A GREAT LESSON IN ALWAYS KEEPING UP WITH THE MARKET!

[email_link]

Research In Motion Ltd. (RIMM)’s stockpiles of BlackBerry smartphones and PlayBook tablets have swollen by two-thirds in the past year because of slumping sales, raising the chances of the company’s third writedown since December.

The value of RIM’s in-house supplies grew 18 percent last quarter alone, a faster rate than at any other company in the industry, according to data compiled by Bloomberg. And that doesn’t include the BlackBerrys gathering dust at RIM’s carriers and retail partners. Apple Inc. (AAPL), meanwhile, saw its inventory decline 11 percent in the period from the previous three months.

Continued

SOURCE: http://www.bloomberg.com

GREAT QUOTES FROM SOME OF THE BEST AND BRIGHTEST

[email_link]

Warren Buffett (Net Worth $39 Billion) – “‘Price is what you pay; value is what you get.’ Whether we’re talking about socks or stocks, I like buying quality merchandise when it is marked down.”

George Soros (Net Worth $22 Billion) – ”I’m only rich because I know when I’m wrong…I basically have survived by recognizing my mistakes.”

Carl Icahn (Net Worth $13 Billion) – “You learn in this business: If you want a friend, get a dog”

David Rubenstein (Net Worth $2.8 Billion) – “Persist – don’t take no for an answer. If you’re happy to sit at your desk and not take any risk, you’ll be sitting at your desk for the next 20 years.”

Continued

SOURCE: http://addicted2success.com

HOW DO YOU SPELL THE WORD SCHMUCK?

[email_link]

Of course, this should get him a promotion at MSNBC.

Effete: affected, overrefined, and ineffectual; see “Chris Hayes.”  OK, I appended the name of the MSNBC host to the dictionary definition.  But if ever you wanted to see the human embodiment of the adjective in action, have a look at the video from his MSNBC show this morning of the too-refined-by-half Hayes explaining why he is “uncomfortable” in calling America’s fallen military members “heroes.”  

Hayes is worried that doing so is “rhetorically proximate” to justifications for more war.  Oh, the rhetorical proximity!  

Continued

SOURCE: http://newsbusters.org

Trading Setups

Just a small note that the Greek elections are June 17th…not sure what it will mean. It is amazing that many believe the answer is more debt and government spending. This is what is believed here. I dont know when we got to that point but it is sickening to watch. The answer is the opposite. The politicians try to use the word austerity but it isnt. It is just spending what you are taking in…like any normal person would do.

Markets remain in correction. I will start with the good news.

The good news is that there is a little positive divergence as the nasdaq holding up a little better than the dow…which is always a good thing. Not sure if this lasts. The good news is everyone…well almost everyone is bearish. Of course, they were all bullish a few weeks ago. The good news is that major indices have been holding recent lows…but then the bad news. The bad news is that so far, the bounce off the recent lows is a joke…anemic is the word. The bad news is that a ton of stuff has broken down. The bad news is that foreign markets are worse. The bad news is that there is really nothing to buy. So…

here are my leaders…

alxn,amzn,bbby,biib,crus,cern,dds,dltr,expe,ebay,gnc,mnst,shw,swi,tsco,trip,ua,v,wfm.

Of those names, alxn, dltr, ua and v just got back above the 50 day…and as long as they stay above, I am fine…as they build bases. Of that list, best names are expe,ebay,gnc,mnst, shw,swi.

aapl,cmg,isrg and pcln are the strength from the last move but all are below…but starting to base. There is nothing wrong with a past leader basing below the 50…in fact, it is quite normal…but nothing to think about as they cant go higher until they are back above.

Also, housing remains my favorite group…and defensive issues like abt,cl,df,ecl,hsy,kmb,
ko,kft,t and vz continue to be strong…which is really not good news.

I am still sitting. Shorting will come on any further anemic bounce or if major indices break down out of the past couple of weeks. Also, we have to always worry about the maniacal Bernanke when shorting as he can unleash is fake arsenal at any time to prop up markets.

Other than that, I am quite happy to sit out the nausea after making good cheese off the last up move. It is vital to be patient and let the market run its course.

 

Gary Kaltbaum owns Kaltbaum Capital Management, LLC (“KCM”), an investment adviser registered with the U.S. Securities and Exchange Commission. The opinions expressed herein are those of Mr. Kaltbaum and may not reflect those of KCM. The information offered in this publication is general information that does not take into account the individual circumstances, financial situation or individual needs of an investor. The information herein has been obtained from sources believed to be reliable, but we cannot assure its accuracy or completeness. Neither the information nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. Any reference to past performance is not to be implied or construed as a guarantee of future results.

Trading Setups

Futures flat after being up decently earlier. Germany and a few other countries said go screw to having European bonds…and knowing they would be on the hook when others defaulted…so Europe fell back.

Trading probably light today but nothing to do anyhow. Without a follow through do, I am doing nothing more than to wait for oversold condition to be worked off in order to do some shorting. That only occurs on bounces or if market just sits and breaks down off this wedge/bearish flag pattern.

