If You See Kay

• Got in a little argument with some folks here at the Fun Factory.  They wanted to have a 7:30am meeting.  I balked.  Who has meetings at 7:30am?  Of course, I lost that argument and got my butt in here early for that meeting.
• On The Amazing Race last night, I would've taken a win from anybody but the Florida team.  Got it.  I was kind of pulling for the Bransens, but the Lintzes get an OK from me.  Florida blew it in Montreal.  It was all clicking for them until they had to find the entrance and the flight tickets.  The next series begins in February, and it looks like it's back to couples.  Good thing.  I like that style better than this style.
• The markets?  Well.  Kind of boring for an options expiration week.  We have a couple dull trading weeks ahead of us, and "they" say never short a dull tape.  I'm hearing lots of folks talk about a sell-off in January.   So many, that I wonder if this latest flatness reflects that fear.  The contrarian at me scoffs at "their" crystal balls.  (Of course, I too am seeing lots of internal weakness and sells in my Black Box).
• The meeting originators told me that this was the only time folks were available today.  Huh?  7:30am?  
• If you see Kay, tell her I need her. - April Wine.
• Bill Cara, on blog plagiarism.  This word-for-word lifting of somebody else's comments is wrong, I think. 
• I went into my Outlook calendar, and blocked out all times before 8am, after 4pm, and 11:00-1:00.  Don't schedule a meeting with me when I'm waking up, hungry, or about to leave.
• I do like that financial stocks are strong and chipper.  Somebody wondered about that.   Saying that they really shouldn't be in a rising rates environment.  But what if the stocks are front-running the expectation that rates won't rise much longer?  Just thinking out loud.
• Unfortunately,somebody booked an 11am meeting.  And I'm hungry.  Sigh.  I'll say whatever it takes to end that meeting early.  "Any questions?"  (Greeted by a shaking head, and a growling stomach...)

 

Microsoft Stuff

Microsoft and MTV announce a new music service, dubbed URGE.

==> I don't get the "subscribe to music" business model.  Granted, I'm no longer a teen (or young adult),  but aren't there free versions of online streaming content?  Don't most cable and satellite TV packages have 20-30 music channels?  I don't know if radio can compete anymore, but I'm so into podcasts these days, that I rarely have the AM/FM radio on.

No call waiting at Microsoft, as MCI and Microsoft team up to offer voice over internet through MSN at 2.3-cents per minute.

==> Isn't everybody offering some version of voice over internet these days?  I chatted for awhile using the new version of Yahoo voice chat yesterday.  It works really well, and quality wasn't too bad.  Better than my cell phone, actually.  My big question is whether or not charging money to call landlines is a viable long-term business, when landlines seem to be going the way of the brontosaurus.  I realize people over a certain age may not adopt to this technology, but everybody else is using it.

XBOX 360 supplies tight through the holidays.

==> Yeah, supplies will be tight through February.  Right after that, Sony will hopefully release their new Playstation 3.  One interesting tidbit on the XBOX 360, is that Microsoft released 100,000 units on the debut in Japan, and sales were "tepid."  This tells me that Sony is going to hit the ground running over there when they release their box.

In the Evening

Excellent.

• I've decided to go back to my old-fashioned posting template over w.bloggar.  It's some javascript I pieced together a couple years back that includes a small-time editor, and then the ability to easily insert cartoons and captions in the blog.  I like cartoons.


• Day 2 of options week tomorrow, with a Big Fed Meeting!  I imagine action would be tepid in front of the announcement, as folks wait for "the text" of The Maestro's comments.


• If Alge Crumpler can get 8 points tonight (yards, TDs, whatever), I'm in the fantasy football playoffs.  If not, I'll need some help to back door my way in.


• I downloaded iespell (from iespell.com) for a spell checker.  Free!  It lets you create a library of common words.  I also use the free spell checker from the Google toolbar.


• Houston Texans look like a lock for Reggie Bush. 


• Stanley Tookie Williams declined a final meal. 


• Internet access is kind of expensive.  Especially when you hear about all these municipalities on the verge of providing free wi-fi in certain areas.  I don't think it'll be long until it's free all over.  Or at least the pricing pressure is pushed down.

Fed Heads

• Whenever the market starts off strong out of the gate, I put my skeptic hat on. It's the one with the big "S" on it, and well creased around the edges. There is an old trading bromide about fading the open, no matter which way the wind blows out of the gate.


• The Fed's Alan Greenspan will bust a move tomorrow, and everyone thinks it'll be another .25% uptick. What folks will focus on is the language of the statement. Will "measured pace" still be included, excluded, or reworded for the Holidays? You know, I'd like to hear Alan Greenspan weigh in on the "Christmas" vs. "Holidays" debate. How many words would it take The Maestro to explain his view, and how many pundits would it take to translate it into readable English? I bet he'd say something like:

"While it is true, that in late December, an event transpires that does have some level of significance to many Americans and people around the globe, it is also true that there exists a certain level of controversy on what this day is or means. Indeed, many school children and municipalities struggle with the significance of this late December event year after year, and while the Federal Reserve does maintain an opinion on the matter, what purpose would be served by including any comment or description of this event during this hearing?"

And then Barney Frank would interrupt Greenspan and ask him if the Bush tax cuts "for the rich" were irresponsible.

