Oh yeah...
Dolphy comes in around 4:24...
T-Monk is my main man...
bonus, if I can find it...and, an Anthony tribute to boot...circa early 80's..with Chick Corea, and Miroslav Vitous (I think, on bass)...
Friday, August 13, 2010
and now, the Hindenburg Omen...
We have a "Cardinal Climax" coming, we've had a "Death Cross" of the 50 and 200 day moving averages, we've had a "Dow Theory Trend Change Confirmation" according to Richard Russell, and now, from Zero Hedge...the Hidenburg Omen...is it time to look out below?
The Hindenburg Omen Has Arrived
Submitted by Tyler Durden on 08/12/2010 21:35 -0500Easily the most feared technical pattern in all of chartism (for the bullishly inclined) is the dreaded Hindenburg Omen. Those who know what it is, tend to have an atavistic reaction to its mere mention. Those who do not, can catch up on its implications courtesy of Wikipedia, but in a nutshell: "The Hindenburg Omen is a technical analysis that attempts to predict a forthcoming stock market crash. It is named after the Hindenburg disaster of May 6th 1937, during which the German zeppelin was destroyed in a sudden conflagration." Granted, the Hindenburg Omen is not a guarantee of a crash, and the five criteria that must be met for a Hindenburg trigger typically need to reoccur within 36 days for reconfirmation. Yet the statistics are startling: "Looking back at historical data, the probability of a move greater than 5% to the downside after a confirmed Hindenburg Omen was 77%, and usually takes place within the next forty-days." The last Hindenburg Omen occurred during the lows of 2009. Today, we just had another (unconfirmed) Hindenburg Omen. It is time to batten down the hatches - something big is coming.
Thursday, August 12, 2010
Wednesday, August 11, 2010
Barber- Adagio for Strings
Moving Music. Strings resonate with the heart.
resonate |ˈreznˌāt|verb [ intrans. ]produce or be filled with a deep, full, reverberating sound : the sound of the siren resonated across the harbor.• figurative evoke or suggest images, memories, and emotions : the words resonate with so many different meanings.
Admittedly moved me to tears.
It's emotional power was used in the slow motion death scene in Movie: Platoon.
from TBP
The Fed is worried and thus won’t stop
By Peter Boockvar - August 10th, 2010, 3:05PM
Following the trial balloon in last week’s WSJ, the FOMC confirmed that they will keep their balance sheet constant by reinvesting the proceeds of maturing MBS/Agency securities into Treasuries. On the economic outlook, the Fed said “the pace of recovery in output and employment has slowed in recent months” as we expected them to. Instead of saying the recovery will be moderate over time, they said the recovery will be “more modest in the near term than had been anticipated.” Notwithstanding the recent rise in commodity prices, they continue to rely on CPI/PCE and say inflation has trended lower in recent quarters and will be subdued for “some time.” Hoenig disagreed with keeping the balance sheet constant and didn’t think it was required. Bottom line, stocks love an easy Fed and the Fed delivered with what was expected BUT nothing more. The Fed is clearly still worried about the economy and B52 Ben won’t stop.
As the FOMC doesn’t believe the current level of interest rates are low enough to spur economic activity, they said they will focus their buying of Treasuries in the 2 yr and 10 yr maturities and will begin on Aug 17th. Their balance sheet will technically stay constant in $ value so there isn’t any new ‘money printing’ but the direction the Fed has chosen, the continued desire to suppress interest rates, is an asset price’s best friend as who in their right mind would own too many US dollars. With this said, what the Fed announced today is exactly what last week’s WSJ article hinted they would do so today is just affirmation and we’ve rallied in anticipation so from a risk reward standpoint in the very short term, stocks may be a sell on the news.
Futures are off on QE1.5, slowing US economic growth, and a slowdown in China. The Nikkei Dow fell -2.70%, while most European Bourses are off 1.5-2.0%.
The US pattern over the past few weeks has been for a weak opening to be ground gradually higher, erasing most of the losses by days end on anemic volume. Let’s see if that holds true today . . .