No matter what, we still keep our watch list of best stocks…just in case the market does decide to turn up. You have that list but warning…if market gets another leg down, they will usually come after almost everything that is strong.

Have a safe weekend.

Gary Kaltbaum owns Kaltbaum Capital Management, LLC (“KCM”), an investment adviser registered with the U.S. Securities and Exchange Commission. The opinions expressed herein are those of Mr. Kaltbaum and may not reflect those of KCM. The information offered in this publication is general information that does not take into account the individual circumstances, financial situation or individual needs of an investor. The information herein has been obtained from sources believed to be reliable, but we cannot assure its accuracy or completeness. Neither the information nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. Any reference to past performance is not to be implied or construed as a guarantee of future results.

 

Trading Setups

While the market is being defended, there is still a clear lack of ability to move things higher. In fact, they killed the clouds today…and the nasdaq lagged. It took a news-induced late day move to get the market where it closed.

You have my lst of favorites…but I am not buying until market confirms a rally. For me though, any more sitting around or anemic bouncing will just set the shorts up…and if you look closely, major indices may be forming bear flags…but need another card or two out of the deck.

Pre holiday trading tomorrow… and end of month next week…had better rally the market…or else.

 

Gary Kaltbaum owns Kaltbaum Capital Management, LLC (“KCM”), an investment adviser registered with the U.S. Securities and Exchange Commission. The opinions expressed herein are those of Mr. Kaltbaum and may not reflect those of KCM. The information offered in this publication is general information that does not take into account the individual circumstances, financial situation or individual needs of an investor. The information herein has been obtained from sources believed to be reliable, but we cannot assure its accuracy or completeness. Neither the information nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. Any reference to past performance is not to be implied or construed as a guarantee of future results.

Trading Setups

Just in case, my favorite names are EXPE,SWI,MNST,TRIP,EQIX,EAT,CRUS,BBBY,SHW and most housing names. Other names are WFM,TSCO,MLNX,FIRE,GNC,CERN,EBAY,PII.

Market had a good reversal…volume was heavier on the nasdaq but blah everywhere else.

I actually hope we eo dot get a follow through day as I would like bases to be longer…but if one occurs, we will look at these names. EXPE and SWI actually breaking out in spite of earlier market weakness.

My dumb uneducated guess is that the market is trying to carve out a low into Memorial day and end of month…but not sure there will be much to this. Markets were due as they were oversold and stretched to the downside. Just keep in mind that there is a lot of noise out of Greece…who I suspect will leave the Euro. Many calling for another Lehman moment. I am not so sure.

I dont have much more to add except to say realize market had a chance to sell off today and couldnt…at the same area it has hit all week…indicating some near term support could be craving out in here.

 

Gary Kaltbaum owns Kaltbaum Capital Management, LLC (“KCM”), an investment adviser registered with the U.S. Securities and Exchange Commission. The opinions expressed herein are those of Mr. Kaltbaum and may not reflect those of KCM. The information offered in this publication is general information that does not take into account the individual circumstances, financial situation or individual needs of an investor. The information herein has been obtained from sources believed to be reliable, but we cannot assure its accuracy or completeness. Neither the information nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. Any reference to past performance is not to be implied or construed as a guarantee of future results.

THIS IS ONLY THE BEGINNING OF THIS ADMINISTRATIONS MISALLOCATION OF OUR CAPITAL

[email_link]

This is only the beginning of this administration’s misallocation of our capital.

Despite a growing backlash from his fellow Democrats, President Obama has doubled down on his attacks on Mitt Romney’s tenure at Bain Capital. But the strategy could backfire in ways Obama did not anticipate. After all, if Romney’s record in private equity is fair game, then so is Obama’s record in public equity — and that record is not pretty.

Since taking office, Obama has invested billions of taxpayer dollars in private businesses, including as part of his stimulus spending bill. Many of those investments have turned out to be unmitigated disasters — leaving in their wake bankruptcies, layoffs, criminal investigations and taxpayers on the hook for billions. Consider just a few examples of Obama’s public equity failures:

Continued

SOURCE: http://www.washingtonpost.com

NOW THIS BAD VETTING

[email_link]

Bill Clinton just out-Clinton’d himself — posing with two famous porn stars in Monaco moments ago … and one of them’s a real up-and-comer.

Clinton’s in a Monte Carlo casino right now for a special “Nights in Monaco” gala event — and several celebrities are in attendance … including Diane Kruger, Joshua Jackson… and a BUNCH OF PORN STARS.

Continued

SOURCE: http://www.tmz.com

THE REAL NUMBERS

[email_link]

The typical American household would have paid nearly all of its income in taxes last year to balance the budget if the government used standard accounting rules to compute the deficit, a USA TODAY analysis finds.

Under those accounting practices, the government ran red ink last year equal to $42,054 per household — nearly four times the official number reported under unique rules set by Congress.

A U.S. household’s median income is $49,445, the Census reports.

The big difference between the official deficit and standard accounting: Congress exempts itself from including the cost of promised retirement benefits. Yet companies, states and local governments must include retirement commitments in financial statements, as required by federal law and private boards that set accounting rules.

Continued

SOURCE: http://www.usatoday.com