We all know the success of Avatar and the extraterrestrial Utopia that was Pandora. Pandora according to Greek mythology, was also the first woman on earth and made famous the phrase, “Pandora’s Box”. It was actually a jar, not a box, but if opened would release all the evil in the world. Today, opening Pandora’s box means to create evil that cannot be undone.
We chug along to higher highs, bad news is always good, the retail investor is still no where to be found, yet the pull higher continues. Ben and Timmy continue to make Greenspan look like a stone cold hawk on the economy, while the Fed’s Fisher waxes semi doom. As I said the other day, I’ve been bearish for the last six months, but long the whole way up. I think that’s how many traders feel, except for the ones that have been trying to pick tops along the way. I’ve been guilty of that on a few occasions over this period, but have been quickly reprimanded and embarrassed by Mr. Market. Tight stops though, make short term mistakes tolerable. If you want to be in with the in crowd, I strongly recommend using them, unless you like your head on a stick.
Have a great week and be careful out there. Don’t fight the trend, it’s smarter than you. Effective this Friday, October 15th, my monthly subscription rate will be increasing to $199, and annual to $2000. All existing and new subscribers before the 15th will be locked at the current rate 0f $99 and $799. Thank You.
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Week of Monday, October 11, 2010 thru Friday, October 15, 2010
Monday, October 11, 2010
Economic
Events
Bond markets closed for Columbus Day holiday
Earnings
Before the Open: None seen. After the Close: GPN
Tuesday, October 12, 2010
Economic
10:00 IBD/TIPP Economic Optimism
14:00 FOMC minutes
Events
Fed’s Hoenig, ICSC/UBSW Chain Store Sales. Redbook Retail Sales. ABC Consumer Confidence. Trades Ex-dividend: STD $0.163, LEN $0.04, STEI $0.03
Earnings
Before the Open:FAST After the Close: ADTN, CSX, EXFO, INTC, LLTC
Wednesday, October 13, 2010
Economic
8:30 Sep Import Price index (m/m, y/y); Canada Aug new housing price index m/m
16:30 API Crude Oil/Gasoline/Distillate Inventories
Events
19:45 Fed’s Lacker, MBA Mortgage Applications. Trades Ex-dividend: ABT $0.44, ACN $0.45, AYI $0.13, AXE $3.25, AZZ $0.25, CLDT $0.175, CHCO $0.34, FCX $0.30, LNCR $0.20, WSO $0.52
Earnings
Before the Open: ASML, DPZ, HST, IGTE, JPM After the Close: APOL, SPTN
Thursday, October 14, 2010
Economic
8:30 Aug Trade Balance, Sept PPI, PPI ex food & energy, Initial Jobless Claims, Continuing Claims
10:30 Natural Gas Inventories
11:00 DoE Crude Oil/Gasoline/Distillate Inventories
Events
Trades Ex-dividend: GGG $0.20, POT $0.10, THO $0.10
Earnings
Before the Open:APP, CBSH, FCS, LSTR, MTG, PGR, SWY, SXT, WGO, GWW After the Close: AMD, CBST, GOOG, JBHT, TPX
Friday, October 15, 2010
Economic
8:30 Sept CPI, CPI ex food & energy, Sept Advance retail sales, Oct Empire Manufacturing,
9:55 Oct preliminary Univ of Michigan Confidence
10:00 Aug Business Inventories; Mexico Overnight Rate
Events
8:15 Fed’s Bernanke, 9:15 Fed’s Lockhart, Trades Ex-dividend: VALE $0.24
Earnings
Before the Open: SCHW, FHN, GCI, GE, GPC, INFY, KNL, MAT, WBS After the Close: WDFC
