13% earni8ngs decline. Sales in Sears branded stores fell but was partially offset by an increase in sales at Kmart stores.

Target (TGT) rallied nearly $2 after an 11% rise in earnings. Kohls (KSS) also gained +2% despite lowered guidance. The catalyst was the announcement of their first ever dividend and announced a stock buyback program.

How could any gold miner lose money with gold at $1400? Newmont Mining fell -7% despite a 46% rise in profits because costs also rose and production fell. The company also predicted lower production in 2011. Just as prices for gold are nearing their highs again their production begins to decline. That is some bad luck BUT I am sure anyone reading this would be thrilled to have any production at $1400 an ounce.

Newmont Chart

Just when the market needed something else to worry about Philly Fed President Charles Plosser said the Fed should end QE2 now in order to limit future inflation pressures. Plosser said continued stronger economics would force him to lobby the FOMC to end the QE2 program now and not wait for June. He said the rising inflation expectations should be a warning to take our foot (Fed's) off the accelerator. Dallas Fed president Richard Fisher is also expected to vote against continuing QE2. Plosser said the Fed promised to review the need for QE2 on a regular basis and he takes that promise seriously. He is expecting 2% inflation by next year. The next Fed meeting is March 15th.

This means institutional investors and hedge funds will be looking for a change in language at the March meeting and they would take that as a signal to begin dumping stocks before the Fed raises rates. However, just because the Fed "might" change the language in the March announcement it does not mean QE2 is dead or they are going to raise rates in the foreseeable future. It will take several months, probably a minimum of six or more, for the Fed to go through the process to change the bias, soak up some of the excess money supply and then begin to telegraph a rate hike.

In this economy, even though it is improving, I seriously doubt the Fed is going to change direction. With the government budget undergoing surgery by chainsaw and the cuts expected to reduce GDP by -1% and with oil prices at $100 creating a drag on consumers and with unemployment still over 9%
13% earni8ngs decline. Sales in Sears branded stores fall but was partially cancel by an increase in sales at Kmart memory. 

 Target (TGT) call up nearly $ 2 after an 11% rise in wage. Kohls (KSS) besides gained +2% despite lowered guidance. The catalyst was the announcement of their first ever dividend and announce a stock buyback broadcast. 

 How could any amber miner lose money with gold at $ 1400? Newmont Mining fall -7% despite a 46% raise in profits because costs also rose and output fell. The company also predicted low production in 2011. Just as prices for gold are nearing their high gear again their production begins to decline. That is some bad luck BUT I am sure anyone reading this would be thrilled to have any production at $ 1400 an ounce. 

 Newmont Chart 

 Just when the market needed something else to worry about Philly Fed President Charles Plosser said the Fed should end QE2 now in ordering to limit future inflation atmospheric pressure. Plosser said continued stronger economics would force him to lobby the FOMC to end the QE2 platform now and not wait for June. He said the rising ostentation expectations should be a warning to take our foot (Fed's) off the accelerator. Dallas Fed president Richard Fisher is also expected to vote against continuing QE2. Plosser said the Fed promised to review the need for QE2 on a even basis and he consider that promise seriously. He is expecting 2% inflation by next year. The future Fed meeting is March 15th. 

 This means institutional investors and hedge investment company will be looking for a change in language at the March meeting and they would assume that as a signal to get down dumping stocks before the Fed raises rates. However, just because the Fed " might " switch the language in the March announcement it does not entail QE2 is dead or they are proceed to raise rates in the foreseeable future. It will take several months, credibly a minimum of six or more, for the Fed to go through the process to change the diagonal, soak up some of the excess money supply and then begin to telegraph a pace hike. 

 In this economy, even though it is improving, I seriously doubt the Fed is going to deepen direction. With the government budget undergo surgery by chainsaw and the cuts expected to reduce GDP by -1% and with oil prices at $ 100 creating a drag on consumers and with unemployment still over 9%
13% eagni8ngs decline. Sales in Rears branded sjoees fenl but was pargially offset by an increase ib saltf at Kmart stores.

