East Coast Conference Monday – Greetings From Atlantic City!

Nothing to read here, just re-posting the early morning commentary to move chat along:  It's been a busy busy weekend in Atlantic City – hope everyone is doing well.

Yesterday we discussed the Global market outlook in depth and talked about the relationships of the US, China, Europe, Emerging Markets, the Fed, the BOJ and the ECB, the austerity myth as well as the money supply, unemployment, income disparity and the real current economic situation in the US, Europe and China.

Nothing shocking of course, just a very in-depth run-down of what we talk about here all the time. We also discussed long-term investing strategies, portfolio management, valuations, buy-write strategies, retirement strategies, income strategies and Craig gave a presentation on his own IRA Portfolio Strategy.

Today will be crazy short-term betting days and, hopefully, we'll be able to give you guys audio live during the day.

To summarize yesterday's conference session – real economy still teetering on the edge of Recession in most of the World but China is artificially deflated and Central Bank pumping by the Fed and the BOJ still override reality. Inflation monster barely contained in the box but not likely to be unleashed until/unless we seem home sales closer to 1.5M (new) and more like 300,000 jobs a month being added with pressure on rising wages.

Counter-intuitively (and we had a chart for this last week), Corporate Profits will decrease on margin pressure but that will spur the inflation rally – which will likely be the great last leg of this bull market. If we're lucky – it can last for years. On the whole, there was nothing to be bearish about until and unless the ECB disappoints us on Thursday (it is expected they will ease) or the Fed and the BOJ stop printing money (beats much watch "Waiting for Godot" every morning before trading on that hope).

All seems calm in the World over the weekend, China and Japan are closed (Hong Kong was open and flat on low volume) for some holiday or other, Italy (good auction) and Spain are very happy and up 1.25% but DAX and CAC are pulling back below their 0.5% levels and the FTSE is just going red (not sure why yet).

This is another huge earning week…

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