Lunar Eclipse + Winter Solstice = Awesome

According to NASA:

“This lunar eclipse falls on the date of the northern winter solstice. How rare is that? Total lunar eclipses in northern winter are fairly common. There have been three of them in the past ten years alone. A lunar eclipse smack-dab on the date of the solstice, however, is unusual. Geoff Chester of the US Naval Observatory inspected a list of eclipses going back 2000 years.

“Since Year 1, I can only find one previous instance of an eclipse matching the same calendar date as the solstice, and that is 1638 DEC 21,” says Chester. “Fortunately we won’t have to wait 372 years for the next one…that will be on 2094 DEC 21.”

How often do you get to witness an event that has not been seen since the year 1378, over half a millennium, 632 years ago?

We are supposed to have a clear night this evening, so we should get a nice show.

Solstice Lunar Eclipse (map, 550px)

Category: Science, Weekend

Monday Reads

Here are the latest additions to my Instapaper: • The Effect of Falling Home Prices on Small Business Borrowing (Cleveland Fed) • Bargain Junkies Are Beating Retailers at Their Own Game (Wired) • Finding Time (Orion Magazine) • 145 Minutes With Nassim Taleb (NY Mag) • Counting on Google Books  (Chronicle Review) • Your Apps…Read More

Category: Financial Press

Is the 1987 Pre-Crash Highs Impacting Prices Today?

Chris Kimble writes: “Long-term support resistance dating back to 1987 looks to be at hand right now. This line stopped the rally back in April, this time going to be different?” I am not sure why this line would be significant. In terms of supply and demand, I strongly doubt anyone is hanging around waiting…Read More

Category: Markets, Technical Analysis

NYT Magazine: D.I.Y. Macroeconomics

> Wow, I am honored and flattered to be included in the NY Times Sunday Magazine Year in Ideas, under the header “D.I.Y. Macroeconomics” (text version here). Cited as well were Calculated Risk and Mish’s Global Economic Trend Analysis. Here is the relevant excerpt: D.I.Y. Macroeconomics Until recently, the economics profession largely controlled the production,…Read More

Category: Financial Press, Media, Weblogs

60 Minutes: State Budgets Day of Reckoning

State Budgets: Day of Reckoning
December 19, 2010 4:59 PM

Steve Kroft reports on the precarious financial conditions many states are facing and what they’re doing about it.

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Hat tip Joe Dedona

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Source:
State Budgets: The Day of Reckoning
On The Growing Financial Woes States Are Facing
Steve Kroft
60 Minutes, Dec. 19, 2010
http://www.cbsnews.com/stories/2010/12/19/60minutes/main7166220.shtml

Category: Economy, Taxes and Policy, Video

My thought on the yr end 2011 price target

It’s that time of the year when one of the more common Wall St sellside soothsayer concoctions hit the tape, that of 2011 year end price targets. Unfortunately it’s nothing more scientific than taking a year end earnings estimate and multiplied by typically 15, the relied upon average P/E multiple over the past 100 years….Read More

Category: MacroNotes

Eastman Kodak Color

As seen below EK shares had massive distribution (highlighted by red arrows and circle) This distribution was a cathartic puke if you will. Now will potential future supply (sellers) already absorbed at lower prices EK shares should have an easier time advancing. Please note how recently all the heavy volume days are now on the…Read More

Category: Technical Analysis, Think Tank

Winding Down with an Xmas Rally

Here we are beginning the final 2 weeks of the year. The economy continues to limp along, improving, albeit rather slowly. “Recession fatigue” is likely to make this holiday consumption spree appreciably better than the past 2 years. Markets have looked a bit tired — and yet — every opportunity to see big whackage has…Read More

Category: Commodities, Fixed Income/Interest Rates, Gold & Precious Metals, Markets, Psychology, Really, really bad calls

Monster Turbine High-Performance In-Ear Speakers

Last week, in our Holiday Shopping for Audiophiles, I mentioned the Monster Turbine High-Performance In-Ear Speakers. I found they are great iPod headphones, but pricey at $179.

Amazon is running a one day special: Today only, $59:  Buy a pair for yourself.
(check out the video here)

Read More

Category: Music, Technology, Weekend

FDIC Bank Closings

This may be the last of the closures — (regulators prefer not to work on holiday weekends). We are still under 160, and with just 2 more weeks of 2010 to go, it looks like we may not make it . .  . > > > Charts courtesy of The Chart Store.

Category: Credit, Regulation