existing home sales
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1/27/11 Midnight Report: S&P Touches 1300, 1300 Says it Liked it
Despite new claims for unemployment putting up the largest weekly increase since September 2005 (and you all remember September 2005, right? Alan Greenspan was still a genius, iPads were still just the truncated spelling of a sanitary napkin, and Kim Kardashian’s vagina was still underwraps (and some guy named Damon Thomas too)), despite Japan being…
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1/20/11 Midnight Report: When All Else Fails, Just Buy The Dip
The market was down strong in the morning as both fears of rising inflation in China and common sense seemed to hurt sentiment, but then like a phoenix rising from the ashes (though luckily not River Phoenix rising from his ashes, because that would have been weird) investors stopped adjusting their bollinger bands, refused to…
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11/23/10 Midnight Report: Fed Minutes Show Only Hours Until Dollars’ Demise as the Economy Will Be The Real Turkey This Thanksgiving
The market is limping in to Thanksgiving like Kenny Easterday with a broken wrist thanks to the European Union being on shakier ground than Gabourey Sidibe on a tight rope, North Korea dropping bombs on South Korea after South Korea’s TSA apparently tried to touch Kim Jong-ils junk, and the Fed releasing the minutes from…
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10/25/10 Midnight Report: Show us your TIPS!
And now it has come to this. With the Fed set to print more dollars than there is available rag paper (though they will soon be able to use the tattered clothing of the homeless and long-term unemployed to make up for that shortage), the US Treasury issued TIPS at a negative yield for the…
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9/23/10 Midevening Report: Housing and employment continue to struggle, but at least we have our healthcare
Ho fucking hum. Another day with more of the same news including bad unemployment numbers, bad housing data, and likely bad promises of a still unreleased Karissa Shannon sex tape (and it’s not even the one Money McBags wants to see). Excuse me while Money McBags yawns as how is he supposed to write dick…
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8/24/10 Midday Report: Housing boom now bigger bust than Dolly Parton’s, though a lot more affordable and without the old lady smell
Money McBags tweeted, facebooked, and even semaphored that he will be traveling Monday through Wednesday of this week and thus likely would be absent from When Genius Prevailed for a few days (even God took one fucking day off), but with the market going back to hell (or at least the 666 low), Money McBags…
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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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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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5/24/10 Midafternoon Report: American xenophobes shout “I told you so!” as european fears send US markets tumbling
Stocks were mostly flat today like they had no gaussian curvature or had Heidi Montag‘s singing voice until they took a nosedive over the final 30 minutes of trading. Existing home sales in the US rose by 7.6% and bested analyst guesses thanks to the first time home buyers tax credit, foreclosure auctions, and promises…
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4/22/10 Midday Report: Market struggles to find green on Earth Day thanks in part to the new planet threatening phenomenon of Goldman Warning
It’s Earth Day which means Al Gore is likely so giddy that he is rolling around the back seat of his electric car while warming his globes to thoughts of Susan Solomon’s ozone hole and Carmella Bing’s flourescent bulbs. And sadly, while all of this is happening, somewhere a polar bear dies. Anyway, the market…