1/11/11 The Power of One
Much of the Easy Coast has already gotten its fill of snow this year, with a large storm over a week ago accompanied by intentional “slow downs” in government that failed regular folks just trying to do their jobs and live their lives (familiar theme in recent years?). Sixteen more inches are headed to NJ late today into tomorrow morning. As desolate and helpless as so many people feel this time of year, in the midst of unyielding weather, barren and grey skies, the challenge is not to succumb to those feelings in our thinking.
In 1989 Bryce Courtenay wrote a novel titled The Power of One. It detailed the terrible childhood of a little boy (Peekay) in South Africa, who refused to allow his spirit to be crushed. He overcame obstacles that would have choked off any giant, and he achieved greatness (in school, in boxing, and in effecting compassionate change for mankind). The book is humorous, inspirational, and a must read for all; it is especially a must read for any who think that they can’t change their surroundings, and as such just go with the flow. It is relevant especially in the dead of winter, as we await more snow, and as we await positive change from our leaders. Sometimes the positive change we all crave comes from within each of us, as we change our own little corner of the world for the better, and only that corner.
Do yourselves a favor today, 1/11/11, and order yourself this book. Actually get it in paper form, as you will want it on a bookshelf when you are done. After you read it you just might feel it possible that our regulators and lawmakers can fix our financial system, despite lobbyists and powerful conflicted special interests. After you read it you may realize that Spring is not so far away after all.
Sorry for all the metaphors.
By the way, will the HFT computer binary models interpret 1/11/11 as lots of ones and “buy commands”? Just sayin’… Futures up strong this am.
Where we left off 4:00pm EST:
INDU 11,637.75 -37.31
SPX 1,269.75 -1.75
CCMP 2,707.80 +4.63
Futures now at 7:30am EST:
Key Data out today:
10:00: Wholesale Inventories.
Since the prior close, some key stories:
– AMD CEO Dirk Meyer steps down?
– Verizon iPhone today?
– NVDA gets $1.5 b from INTC in legal settlement.
– Japan to joining China in propping Europe.
– Goldman opens up with … aw heck. Just more PR and spin.
– Auburn wins national championship.
– Boehner will fly commercial to save money.
– Ivory Coast taking “all necessary measures” to avoid $2.3b default.
– Portugal bond yields still soaring, making bailout inevitable?
Pre-market: LEN, PRXI, SVU
After the Close: FUL, MG, RFMI, SNX
Significant Movers This Morning:
INTT +17.5% (guidance) APOL +5.7% (earnings) TGB +4.9% (Aley property results) NUVA +3.8% (guidance) NVDA +3.8% (INTC agreement) SYK +2.5% (Q4 revenue; FY11 guidance) CKSW -12.9% (guidance) JOE -9.2% (SEC investigation) AMD -4.1% (CEO resigns; guidance) CHTP -3% ($60M mixed shelf) MWE -2.9% (3M unit offering) AA -1.6% (earnings).