Category Archives: Financials

The Return of FAZ

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So many ultrashort funds have turned the corner to the upside, it’s really quite surprising. One in particular is the triple-bearish-on-financials fund, shown below. It is exhibiting the same kind of pattern shared by so many other short funds: an emergence above a descending trendline that goes back for a long, long time. I’d certainly wait for prices to relax back down to the trendline, but before too long, these might be fantastic long positions.

1013-faz

Listen to the Secret Goldman Recordings

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Goldman Sachs, as is widely known, is the most venal and amoral organization in corporate America. They will stop at absolutely nothing to line their already very packed pockets, although doctors across the land were able to save some cash on vomit-inducing drugs by instead showing them the cheesy Goldman Sachs ads from 2010 touting how they were doing God’s Work for the nation.

Of course, in this politically-correct culture of ours, people are too nervous to dare criticize Goldman, lest they be accused of being you-know-what. NPR, to their credit, has put together a sensational hour of secret recordings (drawn from nearly 48 hours of raw audio) that were made illustrating, in no uncertain terms, how utterly captured the U.S. “regulators” at the Fed are who work at (or, more accurately, for) Goldman Sachs. It is well worth your time to listen to this piece. It will make you mad, and although the nation’s anger isn’t enough to remove this black-hearted cancer of a company from the planet, it’s at least worthwhile to be better-informed. Click here to listen to This American Life’s expose…………

Revenge of the FASholes

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Financials are a peculiar sector, because one didn’t have to nail the March 2009 bottom in order to get a bargain. Indeed, one could have waited about two and a half years – – until October 2011 – – to get incredibly cheap prices. Since then, though, they’ve been marching ever-higher, just like everything else.

However, I noticed an interesting break in the FAS trendline (FAS being the triple-bullish leveraged ETF for financial stocks). Regardez, s’il-vous-plaît………

0909-fas

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Stumpf it

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Those promoting the bad GDP data should listen to Wells Fargo CEO John Stumpf who, like this cranky little spot in the financial media here at biiwii, thinks the US economy is “stronger than people think”.

Wells Fargo CEO: The US economy will surprise you

All you have to do is open your eyes and look at corporate profits and manufacturing, to name but two major pillars. Jobs is another, even considering the constant debates about the quality of said jobs. (more…)