Thursday, March 12, 2009
A recession winner
The recession has demonstrated its broad brush, seemingly irrespective of race, class, geopolitical or geographical attributes. Losers and winners, not necessarily equal or fair, but real. I guess I look at it as a shift in energy. This has happened historically, geographically, including with economic power and dominance. The following was extracted from the Smith & Wesson Third Quarter investor call (Smith & Wesson Holding Corporation Q3 2009 Earnings Call Transcript ). "At the same time, we capitalized on recent very strong demand for our pistols, revolvers and tactical rifles. We delivered solid profits and we made significant progress toward bolstering our balance sheet while reducing our inventories and strengthening our cash position." I find this more than a little disturbing but then there has been a fair amount of that in the last 18 months or so. Considering that this is the place we have arrived to, at this stage in the process, doesn't it make one wonder just a little, how far will our human psychology allow us to go before ... before ... before ... I'm not sure what to say. Before reverting to more primitive and territorial behaviours. I read today from the trading floor that the market is itching to rally. But it seems that volume and buying pressure just aren't cutting it quite yet, according to some. Tomorrow, Friday should be interesting. I'll be peeking at overseas openings for a clue. That worked really well today, with the Nikkei down overnight, and our third positive day in a row. Go figure. The game continues. Is this a new inning?
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