Friday, January 13, 2012

Black Eye Friday

Synchronicity, serendipity or a simple case of "it just figures." That's what Friday's sell off feels like after nothing but bullish action in the stock market all year.  True, most days left spinning top candles of uncertainty so the rally is far from powerful. But up it went, volume be damned.  Volume? What volume?

And then there's Maude, er, a stern warning that Europe will be downgraded. Did anyone NOT see that coming? But it was indeed a black eye on a Friday and Jamie "King of the (Financial) World" Dimon did not help. He called JPM's earnings "mildly disappointing," which when coming from a CEO really means "we are in deep yogurt."

On a personal level, my server company moved me last night and this morning my newsletter archive was unavailable. And so were a few of the bookmarks I use to streamline the website editing and permissioning process. Another black eye for me.

And then the President does something very Ron Paul-esque. He wants to combine several Federal agencies to help streamline business. Of course, a day earlier he wanted to raise the debt ceiling by a whopping huge amount. So, small government types who had their panties in a bunch Thursday got a black eye when they got something they wanted Friday and could not criticize the "Socialist."

Newt got one when his capitalism attack on Willard, er, Mitt backfired. Barack got one when it was revealed Bain Capital helped on the auto industry rescue. And then Europe got another one just a day after some rather positive bond sales.

Let's not forget Jon Huntsman's black eye for finishing behind Stephen Colbert in a South Carolina voter poll.

It's time for the weekend.  Ketel, rocks, twist, repeat.

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