Ed’s Daily Notes for June 25th   4 comments

Zero Hedge: Credit Suisse “Fear Barometer” Hits All Time High

Above is a great article, both for options traders, as well as for people wondering why the VIX is so low.

Fox News: Actor Eli Wallach reportedly dies at age 98

Eli Wallach, a character actor best known for his supporting roles in the Western classics “The Magnificant Seven” and “The Good, The Bad, and The Ugly,” died Tuesday at the age of 98, according to a published report.

I was saddened by this news, because Wallach had what I consider one of the all-time great movie lines, as Tuco in The Good, The Bad, and The Ugly. From IMDB:

[Tuco is in a bubble bath. The One Armed Man enters the room]
One Armed Man: I’ve been looking for you for 8 months. Whenever I should have had a gun in my right hand, I thought of you. Now I find you in exactly the position that suits me. I had lots of time to learn to shoot with my left.
[Tuco kills him with the gun he has hidden in the foam]
Tuco: When you have to shoot, shoot. Don’t talk.

There is a lesson in that for all of us.

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Posted June 25, 2014 by edmcgon in Market Analysis, Movies, News

4 responses to “Ed’s Daily Notes for June 25th

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  1. Having spent the last ten days outside working in the yard, this rang true with me:

    But the truly disturbing part isn’t that we’ve hit a new record. It’s that we live in a season of new records. This may be the the new warm normal. To find previous hottest Mays, you don’t have to search far; four of the five hottest Mays on record have occurred since 2010. More difficult is finding a cool May. The last time the month fell below its 20th-century average was 39 years ago.

    The planetary hot streak is driven by rapidly rising levels of greenhouse gases in the atmosphere since the industrial revolution. Global warming is already being felt around the world, resulting in bigger heat waves, rising seas and changing patterns of precipitation. No one under age 30 has been alive for a single month when the planet’s average surface temperature was below average.

    http://www.bloomberg.com/news/2014-06-23/global-temperatures-break-another-record-for-the-month-of-may.html

    • So last winter’s record lows are meaningless, while the last month’s record highs have meaning?

      • Ed you might want to recalibrate given that they are talking global temperatures not just for the eastern US…

        “Despite the frigid temperatures that kept those in the eastern United States shivering all winter, the period from December 2013 to February 2014 was the 8th warmest on record globally, the U.S. National Climatic Data Center”

        “And February, which was the 21st warmest globally since record keeping began in 1880, was the 348th consecutive month where temperatures were higher than the global average; the last month with below-average temperatures was exactly 29 years ago, in February 1985, when Ronald Reagan was just beginning his second term as president.”

        I predict that in the next 20-30 years folks will look back and wonder why climate change deniers were ever taken seriously. Of course 1/3 of Americans don’t believe in evolution so you never know.

        Robb

      • Thank you Robb, your answer was spot on.

        As I have noted before: I may not agree with how to stop global warming but there is no denying global warming.

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