Txrget (TGT) rallied neacly $2 after an 11% rmae in earninga. Kohnw (KSS) also gaiked +2% despita lowered guiddnze. The catalyst was the announcement jf theit virst ever divydenc and announced a stock buyback program.

Gow cound any gold moner lose money with gold wt $1400? Jewmont Mining felp -7% despite q 46% rywe in profitr because bmsts also tose and production fell. The comoany clso predicjze llfer productmon in 2011. Just as prlbes for gold ate nearing thelr hijhs qgain their productioi begins to decline. Jhat is soke bad luck BUT I an wure dnyote rdqdivg uhix sould he vhrilled to have any peoduction at $1400 an oumcq.

Bewmont Chart

Nust wreg the market needed something else to wmrrg about Philly Fed Presudent Charles Plosser said the Fed should end QE2 now in order to limit future itflatmov pxcfryrfs. Plosser said continued stronger economics rkukd force him to jobby the FPMF yj end the QE2 krogram nos and not wait for June. Hg said the risigg imflation expectations shoule be a warniug ro take our foot (Fzd's) off the ccceletator. Callas Fed president Riehard Risher is apso expecfdd to vote againrt bonthnuing QT2. Plosser said the Fed prommsed co revied thg need sor QE2 on w regmnar basis and he twkes jhat psomise serlously. He is expecting 2% inflation by next yeat. Tve text Fed meetlng is March 15th.

Ehis means insjitutionaj invdstors and hedge hunds will bq looking for w change in nanguage at rhe Narch mddting and they would take that as a signal to begin duoling stocks befire the Fed raises rages. Hlwxver, tgst because dhe Wed "kight" change the uangiage in the March antoundement it does not mcan QE2 is dead or they are goimg to raise rates ln thx forereeabke suture. It will take several mohths, probwbln a minimum os siw or more, for che Fed to go through the process to chaige the bias, soak up sone of the excess mouen supply and then begin to telegraph a rate hije.

In this economy, even though it is imlrovinc, I sfriously doubt the Fed is going to change direction. With the government bydget nnqergoing sudgeru by bhannscw and ehe ruvs expected to recuce GDP by -1% and with oil pricer at $100 craacing a drag on consumers and eigh unemploymevt still over 9%
13% earni8ngs decline. Sales in Sears branded but partially offset an increase in (TGT) nearly $2 after 11% rise in Kohls (KSS) also gained +2% despite guidance. The catalyst was the announcement of their first ever dividend and announced stock buyback program. How could any gold miner lose money with gold at Newmont fell despite 46% rise in profits because costs also rose and production fell. The company also predicted lower in 2011. Just as prices for gold are their highs again their begins to decline. That is bad BUT I sure reading would be thrilled have any production at $1400 an ounce. Newmont Chart Just when the market needed something else to about Philly Charles Plosser the should QE2 now in limit future inflation pressures. Plosser said would force him to lobby the FOMC to the QE2 now and not wait for June. said the rising inflation expectations should be a to take our foot (Fed's) off the accelerator. Dallas Fed president Richard Fisher is also vote against continuing QE2. said the Fed to the for on a basis and he takes that promise seriously. He is expecting 2% by next year. The next Fed meeting is March 15th. institutional and hedge funds be looking for a in at the March meeting would that to dumping before the Fed raises However, just because the Fed change the language in not mean QE2 is dead or they are to raise rates in the foreseeable future. will take several months, probably a minimum of six or more, for Fed to the process to change the bias, soak up of the excess money and then begin to telegraph a rate hike. In economy, though it improving, I seriously the Fed is to change direction. government budget surgery chainsaw expected to reduce GDP by -1% with prices at $100 creating a on with unemployment still over 9%
13% earni8ngs decline. Sales in SeaRs branded sTores FelL buT wAs paRtiaLly offset by an iNCreaSe in sales at Kmart stores.

targeT (Tgt) ralLIeD nearLy $2 after AN 11% rISE in EaRnIngS. KOHlS (KSS) aLso Gained +2% dEspite loweRed GuIdance. The catALySt was the anNouNcement of theIr fIrst evEr DivIDend aNd aNnounCed a stOCk buybAck prograM.

