Wednesday, February 15, 2017


The Morning Call


Fellow fun lovers, my family issues have taken longer to resolve than I expected.  So I am going to be tied up through the weekend.  I have been keeping up with the Markets in off moments and coping links to relevant articles

The Market

            Bottom line: the Averages are on a sizz; so sit back and enjoy it.  It potentially has the makings of a melt up which historically has marked the beginning of the end.  Still too soon to know.

            The stats on previous bull and bear markets (short):


            US largest creditors dump Treasuries

            Boom Bust barometer (short):



            Bottom line: the US economic stats this week have so far been upbeat while the global numbers have been down right awful.  Yellen testified yesterday and net, net sounded a tad more hawkish.  The Market seemed to love it because it had a Goldilocks sound to it (economy is strengthening so tightening is coming, we are just not sure when).

            In addition, it seems the legislative calendar is starting to clog up: repeal Obamacare, tax and spending bills, Supreme Court Justice to confirm.  So may are having doubts about what can indeed to done.  The good news is that the ‘border tax’ may fade into the background.  The bad news is that the end result could be nothing but a food fight. 

            Meantime, stocks get ever more overvalued.
            The latest from David Stockman (medium):

            The latest from Jim Rogers (medium):

            More on the ‘border’ tax (medium):

            More on valuation (medium):

       Investing for Survival
            Lessons from 2016 (part 3):

    News on Stocks in Our Portfolios
Illinois Tool Works (NYSE:ITW) declares $0.65/share quarterly dividend, in line with previous.

PepsiCo (NYSE:PEP): Q4 EPS of $1.20 beats by $0.04.

Revenue of $19.52B (+5.0% Y/Y) in-line.
Cummins (NYSE:CMI) declares $1.025/share quarterly dividend, in line with previous.


   This Week’s Data


            Goldman’s latest on the economy (medium):

            EU banks embark on mother of all debt binges (medium and a must read):

            Quote of the day (short):




Paying them not to kill us (short):


            The EU will soon be free to mismanage their own affairs (medium):

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