TOO FEW SELLERS

We have heard and read from several sources... real estate agents are complaining there are not enough listings for their prospective customers to look at....offerings priced right are seeing multiple bids...."if we had more listings ...we would have more sales". And they are telling buyers to "buy up in a down market". We agree....always try to upgrade your portfolio in a down market. The last time this happened was in 1999-2003..when stock investments were losing money and people took cash out of stocks (like now) and put it into houses.

Cash accruing at publicly traded companies is accelerating and at a record level...this will continue until 2013...when new leadership is in a position of power and the tax code is better understood...it is an extreme travesty congress will do nothing for the balance of the year...the Supreme court will confirm as much....major corporations will dramatically cut back capital expenditures and announce further layoffs as well...all is directly related to the politicians incompetence. Many stocks way off of trading ranges for the past year have been discounting some of this uncertainty...but now China appears to be really rolling over...is it just related to the recession in Europe...or something more?? Time will tell...they too are having a hard time with their transition to new leadership later this year.

All the hoopla over the record initial public offering FB.....nice..they raised $16,000,000,000. We are happy the event is over...it was a media circus...we have never seen so much high profile insider selling on the deal......nothing even close to what was just sold to the public...much less at over 100 times flat trailing earnings.

The press/ media should be giving greater attention to the announced public offering of government debt to be sold next week....$126,000,000,000!!

Danny Boy seen here with a broad panorama view....taking it all in...