I have been thinking a lot about “friendship” lately.
It is almost amazing the amount of Treachery and Deceit one experiences in life.
True Friends are rare and hard to find. Associates I have many, friends very few.
Muhammad Ali on Friendship
Muhammad Ali Poem on Friendship:
“Friendship is a priceless gift that cannot be bought nor sold.
But, its value is far greater than a mountain made of gold.
For gold is cold and lifeless, it can neither see nor hear.
In time of trouble its powerless to cheer.
Gold has no ears to listen, no heart to understand.
It cannot bring you comfort or reach out a helping hand.
So, when you ask God for a gift, be thankful if He sends,
not pearls, diamonds, or riches but, the love of real true friends.”
The Rest is Up to You…
Michael Porfirio Mason
AKA The Peoples Champ
AKA GFK, Jr.
AKA The Sly, Slick and the Wicked
AKA The Voodoo Child
The Guide to Getting More out of Life
http://www.thegmanifesto.com
The word is China’s economic recovery will begin later this year and pick up into 2010. This may be true but what about conditions in the US, Europe, India and emerging markets? We are starting to see some light domestically but have things really gotten considerably better? The difficulty is I still think there is much more pain to come and I’m not ready to go all in just yet. That seems to be the case with many with the record amount of monies on the sidelines. Until real estate bottoms, the employment situation gets better and the banks really start lending, there is no reason to celebrate. I suggest investors use the most recent move in equities to lessen their exposure and not buy into the fact that commodities are going to continue higher at their current pace. Take advantage of the large swings and diversify your portfolio. Be patient as it may well take years to get back to normal market conditions.
Livestock
The USDA increased its estimate of 09’ beef production to 26.44 billion pounds, down slightly from 08’ production levels. The 09’ average price estimate for choice steers was kept unchanged at 86.5 cents/lb. June live cattle closed up 1/3 cent, the highest close in 8 weeks filling a gap from 2/13. Resistance is seen at 85.50 followed by 86.30 with support at 84.25 followed by 83.75. We would be a buyer on a setback with stops below the 20 day moving average which is at 83.00. May feeder cattle were higher by 2.175 cents, the highest close since 2/10. Prices have now gained 6% in the last 2 weeks. Support is seen at 98.40 followed by 97.10 with resistance at 99.50. The last time prices were over $1 was 1/6, will that happen this week?
The USDA reduced its estimate of 09’ pork production to 22.775 billion pounds, down 2% from 08’ production levels. The 09’ average price estimate for barrows and gilts was increased from 46.5 to 47.0 cents/lb (63.5 cents lean). June hogs were up .625 at 74.27 closing back above the 20 day moving average.
Resistance is at 74.60 then 76.00 with support at the 20 day moving average and then 72.70. We are positioned long with clients, purchasing call spreads, selling puts and long futures with a target of 77.50/78.00.
Financials
Stocks: Stock markets defy logic again trading higher but will that last as earnings start to trickle in? The S&P 500 picked up 12.50 points last week to trade at its highest level since 2/10 gaining 1.5%. This was in large part to upbeat news on some financials, namely Wells Fargo’s optimistic views and revisions to the uptick rule. Resistance comes in between 865 and 870 with support at 825 followed by 800. The Dow was higher by 38 points to gain .05% on the week, but navigating these waters could be tense being the Dow had a 400 + point range in a shortened trading week. Resistance comes in at 8060/8080 followed by 8250 with support at 7840/7880 followed by 7575. We expect 7400/8100 range and for prices not to wander too far from those parameters in the next few weeks. The NASDAQ was higher by 20.50 or 1.5% to its highest price this year. The NASDAQ has been positive now for the last 5 weeks gaining 25% in that time. Resistance comes in at 1375 with support at 1290.
To find out exactly how we are positioning our clients in commodity futures and options,
Contact us today at 1-888-920-9997. Don’t forget to tell them The G Manifesto sent you.
To view our full commentary which includes the sectors of energies, livestock, currencies, financials, grains, softs, and metals, subscribe to our 4 week free trial by visiting this link: http://mbwealth.com/subscribe.html. Don’t forget to tell them The G Manifesto sent you.
_____________________________________________________________________________________Risk Disclosure: The risk of loss in trading commodity futures and options can be substantial. Before trading MB Wealth recommends that you should carefully consider your financial position to determine if commodity trading is appropriate for you. All funds committed should be purely risk capital. Past performance is no guarantee of future trading results. There are no guarantees of market outcome stated, everything stated above are our opinions. Calculations of profit and loss have not factored in commissions and fees.
Muhammad Ali, besides being the best Heavyweight ever, and the most important sportsman of all time, was the original master of the swagger wordplay.
Muhammad Ali Speech
“I done wrastled with an alligator
I tussled with a whale.
I handcuffed lightning, thrown thunder in jail!
Only last week I murdered a rock!
