Month: June 2006

Relief Rally on Fed News – But…

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The Cubes (NASDAQ: QQQQ): 3:45 AM NYC time, June 30th: Just a quick post to note Thursday’s huge relief rally after Tuesday’s shakeout and Wednesday’s intraday reversal to the upside. The Cubes were finally able to close above the 20-day EMA, after almost two months of trying and failing to do so. The 3% rally was the biggest since…

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Cubes Update – Rally Failure

Qqqq2006627
The Cubes (Nasdaq: QQQQ): June 28th at 2:17 AM NYC time: Ever since the clearly telegraphed May top and breaking below all the major moving averages (point 1 on the chart) the Cubes have not even been able to muster a close above the 20-day EMA (points 2 and 3), let alone the 50- or 200-day EMAs. Tuesday’s near 2% down day on increased volume and close below 2-week trading range suggest that…

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Paulson on the Dollar

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At his confirmation hearing, Treasury Secretary nominee Henry Paulson, Goldman Sachs’ chairman, told senators that he’ll focus on improving U.S.’ “competitive position” in trade. Cubetrader.com translation: Hank likes a weak dollar strategy.

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Article: The Road From K Street to Yusufiya

America (and the world) cannot begin to recover from the damage caused by the Bush administration until it stares the corruption, and itself, in the eye.

From the June 25th NYT:
The Road From K Street to Yusufiya
By FRANK RICH

AS the remains of two slaughtered American soldiers, Pfc. Thomas L. Tucker and Pfc. Kristian Menchaca, were discovered near Yusufiya, Iraq, on Tuesday, a former White House official named David Safavian was convicted in Washington on four charges of lying and obstruction of justice. The three men had something in common: all had enlisted in government service in a time of war. The similarities end there. The difference between Mr. Safavian’s kind of public service and that of the soldiers says everything about the disconnect between the government that has sabotaged this war and the brave men and women who have volunteered in good faith to fight it.

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Article: The Road From K Street to Yusufiya

Normally I’d only post an article like this on my political blog, but this one belongs here because it is so important. America (and the world) cannot begin to recover from the damage caused by the Bush administration until it stares the corruption, and itself, in the eye.

From the June 25th NYT:
The Road From K Street to Yusufiya
By FRANK RICH

AS the remains of two slaughtered American soldiers, Pfc. Thomas L. Tucker and Pfc. Kristian Menchaca, were discovered near Yusufiya, Iraq, on Tuesday, a former White House official named David Safavian was convicted in Washington on four charges of lying and obstruction of justice. The three men had something in common: all had enlisted in government service in a time of war. The similarities end there. The difference between Mr. Safavian’s kind of public service and that of the soldiers says everything about the disconnect between the government that has sabotaged this war and the brave men and women who have volunteered in good faith to fight it.

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America’s Debt: The biggest A.R.M. in the world

From the June 11th NYT Magazine (cover story):

CHAPTER 1: THE NATION; Reasons To Worry
By NIALL FERGUSON (NYT) 3026 words
Published: June 11, 2006

Think of the economy of the United States as a dinosaur — one of those huge herbivores whose bulk shook the ground. A brachiosaur. A brontosaur. A diplodocus. Like them, the U.S. economy is mind-bogglingly enormous — two and a half times as big as the next largest economy in the world and almost as large as that of the six other members of the Group of Seven combined. The catch is that it has to consume almost incessantly to sustain its great heft.

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