>
Click for Updated Futures
As the FOMC doesn’t believe the current level of interest rates are low enough to spur economic activity, they said they will focus their buying of Treasuries in the 2 yr and 10 yr maturities and will begin on Aug 17th. Their balance sheet will technically stay constant in $ value so there isn’t any new ‘money printing’ but the direction the Fed has chosen, the continued desire to suppress interest rates, is an asset price’s best friend as who in their right mind would own too many US dollars. With this said, what the Fed announced today is exactly what last week’s WSJ article hinted they would do so today is just affirmation and we’ve rallied in anticipation so from a risk reward standpoint in the very short term, stocks may be a sell on the news.
Look Out Below!
By Barry Ritholtz - August 11th, 2010, 6:05AM
Futures are off on QE1.5, slowing US economic growth, and a slowdown in China. The Nikkei Dow fell -2.70%, while most European Bourses are off 1.5-2.0%.
The US pattern over the past few weeks has been for a weak opening to be ground gradually higher, erasing most of the losses by days end on anemic volume. Let’s see if that holds true today . . .
>
Click for Updated Futures
Tuesday, August 10, 2010
Matt Simmons - dead at 67, RIP
I've enjoyed Matt Simmons take on things oil over the last 25 years or so. Really enjoyed his book Twilight in the Desert - an oil industry classic alongside The Prize. Funny, the two books are written by oil industry analysts who are polar opposite in their beliefs - Daniel Yergen (The Prize and Cambridge Energy Research Associates CERA) the perennial oil industry sell-side yes man, might has well been on the XOM payroll - "technology" will overcome depleting oil resources..v...Matt Simmons the main proponent of "Peak Oil", which "occurred" in 2005...
Recently, and I have stated this openly, Matt seemed to be loosing his grip on reality with respect to the Macondo well blowout. He was a financier, researcher, numbers guy, not an engineer, technical guy and, in my mind, somewhat sullied his reputation making outrageous claims at to what happened and what was happening subsequent to the blowout. It was reported that he was hugely "short" bp shares. I guess you could say he put his money where his mouth was. In any case, love him or hate him, he will be missed.
"DEBATE OVER PEAK OIL FAR FROM OVER
http://www.chron.com/disp/story.mpl/business/7146548.html
Recently, and I have stated this openly, Matt seemed to be loosing his grip on reality with respect to the Macondo well blowout. He was a financier, researcher, numbers guy, not an engineer, technical guy and, in my mind, somewhat sullied his reputation making outrageous claims at to what happened and what was happening subsequent to the blowout. It was reported that he was hugely "short" bp shares. I guess you could say he put his money where his mouth was. In any case, love him or hate him, he will be missed.
"DEBATE OVER PEAK OIL FAR FROM OVER
Matt Simmons was known for his research in support of peak oil, a theory of waning world oil supply that dates back decades.
The term was coined in the 1950s by M. King Hubbert, a Shell oil geophysicist who predicted U.S. oil production would peak in 1970 and decline at the same rate it rose. He was right about the peak date for U.S. supply. The oil embargoes of the early 1970s helped put an exclamation point on his prediction as Americans sat in long lines waiting for gasoline.
But Hubbert's prediction about the rate of decline was off, and his prediction that global oil production would peak around 2000 proved wrong.
The counterargument to imminent peak oil - supported by organizations including IHS-Cambridge Energy Research Associates - is that improving technologies will make it possible for companies to find more oil and get more out of existing fields.
The global recession has dampened energy demand, but the debate is far from over. Peak oil theorists note that oil prices still are elevated and that much of the data on global reserves is in the hands of national oil companies or governments that benefit from higher numbers.
TOM FOWLER"
http://www.chron.com/disp/story.mpl/business/7146548.html
Monday, August 9, 2010
LiveStrong Hitchens
I have always admired and enjoyed Christopher Hitchens for his intellectually challenging debate. I have seen him several times on Bill Maher.
I was surprised learn he is battling Cancer.
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