Our President? This is almost too painful to watch. The President seems to so unsure of himself. Its like he has never thought of some of these things before. His sighs after each question smacks of depression; his own. http://www.breitbart.tv/?p=242763 Now watch this: George Bush: …
Month: December 2008
Noon, Monday, December 22nd With GE, GOOG, and GS all down this market isn’t going anywhere. My Amazon idea was errant, to say the least. But am still thinking revenues w/b higher. Here is a good site to check sector strength/ weakness: MarketGauge by Dataview, …
Good Morning. Futures are pointing to a moderately positive opening. We may be getting a Santa Clause rally both before and after Christmas. The TED spread indicator on Bloomberg.com: Investment Tools again appears to be improving. Remember that a ratio of 1.40 to 1.60 indicates …
Closed End Funds Late December is the time to dig for CEFs. Most share holders are under water and sell to establish tax losses. Since many CEFs are thin traders these sales push the share prices way below the NAV. A good place to begin …
Junk
By now almost is everyone is familiar with the junk bond default rate. The scenario goes like this: the historic default rate of bonds rated BBB or lower is about 4%. Yet, the recent pricing of junk bonds indicates a default rate of about 21%. …
Crushed
I saw GE weakening over the last two days, I even commented on it. Idiot. Go with the obvious. The 3-G’s; Goldman, Google and GE are great market tells. The market finds it difficult to go up without at least two and preferrably all three …
No Where Man
Not much happening. As suggested yesterday there doesn’t seem to be a catalyst to move shares. With a growing recognition that the Fed is out of bullets the markets are on their own for a while. And with expriation tomorrow traders will be cautious adding …
Initial claims still a crusher but we are becoming inured to numbers above half a million. Unemployment clearly headed to double digits. Wilbur Ross, my pal (well, not really a pal, but acquaintance) from our days at Rothschild Inc. suggested this morning on CNBC that …
Front Running
Wednesday, 9:30pm More on Maduff. It turns out I had most of it correct. But I missed the front running part. When we handed off an order to Maduff he would own it. In other words it was off our books and on his. So, …
Quiet
Little Direction….Wednesday, 4:30pm Waited until 2:30 and almost got excited as the DOW retraced and was green for about a minute. But I held off doing anything more. Dollar was crushed, worst day against the Euro in history. Dollar ETF: UUP for up and UDN …