Interesting Reads...
Barry Ritholz who I read daily had links to some other well reknowned financial bloggers so I have some new regular reading material. Couple interesting articles I found today...
Article on Corporate Governance at Countrywide. It certainly leads one to believe that this debacle is probably not over.
http://tinyurl.com/35s7j3
Article on the Fed's next move...
http://tinyurl.com/2lwesw
Article arguing Barry Ritholz's critique of the Fed's inflation measures. I actually think that both Brad and Barry are saying the same thing really. Inflation exists but the Fed must figure out a way to downplay it some so as to lead the public to believe that continued rate cutting is acceptable in the face of any inflationary concerns. You can't say we are going to cut rates because inflation is not existent if you don't have data to support it so they say there is weak core-inflation, cut rates and everyone is happy. Except Barry maybe :), although I'm sure his commodity trades he has recommended are doing quite nice so I doubt he's that unhappy.
http://tinyurl.com/2qdqak
My current thoughts on the fed...
I think the fed will cut again at the end of this month. I'm hoping gold can keep support at or near the current levels. I'd hate to get stopped out of my positions in GFI and SLW knowing the fed is going to cut and that the rally in gold is going to continue (a Barron's article this weekend said gold would likely trade to $1,000 in short order). But after 25%+ gains in each, I need to protect the gains. In a perfect world, I would get stopped out w/ my gains and would find a re-entry point on some short-term weakness prior to the fed meeting and get back in prior to the next leg up to $800? $850, $1,000!? But who knows. It's a guessing game so I just play by my own rules. If I have a solid plan and solid buy/sell rules I'll do fine. Long SLW, GFI, BC, CSX.
Article on Corporate Governance at Countrywide. It certainly leads one to believe that this debacle is probably not over.
http://tinyurl.com/35s7j3
Article on the Fed's next move...
http://tinyurl.com/2lwesw
Article arguing Barry Ritholz's critique of the Fed's inflation measures. I actually think that both Brad and Barry are saying the same thing really. Inflation exists but the Fed must figure out a way to downplay it some so as to lead the public to believe that continued rate cutting is acceptable in the face of any inflationary concerns. You can't say we are going to cut rates because inflation is not existent if you don't have data to support it so they say there is weak core-inflation, cut rates and everyone is happy. Except Barry maybe :), although I'm sure his commodity trades he has recommended are doing quite nice so I doubt he's that unhappy.
http://tinyurl.com/2qdqak
My current thoughts on the fed...
I think the fed will cut again at the end of this month. I'm hoping gold can keep support at or near the current levels. I'd hate to get stopped out of my positions in GFI and SLW knowing the fed is going to cut and that the rally in gold is going to continue (a Barron's article this weekend said gold would likely trade to $1,000 in short order). But after 25%+ gains in each, I need to protect the gains. In a perfect world, I would get stopped out w/ my gains and would find a re-entry point on some short-term weakness prior to the fed meeting and get back in prior to the next leg up to $800? $850, $1,000!? But who knows. It's a guessing game so I just play by my own rules. If I have a solid plan and solid buy/sell rules I'll do fine. Long SLW, GFI, BC, CSX.
posted by Brian P. Egan at 12:16 PM
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