Mr. Sensitive

August 24, 2012

FSX Friday Update

Filed under: Uncategorized — lbej @ 17:07

I’ve been saying that the market doesn’t care about the 2012 elections, because it doesn’t.  Yet perhaps you are wondering if that’s truly the case, if you’ve been reading about the aggressively Republican turn Wall Street fundraising has taken during this election cycle.  That’s not surprising; the banks made huge profits during the deregulated wild-west Bush years, then they got bailed out, now they want to do it all over again.  Obama hasn’t exactly cracked down on Goldman Sachs, Morgan Stanley, JP Morgan and the like, but he might.  Romney absolutely won’t.  So the big money cares; the big money wants to take big risk and get a tiny tax bill.  The desk runners care; the traders care; the hedgies care.  It’s the market that doesn’t care.  Do you think that any of the Wall Street folks who are pumping money into Romney’s Super PACs are willing to sit out a market rally to make a political statement?  They aren’t; that’s why they’re rich.  They don’t do things that are obviously contrary to their economic self-interest.  They don’t even care whether or not they care.

Neither major party will change the course of monetary, fiscal or trade policy significantly; most of their handlers don’t want them to, and the ones that do won’t find enough support to make a course correction.  On a macro level—what gets discounted back to, say, an S&P 500 index—this election doesn’t matter.  Period.

The market rallied on Friday, wiping out about half of the week’s earlier losses to preserve this Olympic summer’s spirit of lethargic irrelevancy (irrelevance?).  This was the takeaway from Reuters:

Stocks gained on Friday on news the European Central Bank is considering setting targets in a new bond-buying program that could help contain euro-zone borrowing costs and on hopes of more stimulus from the Federal Reserve.

Did you stop reading after ‘European Central Bank’?  I bet you did.  Maybe you checked the end of the sentence, saw ‘Federal Reserve,’ and felt even better about your decision.  What if it said this instead?

Stocks gained on Friday on news the European Central Bank is considering substituting strawberry jam for the customary apple jam served with morning coffee and bagels, despite the fact that donuts are still preferred by the Federal Reserve.

Would anyone notice?  Probably not.

The broader market finished down half-a-percent or so,but the Family Stock Index was not so fortunate.  After threatening to break out last week, the FSX gave back 1.2% this week to settle at 12,465.  While the Dow was rallying by triple digits today, we were up…3 points.  Sigh.


  • Zondro (ZQK) +4.1%.  It may be that nothing in the world inclines me more toward violence than the ultra-high-pitched whine Zondro makes when he wants something.  The others hear it sometimes; I always hear it.  When I’m in my office working, I can hear that dog whining on the porch.  He really shouldn’t do that; it’s counterproductive.  His whining at the perfect matador’s-cape frequency doesn’t prompt me to let him in—I refuse to reward the whine.  It does make me want to buy a BB-gun to shoot him with, and in fact I would have probably already done so if I ever left the house.  Zondro is saying, I believe, ‘Hey man, it’s hot (or cold, or wet, or boring) out here, how’s about letting me in early?’  But look at Wilson, chilling down by the pond or asleep under the playset; he’s not suffering.  Hell, if I spent twenty minutes pacing around in the sun on the deck, whimpering and panting, I wouldn’t be happy either.  So today I put a gate up at the bottom of the stairs leading from the deck to the yard.  That means no more pacing around the deck and no more devil noises (that I can hear).  That’s positive for all involved.
  • Reagan (REGN) +5.1%.  Hooray for school!  I’ll even break out an exclamation point for it.  It’s about time, too; another week and Reagan would have been banished to the back yard with the dogs.


  • Katie (CATY) -3.0%.  Katie reports that mighty Brink is now too mighty to be lugged around in his Ergo carrier.   At Jenny’s open house this week she claims she broke her butt and her back.
  • Brinkley (BCO) -3.0%.  Now a convicted butt and back breaker.  That’s the kind of thing that can follow you around in life.
  • Marcus (MCS) -4.2%.  Italy’s nice to visit, I’m sure, but Marcus wouldn’t want to live there.  Or maybe he would.
  • Ruby (RJET) -7.4%.  Jenny insists that Boo-boo was down this week because she (Jenny) has a new favorite store to shop for clothes, and Boo-boo doesn’t know what it is.  That’s ridiculous, of course, but here I am typing it out nonetheless.  Jenny can have a strong influence on the weak-minded.


Name Ticker 8/24/2012 Change
Brinkley BCO $22.65 -0.71
Charlotte ICE $137.10 +1.76
Dustin DST $51.25 +0.01
Icarus ICS $16.23 -0.10
Jenny JNY $11.93 -0.22
Jodi Ann JOY $55.59 -0.31
Justin SCI $12.94 -0.06
Katie CATY $16.16 -0.51
Lee MSTR $124.58 -2.23
Lisa LNCE $23.37 +0.33
Lucas LEI $1.79 -0.07
Lulu LULU $63.87 +0.68
Marcus MCS $12.88 -0.56
Mario T.E. MGEE $50.13 -0.69
Mario T.Y. WMAR $10.05 -0.10
Marisa MOLX $27.14 -0.25
Namilita NL $12.18 -0.27
Nicole E. NICE $31.06 -0.47
Nicole M. COLM $50.61 -0.07
Reagan REGN $145.09 +7.03
Ruby RJET $4.61 -0.37
Wilson WILC $4.01 -0.17
Winston ED $61.42 -0.26
Zero ZIP $7.63 -0.37
Zondro ZQK $3.04 +0.12

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