Lee’s Free Thinking

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The recession is over

As the market just (most likely) formed an important intermediate top it is the good time to celebrate the end of this recession. The bear market rally always ends on perfect news. The end of the recession seems good enough to me to mark the top.

The article I’ve linked above is the perfect example to […]

More Little Lies and Big Spin- Gains or Blips?

The FIM (Financial Infomercial Media) has gifted us with more nonsense today in the form of Pending Homes Sales data from the NAR (Realtors) and the Purchasing Managers Manufacturing Index from the ISM (Purchasing Managers). Bloomberg was positively ecstatic about the housing data, proclaiming “The number of contracts to buy previously owned homes rose more…

FAS

Just one simple chart to see how the triple-leveraged financial ETF from Direxion was perfoming during the rally from March lows:

The performance is compared to simple, not leveraged financial ETF (XLF). As you can see the slippage is amazing. I’m curious to know what is your downside target for the correction (if the correction ever […]

The Fed statement

The best interpretation of the Fed statement I saw here:

Dear Banksters,
We want our f*** money back before October. If not, we will monetize it and have FASB board bring back stricter accounting rules. Do you f*** understand? Now get a move on selling your $2 trillion in equities, you don’t have much time.
Regards,
Benny
P.S. Jamie and […]

Our universal fast-food chain

I hope that the global fast-food franchises is the American invention. Just to be proud about something. And I’m inviting to check the health of our biggest and most important franchise – the dollar.

Please keep in mind that United States is the only country in the world, which is not trying to push its currency […]

Unintended Consequences

This post was by Trader Joe on yesterday’s Stool Pigeons Wire. One of the consequences of the “CRASH” in the high-yield debt market is that corporate treasurers have finally woken up and realized that they can tender for their debt from desperate institutional holders for pennies on the dollar. This can provide a TREMENDOUS BENEFIT…