1/11/11…a special day

…January 11th, 2011, 1/11/11 or in binary, after all this is the computer age: 10101101100111. We have one more such even this year on Veteran’s Day 11/11/11, the next being 1/2/12 and then 12/12/12…and those magic numbers will not be occur in our lifetimes, right?

A lot going on overnight and doesn’t make much sense…dollar is doing better, but so is gold…although the new play may be gold in euro’s. Japan agreed to support the EU debt issuance to bailout the Irish, joining China who has a very vested interest in doing the same. Meanwhile EU sovereign credit default swaps are sharp higher and Portugal is seeing sharply higher rates. US bonds remain strong in the short end while the long end can’t get traction. The 2 year note is yielding 0.57%, 3 yr 0.95%, and the 5 year 1.91%…imagine after all the concern in bonds on swapping back into stocks and you have to go past five years to even earn 2%!?! Something has to give, this is all one big shell game…three card monte. We also have a year bill auction, and 2, 10, and 30 years on tap this week. What fun!

Even Mother Nature has gotten into the act with the northeast expecting yet another huge snowstorm, and that does not bode well for the treasury auctions or finding direction in stock…nobody home.

Speaking of which, yesterday was the first time in six sessions that NYSE volume failed to hit 1B shares…although it was close at 955 million. Accordingly, volume should be low today and tomorrow as New Yorkers try to dodge the flakes. Advance/declines were slightly positive as was breadth, except on the Big Board where it was about 1.2 times negative. Yet the indices traded down almost all day and closed there except for the Nasdaq and Russell 2000 small cap. Once again though we had 210 new 52 week highs, albeit down from the 400 or so we have come to expect, and new lows rose slightly to 25. What’s a mother to do? Sideline herself, TB thinks, awaiting more information, such as inflation which we will get this week.

. . . - - - . . .    . . . - - - . . . (S.O.S.)

Last night’s BCS championship game came as advertised: exciting! But so were the NFL wild card games and playoffs…never a dull moment.

More mea culpa’s (TB hates this but appreciates his readers pointing out his foibles). First, TB did not mean to imply that any political group was responsible for the Tucson shooting, he merely wanted to point out that you can’t make irresponsible comments that give people the feeling they are doing the right thing and protecting America by acting out. There are far too many metaphor’s to guns and shootings and a total lack of civility – except when one of their brethren gets shot and acts as a wake-up call. One friend/reader wrote chastising TB for this comment that has been made by others. The point is: knock it off! It is fine to state your opinion but cut the rhetorical crap that has destroyed the effectiveness of Congress…it is now a high stakes game for power and more campaign contributions and still many act in a corrupt or undignified fashion.

The second error was attributing the ‘Checker’s Speech’ to Ronald Reagan…TB didn’t even believe he wrote that until two friends corrected him. Of course, it was Richard Milhous Nixon…what a guy!

Don’t know whether you heard but Obama has agreed to be interviewed by Bill O’Reilly on Superbowl Sunday…why he wants to do this is beyond TB.

Hope you all have a great 10101101100111!


Trader Bill thinks it is clear to anyone reading these missives that they are merely commentaries...as he sees it...and do not necessarily reflect the views of anyone other than his own. Information is gathered from sources he has found reliable, but no guarantees of accuracy are implied. These are merely observations of events in the marketplace offering in an attempt to offer a non-mainstream viewpoint. Copyright TBD Capital LLC, January 11, 2011.



  1. LDH said

    good luck attempting to “dodge the flakes”. those guys are everywhere!

    • traderbill said

      snow or people ‘flakes?’

  2. Happy 1/1/11!

    I saw you follow the Russell 2000 – If you are interested in a weekly market analysis you should check out Nick McDonald’s commentary on the ICE list Russell 2000 on the ICE commentary homepage (above)

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