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Futures are appreciably higher this morning, with the Dow looking at a triple digit gain at the open. If markets can hold these levels, the Tuesday/Wednesday trading will erase all of the S&P negative outlook sell off and then some.

Intel (INTC) beat estimates, and forecast higher sales in Europe and Asia for Q2. IBM also issued sales and profit forecasts that suggest a corporate computer systems upgrade cycle is getting underway, following a fallow period during the the recession (See Dollars Flow Back Into Tech).

European bourses were up 2%; Asian markets were up one and half %.

Category: Earnings, Trading

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

27 Responses to “Melt Up!”

  1. VennData says:

    It’s morning in America. I just love the way the Commander-in-Chief makes me feel about myself, my country, and my portfolio.

  2. Petey Wheatstraw says:

    Financed with the dollar in a death spiral.

  3. Chief Tomahawk says:

    Evidently others are ignoring S&P’s “call” as well.

  4. b_thunder says:

    How much of IBM’s and Intel’s Y/Y earning increases is due to the devalued US Dollar?

  5. rktbrkr says:

    Laissez les bons temps rouler, keep printing Ben, someone may be gaining on you!

  6. Mike in Nola says:

    They are just celebrating the one year anniversary of the BP Oil spill and the fact that no one went to jail even for killing people. Hayward’s even going to start collecting his $900k annual pension this year.

    All the banksters are feeling safe.

  7. wally says:

    Buy now or be priced out forever!

    :-)

  8. macrotrader603 says:

    I love all the cynicism on here. Some of you need to stop letting your opinions of the world influence your ability to make money.

    It doesn’t matter why you think markets do what they do.

  9. Petey Wheatstraw says:

    Make money? There are only four ways to “make” money: Farming, mining, manufacturing, or invention. Everything else is gambling. Growing tulips is a viable and secure way to make money, providing the enterprise will pay the input costs, over time (and if the market demand for them changes, you can always grow something for which there is greater demand). Speculating on the future price of tulips on the open market is gambling.

    To be clear, during the course of our current collapse, I have made unprecedented (and, as yet, unrealized) gains in my net holdings, when measured in dollars, only because I am cynical as hell and willing to gamble.

  10. wally says:

    “Farming, mining, manufacturing, or invention.”

    And printing, Don’t forget printing.

  11. [...] the US markets are rockin’ and rollin’, I wanted to follow up a small NYTimes piece that might have slipped by unnoticed: Populist Advance [...]

  12. macrotrader603 says:

    How’s your cynicism paid off the last 2 years? I trade long and short, I have no attachment or bias to anything, other than printing my own money. There is no room in trading for emotional attachment, bias, or cynicism.

    You may want to add professional speculation to your list of ways to make money, at least for those of us who don’t bet our emotions.

  13. Petey Wheatstraw says:

    Printing makes currency (and the more you print, the less it’s worth as a medium of exchange), not money (unless you’re printing commercially, then, it’s manufacturing).

  14. wally says:

    Well, if you’re going to be humorless this fine morning…
    Management can make money, too. For instance, running a farm efficiently makes more money than running one inefficiently… and the same is true of the other things you list. Don’t forget that government may also be a form of management.

  15. cognos says:

    Petey W — What an idiotic worldview! Are you from the 1800s?

    I can name dozens of other ways to make money. In fact, I wouldn’t recommend any of the ones you name. Human capitalism is a rich multi-faceted place. This is a really cool thing. Venture capitals, stock investors, bond managers and investment bankers… all play great roles alongside bloggers, painters, chefs, farmers, and tanning salon owners.

    Surgeons make money… they dont farm, mine, manufacture or invent. (Although the richest ones often “invent”).

    Lawyers make money… turns out defending and pursuing the rights of the disenfranchised and wronged is often extremely well paid (as is defending the corporations).

    Sports stars make money. Psychologists make money. Accountants make money. Etc, etc.

  16. cognos says:

    I’ll say it again…

    Classic multi-year RECOVERY.

  17. Greg0658 says:

    calm down Greg … 8, 9, 10
    yes Cognos ok – but are those activities exportable?

  18. Greg0658 says:

    speaking of manufacturing and printing and exportables and mutli threads here @TBP …
    hows that duplicating thing going down from the land of China in your eyes?
    say like Hollywood manufacturing to start

  19. rktbrkr says:

    Home sales up 3.7% compared to a month ago – thats the headline, down 6.3% compared to a year ago – thats the meaningful comparison – and it wasn’t even in the body of some MSM reports I read. Inventories up and prices down

  20. @Petey,

    Graft is NOT gambling

  21. Petey Wheatstraw says:

    Thanks, CM.

  22. Petey Wheatstraw says:

    cognos:

    You are full of shit.

    Venture capitals, stock investors, bond managers and investment bankers produce nothing. Bloggers, painters, chefs invent/manufacture (create). You jump the shark at lawyers — leeches on the economy if there ever were.

  23. macrotrader603 says:

    Petey, sorry I missed you before..I was busy “gambling” (to use your vernacular) again in the commodities markets.

    Maybe you can explain why, if I wasn’t “Farming, mining, manufacturing, or invention”, as you say, my account balance keeps going through the roof.

    COGNOS , it sounds to me like everyone is making money except ol Petey boy, he is too busy being cynical.

  24. macrotrader603 says:

    PETEY, it seems you are the one who is full of it. LET’S LOOK AT WHAT YOU SAID IN POST #9 ON THIS THREAD…..

    “To be clear, during the course of our current collapse, I have made unprecedented (and, as yet, unrealized) gains in my net holdings, when measured in dollars, only because I am cynical as hell and willing to gamble.”

    ANSWER IF YOU CAN, I AM SURE YOU CAN NO’T…

    1. Which “current collapse” are you referring to?

    The one that ended in March 09 and has seen stock indices and commodities more than double?

    2. Exactly which markets did you profit in, by being “cynical”?

    Since you’re gains are “unrealized” as you state, then you did not cover any shorts…so exactly what markets did you make such big gains in by being cyncial, ie. short, with open positions?

    3. Ovbviously you have not been long on this double, so where are these large unrealized gains you boast of?

    You, sir, have put yourself into a box.

    Pip Pip cheerio

  25. Petey Wheatstraw says:

    macrotrader603 and cognose,

    Yes, I’ve made money betting against the dollar (and as I said, as yet, unrealized as fucks like y’all are driving everything to the moon). That collapse. Gold (bought at $650), silver (at $14 and again at $20) and a certain foreign currency (currently a 30%+- gain). Any other questions?

  26. Greg0658 says:

    I don’t intend to stoke – but to continue the chat ..
    “large unrealized gains” – I take that as #s in accounts and waiting* for the correct** high tide to cash out into***

    * favorable income taxations and capital gain fees (like age metrics ?)
    ** prefer not to crash the system with a quick withdrawl (like friends ?)
    ** the dilemma (like whats valued at real these days ?)

  27. macrotrader603 says:

    well let’s give PETEY some credit for at least responding.

    Difference is Petey, if you weren’t so cyncial you’d have lot more realized and unrealized gains. I am long gold and silver and short USD also with you.

    However, you have missed much bigger moves in oil, stock indices, and many commodities.

    Mixing your emotions and opinions with your trading doesn’t work out in the long run. You got a few calls right , but I’m sure you left out the bets against this recent uptrend that you bet against. Like you said, you’re cyncial and willing to gamble, i.e. a blown out short.

    Trading off opinions is a losing plan.