Thursday, January 20, 2011

Random info

* The Philly Fed data came in a little light but the story continues to be rampaging wholesale prices. The prices paid index jumped to it's highest level since 2008. As costs continue to rise and companies have limited pricing power we could see margin pressure throughout 2011.

* Corn prices have spiked to 30 month highs and beef prices have followed hitting multi-year highs. Remember there is no inflation when you're paying higher prices for gas, groceries and everything else.

* A pretty significant strategist called for market top earlier this week and so far he looks to be right on. I think it's still remarkably hard to fight the Fed's intentions, but the momentum traders are getting spooked (take a look at F5 Networks symbol FFIV today - Yikes!).

* Way more information about lake effect snow than you'll ever need.

World-record point snowfalls from the Great Lakes region include:
12.0” in 1 hour at Copenhagen, New York on Dec. 2, 1966
17.5” in 2 hours at Oswego, NY on Jan. 26, 1972 (My grandfather still talks about this storm)
22.0” in 3 hours at Valparaiso, Indiana on Dec. 18, 1981
51.0” in 16 hours at Benetts Bridge, New York on Jan. 17-18, 1959

and the granddaddy of all snowfalls: the 77.0” in 24 hours reported in Montague Township on the Tug Hill Plateau of New York on Jan. 11-12, 1997.

* Latest scam coming to a phone or email address near you -- Wikileaks threats.

"A caller reported she received an automated phone call telling her that her computer and IP address had been noted as having visited the Wikileaks site, and that there were grave consequences for this, including a $250,000 or $25,000 fine, perhaps imprisonment. It left an option for leaving a message as to how she was going to handle this and the fine payment. She figured it was a scam, and did nothing but hang up. It gave a number on caller ID of 852-604-4799."

* This seems to make perfect sense - Tennessee will pay for gastric bypass but not for dietary consulting to help people eat better. Facepalm.....

Cheers!

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