- Did you catch the President this morning? He gave a press conference touting the economy. He gave one of his strongest and most upbeat presentations in recent memory, highlighting 18 quarters of growth, tax revenues coming in higher than projected, the budget deficit coming in lower than expected, unemployment at 4.6%, etc. Looks like he had a big ol' bowl of Wheaties this morning. I can't remember seeeing President Bush so energetic and optimistic on stage. A pleasant surprise.
- Hey, the stock market just ramped to the upside as I'm typing. Hmm. Searching around for why... Ah, maybe KLAC news according to RevShark at realmoney.com. That's why I love realmoney. Those blogs and columns are good for finding out "wha da heck jus happened?" Well well well. As I mentioned yesterday, we are in earnings season and Semicon West is going on. And options expiration next week. Sometimes a swooning market ahead of these kinds of catalysts can propel some massive short covering and buying if news is good. We'll see how it goes this time. I remain long with beta (tech and semis). I know I'm repeating myself. But, I mostly trade over the intermediate term, so sometimes I don't trade for weeks or months. Anyways, so far we're in a summer trading range that I thought would happen. But I bought near the lows (so far), so no worries.
- Magic mushrooms? "Magic mushrooms," used by Native Americans and hippies to alter consciousness, appear to have similar mystical effects on many people, U.S. researchers reported on Tuesday. More than 60 percent of volunteers given capsules of psilocybin derived from mushrooms said they had a "full mystical experience.". Were they bouncing off Goombas? Good column. Gee, how do you get to be a part of that study?
- President Bush seemed to have a greatly increased well-being or life satisfaction during the conference this morning. Hmm.
- Hey, Treasure Hunters is a pretty good reality show. Finaly caught it last night here and there. Kind of like the Amazing Race. Something to watch...