• Speaking of the Fed, if you want to know more about Ben Bernanke, read Bernanke Confuses Depression Cure with Disease. Ben Bernrnake believes that credit expansions need never end - that a boom can be prolonged indefinitely simply by printing enough money. (Well, we're going to need it. Have you seen the budget deficit?) I knd of wonder what the market mood will be at the time Helicopter Ben takes over, and The Maestro retires.


• I've added a few more index tickers and ETFs to my Black Box market scans. I normally don't stray too far from equities (and the major indices), but I've noticed the Black Box has been doing a good job with sector ETFs. In addition to sectors, I track a few "big stocks" in various industries. Sometimes they give an early tell before the index reacts.


• I don't know if Viacom buying Dreamworks and then selling all their inventory makes sense, either.

All That Glitters

File this under OOPS!. A trader who'd intended to sell 1 share of recruitment firm J-Com for 610,000 yen placed an order to sell 610,000 J-Com shares at 1 yen each instead..

==> This reminds me of a former coworker who was trying to squeeze in daytrading between programming. He meant to buy SIMG, but transposed a few letters and entered a market order for SIGM. He didn't realized what he did for a few days. He hadn't researched or studied the latter stock, and only bought the former on a IM-tip from a buddy. But he decided to keep SIGM just to see how it played out. Shall we just say that "God works in mysterious ways?"

Supreme Court to review Texas political map. The Supreme Court said Monday it would consider the constitutionality of a Texas congressional map engineered by Rep. Tom DeLay that helped Republicans gain seats in Congress.

==> I'm not a member of a political party, because the generally just piss me off. Endless flyers in the mailbox, marketing calls, and then there are the shenanigans. File this under the latter. I believe that people should have a choice in elections, and that every election district must be competitive. I was disappointed when election redistricting reform failed in California. And what DeLay did in Texas was just WRONG! Rigging the system so that districts are uncompetitive should be declared illegal.

The Bull Trader notes gold is trading at a two-decade high. Spot gold is trading at levels not seen since 1981.

==> You heard of the Nasdaq bubble. You're reading daily about the real estate bubble. May I introduce you to the gold bubble? Do you see lots of inflation out there? If you're spending more on energy (sending dollars to OPEC), you're spending less here. Notice the discounting by retailers this holiday season, trying to move inventory. I think the only thing going up dramatically the next few years will be taxes, as the Bush tax cuts expire. And that won't be inflationary, either.

Funday Sunday

• Great finishes to the Dolphins-Chargers and Chiefs-Cowboys games.


• We're heading into options expiration week. Normally a good thing for stocks, especially if the week prior was down. It is December, too. Of course, everybody seems worried about a January sell-off like we had the past 2 years, so maybe that's why we've seen some weakness and folks try to front that. I remain bullish, FWIW!


• Larry Kudlow and Barry Ritholz podcast from Kudlow and Company.


• This is good, Alan Greenspan warns (and the headlines stating so). I think we'll all miss The Maestro when he's retired. Do you think he'll retire or start a new career? I think I'm just kidding.


• As if you need more to read, but in case you do, Birinyi's weekend reading list. He includes the link to the "I-Bond for the holidays" stocking stuffer for kids. And remember kids, that I-Bond grows tax free for 30 years, because Santa is a Republican!


• Peter Brimelow on stock picking (versus owning the DOW index). Says individual stock picking has worked. Well, I think that's true as long as you pick the right stocks. No Pfizer or Ebay, lots of Apple. All you need is the ability to predict the future, and this too can for you.


• If you and your friends have been arguing during football commercials today what the bestselling non-fiction book the new manager of the Tampa Bay Devil Rays is reading, stop the arguing! If you guessed what Joe Maddon is reading, you win!


• Have an opinion on rent control? This is from Cafe Hayek. I don' t like rent control, because I think it puts upward price pressure for new owners.


• I haven't decided if I'm going to get the new INXS music, starring Rock Star INXS winner, JD Fortune. I think they picked the wrong guy. But, the new INXS music received decent reviews.


• If you've followed the dietary supplement craze, then you know it's quite confusing knowing whether or not one should take this vitamin or that vitamin, or various supplements. Just to confuse the matter more, experts urge less focus on antioxidants. I quit taking supplements a long time ago. I think it just makes your pee expensive.


• OK, back to the NFL. I have Samkon Gado going for my fantasy squad....

Audio Drivers

As a techie guy, I can usually figure out computer problems fairly quickly. It seems like I have to spend a few minutes trying to remember how to find my hardware settings and properties, but after a few trial and error clicks down that learning curve, I'm on my way. If I can use Google's (or Yahoo's) search engine, I imagine I'll find the error pretty quickly.
I decided to listen to KFBK's Hanson and McClain show "Money Matters" on my PC today. No sound. I try the easy things first:

• Speaker volume on? Check!


• Speakers plugged in? Check!


• Speaker cable plugged in PC? Check!


• PC volume on and set high? Check!

Ah, crap. It's something else. I open up my audio settings. "No audio device," it coldly blurted out.

"What? I was just listening to you last night. You do have an audio device." So I check for new drivers. I have the latest. I go to Windows and check for updates. OK, I'll update to the latest .Net whatever and reboot. What else do I have to do during this lousy Raiders-Jets game? After all my tweeks... "No audio device."

Finaly, I checked the sounds and audio devices properties. You know what? The device playback changed to use some software I installed months ago. And although that was working fine, I decided to change it to the default device settings, and now everything is working fine.

OK, whatever. Back to football.