2. Fed Minutes- Many officials mull taper as soon as June Read here

Bad:

Hey, how’s your day? Mine? Better…but started off bad. Finally, just got to my office and decided I could send a message to my fellow parents.  

 

As I was getting out of the shower this morning, my dogs were barking like crazy. I went to the front door and saw my neighbor. Upon opening the door, I was told my son had a car accident on I-4. My wife had called my neighbor because she could not reach me. She had already been driving my niece to school when she was called about the accident. By then, she was hauling ass to the accident scene.

 

It took me a while to reach my son as traffic, as usual, was backed up. I was told he was ok but as a parent, until I saw him… 

 

As I took my first pass, I saw the car was crushed. The front was toast and pushed back into the car itself. I saw the airbag deployed. The airbag, without a doubt, saved my son from serious injury .My only thought

…how did my son get out with just some bumps, bruises and cuts? The good news was that yes, he was banged up but he was ok.

 

My son was not on the phone. My son was not texting. But in high traffic conditions, there is a lot of stopping short. This is what caused the accident. So for you parents, memo from Gary.

 

Teach your kids to stay away from traffic, stay away from cars, keep a more-than-safe distance from the cars in front of you, in back of you, to the side of you. Nothing good happens by being too close. On top of that, rip them a new one if you know they are texting and driving. Too often, I come in contact with people that are reading, texting, putting on make-up and overall, not paying attention to the job at hand…and that is driving a moving vehicle. I once saw a man shaving while driving. I once saw someone watching a tv that was in the dashboard.

 

As a parent, I can only tell you how sick I was this morning driving to the scene of the accident. If you are like me, my family is everything to me. Fortunately, everything turned out ok. My son was shaken up and feeling guilty but I let him know the only thing that mattered was that everyone was ok. I couldn’t care less about the car damage. A totaled car is never a big deal. But please sit down with your kids and let them know a car can be a weapon if not treated correctly. We have all read too many stories to know how true this is. Have a great holiday weekend and remember why we celebrate Memorial Day.

 

 

As you know, we have been writing sparingly because simply put, what has been there to wrote about. The market has continued up in a steady stream of printed money, easy money and everything that goes along with that. But a few things happened in the past couple of weeks:

 

Froth has really picked up. We have been noticing companies with big losses and little or no sales…moving up to 100% in days.

 

Bearish strategists have come out of the woodwork…turning bullish.

 

Tons of IPOs and secondaries have been proposed or issued.

 

On top of this, we have told you of the bond bubble that the Fed has caused as junk bond yields have fallen to record lows.

 

Lastly, and most importantly, on a technical basis, markets have become stretched and extended beyond the norm…and we mean beyond the norm. Just go look at the NIKKEI vs. the Yen. They really think they can crush their own currency and in the long term, that will make things all better. 

 

This leads us into yesterday. A huge, high volume, turnaround day occurred from these conditions, potentially indicating buyers have been washed out and sellers got the upper hand. We know Mr. Bubble is out there. We know he can just double up the double up of printed money. We know he has targeted asset prices. We know. We are just here to tell you, in the near term, we think this latest move may have run its course. Time will tell.