China
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7/1/10 Midafternoon Report: Market sucks again, swallows investor gains
It was another volatile day in the market as initial jobless claims came out and were much worse than expectations which is not surprising to anyone except for those who make those expectations. Claims were up by 13k to 472k while analysts had guessed that they would drop to 452k which means on average they…
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6/29/10 Midevening Report: Market searches for a bottom, hopefully it’s Brooklyn Decker’s
It was ugly out there today, real ugly, like a Lady Gaga– Alan Greenspan love child with a bad case of facial neurofibromatosis. Investors are worried that China is slowing down (they are), that Europe won’t be able to roll their debt (eventually they won’t), and that US consumer spend will shrivel up like Khagendra…
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6/25/10 Midafternoon Report: New finance legislation may cause banks to find different ways to screw customers
The market is up today after congress reached an agreement on legislation to better regulate the financial services industry after only two short years of debate and an economy that people have less faith in than Scientology. The legislation, being called the Dodd-Frank bill (and Money McBags only laments that Senator Tim Johnson did not…
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6/22/10 Midafternoon Report: Home Un-Improvement
The market had trouble finding a direction for most of the day as news is thin and the summer is beginning so most volume is moving to the Hamptons where portfolio managers can sip on lemonade, listen to yacht rock, and denigrate the poor all while ignoring the economic data which has been so lackluster…
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6/21/10 Midafternoon Report: China drops its peg, exposes its growing yuan
The market rallied today in the morning like a chubby chaser with a bottle of crisco on his way to a Peter Paul Rubens exhibit until it faded in the afternoon thanks to common sense and volume. Rallying the market in the morning was news that China is going to unpeg their currency from the…
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6/11/10 Midday Report: Retail sales drop as stores still insist on charging money
The market has been relatively quiet today after yesterday’s meteoric rise on news less relevant than the Pound-Dong exchange rate (and oddly enough Pound Dong was also the name of Alexis Texas‘ last movie) or the 93rd decimal of Pi (which incidentally is 2). In US macro news, consumer sentiment was better than analysts guessed,…
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6/10/10 Midevening Report: Market rallies in anticipation of tomorrow’s sell off
Readers, Money McBags apologizes for his absence yesterday, unfortunately he has a life outside of the great When Genius Prevailed and that life required him to spend all day watching Anna Paquin scenes now that she is oh so comfortable with her bisexuality, so you can’t really fault him for that. Anyway, today the market…
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6/1/10 Midafternoon Report: Market adopts new tagline “Sell the rumor, sell the news”
Stocks bounced around today like BP’s excuses for the Gulf oil spill or like Kelly Brook’s “oil domes” while she jumps on a trampoline. Solid US economic data pushed the market in to positive territory in the morning, giving investors a slight glimmer of hope before that hope was flushed away like a 3 story…
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5/27/10 Midafternoon Report: China backs up Euro, causes it to come from behind
The market was up stronger today than a shot of tequila washed down with a hefty glass of grain alcohol or as its known in the Hasselhoff household: “breakfast.” If you haven’t heard, the Chinese are coming and this time it’s not just from looking at Gaile Lok it’s because they are still hella interested…
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5/18/10 Midafternoon Report: If you want to short in Germany, you now have to wear pants
The markets fell again today as US macro news was mediocre at best, fears in China have risen from red alert to Kung Pao levels, and Germany has banned naked short selling of stocks and CDS (though you are still encouraged to get long Salzgitter and Money McBags’ “salzgitter” would get very long for Sonya…