Roller Coaster!
Markets opened strong. By 9:44am the Dow was up about 130. By 9:45 it started it’s descent, down over 100 Dow points. But at 3:30 the market got a bid and much of the decline was wiped out. Ten minutes to the close it went …
Links
Yaz has a different way of talking but he has been so right on the markets for over a year. What’s Moving Markets? 2 hrs ago I am attaching Harry’s entire post from today. All of it is good. Harry\’s post Mish had this on …
The dark clouds of yesterday’s market collapse are being replaced by a beautiful Spring morning. After a severe cold snap we are headed to the mid-60’s with bright sun. For the 650,000 newly jobless in February this morning may not hold the same allure. It …
It Hurts
Everyone is hurting. Pessimism has replaced opportunism. Free market democracy is being laughed at by leaders such as Chavez of Venezuela and Evo Morales of Bolivia. They are gleeful this evening. And, so far, nothing we have done proves them wrong. We are in serious …
From Barry at Bigpicture.com: Here’s a short list of only the highest quality, bluest of blue chip, penny stocks: AIG (39 cents) Citigroup (98 cents) E*Trade (66 cents) Fannie Mae (39 cents) Freddie (39 cents) Unisys (37 cents) Given the trading volumes, you might think …
OMG
A sucker rally? Sure looks like it. Citi trading below $1, GM defends itself against its own auditor and its stock down 18%, Wells, Fargo about to have it’s bonds downgraded and perhaps cut the dividend, Google downgraded due to lower ad revenues, no word …
Follow through?
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 …
Tempted?
Notice how much better you feel this evening? Rallies do that. We were up about 4% at one time today but, as expected, the day trippers took profits. Most of the excitement was caused by rumbling from China that they will do whatever it takes …
It’s a Melt-up!
Sick and tired bulls are taking no prisoners as they bid ’em up. The day began strong and is getting stronger. I put some money to work (GE, AA, XOM, PRGO) and would like desperately to hold on to positions. But if they get stopped …
Links
Michael Steinhart, one of first, largest and best “hedgies” is turning bullish after correctly going bearish in early January. HEDGEFolios.com The canceled short sale rule has been blamed for taking apart stocks. Not so fast. Short-Sale Rule Revival Undermined by SEC Data After Bernanke Urges …