charts

[hardnox604008]

It has been pretty hard for an old TA chartist to give up on the notion that market performance contains important information. In this phny baloney risk on, risk off world I don't think so.

If the eurocrats come out of their burrows on Friday and announce that they've saved the world, risk will roar back and snap the neck of anybody who is short. As the obvious reality sinks in, risk will sag back and maybe dump hard for a while until somebody else saves the world for that week. Grains are attached to this trade with the secondary input of weather and other funnys.

But here are some interesting charts-

Of the big banks, JPM Chase reported good earnings although most of the increase is from taking previous loan loss reserves back to the bottom line. Still not so hot.

http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=jpm&insttype=&freq=&show=

The other end of the big bank spectrum- Bank of America is a disaster and will have to go out looking for more capital soon.

http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=bac&insttype=&freq=1&show=&time=8

The really interesting one is Citi- which you will recall had a 10:1 reverse split recently so would a $3.75 item.

http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=c&insttype=&freq=1&show=&time=8&x=49...

I guess the think that stuck out to me on C is the head and multiple shoulders below that peak. I made note not to forget when an old stock chartist showed that pattern unfolding on Enron and Wordcom and called it a "bankruptcy chart."

So anyway, I'm thinking that Rome is burning even though everyone is being lured over to the Coliseum for bread circuses and other diversions.

As to what that means for the ags, sorry, I really don't know. If you believe that such matters can only be met with more mad liquidity pushing, interventiosn and obfuscations- therefore pushing risk-on,-I'm not going to go to the mat with you 'cause you may be right.

But remember, Rome is burning.

[timetippingpt]

As to your tagline hardbody, I assume you are referring to corn yields on the 60% of the belt with virtually no July rainfall?

AHPS maps say we have had over a half inch, actual is just at 2 tenths. Many in eastern Indiana have almost zero since planting June 5th. Not the Rx for average yields.

Just thought tying your tagline into current events was entertaining.

[hardnox604008]

We've had a bit more at the farm than that but could certainly use a rain.

Drove through some really ugly stuff in EC part of state last week- late planted and bone dry.

I probably need to get out more- missed last year's crop estimate pretty wide but not entirely a matter of not doing enough scouting- more a philosophical fail in looking at the absence of a major problem area.

On the matter we were discuaaing last week- one consideration I hadn't really thought about was the likelihood that under the Indiana farmland property tax formula taxes look like they could rise a whole lot over 10 years which tends to make things look a little interesting.

I'll get back to you.

[kraft-t]

When the Illinois guys get to hyperventilating about a poor crop, that is the time to step up sales. Hah!

[idalivered]

I was just thinking the same thing. I 'spose you're remembering 2005 and the "this crop is toast" comments. there was more to this, but I thought better of it and deleted. hope you're staying cool. Been as hot as I can remember in iowa. most of the state tasseled this last week. beans improving with very feww aphids, yet...

[Artifice]

C is bankrupt--- BAC close,

the Grimm reaper is moral and dies good work.

JPM is massive and buler chip and will continue.

Some OWN equities, OWN them for the long term +.

Many stks are hitting record highs and have new highs in profits.

GCbuggerish-wrong again and again.

[hardnox604008]

C is most certainly bankrupt if assets were marked to market. But of course they don't have to be.

Bad looking chart, not sure what it is saying but it isn't good.

[timetippingpt]

Hardbody...that was one topic we wanted to review with you for full disclosure. P taxes are going up alot in IN and I don't the grand old FB can do much about it. Not sure that they shouldn't go up if we want good schools.

Also, our tax guys are VERY reluctant to try and right off the rent at one time, so this reduces the tax benefit to the tenant. All things that can be managed to everyone's best interest however.