Home > Daily Reading on the Financial Markets, Financial Ponzi, investing, Stock Market > Daily Reading on the Financial Markets: 8/10/11

Daily Reading on the Financial Markets: 8/10/11

Cullen Roche says QE2, and the distortions caused by its misunderstanding, is directly to blame for the recent collapse.

Michael Shedlock rails against the ongoing bank bailout being provided at the expense of U.S. taxpayers.

James Kostohryz is bearish on the entire commodity complex, something Chris Kimble has also pointed out in his excellent blog.

Doug Kass asserts that Monday’s washout was the bottom for 2011.

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  1. August 10, 2011 at 8:17 am

    Thanks as always for scanning the headlines. I stop in just about every morning to see what you find relevant on the web.

    Your readers might get a chuckle out of this headline off CNN:
    “Riot Gear Sales Spike: Aluminum Bat Sales Up 6000% in UK”

    No joke, some guy had the nerve to write a greed story in the midst of the terrible goings-on in London.

    http://money.cnn.com/2011/08/09/technology/amazon_riot/index.htm?source=cnn_bin&hpt=hp_bn3

  2. August 10, 2011 at 9:56 am

    Wow, that’s a great a find. I guess in a nation with few guns, aluminum bats are the next best thing. Very funny.

  3. August 11, 2011 at 8:30 am

    I guess Doug Kass’ assertion didn’t hold very long.

  4. August 11, 2011 at 2:32 pm

    The intra-day low was 1100 on 8/9, the day he made the call, so his call is still in business for now… and the closing low from Monday held on Tuesday, so we could turn up from here. I think the S&P needs to close above Tuesday’s closing high. If we get a rally, I expect serious resistance at 1220 and 1270.

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