cold snap hit chicago, metals can easily be affected by an oil move after the numbers, and also the stock market, as crude above 60 is a 'tax on the economy'...
best premkt volume: CSCO EOP TZOO BRCM...gap down WHR CAKE EAGL MEDI
Posted by: deacon31 at
February 7, 2007 9:22 AM [link]
crude oil got under 59, so dow 12700 compx 2500 round number test
gold stock volumes very low, a la NEM 1.3 mil
HUI.x 336 the 50% of 270-402 and 50MA=333.4
Posted by: deacon31 at
February 7, 2007 11:18 AM [link]
Bill, I just don't get your query "Why does media no longer feel compelled to state the truth about this war?" Hell, the major media outlets [TV and print] seem to focus on what's gone wrong 95% of the time! You have to go to FoxNews or right-leaning blogs to learn what's gone well. Just as in VietNam, the US will absolutely NOT LOSE the military campaign in Iraq -- but very well may lose the "War of Will" LARGELY DO TO SLANTED REPORTING.
Posted by: FozzieBear at
February 7, 2007 11:40 AM [link]
This link to Peter Navarro's testimony to Congress on Feb. 1st was recently posted on Charles Kirk's website. It dovetails with Bill's link to the article on Senator Coburn.
http://www.peternavarro.com/dailyblog.html
If Congress continues doing business as usual, the dollar is doomed in the long term. I also agree with Mr. Navarro that the U.S. is overly preoccupied with the Middle East.
Posted by: tremendous11 at
February 7, 2007 12:01 PM [link]
I see Cameco getting kicked around today!
Announced on RobTV
Cameco will be delayed 5 to 7 YEARS on shipping due to the flooding and also the costs of repair are being delayed.
Brian
Posted by: skylane at
February 7, 2007 2:49 PM [link]
I see Cameco getting kicked around today!
Announced on RobTV
Cameco will be delayed 5 to 7 YEARS on shipping due to the flooding and also the costs of repair are being delayed.
Brian
Posted by: skylane at
February 7, 2007 2:49 PM [link]
But skylane, CCJ's interest in Asia is up and running just fine. Your remarks are confined to the Canada mine disaster right? Cameco is still the largest Uranium miner by far the West has even with this hicup.
Further, don't forget it mines for gold and is part owner in nuclear power plants.
Posted by: C.Note at
February 7, 2007 4:03 PM [link]
"Brad", the article you recommend is just wonderful. Thanks for letting us know about it.
Bill, thanks for posting it.
Posted by: GemmaStar at
February 7, 2007 4:22 PM [link]
ALOHA !!
Fozzie ... I am not sure how you can "win" a military campaign and then abandon all your bases and pull out 100% like what happened in Vietnam. Why have a campaign at all if you define winning by leaving?
The simple fact is that no superpower has ever won guerilla warfare fought at a grassroots level. We proved that to the British over 200 years ago yet we keep electing leaders that have yet to figure that out. In reality Russia can manufacture RPG-29s faster and cheaper than the USA can manufacture M1 tanks or BlackHawk helicopters. That's the difference ...
Posted by: kaimu at
February 7, 2007 6:38 PM [link]
C.Note
I agree with your comments on CCO , I also think it's an above average long term buy. But with today's earnings and the Mine/water problem at CL the market sentiment has turned against it, I never try to swim against the current.
I will watch for a tide change before jumping in.
Brian
Posted by: skylane at
February 7, 2007 9:21 PM [link]
Article by Mike Whitney on the US Dollar
Posted by: DollarBill at
February 7, 2007 10:30 PM [link]
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Credit crunch alarm by Merrill Lynch
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/02/06/cnmerr06.xml
"We think global interest rates are going to rise a lot more than investors are discounting, and this is a worrisome outlook for profits,"
Posted by: Lelik![[TypeKey Profile Page]](http://www.billcara.com/nav-commenters.gif)
at
February 7, 2007 7:38 AM [link]