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.

Would Jim Rogers Buy Facebook? No!

Would Jim Rogers buy Facebook IPO? No! I can't blame him. The fish are biting, though. The Nasdaq is near 11 year highs as I type. Even today's early morning swoon is met with buyers by the end of the day. Today was similar to Friday, in that any weakness is bought up. That's pretty bullish. Yet, we are extended and at those highs I mentioned early.

Could the Facebook IPO be the end of the rally?

Hmm...

posted from Bloggeroid

End of Quarter (and Jimmy Rogers)

• Last day in quarter, and market rallying nicely. Looks to have bounced off (or near) the 50dma.  That's a good thing.  Will check the internals later, but nice day heading into the last hour.
• Jimmy Rogers (in a bowtie and not pictured) on CNBC, doesn't believe the market has bottomed, and is buying commodities.  Says fundamentals for commodities are improving, while bank fundamentals aren't.  And that the printing of money will lead to higher prices.  He says Obama should've let the banks go bankrupt and "stop throwing good money after bad." 
• Jimmy, "300 million Americans are propping up a few guys so that they can keep their Lamborghinis."
• Jimmy lives in Asia now.  Has only bought Chinese stocks in the past year, but not buying them now.  Says China is spending their money on intelligent things, while America spends money on "makework projects."
  
• Not enough diversity in Obama's bailouts?  "We are not going to sit by and allow billions of dollars to be dumped into this economy and have the same old players being advantaged by it," said Rep. Maxine Water, D-Calif. "We are tired of being overlooked."
• Flying under the radar for the financial crisis?  Don't these guys deserve some of the blame for the last few years?  Senate Banking Committee Chairman Christopher Dodd and House Financial Services Committee Chairman Barney Frank.

Pic is of Cheryl Burke. Of course. I actually voted after Dancing with the Stars last night. The Woz, Steve Wozniak, just because. And Cheryl.

Jim Rogers - Inflation is Coming

I've mentioned it a lot lately. I agree with Jim Rogers.

I'd love to post a link, but I'm on the iPhone. No cut and paste! Try a google search for this and it comes right to the top

Inflation is what we should expect with expansion of the money supply. Consumers will have more money with lower energy costs and whatever Obama provides via stimulus. In addition, interest rates are lower.

Jim Rogers, "... throughout history, whenever you've had gigantic printing of money and spending of borrowed money, it has always led to higher prices."