Listless lull

[aussiebear]

Not a lot happening for the early openers: Kiwis and Aussies +0.1%, Nikkers -0.4% and Sth Korea -0.1%.

 

Meagre gains for Aussie green sectors: REITS +0.7%, Energy and Financials +0.5%. Telecomms has the biggest loss, -1.1%.

 

 

 

 

[aussiebear]

 

 

 

 

 

 

 

http://finance.yahoo.com/intlindices?e=asia

[aussiebear]

http://money.cnn.com...s/morning_call/

 

 

 

 

 

 

 

http://www.kitco.com

 

 

 

http://www.kitconet....ase_metals.html

 

 

[aussiebear]

 

 

http://www.engrish.com/2006/04/smelly-smell/

[DrStool]

 

Play It Again Sham

 

[MrHanky]

SENTIMENT REMAINS WILDLY BULLISH

 

 

Sentiment readings remain highly elevated as investors become increasingly confident in the equity market rally. According to the latest from AAII bullish sentiment surged again to 53%. This is the 14th consecutive week in which bullish sentiment has been above the long-term average of 39%

 

http://pragcap.com/s...-wildly-bullish

[aussiebear]

 

 

*yawn* All Ords managed all of a 0.1% gain with inertia evident throughout the sectors. Financials +0.8% came in first followed by IT +0.6% ranging down to Utilities -0.9% and Telecomms -0.7%.

 

Mixed in Asia: China -0.1%, Honkers -0.7%, India +1.1% and Nikkers -0.6%.

 

 

On to UK/Europe:

 

 

 

 

 

 

 

 

[aussiebear]

China Trade Surplus Tops Estimates, Adding to Tension

 

China’s trade surplus and new lending exceeded forecasts in November, underscoring the case for higher interest rates and a stronger exchange rate to stem the nation’s escalating inflation.

 

Exports rose 35 percent to a record $153.3 billion from November 2009 and imports advanced 38 percent to an unprecedented $130.4 billion, leaving a $22.9 billion excess, the customs bureau said on its website. New loans were 564 billion yuan ($85 billion).

[aussiebear]

India's Industrial Production Expands 10.8%, Fastest Pace in Three Months

 

India’s industrial production grew at the fastest pace in three months, threatening to strain power and transportation capacities and stoke inflation. Stocks rose.

 

Output at factories, utilities and mines rose 10.8 percent in October from a year earlier after a 4.4 percent increase in September, the statistics office said in a statement in New Delhi today. The median estimate of 29 economists in a Bloomberg News survey was for an 8.5 percent gain.

 

Reserve Bank of India Governor Duvvuri Subbarao said this week that inflation remains above “tolerance level,” as the country battles rising prices along with China. India may raise interest rates in January after pausing at the next policy meeting on Dec. 16 because of a cash crunch at lenders, said economists at Kotak Mahindra Bank Ltd. and Nomura Holdings Inc.

[aussiebear]

Australia Headed for Annual Job-Growth Record, Intensifying Wage Pressures

 

Employment in Australia is headed for the biggest annual increase on record, boosting prospects of an acceleration in wage gains that forces the central bank to resume raising interest rates.

 

Payrolls soared by 366,000 in the first 11 months of this year to 11.4 million, the most since records began in 1978 and 27,000 more than the previous high in 2006.

 

“Labor statistics are probably the best guide to current conditions in the economy,” said Paul Bloxham, chief economist at HSBC Holdings Plc in Sydney and a former central bank official. “One only needs to look back to the last time inflation got above the target band to find that the best real- time indicator of what was going on was the labor market.”

 

“We expect that the unemployment rate will fall further in the next few months,” Bloxham said. “As a result, rates will need to rise further, and we expect multiple hikes next year.”

[Trader Joe]

SENTIMENT REMAINS WILDLY BULLISH

 

 

Sentiment readings remain highly elevated as investors become increasingly confident in the equity market rally. According to the latest from AAII bullish sentiment surged again to 53%. This is the 14th consecutive week in which bullish sentiment has been above the long-term average of 39%

 

http://pragcap.com/s...-wildly-bullish

 

Not raggin on your post...but the WSUrinal did a good article on this indicator yesterday.

 

In sum, from a statistical standpoint, it's a POS.

 

Appears that out of their 150,000 or so members, only 200-300 answer the survey each week.

 

Some suspect each week it's the same lonely 77 year-old douchebags that have nothing better to do with their time.

 

If that is in fact that case, then the survey is largely caca -- historical results and correlations notwithstanding.

[Trader Joe]

Chanos doing a good job of demonstrating what clueless f##k Smarmy Kernan is this AM.

 

Squeeky Quick and Taco Bell taking the smart road, and keeping their mouths shut.

[DrStool]

 

Precious Metals Update

 

[Trader Joe]

I suspect 2011 will be a good year for M&A.

 

Companies will use cheap financing to buy companies to fill holes in their line up, or "buy revenue" that is hard or impossible to raise organically.

 

This will put further strain on unemployment.

 

Also, the jobs that get taken out in M&A usually aren't so much the "line workers". But instead are the redundant CFO's, CEO's, VP's, and other higher paying yobs.

 

Good times ahead.

[DrStool]

Doc's article is up now on Clusterstock, will be interesting to see what kind of hatemail comments he gets.

 

Made it to Sea King Alfie last night also. Most comments have been in agreement. Getting your stuff up on Sea King Alfie is an accomplishment. They have thousands and thousands of instabloggers. I guess they like me.