Yawn
The opening proved me wrong, thankfully. But are we delaying the test to new lower lows? And what about leadership? Apple, Goldman, Google all down with GE getting crushed on enormous volume as rumors of dividend risk swirl.
Sanford for President
Earlier this morning on CNBC James Grant, the publisher of The Interest Rate Observer, exclaimed: “If you had run for President I would have voted for you!” Grant had thrown his hat into the Mark Sanford (South Carolina, Rep.) ring. Sanford was speaking from the …
Buy the Dip
Early Asia trading is off 5% across the board. Our opening is likely to be down big. Today’s repudiation of our government’s plan (such as it is) and Intel’s awful guidance will cause more sellers in the morning. We could get a bounce as sellers …
And the beat goes on
Intel earning news killing tech. Cisco, Microsoft, IBM, etc, etc, all down after market’s close. Tomorrow’s opening likely to be worse. There could be some distressed buyers mid-morning. Nothing, nothing is working. Gold, silver, oil, equities….all getting killed. Is this the tipping point? Will everyone, …
Worser and Worser
Now even the lawyers are being fired. White & Case lets 70 go. And now for some encouraging words. There are about 900 rural electric cooperative electric companies. Their customers have been without broadband. Now, IBM has worked out a deal to use the power …
Shell shocked
The President of Legg, Mason (LM) was on CNBC this evening and he gave the appearance of being in shock. His stock is trading at $18.65, up 7% today but down from $80. LM’s Bill Miller was the hottest manager of the last decade and …
Glass half empty
Buying stocks mid-way through a recession has been a good strategy. If you can tell me when the recession started I can probably guess about its mid-way point since most recessions last about thirteen months. This one, however, has all the earmarks of a long, …
More of the same
Bear market rallies can last two days or two months. Last week’s rally lasted six days and provided false hope to millions of investors. This remains a trader’s market and only the nimble or the perma-Bears will make money in it. Heard any good news …
Get ’em while you can
China’s consumer bailout is having positive effects on world markets this morning. As usual, we have a trading opportunity, but be quick. SSO is the choice for an up market move. Everywhere we look people are loosing jobs, earnings estimates are too high, retail shops …
Cash-in
As Jon Stewart remarked this week, what is a guy named Art Cashin (Cash-in) doing remarking on this bear market? Art was a hero of mine while at PaineWebber. He was my first read every morning. His notes were written about 5am and included a …