Money McBags
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12/28/09 Midday Report: Light volume as the market tries to shed holiday pounds
The only real news today (other than that Nell Mcandrew is still hot) is that the extra day of shopping this year led to an increase in retail sales. Amazingly enough, analysts also found that an extra serving at dinner led to an increase in people gaining weight, an extra shot of Jager led to…
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12/24/09 Mid-Morning Report: It’s Christmas Eve, can a jew get a table dance?
Yes Money McBags lights the menorah and it looks like the market wants him to get those table dances tonight as it is up again on positively mixed news. Durable goods orders rose, though missed expectations with weakness in autos and airplanes which is not suurprising since “Cash for Clunkers” went away like Tom DeLay’s…
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12/23/09 Midday Report: Consumer confidence rises enough to spur consumers to still not buy new houses
Another day and more mixed data so Bulls and Bears can both rejoice (Yay!!! Things are getting better and Yay!! Things are staying crappy. See we can all get along, you hear that Israel and Palestine and Tiger and Elin?). US consumer confidence rose to 72.5 according to the Michigan Consumer Sentiment Index, though it…
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12/22/09 Midday Report: GDP revised down, existing home sales up (await downward revision)
The market got mixed news today as sales of existing homes grew 7.4% to a two year high of a 6.5MM annual rate (and we thank our lucky pornstars for tax breaks, 4% lower median home prices, foreclosure sales of houses formerly owned by the unemployed, and Faye Reagan) while GDP was revised downward from…
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12/21/09 Midday Report: The recovery is on, I read it on the internets
The market is rising today as people are becoming convinced that the economic recovery is real and not just the beginning of a double-dip recession (which is actually worse than double-dipping your chip at a party and not nearly as exciting as a good ATM double dip). Chicago Fed Chief Charles “Chuck E.” Evans maintains…
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12/18/09 Midday Report: Earnings surprises abound as RIMM jobs naysayers and naysayers begrudgingly admit they kind of liked it
The big news moving the market up today is that several tech companies beat earnings. Leading the way was RIMM who destroyed analyst forecasts of $1.04 by dropping $1.23 to their damp bottom line and growing topline by 49%. They also raised guidance, margin forecasts, and the ire of PALM who once again fell short…
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12/17/09 Midday Report: All the news sucks today, but will it swallow tomorrow?
A rash of negative news for the markets is out today. The dollar is rising thanks to the Fed saying they believe the economy is strengthening (they conveniently left out the part about the quadrillion dollars they printed over the past year to strengthen said economy, but I understand that is a minor detail) and…
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12/16/09 Midday Report: Inflation aint what it used to be
The market anxiously awaits Ben Bernanke’s language on interest rates today after the FOMC meeting (and at the meeting, I am told they are serving GDP growth with a side of bank lending, while the kitchen has been told explicitly to hold the Rates, make sure there is absolutely no inflation, and to not put…
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12/15/09 Midday Report: Porter trims forces to 4 as commodities laugh at competitive advantages
The big news today is that wholesale inflation is up 1.8% and manufacturing in the US is churning out more goods people can’t afford to buy, especially if prices have to be raised now that input costs/commodities are moving up faster than expectations (weird that expectations were wrong, though much less weird than the new…
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12/14/09 Midday Report: Abu Dhabi on a Dubai-ing spree for Christmas (or whatever the fuck they celebrate)
Before we get to the midday report, we all need to pour out a little Courvoisier (or whatever your revealed preference for drinks may be) for noted Economist Paul Samuelson who passed away at age 94 Samuelson did his best to try to bring legitimacy to the completely made up and theoretical field of study…