The market’s wall of worry looked more like a trampoline this week as bad news continues to be absorbed in a nanosecond, soft bond auction, horrible consumer sentiment etc. Thursday’s dollar bounce acquiesced to reality on Friday and softened yet again. Is the greenback basing ahead of a potential dead cat bounce? The short trade there is silly crowded. If it is, don’t count on a Santa Clause rally, if it isn’t, expect Santa to be very generous to the bulls, hard to believe, but only six weeks left before we put 2009 in the books.
Have a great weekend and enjoy the links, but first “The Lloyds Prayer” (HT unknown)
Our Chairman,
Who Art At Goldman,
Blankfein Be Thy Name.
The Rally’s Come. God’s Work Be Done
On Earth As There’s No Fear Of Correction.
Give Us This Day Our Daily Gains,
And Bankrupt Our Competitors
As You Taught Lehman and Bear Their Lessons.
And Bring Us Not Under Indictment.
For Thine Is The Treasury,
The House And The Senate
Forever and Ever.
Goldman.
Great interview by my pal Jon Markman and RBC chief market strategist Bob Janjuah, who called the crash and the subsequent rally. It’s not good.
China’s malls are empty, but whole cities?
My favorite Family Guy scene.
AIG’s Bob Benmosche is hard to deal with, but one thing is for sure, he hates big government. I’m rooting for him.
The recession is over but the Depression has http://www.upsidetrader.com/wp-admin/post.php?action=edit&post=5582&message=1just begun.
The $787 Billion flop.
Reasonable doubt works every time.
Paulson gets big in Citi but dumps Goldman.
Mr. Clean is so Tom Clancy. Obama and Acorn.
Which big country will default first?
I’ve been to his home at the Sherry and met his wife Denise, now Marc Rich’s biographer speaks and he can never come back.
Will Obama ever shake off Acorn?
I hope NBC’s Zucker isn’t standing on one foot waiting for another Friends, Seinfeld tandem, it could be a long wait.
Green start ups and stimulus money.
“The Office” pays the Wall St. Journal.
I love Jim Chanos, not because he was the first to uncover Enron’s fraud, but because he is one of the best outside the box thinkers out there. He thinks China is all a sham. Why? Empty hotels, malls and cities everywhere, I guess he’s silly like that.
The week in hedge fund fraud.
David Wells said he was drunk for his perfect game, but Doc Ellis was tripping on LSD for his no hitter.
Krauthammer on Hasan. Was he just a nut?, I think he was a nutty terrorist.
Why are we trying to force young adults to buy healthcare?
The Fed’s Woody Allen policy.
The top 10 moments in Steve Jobs career.
Unemployment grim through 2020?
In case you are in to Twilight.
Is something big about to happen? The dollar short trade is crowded, bad news for stocks if they hit the exits.
The rebirth of hedge funds.
Chanos has a problem giving the fox the key to the hen house.
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