Tuesday, May 1, 2012

$$ Early Morning Post - Shame on You Journal, My Radio Show


The picture could change markedly by the market open, but I do this early morning Tuesday 5/1 post since I will be doing radio at 10 this morning.  Listen live at: http://www.live365.com/stations/wrcr?site=pro. This show that I am hosting at a terrestrial station closer to me pulls in top ratings in this locale, or bedroom community just 20 miles northwest of NYC. BUT, the A.M. dial venue is becoming less significant (unless you’re on a 50,000 watt stick in the middle of a big city). What we’re planning to do with these broadcasts is to repurpose the interviews into web content that can be accessed from pretty much anywhere at any time.

To digress briefly, on our recent trip to the mid south, I plugged my RAZR smartphone into the auxiliary jack of the car radio and used an app to wirelessly receive traffic reports on KYW (philly), WTOP (DC) and WBAL (Balto), etc an hour before the stations would have been heard on a conventional radio. Every radio station on this app is available via smartphone. Traditional radio is going to go the way of newspapers and watching tv using those once upon a time goofy looking roof antennas.

Back to Info About My Radio Show

Today’s interviews include Robert Higgens, the co president of Certified Assets Management International (CAMI). Bob is sponsoring this broadcast venture. He is a veteran of the coin industry. There will be much to talk about.

Maurice Rosen, the longtime editor of the Rosen Numismatic Advisory newsletter will also join the program. His views and analysis of the coin industry are sought after.

Onto the Markets.

The sell in May and go away meme will no doubt grace our tv sets and browers for some time to come. Getting things off to a sour start – China: While official manufacturing is portrayed as growing in China (at odds with HSBC’s report already showing contraction), the official numbers were still short of expectations and barely above the growth line.  As I write this, they are still in REM sleep in Europe, so whatever happens there later in the morning will either enhance investor disappointment over the China data, or could serve to offset some of the Tuesday gloom that could come due to China.  Yesterday’s low volume standoff between the bulls and the bears resulted in a 14 point Dow decline – like watching cement cure.  

Miserable Monster

The takeover rumors spread by the Wall Street Journal and its media friends, family and even competitors about Coke buying Monster are a disgusting example of poor sourcing and reporting. Monster shot up from the mid 60’s into the low 80’s when the Journal report crossed the wires. I can just imagine the screaming hissy fit mode that the Fox Business newsroom must have gone into on word of the big scoop from sister publication WSJ. Blech. Who on the street bought in the 80’s when the stock spiked? Is the Wall Street Journal going to become the next Times of London (they are under the same troubled Rupert Murdoch wing) and earn a reputation for calling 7 of the last 3 takeovers? It was gratifying to see Coke quickly deny any buyout interest in Monster. Monster shares then returned to the mid 60’s. The in your face denial of the erroneous report by Coke (where most companies choose to say they don’t comment on rumors and speculation) makes me wonder if anyone at the Journal bothered to call Coca Cola in Atlanta BEFOREHAND. Yes, there is this technology called a telephone.  Doh!


GOLD and Silver

Gold was down to the 1640s area for a time yesterday, but bounced back to 1665 by the NY close on Monday. That helped to limit gold’s monthly loss in April to just a half-percent. Silver was down 4.5 percent in April (ouch). I did discuss some of the factors at work in relation to silver vs gold in yesterday’s report.
More later!

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