Injured a stone! Hospitalized a brick! I’m so mean I make medicine sick!”
“I’m so fast, I cut off the light switch and was in bed before the room got dark.”
Muhammad Ali
Muhammad Ali vs Henry Cooper
The only person I ever asked for a autograph from.
I was 14.
The Rest is Up to You…
Michael Porfirio Mason
AKA The Peoples Champ
AKA GFK, Jr.
AKA The Sly, Slick and the Wicked
AKA The Voodoo Child
The Guide to Getting More out of Life
http://www.thegmanifesto.com
Michael Porfirio Mason
AKA The Peoples Champ
AKA GFK, Jr.
AKA The Sly, Slick and the Wicked
AKA The Voodoo Child
The Guide to Getting More out of Life
http://www.thegmanifesto.com
“Apart from the obvious financial distress that the current economic crisis has inflicted on most Americans, perhaps one of the more irksome byproducts of the meltdown has been the inescapability of clueless economic blather. It’s bad enough when so-called economists serve up the same Keynesian nonsense that has led us down the current cul-de-sac in the first place. At least those people have some incidental knowledge, however deeply flawed, of basic economic concepts. It’s far worse when political pundits, whose understanding of economics typically comes from Treasury Department talking points, hold forth as if they really know what is going on.
Last weekend I happened to watch the McLaughlin Group, a mainstay of Sunday morning political programs, which included a discussion that typified the lack of economic common sense that is so pervasive in our country. The program’s anchor John McLaughlin, undoubtedly an expert in political maneuvering and Washington horse-trading, offered viewers his assessment of the global economic landscape. McLaughlin identified China, Germany, and Japan as being prime offenders in the global economic meltdown. Their “offense” was that they ran persistent trade surpluses, had savings rates that were “far too high” and consumption rates that were “far too low”. McLaughlin identified these sins as responsible for the global economic imbalances. He urged the governments of those countries to adopt policies that would encourage their consumers to borrow and spend more. Exactly which school of economic thought informed his assessment is not entirely clear.
In the first place, if the creditor nations of the world actually follow Mr. McLaughlin’s advice and become borrowers themselves, from just where does Mr. McLaughlin believe the money will come? These countries already lend to America. Does he think that they also have enough leftover to lend to themselves? Does he believe that America, which is tens of trillions of dollars in debt, has enough excess savings to lend? Perhaps he’s eyeing the Martians’ accumulated savings? The point is: the entire world cannot borrow at the same time. Someone has to do the lending. The only reason Americans are able to borrow so much is that those “offending nations” are loaning us the money.
Mr. McLaughlin apparently believes that if those countries simply adopted policies to encourage more consumption, America would then be able to export more products. Just what American-made products does he expect the Chinese to buy? If China did spend more, which they ultimately will, they would simply buy more of their own products that they currently ship to us. After all, if Americans are not buying American-made products, why would the Chinese? In most cases, it’s not that consumers do not want to buy American products it’s just that there are so few American-made products that are competitive in the global marketplace.
JadaKiss “Can’t Stop Me” (OFFICIAL VIDEO) [HD]
One guest on the panel did try to correct Mr. McLaughlin by suggesting that Americans needed to save more and spend less, but he was quickly shot down. Why should we spend less, McLaughlin snapped, when they could shoulder some of the burden by spending more? The inference here is that we are doing our part by lugging home shopping carts full of consumer goods, while they are getting off easy by spending their days in muggy factories making the goods!
What he fails to understand is that nothing can be bought that is not first produced. We cannot all just decide to spend our troubles away. It is only because the “offending nations” are producing surplus goods (meaning more goods than they are themselves consuming) that those goods are available to Americans. In McLaughlin’s America, and indeed Obama’s, we would all be standing around empty shelves with wheelbarrows full of worthless cash.
If the creditor countries are indeed the offenders, it is only in the sense that they have enabled us to live beyond our means and have facilitated the growth of our phony economy. However if they do as Mr. McLaughlin suggests, the immediate impact on the American economy will be much different than what he expects: the dollar will collapse, both consumer prices and interest rates will rise sharply, and the current recession will deepen. Rather than holding us back, foreign creditors have actually been propping us up. As for Mr. McLaughlin, he should stick to his strong suit: the dissection of political posturing. To presume a level of economic understanding by listening to self-interested politicians and academics is to invite catastrophe.”
At this stage in The Game, the only worthwhile “product” that the USA exports these days is International Playboys on The Rise, like your humble author.
The Rest is Up to You…
Michael Porfirio Mason
AKA The Peoples Champ
AKA GFK, Jr.
AKA The Sly, Slick and the Wicked
AKA The Voodoo Child
The Guide to Getting More out of Life
http://www.thegmanifesto.com
Jadakiss – Cant Stop Me (Green Lantern Mix) (Kiss My Ass Mixtape)
