So Now It Gets Interesting

Friday, March 20, 2009

So now it gets interesting.

After a sharp rally (bear market or bottom, depending on the coolur of your spectacles), and a "kitchen sink" policy response from the Fed, we now get to test the resolve of the bulls. The uptrend line of the bounce has been breached, and it will now be down to the true believers to show an appetite to buy stocks "on sale."

Or was the rally just a bit of short-covering? Certainly Macro Man knows a few punters who are/were short, and the chart of the HFR macro hedge fund index would appear to suggest that the industry was damaged by the rally. As is always the case, stocks rallied just enough to encourage any chart-reader to get out, particularly in the context of such a shock and awe responsde from the Fed.
Sod's law would suggest that the decks are now clear for a renewed downdraft. Macro Man has sold a derisory amount of Spoos, just to have his little toenail in the water, but is fully prepared to engage more fully if the dip-buyers go AWOL.

The dollar trade, however, still appears to have some steam in it, with system funds in particular showing a solid appetite to kick George Washington in the groin. Hell, even USD/CNY forwards have come in, trading at the year's low. Of course, they still price in a tiny CNY depreciation from current levels. The joys of beggar-thy-neighbour....
Finally, a query to Macro Man's American readers: what the hell has happened to the radio industry? Macro Man has recently acquired a rather neat piece of kit that allows him to listen to radio stations from all over the world through the stereo system in his living room. This was great last weekend, as he listened to a bit of the ACC tournament while reading a book.

But he then went searching for his favourite radio station from his college days, one that was voted as America's best in Rolling Stone in the early 90's. Imagine his chagrin, therefore, when he tuned into the station, and found it had turned into somethign called "The Rooster."

Ugh.

Any readers who can suggest a good alternative/indie rock station with a minimum of ads or talking DJs should feel welcome to do so. His current favourite is an Irish station which plays great music, but sadly has regressed from it's early-Noughties days as a pirate radio outfit.

Posted by Macro Man at 9:05 AM  

42 comments:

You may want to test drive JJJ (Triple J) radion in Australia. State owned so no ads, and a favourite with the university crowd.

Anonymous said...
10:34 AM  

My younger siblings in Canada tell me that radio got caned by the internet and MP3 players. Young people don't listen to the radio anymore.

CDN Trader said...
10:36 AM  

If you like classic rock (but not oldies), KZOK (102.5) out of Seattle is pretty good.

Tim said...
10:41 AM  

Boston has a couple of good stations. Try FM 92.5 WXRV and FM 92.9 WBOS. For "classic" rock, FM 100.7 WZLX.

Anonymous said...
10:55 AM  

WNUR is Northwestern's student channel, 89.3 around Chicagoland.

http://www.wnur.org/

cfarley said...
10:57 AM  

101.9 out of NYC is a great alt/indie without being too tragically hip about it.

Scott said...
12:15 PM  

The joys of consolidation. When costs are cut someone pays the price...

RF Global Macro said...
12:24 PM  

if you like a great all around station ... fordham university's station is awesome for both new artists and great classic artists. the website is WFUV.ORG and you can listen online, as i do all day at work.

nikki107 said...
12:43 PM  

Phantom - wow. I spent many a thursday night in Dublin going to Phantom sponsored gigs back in my college days. They were a great outfit back then but have heard that the quality declined when they got their licence.

When's the virtual portfolio coming back? You seem to have found your perspective a bit since you dropped it last year - time for a reincarnation? Or does the employer not approve, perhaps?

LFY

LFY

Anonymous said...
1:01 PM  

MM, you can find a good selection on Itunes radio, they're divided in categories: my preferred on alternative section are:
RadioWazee
Lagrosseradio
and various radio alternative '90

i suppose that altenative radio are providing much better satisfactions than alternative investments!

1:06 PM  

MM,

Why the kit? Can't you tune in to pretty much any station online?

