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11/15/10 Midnight Report: Retail Sales Rotten at the Core
A flurry of buyouts, headline-y good macro news (just don’t read the “not so” fine print), and the Fed promising to print enough dollars to make everyone a millionaire as Bernanke mimics the First Citiwide Change Bank “volume” strategy, caused investors to celebrate in the morning by doing the Dougie. However, the market slipped end…
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7/22/10 Midevening Report: Market shoots up on earnings, hopefully it wasn’t sharing a needle with Greece
The market raced up today as if it were Icarus escaping from Crete and rapidly approaching the tantalizing Sun, though with luck it used better wings and thus will avoid the same fate. Despite more negative macro news, a growing and unsustainable debt, and more longterm unemployed people than a fast food addict has bacne,…
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4/26/10 Midafternoon Report: Financial reform bill coming after Senators talk dirty to it
The markets were relatively flat today despite the financial sector reaching down for its cankles as the Senate prepares to probe the sectors’ cavernous derivatives loophole. Financial reform is coming, the only question is if it will be weak or really weak but until then financials should be a bit volatile with a downward bias. …