From The Friars Club Encyclopedia of Jokes: “My dog can bark like a congressman, fetch like an aide, beg like a press secretary, and play dead like a receptionist when the phone rings.” – Gerald P. Solomon…don’t know who he was but he had it down!

Bloomberg Quote of the Day: “It is better to be hated for what you are than to be loved for what you are not.” – Andre Gide …translation please!!!

Bloomberg Top Stories:

*Blackstone rushes $2.5 Billion Home Purchases in U.S. as Prices Increase – for now?

*Stocks Climb on Earnings Outlook as Yen Weakens Amid Stimulus Speculation – huh?

*Morgan Stanley Said to Plan 1,600 Job Cuts in Coming Weeks – stimulus?

*Merkel Economy Shows Signs of Neglect Amid Concern Over Return to Sick Man

*UBS Is Overhauling Culture Following Libor Scandal, Orcel Tells Parliament

*Spain’s Allure Unsullied by Adopting Bond Writedown Clauses – not Banco Santander

*Goldman Sachs Will Disclose Daily Values for U.S. Commercial Paper Rates

*Alcoa Sees Aluminum Demand Accelerating on Chinese Recovery – gung hay fat choy!

*Dollar General Ailing as Customers Pay $800 More in Payroll Taxes

*GM Expects ‘Modest’ U.S. Market Share Increase in 2013, Chief Akerson Says

*Feldstein Who Harpooned London Whale Ready to Help Banks Exit Derivatives –YES!

*Obama Said to Name Lew Tomorrow as Choice to Replace Geithner at Treasury

*Syria Begins Biggest Prisoner Exchange as More Than 2,000 Rebels Are Freed – ?

*Boeing Joins GE in Making House Donations to Winners After Backing Losers – and you thought they lost some power…government of the corporations, and for them!

– and away we go…yet again! A second down session following Friday’s mixed session purportedly on earnings concerns…but now we are up on expections for good earnings? Hello…does any of this make sense to you, investor? All indices were down this time led by Dow Industrials and Transports which posted a modest 0.4% loss. The two Nasdaq indices each fell by 0.2%. Total NYSE volume rose slightly to 3.56B shares vs 3.29B vs 3.42B vs 3.82B vs 4.2B. Trades executed on the floor of the NYSE also rose to a weak 692M shares vs 626M vs 651M vs 707M vs 859M shares. Advance/declines and Breadth were all slightly negative. Note that new 52 week highs hit 713 a week ago today and are now 314 vs 316 vs 428 vs 437 while new lows dipped slightly to a weak 16 from 21. After closing at 22.70 on 12/28, the S&P VIX volatility measurement was little changed at a near 12-month low (13.32 on 8/17)  but slipped to 13.62 -.17.

Global stocks higher, U.S. following suit…average index is up about 0.5%

The bond market continues to eke out gains as it climbs back by its nails back from the abyss. The 10 yr note is 1.87% vs 1.89%, and the 30 yr 3.07% vs 3.08% – still well above the old 3% high set on 12/18! TIPS also slightly better at 0.44% vs 0.46% – but back from the 0.22% record low set on 12/6! Libor is stable at 0.305%, 3 months, and 0.50% six months. Foreign bond rates are mixed with Germany, U.K., and France slightly lower and Spain, and Portugal, higher…Greece 11.39% +.31!

Gold closed slightly lower at $1662.20 + $15.90 but still below the 200 day m’a with huge resistance at $1701! The $1636 low on 12/21 – lowest since 8/21 is now key support. It is still weak at $1657.60 -$4.60. Crude was little changed for a fifth day after breaking above $92, closing at $93.15 -.04 – still well above the 40/50 day, and the 200 day: $91.71! Overnight it is up slightly at $93.52 +.37.

…TB’s computer is and had to have Microsoft techs in Phillipines and India work on it for three days. Virus corrupted the anti-virus ware and on that computer have to replace everything tonight. Thanks to the time zones TB was up until midnight with them the last two evenings…not fun! By the way it is one of the worst they have seen in locating. Only clue was in using Microsoft Security Essentials it would show it was off and would get message computer was not protected (duh!). So TB would turn it on and run scan. It would then cancel the scan and turn off the anti-virus! So TB only thought he was protected…like with our government!

That’s all for today…hope yours is a good one!


. . .  – – –  . . . (SOS!)  . . .   – – –  . . .  (SOS!) . . .   – – –  . . .  (SOS!)


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