As far as "real" stations go you might give a listen to:
WMVY (consistently original and good, www.mvyradio.com), WRNR (www.wrnr.com is off it's high, used to be the best bar none, now has a morning show).

My favorite online radio station is www.radioparadise.com

flagrantfoul said...
1:07 PM  

my favorite station is crude

Anonymous said...
1:27 PM  

indie 103.1 in la was great--but now only online think off air and format has changed quite a bit as they (like all other radio) got hit by changing buiness--however they still have some great shows not sure if they still doing the live tat every thursday am on hardcore show but jonies still on give it a listen

1:34 PM  

MM,

I echo 101.9FM out of NY, but would also suggest 107.1FM out of White Plains, NY. Additionally, WXRT 93.1FM out of Chicago is a solid choice.

All have an alt/indie flair, but back it up with some blues as well as a desire to go deeper into albums than most.

shoeless said...
1:35 PM  

Great Indie/Alternative!! the current 89.3 out of Minneapolis, NO Commercials. I have 'discovered' some great music listening to this station.

Anonymous said...
1:37 PM  

WPRB.COM is the Princeton college station (one of the only college stations with its own endowment--wonder how it's doing). Pure indie sound. No major labels. Classical in morning, jazz then indie in the afternoon through the night. Guaranteed to hear something you never heard before.

PureGuesswork said...
2:09 PM  

Easily create your own 'radio station', sans commercials (actually more like a playlist). Just type in what sounds good to you at that moment, whether it be an artist, a song or a keyword and the software compiles a list of music with similar aspects/characteristics. Similar to the iTunes 'Genius' function, except that you don't have to own the music:

http://www.pandora.com/

Great app for your mobile also.

Tyler said...
2:23 PM  

...by the way, I have no affiliation to Pandora, just think it's a very nice app & website.

Tyler said...
2:25 PM  

The back story here is we are redoing the kitchen, so I have purchased a Sonos multi-room music system. One of the ancillary benefits is access to globaal radio stations; what I am interested in is something where I can listen to stuff I haven't heard before. (It also includes Napster, where I can play a zillion different tracks on demand....what I want to is to hear new stuff to demand!)

Tks to all for the recommendations.

Macro Man said...
2:25 PM  

107.7 THE END Seattle. Killers, Bravery, shiny toy guns, Death Cab, etc... + 90's grunge/alternative + MC Hammer (jk). Rock on. Alex

Anonymous said...
2:54 PM  

The Current!

http://minnesota.publicradio.org/radio/services/the_current/

89.3FM in and around Mpls/St. Paul.

Anonymous said...
2:57 PM  

Pandora is awesome for new music. Problem is they block access if you try to use it from a non US IP address.

LFY

Anonymous said...
3:04 PM  

rolling stone named indie 103 LA best in 2008... google 'indie radio los angeles' and most probably get the best there is, as in most everything is best out here on the left coast!!

ok, i'll start the chant: die die die this spooz is much too high

SPX downtrend line form jan/feb highs, 50 day ema, and 62% fib of 667-875 all come in about 795

SPX earnings inflation adj. dive for 20 yr low:
http://www.chartoftheday.com/20090320.htm?T

TGIF!
-deac

Anonymous said...
3:07 PM  

WXPN, affiliated with the University of Pennsylvania in Philadelphia--good and eclectic. Also check out associated podcasts, including the ones from the World Cafe Live, their performance space. To be honest, I don't know anyone who actually listens to the radio anymore in the traditional sense--it's all podcast, collaborative filtering, and youtube (and I'm not that young). Stay macro!

