Month: July 2010
-
7/19/10 Midevening Report: Stocks higher as earnings more highly anticipated than the last thing that wound up disappointing everyone
The market sagged today like a droopy catenary with a very low value of “a” or Uma Thurman on vacation, before gaining some steam in the afternoon. With earnings season started, macro data was lighter than Ben Stein’s reputation as an economist or sales of Liberace’s last book: “How not to get AIDS and die.” …
-
7/16/10 Midnight Report: A load of Bears hit
The market tumbled today like a broke Boy George on a floor covered with dong as consumer confidence continues to fade like LeBron James’ Q score or Haiti. Consumer sentiment fell to 66.5 which is the lowest since August and below the most pessimistic guesses of those not paying attention (also known as economists). The…
-
7/15/10 Midevening Report: Senate approves financial reform only 5 years too late, next up, what to do about all of those indians
The Senate passed a sweeping financial reform bill today, though the only thing it is likely to sweep is more problems under the rug. After many compromises between Democrats and Republicans, the bill basically lets regulators feel the financial sector up but then caucusblocks them from going all the way. Sure there are now limits…
-
7/14/10 Midafternoon Report: Retail stales
Ho fucking hum. Retail sales fell again in June as stores keep trying to charge money for products and people keep not having any. Sales dropped .5% in June, though if you exclude automobiles, sales only dropped .1%, and if you go one step further and exclude anything bought in a store other than ramen…
-
7/13/10 Midafternoon Report: The market is AA-ok as Alcoa foils bears
The market was off to the races today as if it the races were going to feature Usain Bolt taking on Sara Jane Underwood in the 100 meter dash with the loser having to run a lap in the buff. The big news of course was that Alcoa started off the earnings season by destroying…
-
7/12/10 Midevening Report: Hefner bid titilates Playboy stock, shares bust out
There was little news in the market today as investors waited for AA’s earnings tonight as a signal of things to come as everyone knows aluminum production is what really drives the economy (and yes that was sarcasm). Without much macro news other than shit continuing to get worse with temporary census jobs ending, republicans…
-
7/9/2010 Midafternoon Report: Investors get excited and take off their shorts to allow long exposure to grow
It’s a quiet day newswise and thus the market is deader than the Cleveland Cavaliers as it awaits the start of earnings season next week. Dominating the news today are non-financial matters like LeBron James betraying his home town team (and Cavs owner Dan Gilbert is said to have slept with his johnson in a…
-
7/8/10 Midday Report: More bulls hit
The market jolted up on unemployment news this morning before remembering it had already gone up yesterday and thus quickly settled in like an environmentally friendly squatter in Al Gore’s mansion. The big macro news is that new claims for unemployment dropped to 454k or some number higher than that depending on how much the…
-
7/7/10 Midafternoon Report: Bulls hit
The market was up today because we are due for a brief rally until we resume our fall in to the abyss like King Midas’ son Anchurus (only without saving the Earth) or like Alan Greenspan’s reputation. The market has reached the point where some stocks have simply been oversold and with the lack of…
-
7/6/10 Midafternoon Report: Heat wave melts market rally, or maybe it was common sense
Holy crap is it hot out today. It’s so hot that the only difference between the East Coast and hell is that Jim Cramer isn’t in hell, yet. Anyway, the market was rebounding a bit after downing several vials of muscle relaxant to help cure the severe case of lockjaw it developed from going down…