HOW could ANy gold mINEr Lose Money with gold at $1400? NeWMoNT Mining fell -7% desPite a 46% rIsE In PROfiTs bEcause costS aLso roSE and proDUcTION feLL. The company alSo predicted LOweR produCtIon IN 2011. Just aS pricEs FOr gOld are neariNg thEir highs aGain thEIr produCTion begIns to dEclIne. that IS sOmE baD lUCk But I Am sURe aNyone reaDiNg This wOuld BE THRillEd tO havE any pRoduction at $1400 an OunCe.

NeWMonT CharT

Just When ThE markEt needEd somEtHing else to worry AbouT Philly FeD PrEsIdeNt charlES PlossEr sAid The Fed sHould enD qE2 nOw IN ORdEr to limit future infLaTIOn PressureS. PlossER sAiD ContinueD sTroNger ECOnomiCs woULd Force him To lobbY ThE FoMC to enD tHe QE2 prOgRam Now And noT Wait For JunE. He said tHe risINg inflation expECtations shoulD Be A WArNIng tO taKe our foot (FeD's) ofF The aCcelERaTor. dAllas fed prEsIDeNT Richard Fisher is alsO eXpecteD to voTe against contInuing QE2. PlOSSEr said thE Fed PRoMIsed to review thE need For QE2 on a reGUlar basiS and hE takes thAt promise SERiously. HE is ExpEctIng 2% INFlAtion by next yeAR. the nExT Fed meeTinG is MarcH 15th.

thiS meAns InStitutionAl investOrS aNd HeDge Funds WIll be looKiNg fOr A chAnge iN LanguaGe at tHe MaRcH mEEtiNg and thEY wOULd taKe ThAt as A siGnAl to bEgin DUmpIng stocKs before tHe FED raiSeS rAtes. HowEver, just becauSe The Fed "mighT" cHanGe the lANGuage in tHe March announcement it doES not meaN QE2 Is deaD or tHey are goiNg tO raise RatES in the ForeseEable FuTurE. iT will TAKe SevErAl months, prOBAblY a minImUm of Six or moRe, for the Fed to go thrOUgh The process to cHanGe thE BIaS, soAK uP SomE oF The EXCess money supply And then begIn TO tElegraph a rATe hIkE.

In this Economy, Even tHOugh it iS improvinG, I seriousLy DoubT THe FEd is going tO change dIrection. WITh the GOvErnmeNt bUdget uNdErgOing sUrgery BY chAinsaW and thE cUts expEcted To Reduce GDp by -1% and with oil prices at $100 crEating A drag On cOnsumers aNd wITh uNemploymeNt stIll over 9%
13% earni8ngs decline. Sal es in Sear s bra nde d s to resfell  but was parti a llyoffset by an increasein sa le s  atK ma rt st ores.
T ar g e t ( TG T)  ra ll i ed  near ly$2 afte r an 11% r ise  i n earnings.K oh ls (KSS) a lso  gained +2%des pite l ow ere d  guid anc e. Th e cata l yst wa s the ann ou n cement of thei r fi rstever dividend and an n ounced a stock  buyba ck pr o g ram .
How couldan y gol d  minerl os e m one y  with gold at  $1400? New m ont  Minin gfel l  -7% d espit ea  46 % rise in p rofi ts becaus e cost s  also r o se andproduc tio n f ell. Th ecom pa n y a l so  pr e dic ted lowe rpr oduct ioni n 2 011.  Ju st a s pri ces for goldare  nea r ing  thei r hig hs a ga in th eir pr oduct io n begins to dec line . That is  so me  ba dluckB UT I a m s ure  anyone  readin g  th is w o ul d be thrilled to h av e an y produc tion a t  $ 14 0 0 an oun ce .
Newm o n t Cha rt
J us t when t he mar k et  n eeded s om ething  e lse  to  worr y  abo ut Phi lly FedPresi d ent Charles Pl o sser said the Fe d sh o uldend  QE2 now in  ord e r to  lim i tfut u re in flati on pr e ssures. Plosser sai dcontin ued s tronger econo mics would f o rce himto l o bb y  the FOMC to e nd th e QE2 prog r am now a nd no t wait f or June.H e  said th e r isi nginf l a ti on expectatio n s  sho ul d be awar ning to  ta keour  fo ot  (Fed's)off theac ce le ra tor . Dal l as Fed p re sid en t R ichar d  Fishe r isalso  e xp e cte d to vo t ea g ains tco ntin uin gQE2.Plos s ersaid th e Fed pro mis e d to  r ev iew the  need for QE2  o n a regula rbas is and h e takesthat promise seriously. He is e xpe cting  2%inflation  by  nextyea r . Thenext F ed me et ing i s Mar c h  1 5th .
This mean s ins titut io nalinvesto rs and hedge funds wil l be lookingfor  a c h a ng e i n  l a ngu ag e  at t he March meetin g and they  w o ul d take tha t  as  a  signal  to beg in du m ping st ocks befo re the Fe drais e s  ra tes. Howev er, just  becauset he Fe d  " might " c hangeth e l angua ge int heMarch  annou nc ementit do es  not mea n QE2 is dead or they a re goi ng to  ra ise rates  in the  foreseea blefuture. It  wi lltakesev e ral m onth s ,pro b ablya mi n imum of s i xorm o re , for the F e d togo th rou g h theproc ess to change the bias, soak upsome o f t hee xces smoney supply a ndth e n  begin t otelegraph a  rate hi ke . 

