Weekend Reading Highlights

As a rule, I don’t post weekend reading that I think is just interesting but only stuff that I think can make you money or save you money or stimulate you to do one or the other.  But the first article I posted was so well written, I had to share it.

On the Floor Laughing: Traders Are Having a New Kind of Fun from Atlantic Monthly
MAY 9 2011, 1:41 PM ET34
The modern trader is playing the most sophisticated, dynamic, immersive game in the world. Here’s how it works — and why your job might be the next to turn into a massively multiplayer experience.  My own desktop has more screen space but less phones thank God.

Technorati-  I’ve spent way too much time trying to figure out how to include the widely read Sax Angle into their list of blogs.  I’d rather be reading about their top 100 blogs than trying to get into the damn list.  They told me to insert this stupid claim # into a post   AX8G3BTY564B .  I’m keeping my fingers crossed.  If anyone can help me with this, I’d sure appreciate it.  I’ll buy you a Starbucks.  This is a great source to find leading blogs in a number of subject matters.  So far  I like the tech ones like Tech Crunch, SAI

WSJ More Pessimism from the WSJ.  No May Flowers for Stocks.   Does anyone else think that the Wall Street Journal has become more pessimistic, more conservative, more controversial, more headline sensational – yellow journalistic since Murdoch bought the paper?  I guess that should come as no surprise.

David Einhorn’s $200 million agreement with the New York Mets to buy a minority stake in the team is essentially a loan that, after three years, could allow the hedge-fund titan to acquire a controlling interest in the team, a person involved with the sales process said.  Does anyone really care outside of NY?  The Mets?  Come on guys.  The moral of the story, look for ideas that will make you money. This one won’t unless you too can structure a vulture deal with someone who could go to jail.  Keep reading and probing for money making ideas.  I think I’ll listen to some conference calls or struggle through a 10K  since I’m coming up short reading the rags.

NYT Why are Investors Still Lining up for Bonds? This is the most perplexing question I’ve encountered in the market.  Unfortunately this well written piece by Jeff Sommer does little to answer the question. If you can answer this conundrum, you are well on your way to making some money.  I obviously haven’t has my small short and long positions in TBT, TYO , TMV – all bets that rise will rise-have  been losing trades for the month of May.  Anyone figure this out, please contact me.

CNN Wary Investors Shift to focus to Jobs NEW YORK (CNNMoney) –The economy and jobs will be front and center this week — whether investors like it or not.   Yes, indeed this is what you will hear all week.  The expectations have been muted in recent weeks.   Unless the numbers showing the economy falling off a cliff, this will most likely be a yawner.  The market is trending up from oversold conditions.  The S&P probably doesn’t have the momentum to climb over recent resistance of 1342 if I had to hazard a guess.  That doesn’t mean there aren’t some interesting stock ideas.  The market will be genuflecting about jobs.  Use the volatility to pick up or lighten up.

Main Street Utah: The Most Stressed State NEW YORK (MainStreet) — Despite the plethora of outdoor activities and untouched nature that Utah offers its residents, a recent Gallup study found that they were the most likely to say they were stressed. Predictably, Hawaiians came in with the lowest stress levels.  Too much clean living will do this to you every time! Believe me there is nothing more important while trading than to control your emotions and dealing with stress is a big part of it.

Barron’s Where Top Hedge Funds Are Putting Their Money Details from the Ira Sohn Conference.Big-name investors like David Einhorn, Bill Ackman and Carl Icahn took the stage to offer a slew of recommendations at the annual Sohn investment conference in New York Wednesday. But the biggest market move came from a plug for an education company from an Indiana University student who won the right to present his idea in a stock-picking contest sponsored by the Sohn Foundation.

Market Watch HONG KONG (MarketWatch) — A sharp rise in domestic government spending by Saudi Arabia and other key Arab oil exporters threatens to upset the mutually beneficial relationship they’ve kept for decades with energy consumers worldwide http://www.marketwatch.com/story/arab-oil-faces-higher-break-even-price-2011-05-29