Lloyd Blankfein, Goldman Sachs

Lloyd Blankfein, Goldman Sachs

Perhaps the #1 Shadow Banker

Congressional Wimps

The Barons of Banking went in front of Congress yesterday and what happened the can best be described in the fact that the XLF (The ETF that measures financial institutions) went up +1.13 .  Congress didn’t lay a glove on the Barons of the Shadow Banks. The Foxes are still in charge of the hen house.

The first step in all this is the restoration of  of the Glass Steagall Act . In 1999 the GS act forever changed big banks from conservative institutions to ones that traded financial Weapons of Mass Destruction (Warren Buffett’s words for CDS’s)

As stated before , we’ve even allowed the "too big to fail financialsNOT to have standard mark to market accounting rules.

Its like robbers (an inside job) blew a hole in the side of a bank wall and took money. You – the taxpayer – insured the losses. But the hole is still there and the bank is not telling us what we lost .

Even The National Geographic Magazine

Weighs in on heath care with a chart Other countries have significantly more doctor’s visits, live much longer and cost far less.

"Why the high cost? The U.S. has a fee-for-service system—paying medical providers piecemeal for appointments, surgery, and the like. That can lead to unneeded treatment that doesn’t reliably improve a patient’s health. Says Gerard Anderson, a professor at Johns Hopkins Bloomberg School of Public Health who studies health insurance worldwide, “More care does not necessarily mean better care ."

On Tuesday Massachusetts votes for a Senator and basically the election is turning into a referedum on Health Care.

Remember to check out Comments Section.


KISS & Stocks (Keep It Simple Stupid)

If you don’t understand a term look in up at Investopedia.com dictionary


Index Percentage Volume
Dow +0.50% down
NASDQ +1.12% down
S&P500 +0.83% down
Russell2000- +0.17% -

Investors411 record – 5 years of beating benchmark S&P 500 and almost all major US indexes

Technicals, Fundamentals & Analysis

See Positions , Strategy , and Overview for changes made over weekend.

We made up for most of the previous days losses, but volume wes lower. The trend over the last few months has been weak volume on up days. Long term this in a bearish trend.

  • McClellan Index at 17.92 = Neutral.    @+60 or overbought territory & @-60 or oversold. This Oscillator as formed a strong support @ zero (see chart). It held once again yesterday , if we break though you might see it fall all the way toward oversold territory of -60

Earnings season has begun and Intel reports tonight

The long term bul l is trend is firmly in place – Short term markets are just a wee bit overbought.


The  Positions Section (also at top of blog) has the latest buys and sells (Usually updated over weekends)

These are positions I actually own


Proposed schedule (sorry limited time this AM)

  • Monday Fearless Weekly Forecast and focus on multiple charts
  • Tuesday and Thursday – Stock Watch List
  • Wed. & Friday – ETF’s Wacth List
  • Any buy of sell will be immediately mentioned.

Bough another 1% of portfolio of IMAX at 12.9. (plan to add more on another dip)

See POSITIONS (scroll down) for details on this and what’s under consideration for 2010.



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