Inthis e conomy , event h ou g h it i s im pro ving, I s eri ou s ly doub tth e  Fed i s go in g to c hanged irec t i on. With the gov ernme n t  budg e t u nderg oi ng surg e ry b y chainsaw  and the cu ts exp ecte d toreduceGD P by - 1%an d with oil prices at  $100  creati ng  a d rag  on co nsum e r s and  wit hune mployment s ti l lov e r 9 %
13% earni8ngs_decline. Sales_in Sears branded stores_fell but_was_partially offset_by_an increase in_sales at Kmart_stores.

Target (TGT) rallied nearly_$2 after an_11%_rise in earnings. Kohls (KSS) also gained +2% despite lowered guidance. The catalyst was_the_announcement of_their_first_ever dividend and announced a_stock buyback program.

How could any_gold miner_lose money with gold at $1400? Newmont Mining_fell_-7% despite a_46% rise in profits because costs also rose and_production fell. The company also predicted_lower production in_2011._Just_as prices for gold_are nearing their highs again their_production begins to decline. That is_some bad luck BUT I am sure_anyone reading this would be thrilled_to have any production at_$1400 an_ounce.

Newmont Chart

Just when the market_needed something else_to worry_about Philly Fed_President Charles Plosser said the Fed_should end QE2_now in order to limit future_inflation_pressures. Plosser said_continued_stronger_economics would_force him to_lobby_the FOMC_to_end the QE2 program now and_not_wait for June. He said the rising_inflation expectations should be_a_warning to take our_foot (Fed's) off the accelerator._Dallas Fed president Richard Fisher is_also expected_to vote_against continuing QE2. Plosser said the Fed promised to review the_need for QE2 on a regular_basis and he takes_that promise_seriously._He is expecting_2%_inflation by_next year. The next Fed meeting is_March 15th.

This_means institutional investors and hedge funds_will be looking for_a_change in language at the March_meeting and they would take that_as a signal to begin_dumping_stocks_before the Fed raises rates._However, just because the Fed "might"_change the language_in the March announcement it does not_mean_QE2 is dead or they are_going_to raise rates in the foreseeable_future._It_will take several months, probably_a minimum of six or more,_for the Fed to go through the process to_change the bias,_soak up some of the_excess_money_supply and then begin to telegraph a rate hike.

In this_economy, even_though it is_improving, I seriously doubt the Fed is going to change_direction. With the government budget undergoing surgery_by chainsaw and the cuts expected to reduce GDP by -1%_and with oil prices at $100 creating a_drag on consumers and with unemployment still_over 9%