Quotable Quotes and Notable Notes From The Week That Was

Given the Holiday rush and preparing the house for visitors, we will keep this relatively brief this week. But there were plenty of news items which prompted some interesting quotes. So here goes.

“The Santa Claus Rally appears to have been hijacked by some ‘Occupy the North Pole’ protesters.” --financial blogger

“The best thing about the FED announcement was that it came out three minutes early.” --floor trader on the disappointment over what most thought was the expected FOMC statement this week

“These are the most illiquid Holiday markets we have seen in recent memory, setting up the likelihood of low volume major swings in either direction.” --State Street analyst on Bloomberg radio

“The Eurozone is like the Hotel California…you can check out any time you like but you can never leave.” --a quote which originated with a UBS report in September that many analysts have quoted recently in debating whether or not some nations such as Greece should indeed exit the Euro

“We are still not seeing the independent contractor trucks lined up early in the morning like we used to.” --Home Depot founders in a CNBC interview, referring to the housing crisis, the slowdown in new construction and tight budgets for major home renovation projects

“New MLB deal: more replay, no corporate tattoos.” --CBS News on the details of the new Major League Baseball labor contract which proposes use of more instant replay for umpiring calls and a ban on players having ‘any visible commercial markings or logos tattooed on their bodies’.

“He (Bernanke) has no intentions of furthering U.S. involvement in the crisis." --Senators Hatch, Graham and Corker after a closed door Republican meeting with Ben Bernanke, although they characterized him as “very concerned” over European issues and “how detrimental a collapse over there could be to the U.S. recovery”.

“I’m the captain on a ship going through really bad storms. … No matter how well we’re steering the ship, if the boat’s rocking back and forth people are getting sick….and I don’t control the weather.” --excerpts from Pres. Obama’s 60 Minutes interview last Sunday, which has provided much fodder for opponents, not the least of which is in the context of his oft-discussed Hawaiian Christmas vacation…it is unclear whether this might be delayed over the payroll tax issue or not, but pundits have sarcastically wished that he does not see stormy weather which would interfere with his golf game and beach time while on vacation.

One satirical site said, “Year after year, President Obama understands that a Hawaii vacation is out of reach for most Americans. Which is why in a spirit of openness and transparency, the White House has decided to share his annual Hawaii vacation experience with the American People. The President's 2011 Hawaii vacation will officially begin the moment he steps onboard Air Force One. He immediately heads back to his personal office, sheds his "President's clothes" and gets into the Aloha Spirit. He usually enjoys watching several old episodes of the original Hawaii 5-O show while sipping a mai tai and enjoying a shaved ice on his way over.”

“We must above all keep to these rules in future and that won't always be very easy…we must then take care of growth, in that we generate growth again, invest in the future and as far as possible and not on credit, of course ‘ ‘--Angela Merkel in her radio broadcast this weekend referring to moving the new agreements along and looking to the future

“Zynga’s IPO: Pomp and a Slump” --New York Times, commenting on game maker Zynga’s IPO, with the share price breaking the IPO offering price of $10 and finishing the week at $9.50, down 5%. According to Renaissance Capital, of 42 tech companies going public this year, the average 1st day increase was +20.4%, but the entire group has struggled with shares now down 15% on average.

“It’s been insane. I’ve written more orders in the past two days that I have all month.” --gold bullion dealer commenting on the rush to buy gold at ‘bargain prices’ after the 7% decline in price this week.

“When a monkey climbs higher on the pole, his backside becomes more exposed.” --Democratic strategist on the rapid rise of Newt Gingrich’s nomination prospects and the ‘baggage’ he carries.

“If Mitt Romney returns all the money he made by bankrupting companies and laying off their employees, I will listen to him (about critical comments on my consulting work)...but I will bet him $10 he won’t, not $10,000.” --Newt Gingrich in a war of words with Romney

“Luxury chain Neiman Marcus has sold out of the ten 2012 Ferrari sports cars it offered in its Christmas book of fantasy gifts for $395,000 each.” --Reuters, in commenting on the very different Christmas prospects of the one percenters and pointing out how Manhattan’s elite luxury shops are doing a gangbuster trade...other media sources were suggesting wealthy Europeans were tripping all over each other last week to complete their Christmas shopping in New York before the Euro drops further.

“There’s this contagion of protest. I think it is changing the world for the better.” --Time Magazine editor Rick Stengel in announcing “The Protestor” as Time’s Person of the Year.

And we will end with a story in the spirit of the season and a quote reflecting “goodwill toward men.” The hot sports media sensation, Denver Bronco QB Tim Tebow, was asked in an interview how he responds to taunting, headhunting, and generally physical play by opposing defenses…He said, “I’ll just generally say ‘God Bless You’ and if I really get angry will throw in a ‘Jesus Loves You’ “.

(Oops, guess that was not so brief, have a great week and Holiday Season!)

Good Trading!
David W. (aka The Underground Trader)
Manager The FlashTrading Service

 

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