April 19, 2012 7/8, 11/12, 3/4

BAGAKOAA; 19 April 2012 7/8, 11/12, 3/4

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April/2012

If that looks like dresses sizes that Oprah has worn in the last ten years, you would be wrong. Those were the times of Devin's medication parties last night. She got on a weird schedules of doses of pain killers but they were not on the hour together. She had to take one regimen at 7PM and another at 8PM. Then I set my iPhone alarms at 11/12PM, 3/4PM. She got her drugs. By morning, she was almost resting comfortably, but I had to get Jack to school and then I had to go to work for a teleconference call that was to run a couple hours.

Fortunately, daughter was able to head over and watch Devin hobble around the master bedroom. By early afternoon, I headed home to spell Kristin. Devin was now staying ahead of the pain and finding more things for us to do as she lays in her bed.

She is cute. She was trying to remember everything that has to be done and then tells us what needs to be done, even though some of those things are quite evident. For example today they were poring the cement for our sidewalk on the side of our house. She reminded me they were poring the cement today. The she said, be careful not to walk in the new cement. Now that kinda ruined my day as I was going to have people over for the walk in the new cement party.

Then before she asked I told her I fed the dogs. Then she said, "You didn't feed them too much did you?" It was a good sign she was getting ready to get back down stairs to take charge of the household again.

Tomorrow we go to her doctor for a post operative visit. Hopefully she will be released to walking (On Crutches) and she can start getting mobile again. I can tell she is getting antsy now as she is swinging her leg in the air just because she is bored. She is surfing all 1,765 channels on the TV so fast I have no idea what the shows are and then she says there is nothing to watch? We always seem to end up on the weather channel or an NCIS marathon. So I get sucked in watching the 7th episode of the 5th season of NCIS, I look up and Devin is looking up "Blood Clots" on her iPad.

Then she asked me to show her the pictures from her procedure and tell her what the doctor said. I tried to blow it off till her appointment tomorrow, but she insisted so I just made stuff up. I was pointing to white hairy stuff and saying it was calcium and there were white little starbursts on the photos and I said that was arthritis, then there was this steel stick in her knee and I told her that was the camera. I got away with that one, but think about it. Why would they have two cameras under her knee cap. Three I could understand if they were filming in 3 D.

Then she asked me what this pink fleshy stuff was and while I was trying to come up with something, she said that must be my ACL. "Oh yeah that was what it was." I said. So now she will see the doctor and hopefully she won't remember anything I told her today.

She has enjoyed two fried egg sandwiches I have made. That sure makes having dinner an easy project. Jack and I enjoyed some Chinese food. Devin is settling down and my dogs are down for the night so I can finish the blog. Life is good.

Let's see what happened today in manic depressive Marketland.

Armageddon will have to wait for another day. This was the day we suggested that all heck would break loose in the market. We started out hot first thing but then we saw a steady fall most of the day. Each index was down about a half a percent, but the Nasdaq and the S&P 500 dropped below their 50 day moving average, an important support number. Probably more important, volume was high.

If we go way back to the Salve Lucrum blog in 2009, we said that the market will recover when housing and employment improves. Today's initial jobless numbers and existing homes sales were both disappointing.

Now initial jobless number MIGHT be a good thing in disguise. Keep in mind when we hear an unemployment figure of minus 8.6% or 8,2% they are talking about the U-3 department of Labor statistic. True employment is the U-6 number and it is hovering the 16-17% range. Unlike the U-3 number, U-6 counts even those who have stopped looking for work.

When that group hears that the economy is improving and some companies are beginning to hire, guess what. They actively seek work and file for unemployment while they do so. That COULD explain the hike in initial jobless claims and if we are right, we could seek a trend of small spikes in the initial jobless claims number. Most of the meaningful earnings reports were good today, but Mr. Market was properly paying attention to the two weak economic points already discussed (three if you want to throw in a weak regional manufacturing report.) and more Euronoise out of Spain, Italy, and now a rumor we might see a downgrade of France's credit rating.

All of this makes this correction just a bit more textbook. There are fewer up days with volume and the down days are picking up some inertia. In other words, the RED FLAG is flying straight out.

We picked up a bit of AAPL news in the VZ earnings call. They implied that the iPhone sales last quarter were below their expectations. That could impact the AAPL's earnings call next week. We quickly sold 90 day calls against our position and turned a nice 11% profit in about 40 minutes. On the dip we did add a few Apples to several of the baskets.

My guess is we will have a repeat tomorrow, witht eh market opening up a bit then contraction all day with the market closing down for the week. Maybe not as bad as we had predicted last Sunday, but down none the less.

I must go medicate my wife now as it is coming up on midnight. Good night Boys and Girls.

Salve Lucrum

Since 4/5/2012

BAGAKOAA;

I am not a professional investment advisor. Anybody reading my blog and investing accordingly must be out of their minds. I have made more money than I have lost. There are many more qualified people than I to actually tell you how to invest your money.

BAGAKOAA=Boys And Girls And Kids Of All Ages

Salve Lucrum=Latin for Hurrah for Profit.

2012 Year Ending

Dow 13,073

S&P 500 1,358

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