- Foreign bourses are crushed as China backs away from yesterday’s euphoria of unending stimulus. And the report by GM’s auditor that it doubts the company can survive is not helping. But there are seven more days left to China’s economic summit so we are likely to see numerous press releases. Each release will cause some kind of reaction in foreign as well as US markets.
- Those that placed bets yesterday are likely to be challenged to maintain them. A lower opening and the probability of a lower first hour will cause the remembered angst of recent days.
- GE has it’s leading officers out to confront naysayers. The CFO painted a pretty good picture this morning. But it is troubling to hear that the company is self-funded only through 2010.
- Banks stocks continue to be destroyed as the dividend at Wells-Fargo is now circumspect.
- So, it will be a challenge to maintain our one day levity.
- I lost $5 at the poker game last night. But the interesting news is that three of us had bought stocks yesterday. Haven’t heard that in over a year.
- I’ll be off the desk this morning, tutoring my third graders. If you are looking for a volunteer idea I can recommend calling the principal of your local school. Very rewarding.
Don’t get too discouraged, something is at work out there and am thinking it ain’t all bad. Have a great, great Thursday.
