Ford
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7/23/10 Midafternoon Report: European banks pass stress test, results of colonoscopy still pending
The market was quiet in the morning despite a slew of solid earnings announcements as it waited for the release of the Europe bank stress tests which were more highly anticipated than Lindsay Lohan’s jail stint, Avatar’s opening weekend, or Mel Gibson’s next career limiting phone call. Well the results came out midday and were…
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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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6/30/10 Midday Report: Technical levels blown, now they just want to cuddle
The market was flattish for most of the day until the last hour as some of the fears about Europe abated in the morning thanks to their banking system remaining open for at least another three months (so long enough for depositors to carve out space in their mattresses and pull their funds before the…
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4/27/10 Midafternoon Report: If Greece is now junk, what does that make Haiti?
The market is down today as Standard and Poor’s downgraded Portugal to a principality and Greek to junk and not the the kind in a trunk that most investors love, but good old fashioned junk. It was the first time since the advent of the Euro that a European country has lost its investment grade…
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4/13/10 Midafternoon Report: Alcoa opens earnings season not with a bang but a whimper
The market sold off at the open today but is climbing back like a Phoenix from the ashes or Paul Volcker’s economic reputation. Alcoa’s earnings initially brought the market down as they were a bit disappointing and Alcoa is considered to be the first bellweather company to report in this critical earnings season where baked…
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3/29/10 Midday Report: Who needs yeast as market rises on Passover
Break out the menorahs as it’s Passover and thus time to light the candles, forgo yeast, and drink Manischewitz until the market makes sense and Mayim Bialik becomes attractive. The market is up today as economists ponder their own four questions: 1. “Why is this market different from any other market?” 2. “Why in this…
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1/28/10 Midday Report: Global economy still more fragile than faberge egg wrapped in Donald Trump’s ego
The market is down again today thanks to Qualcomm giving a subdued forecast and something again about people not having jobs. Luckily, according to the Fed, the recession may be over which has left many of the 10% of unemployed people loudly cheering from their urine stained cardboard boxes. The Fed upgraded its economic outlook, reaffirmed…
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1/5/10 Midday Report: After 330 years, stock market proves Isaac Newton wrong: Gravity, schmavity. What goes down, must keep going up
The market continues it’s latest rally despite at best mixed news today. The biggest news is that pending home sales dropped more than Dolly Parton‘s boobs have in the past 5 years (and for the record, she now calls them “anklets”). The 16% drop was more than the expectation of a 2% drop after a…