Monday Night Randomosity

• The stock market paused a bit today. Tomorrow is “Terrific Tuesday,” as every Tuesday has been an up day in 2013.  Another?  Isn’t that getting obvious?
• Getting the blame as the reason du jour for the stalling action in the markets is “correction worries.”  Well, folks have been worried about that for quite a while, haven’t they?
• Tornado rips through Oklahoma.  Horrible.  Donate to the Red Cross if you can.
• Apple’s Tim Cook to push Congress for tax reform. Look, Congress, at least the House, doesn’t have a problem reducing corporate tax rates.  But the Senate and the President have no interest in cutting corporate tax rates.  Those folks think the rates should be higher!
• Besides, if this is about Apple paying accountants to find ways to reduce the company’s tax burden, more power to them.  It’s not cheating if you follow the rules!  Even as Apple became the nation's most profitable technology company, it avoided billions in taxes in the United States and around the world through a web of subsidiaries so complex it spanned continents…
• The Dodgers bullpen lost every game in the Atlanta series.  Well done, fellas. 
• Kershaw (not pictured) tonight for the Dodgers.  Greinke (also not pictured) tomorrow.  That’s got to be pretty brutal for the Miami Marlins.  (Until the bullpen comes in…)
• How about a Jim Rogers video?  Jim Rogers, the legendary investor and Chairman of Rogers Holdings, says the commodities bull market continues. He calls the latest slump in prices a correction. “I still don’t see massive new supply coming into the market which will keep prices down,” he tells The Daily Ticker. 
• I saw Jimmy on Tom Sullivan’s weekend show on the Fox Business Network. I agree with him. 
• Thousands of French Households taxed 100% or more.  Nice.  There’s an incentive to wake up to the alarm clock each and every morning, right?  It was due to a one-off levy, but still.

Market Thoughts and Apple!

Well it has been five days since I've blogged and even longer since a podcast or audioboo. Where does the time go?The market has had a bad day and a good day this week. Lets start with yesterday, as the market ramped up at the open due to the Spain "getting a new credit card" news. Of course, the market sold off later. Whether it was a sell the news on Apple's WWDC or a realization that more debt in Spain won't cure the problems of huge debt due to entitlement spending, the market tanked into the close.

But then, today happened. Reason du jour? Bargain hungers - with the caveat that they're still worried about Europe.

Uh... Well, must have been a slow news day. Can't blame Shellie Zimmerman, can we? Or the LA Kings?

My thoughts are that there are no reasons to buy here, as the summer correction isn't yet over. I think anything near the previous lows may be interesting, though. Even though we normally have a summer correction, I would look for that to end a bit earlier this year. But, it is what it is. Not trying to anticipate it. I am just watching. Haven't even done any short-term trades.

But... I am working on a new Black Box for short term trades. Even just one-day trades. We shall see. "Paper trading" as of now.

And Apple? Well, I think the iOS6 news is fantastic. First, for the new iPad. Add in the cars and more hands-free use, app launching, new mapping system, and integration with social networks, and the iPhone and iPad will continue to be extremely popular. Bad news for Google, though. Google apps will be buried somewhere deep on the iPhone, somewhere where we will all forget about them.

***

Dodgers lost game one of the Freeway Series against the Angels. In the ninth!

LA Kings won. WOW! I'm not a hockey fan per se, but I did watch some of last night's game. Until it was 4-0, then I just turned it off.

I bought a new truck and got rid of the sports car. I was thinking about something more fuel efficient, but in the end I just got something that I wanted instead. One would think that the sports car was my mid-life crisis car, but I've been driving in the truck blaring Motley Crue over the bluetooth audio, with a big grin on my face.

Kick start my heart!

 

#163: Sell in April and Go Away - The Market Crash; Apple, ATT, Dodgers

#157: Global Fear! Magic Johnson and the LA Dodgers!

#98: 2-Day Stock Rally and the Los Angeles Dodgers

#80: $AAPL, $CMG, and $YUM Earnings, Dodgers, Weird Al Yankovic and Lady Gaga

#74: All Clear on Stocks, Jobs Growth, Dow Theory, Dodgers fans Beat Giants fan

Stocks, Dodgers, Alyssa Milano

• Alyssa Milano is looking for a big stick ...on the Dodgers.  She seems a little concerned about the lack of firepower on the bums.  I think she's right.  And I think she writes a pretty good fan blog.   Good job, Lyssa.  And keep those one-liners from your brother coming.
• Somebody sure took a big stick to the stock market today.  In the bull leg up, all the dips were bought.  Every sign of weakness was reason to buy.  Every sign of strength was reason to buy.  Every comment by the Fed was bullish for stocks.  Anyone selling was a fool.  But something changed last week, and we're seeing it carry through this week.  Today the market rallied off of the early lows, but all that was taken out late in the day as we closed at the lows.
• The 10-yr Treasury is at a five-year high.  Greenspan stated concerns about inflation in China, as inflation hit 3.4%.
• We just came from a world of .6% GDP and 2.6% CPI.  The fear is that we're running hot and inflation is perking up.  We'll get inflation numbers later in the week, and those could be market movers.
• Kiplinger says stocks are going to keep going up.
• Foreclosures jump 90% from 2006.  "Such strong activity in the midst of the typical spring buying season could foreshadow even higher foreclosure levels later in the year," said Saccacio. "Certainly not every community nationwide is seeing an increase in foreclosures, but foreclosed properties are becoming more commonplace and adding to the downward pressure on home prices in many areas."  It certainly won't add to the upward pressure on home prices! 
• Got Milk... Money?  From Fox News, citing the skyrocketing prices of milk.  Move over pains at the pump, milk prices are hitting record highs and still climbing, and on the way up hitting consumers in the pocketbook.  "It's cheaper to cook breakfast for children. Cereal and milk could cost $10," said Food Mart manager Tracy Duke. Last week the Alabama store had milk for $4.39 a gallon.  OK, focus on the part of the excerpt where "it's cheaper to cook breakfast..."  Because, that is what folks will do.  Think "Let them eat pancakes."  Or, eggs.  Whatever.   If it costs $10 for cereal and milk, people will make other choices.  Try apple juice on the cereal (it's quite good, actually).  As folks switch from milk and cereal to other things, milk supplies will increase and prices will go down. 
• And if they don't?  Screw 'em.  Cows are bad for the environment anyways!
• I remain in low beta holdings with plenty of cash on the sidelines.  Nothing has really changed there.  Dumped some mo-mo names on the lift mid-day. 
• So, growing up in SoCal, I spent many a day watching the Dodgers.  My dad was a huge baseball fan.  I can't help but think of him whenever I see a game.  And he was big on leaving early to avoid the traffic.  It'd be a sprint to the car in the 8th inning!  He'd want to hurry so we could listen to the last couple innings while driving away.
• My answer to Alyssa Milano on what the Dodgers need?  A better farm system.  I just don't think revamping the team every year is a solid solution.  Lets go old school.  Recruit and retain players.  Build fan loyalty and player recognition.  I don't even know if that's possible these days with guys out there chasing dollars instead of wins.  But certainly something to try.  Better than missing the playoffs or getting knocked out in the first post-season series year after year. 
• What the Dodgers are doing now is like Rome hiring foreign soldiers to fight their wars.  Not a lot of brand loyalty when your butt is on the line.  We see these guys who seem to be more interest in cashing paychecks.  And next year they'll be on somebody else's army.  Er, team.