Posts tagged Midnight Report
2/16/10 Midnight Report: Commodities rise as NBC giving out medals to anyone who will watch the Winter Olympics
Money McBags is on the road this week like Jack Kerouac (though without the gay sex, pot smoking, acid dropping, and melodious run on sentences). As a result of Money McBags’ travels, daily updates may be shorter and sparser than Vern Troyer at a Mensa convention or blow jobs to a married man as the years go by. That said, the markets are still open and even though this is a short week (and Money McBags poured some out yesterday for all the dead presidents, except for Andrew Johnson, he can eat a shit sandwich with an extra helping of “fuck you”), we still need to make profits, so while the updates may be more sporadic than a bulimic’s bowel movements, they will be here, so continue to check in during the day for updates. And if any of you have any ideas you’d like Money McBags to analyze, put them in the comments section and they will be tended to with the utmost care and proficiency.
As for the markets, the US was off on Monday but the rest of the world was open for business and markets were largely up led by commodities and Asia which has been rallying like Burt Reynolds in the 1980s (you know, when he was banging a still hot Loni Anderson and drawing the fuck out of some charades on Win, Lose or Draw). Asia was up for the 5th time in 6 days likely causing Jim Chanos’ erection to point due North as he can now short China at higher prices. Australian companies continued to put up good earnings as their second biggest lender, Westpac (unrelated to their second biggest rear ender, Fudgepac), saw a drop in defaults while profits rose by 33%. Australia’s economy continues to be healthier than an organic sprout sandwich with a side of extra bland at a Whole Foods or Carmen Kinsley’s ample backside.
And speaking of Whole Foods, they report today and the big question is what their organic growth will be like (bad and easy pun completely intended). Money McBags loves him some quality ingredients, but do people really need to pay a 50% premium for organic green beans? More to the point could those people even tell you what the difference between organic and regular food is other than Oprah said it’s better? Money McBags is willing to bet his high functioning sigmoid colon that the average WFMI shopper couldn’t tell you the difference between Carrot Top and a carrot top (the key difference being a carrot top is green, and funnier) and remains largely skeptical of most things organic, wondering how long WFMI can ride this trend especially as unemployment stays high and people get poor. That said, Money McBags would not be surprised by WFMI putting up a Kashi-tastic quarter even with reduced traffic due to all of the Prius recalls because the organic trend is still stronger than Tom Arnold’s breath after he went down on Roseanne in the late 1980s to get his career started or Money McBags’ feelings for that Heidi Montag train wreck’s new boobs. That said, unless WFMI raises estimates for 2010 to $1.70, Money McBags is going to stay away because there is no need for this company to trade at greater than 18x.