The Kirk Report

The Fed's Printing Press Posted: 19 Mar 2009 12:30 PM PDT Rambo Fed! Fed's bond buying binge benefits funds that invest in mortgage related debt Operation Twist! Mortgage rates may fall to 4.5% The Fed buys time for $300 Billion Here is Ben Bernanke's problem Don't fight the Fed! Too big to fail must end! Another bubble? "A government big enough to give you everything you want is strong enough to take everything you have." - Thomas Jefferson The Reflation Trade gets real AIG firestorm raises alarm for other firms Obama's $100,000 AIG Bonus Obama seeks new powers Did you know that 13 firms receiving federal bailout owe back taxes? We need Wall Street Insurance! Tempers flare as IASB looks to change fair-value rules U.S. economy shows signs of crawling out of hole First a rally, then hyperinflation? American's families cut back a little more Photos from the recession Visual guides to the financial crisis The biggest bankruptcy in history might have been avoided if Wall Street had been prevented from practicing one of its darkest arts Financial crisis most wanted playing cards Who's to blame? Look in the mirror That didn't take long - fund managers are now the most optimistic in three years Market rally just misguided optimism All eyes on the S&P's 50 day moving average All we have to fear is the lack of fear itself? Have you look at the CBOE Equity Put/Call Ratio this week? A quick sentiment shift! The Geithner Gone Indicator (another sentiment tell?) A more bullish technical picture emerges The psychology of young uptrends Rally through summer? Sector performance since March 9th A 20% rally in under two weeks Stock values reasonable; not historically cheap The current market is an extraordinary buying opportunity! Stock market gurus tend to anchor on bullish or bearish positions, regardless of actual market trends The prime of Mr. Roubini Making stock market forecasts are fun Suppress that urge to call the bottom Legendary Greenbrier resort files for bankruptcy after failing to attract deep-pocketed guests "For a nation to try to tax itself into prosperity is like a man standing in a bucket trying to lift himself up by the handle." - Winston Churchill Dollar rally crumbles as Fed ramps up printing press Dollar watch! Picking a currency has truly become an ugly contest The return of the Yen Carry Trade? Food prices continue to deflate What's down with commercial real estate ETFs? Want to buy a condo? You have lots of options Oil ETF's & the return of $50 oil Have we already seen peak oil? Obama's climate plan could cost $2 trillion China's economy is showing early signs of stabilizing Faber says buy China & emerging markets Paulson buys $1.28 billion stake in AngloGold Ashanti Silver chat rooms are ablaze with talk of a short squeeze Get ready for more tech takeovers? A renaissance for big acquisitions Healthcare offers valuation anomalies? Guy Adami's bank survivors Everyone at AIG knows that it will file for bankruptcy in the next 2-3 months after they sell off their subsidiaries Massive short squeeze at Citi snags a few hedgies GE now expects GE Capital Finance to be profitable in Q1 General Motors checkmates Obama in two moves Toll CEO unloads even more stock Chrysler sees no recovery signs yet An end to Sirius stock manipulation may be in sight Hype for Northern Dynasty Minerals Another play on infrastructure - Powell Industries Dividend Aristocrats keep raising their dividends A plethora of oil and natural gas stocks in StockScouter Nicholas Darvas type stocks The 20 strongest annuity insurers Q1 Earnings: winners and losers Stock screening trouble Using R-Squared Growth Rate Using direction to fine tune your indicators What is the Cradle Trade? Investing demons! Why money messes with your mind One of the best Fibonacci Calculators I've seen Short interest charts Testing the 2-day RSI signals Indicators for trading in Government Bond ETFs Trading volume in VXX continues to grow Charting the closely-watched XLF Watch for early signs of recovery from the metal ETFs Are tracking errors for leveraged ETFs a big problem? Consider if you had a simple two-ETF portfolio Your ETF tax questions answered Have you used the search engine at ETF Desk? Every buy and holder, even including David Swensen, is under fire Does the Morningstar mutual fund rating system work? Following the typical retirement-planning advice could be a money-losing proposition Americans are moving on up to smaller, smarter homes Mortgage fraud soars! I will do one thing today to-do list Grow your 30 second muscle Searching for more news? Try Newssift Do you speed read like me? If not, try out Eyercize Do you live in a happy state? "One often meets his destiny on the road he takes to avoid it." - Oogway, Kung Fu Panda This posting includes an audio/video/photo media file: Download Now

Bond Buying Binge Posted: 19 Mar 2009 05:57 AM PDT Good morning. Premarket futures have a positive bias following slightly lower than expected jobless claims (last week's was revised higher) and earnings reports from Oracle, Nike, & FedEx. In other headlines, Citigroup plans a reverse stock split while spending $10 million for new offices, AIG's CEO asks employees to repay half of their bonus cash, and Fannie Mae is due to pay retention bonuses to some executives. In response to these headlines, Congress is working on a bill to tax bonuses made by firms receiving over $5 billion in federal aid. Premarket gainers: FNM, FRE, AIG, ABK, PMI, DRYS, CNO, PUK, AGM, ORCL, ING, LYG, C, GNK, BZH, LEA, WBS, UIS, ETFC, BAC, CS, BRCD, ORLY, FEED, HBAN, FITB, SAP, FCX, MTXX, SSRI, GOLD, AAUK, & RBS. Premarket losers: NCS, ESLR, ZEUS, SFG, PRGN, SOHU, DENN, MLHR, ARE, DDR, NKE, AZN, MRO, CROX, TWP, PRGS, EWBC, TRN, YRCW, AGO, CYBX, & HBI. At 10:AM we have Leading Indicators and the Philadelphia Fed Survey. Thirty minutes later the Fed's Daniel Tarullo testifies on bank supervision. The market will no doubt continue to look for consequences to the Fed's bond-buying binge including the impact to the U.S. dollar. It will be interesting to see if predictions from a think tank in Asia receives much attention today. Obviously, we're up against resistance in overbought conditions and traders will be watching for a breakout above yesterday's intraday highs at S&P 803 and whatever new headlines come our way throughout the session. Remember, options expiration is tomorrow. Have a terrific Thursday!

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