Namazu said...
3:36 PM  

Largely in response to the Fed’s promise of injecting more money into the economy by buying over $1 trillion worth of Fannie and Freddie mortgage backed securities (MBS), the 30-year fixed rate mortgage fell to below 5% today:
By the close of business on March 19, the 30-year conforming FRM fell to 4.94%, according to Keith T. Gumbinger, a VP at HSHAssociates.com. That’s a fall of nearly a quarter percent since Wednesday.
That’s substantially lower than the 5.04% seen in January, which at that time was the lowest rate in about 50 years.

us dollar biggest weekly fall in 24 yrs- european holders of SPX getting hit this week

silver rose by biggest daily amt. since 1979 yest., talk about thin that SLV market cap only $3bill...
-deac

Anonymous said...
4:18 PM  

try today fm another irish station which has an inspired dj called donal dineen at night. worth making an effort to listen to

Anonymous said...
4:23 PM  

WFMU 91.1 FM of East Orange NJ. Free form, so some periods when just seems like noise, but other times basically nothing but good.

KCRW 89.9 FM, So Cal NPR ... some of the more interesting DJs out there.

freude bud said...
4:35 PM  

Kcrw.com there are a few streams available. Morning becomes eclectic is best music show out there. All shows are available for podcast too.

Anonymous said...
5:08 PM  

"Finally, a query to Macro Man's American readers: what the hell has happened to the radio industry?"

Laissez-faire deregulated capitalism, of course.

Mass Clear Channel ogliopoly buyup.

Me, I try to listen to the BBC news on my local public college station.

Thx 4 paying beeb tax.

Anonymous said...
5:18 PM  

KEXP 90.3FM, Seattle.

Anonymous said...
5:57 PM  

day 2 of march madness college hoops!
did that catch some bulls away from their desks???

i have 768.6 as the SPX 2002 low...
we be there!

Anonymous said...
6:12 PM  

IN ITALY, YOU CAN LISTEN TO RADIO CAPITAL, AROUND MY HOUSE IT IS 105 FM

Anonymous said...
6:15 PM  

could you explain spoos and awol? we are not all bloomberg code experts

Anonymous said...
6:19 PM  

@anonymous: A spoo is the S&P 500 contract. The symbol for the September contract is SPU, thus the name "spoo". But the other months are called spoos too.

AWOL is a military term - Absent WithOut Leave.

No BBG terms here.

Scott said...
6:25 PM  

breathing is two way process ...to breath out you must breath in :)

rome was not built for a day

Anonymous said...
7:43 PM  

MM,

As shoeless said....WXRT, 93.1 FM in Chicago is good. They have "special" programs, like "New Releases Thursday"..."Blues Breakers", on Sunday night, to help keep one abreast of some new(er) stuff (their format is "classic rock").

jan

Anonymous said...
10:39 PM  

I'd second the WXPM recommendation if you like indie rock. The consolidation of commercial radio in the US has opened the door for NPR affiliates, which have grown their listenership and quality dramatically over the past decade. You can now get an NPR station for practically the entire East coast, so you don't have only christian & country radio in NC & SC.
Apple's iTunes has a great aggregation of radio stations that deserves a look. Lastly, WNYC is a great station for talk; Brian Lehrer weekdays and the Saturday NPR lineup of "Wait Wait don't tell me" and "This American Life" are NEVER boring.

RichL said...
3:09 AM  

Try 90.3 KEXP in Seattle, broadcast from UW.
http://kexp.org/streamarchive/streamarchive.asp

tim carver said...
3:29 AM  

blip.fm, just play the home page as its refeshing.
its the best i think.

ta for the blog, when should we get into dollar ready for the euro devealuation?

:-)

jez said...
10:52 AM  

pandora.com tries not to work outside the USA, but isn't last.fm something similar?

Anonymous said...
10:48 AM  

wow - macro man. duke grad? in durham myself. yes, 106.1 has now "gone country" been that way for several years - but 96.1 is an independent rock station that plays classic and other rock. and, as an aside, is now the home of woody durham.

i don't know of any good radio stations - 88.1 from NCSU, 88.9 from duke and 89.3 from carolina are still (presumably) playing some kind of college type music.

i get most of my music from the mp3 blogs now.

chad said...
3:10 AM  

my bad........the rooster - is now the home of woody durham, not 96.1.

but, check out 96.1 - they play the same stuff that 106.1 used to & some newer crap

chad said...
3:15 AM  

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