Archive for March, 2009
Like Him or Not, Glenn Beck Hits Bullseye IMHO
1984=2009?
- George Orwell wrote his famous novel “1984″ in 1949 but it is coming true in 2009
- Last week President Obama announced that we would no longer call enemy combatants “Enemy Combatants.”
- Yesterday the Office of Management and Budget sent a memo instructing people who are fighting the Global War on Terror that it was no longer Global, nor a War, nor had anything to do with Terror.
- The new phrase is to be, “Overseas Contingency Operation.”
- Although the OMB denied it was ordering a change in phraseology, Washington Post writers Scott Wilson and Al Kamen reported,
“Senior administration officials had been publicly using the phrase ‘overseas contingency operations’ in a war context for roughly a month before the e-mail was sent.”
- The non-memo went on to strongly suggest that senior Pentagon officials should “pass this onto your speechwriters and try to catch this change before statements make it to OMB.”
- In an editorial, “Investors Business Daily” added,
We give tax “cuts” to people who don’t pay taxes, spending is “investing.”
- This Obamian move to change the language to suit its policies has its roots in Orwell’s 1984. In that novel this was called “Newspeak.” That is not pronounced newz-peak; but new-speak.
- As an example, the word “joycamp” was used to describe a forced labor camp. A “memory hole” was actually a series of pipes into which papers were placed to be shredded.
- Words take on new meanings all the time. The word “gay” used to be defined as
“excited and merry; manifesting or inclined to joyous exhibition of content or pleasure”
- I’m pretty sure a remake of the 1934 Fred Astaire/Ginger Rogers movie would not, today, be titled “The Gay Divorcee.” It might be, but the plot line would probably be different as would the marketing campaign.
- When the Hormel Meat Company introduced its Spiced Ham product in 1937 they couldn’t have guessed that it would come to mean “unwanted e-mail.”
- Plenty of others:
Hot didn’t used to mean attractive
Bomb – really attractive
Bread – money
Dough – more money
Cool – hot.
- Some words take on a different meaning depending upon their usage. A slider at a Major League Baseball game has a far different meaning than it does at a curling match.
- Let’s join in the fun and invent new words and phrases for the Obamian Newspeak dictionary.
Deficit. Can’t have a deficit. Let’s change it to “Suspended Surplus.” That’s good.
Veto. Too negative. Henceforth it will be known as a “Legislative Facilitation.”
Unemployment. Oh, no. We’ll be calling that “Occupational Realignment.”
Foreclosure. Nah. “Strategic Housing Stockpile.”
Recession. That’s easy. “Bush’s Burden.”
Due to Popular Demand..
I’m truly grateful and feel blessed to have this blog. I feel I’m finally doing something that actually helps many people even though I play with fire being involved with junior resource stocks.
I have to ask readers to please direct any questions you may have to the comment sections on my posts. Please don’t email or call my office. Here’s why. Many times your question is similar to many others. Rather than answer all the emails about it, I can do it all at once on the blog. If I don’t answer, it means I will try to take it into account in future postings and/or it’s been answered and/or discussed in a recent post/comment. Okay? Thank you
With that in mind, let me respond to several emails about NDM.
- A close on Friday above $7.10 U.S. would be a technical breakout with $10 as a new target.
- I’m not buying anymore but nor am I selling
- This is my own thought-the volume has been especially strong even when gold and the stock market is down. To me, it feels like a large buyer.
- Is this man coming just to say hello?
Here’s my pick for sack leader in 2009
Take Me Out to the Ballpark..
Update 5:30PM DST
U.S. Stock Market – This stock market bull suit isn’t half as itchy as it was when I first put it on. Next thing you know I’m going to be watching CNBC-TV and cheering Booyah (Please God no).
Like it or not, today was another win for us bulls (did I just say us? Please, hit 9,000 already before I lose my mind). The market snapped back sharply from yesterday’s session only to lose all its gains and then some. In fact, it sold off to a point where it was in danger of breaking some key support levels. But unlike so many other times, it not only failed to crater but ran up again into the close. There’s no doubt in my mind that this put at least a little fear into the bears (I know it would me if I still was one), something they’ve not had to deal with until lately.
The fact that it rallies now on anything less than very bad economic news and can even come back after a bout of selling, strongly suggests it’s going to take higher prices before any sustained selling can cap this rally.
Allow me to use this spot to comment on several emails I have received asking how I could’ve turned bullish after being so bearish, not withstanding it was a correct call. The problem with the vast majority of so-called experts is they tend to always be one-sided. Take for instance the metals and mining industry where I hang my hat (when someone is not hitting me with it). I’ve been around numerous colleagues of mine and for 10, 20, 25 years they’ve been making the same forecasts. I’m sorry to say most of them will never change. The same is true for eternal bulls you find working for brokerage firms who always say it’s a buying opportunity.
The only real chance for success is being willing to change no matter what and realizing the ultimate crime in investing is not being wrong, but staying wrong.
U.S. Treasuries – Just one week after the Fed shot its silver bullet and caused treasury yields to fall sharply, the 10yr and 30yr have already given back half those gains. Additionally, yields rose today despite the FED beginning its buy program. The opportunity to have sold short the 10yr. under 2.50% was an early Christmas present.
U.S. Dollar - It had a little hiccup today on a misinterpretation of what Geithner said about the Chinese and the U.S. Dollar. But I came away from those remarks feeling even more secure in my extremely bearish stance on the dollar because it’s what he didn’t say. There was no strong rebuke. In fact, by suggesting its worth considering was an admission IMHO that he recognizes something like that is inevitable. Stay tuned.
Precious Metals - They continue to try and break the back of gold and silver but they only bend and then bounce back. I believe we continue to build a base to finally get us over the $1,000 U.S. mark on gold.
Base Metals – I think one has to selectively pick at base metals on any real pullbacks. I continue to look at base metals stocks on any weakness with copper my favorite.
Oil – It’s consolidating big gains and as long as it stays above $50, we shouldn’t worry about any meaningful correction.
Hudbay Minerals – The stock appears ready to break out above $6 and has the potential to make a good run to the $9-10 area. It will need to do some work to get above the 200-Day M.A. but with the fundamentals much brighter, this stock appears ready for a new, long-term uptrend.
Mexico – The Next Iraq?
There Are Always Two Sides to Every Story
Updated Model Portfolio
I updated my model portfolio Please note buy/sell/hold is just a guideline and each investor is different. This is not to serve as investment advive but rather what I like per my own investment criteria. I can’t give individual advice. The guideline is as of this morning and will change without notice. I will of course note any buys or sells on a direct post on the blog
