21-5 Jan '13 Eco Calendar: Buy AM/SellPM, Kick the Can/Korean Sabers
It's buy in the morn, sell in the PM for daytraders, as the market plows ahead to make Jan a "typical" post election push, which voodoo has foretelling an up year provided January is an up month, provided first week in Jan was an up week. But only on leap years at Haven, where they have a sci fi reason for the troubles, and we here stuck in reality have only Congressional cowardice to blame. Printing presses are at full steam, housing is reflating (while what your dollar buys languishes), Congress kicks the can till end of May, giving it four months to kick the can till end of year. The least they can do is get out of the way, and the market takes it kindly. Inflation is tame, as long as you take the price of food clothing and shelter out of it, and pushing Social Security back till 70-75 is on the table, if you don't mind the table being set for all those reaching retirement age 2050, about a half century too late to save the country and the currency. Otherwise everything is just fine in a country which gets its moral compass from reruns of "The Shield", and its idea of creativity is to turn fairy tales into horror movies. What would you expect from a nation that spent the last twenty five years copying its term papers off the internet?
Here it is Thursday and I am late to the party having shivered thru the flu for two regretful weeks. The house is at 80 degrees and bundled in blankets, I couldn't get warm even drinking scalding coffee. Suddenly I read the Koreans are ready to test another missile clunker, the PM on 24 Jan is off a whole percentage point, and I am foggily looking for the trigger with frosty fingers ready to pull away on some pullback nonsense. AAPL snores while GOOG soars. SLW and SLV backtrack, then attack. Two more years of loose money I'd love to pick up, but only if it buys something.
Anyone think the claims numbers will improve? Or even make sense? Or are trustworthy enough to make investing worthwhile? Follow the herd. Today I wouldn't be surprised if bonds were "rediscovered" as safe haven until the Korean missile falls into the drink.
Jan 22 10:00 AM Existing Home Sales Dec 4.94M 5.10M 5.10M 4.99M 5.04M
Jan 23 7:00 AM MBA Mortgage Index 01/19 7.0% NA NA 15.2% -
Jan 23 7:00 AM MBA Mortgage Purchase Index 01/19 - NA NA NA -
Jan 23 9:00 AM FHFA Housing Price Index Nov 0.6% NA NA 0.6% 0.5%
Jan 24 8:30 AM Initial Claims 01/19 - 365K 355K 335K -
Jan 24 8:30 AM Continuing Claims 01/12 - 3200K 3200K 3214K -
Jan 24 10:00 AM Leading Indicators Dec - 0.5% 0.5% -0.2% -
Jan 24 10:30 AM Natural Gas Inventories 01/19 - NA NA -148 bcf -
Jan 24 11:00 AM Crude Inventories 01/19 - NA NA -0.951M -
Jan 25 10:00 AM New Home Sales Dec - 360K 385K 377K -