Woodstock for Capitalists

"100% I did. 90% I will. 80% I can. 70% I think I can. 60% I might. 50% I think I might. 40% What is it? 30% I wish I could. 20% I don't know how. 10% I can't. 0% I won't." - Ladder of Achievement

Saturday is Buffett's annual "Woodstock for Capitalist" stockholders meeting. A sure topic of conversation will be the bets Buffet has made on GS in loaning them 5 billion, making huge money, and whether GS redeems the preferred stock, or Buffet owns 8% of the preferred stock of the company. What Buffet says about the economy could resonate in our review of it for several weeks.

Last week was the 8th straight equities advance in 8 weeks, the longest winning streak in six years.
Analysis of the GDP comes out today; analysts see 3.9%

Study: Don't worry about downward Dow -- yet

Traders that held our June 550 Call, and had only sold partials yesterday, were able to profit to 7.30 and we now consider this position closed profitably.
With futures up no traders should have taken entry to the put, and we open the day with no new signal

By 3.30 p.m. the Dow had hit 11,237, continuing the upside run. It's not over.
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I had a subscriber cancel recently who commented on being a proud member of "The Tea Party." What I want to know is: What is the Tea Party? What do they believe in?

This guy went off on the Follow the Constitution crap (which we have not followed for over 70 years), and lower taxes, and don't bail anyone out. Classic babble.

Every Tea Party member I meet I say "great, we'll cancel your social security, as you don't believe in it, and we'll cancel your medicare, as they are not in the Constitution.

Many of those that signed our Constitution, which we immortalize, were in fact Wall Street type crooks themselves.

FALSE FACTS BEGET FALSE FACTS.

OBAMA IS NOT A SOCIALIST.

Goldman Sachs did exactly what they were supposed to do for their clients, much as I hate to say it.

And, there can be little argument that our economy has returned from the brink of disaster. No "free enterprise" could have done this.