i didn't bother to check any other news yet but are we down cause of the gm deadline? when i saw that story my first thought was that the market wasn't gonna like that news.
funny how people are just starting to remember how bad europe is screwed. i was just thinking about that over the weekend when i was reading my barron's. the u.s. has been much more proactive in promising to print money and our problem is actually much smaller than europe's. i think europe's financial/bank problems are about 5x bigger than ours with like 15 trillion in "toxic" assets. the uk is royally screwed as well. soros came out over the weekend suggesting that they might need an IMF bailout but that begs the question who bails out the IMF? bear market rallies...gotta love em. hopefully my FAZ calls end up working out. i had been scaling into the apr 15's and this seems like it is setting up good but who knows what money printing initiatives they will announce next. oh and if you haven't seen my recent posting blitz in the d&d you should check it out. zerohedge blog had some pretty well informed speculation about how AIG was likely responsible for big bank profitability in jan and feb.
They exploited a regulatory loophole by loading up on AIG CDS. If Japan and China pulls the plug on us, where where they plug into?
apparently i wasn't paying attention while moving, but dylan ratigan quit cnbc? damn, i liked Fast Money mainly for him and macke (although i like the others as well) and replacing him with melissa lee isn't even close to the same.
Crap. I didn't know about this, but apparently it's true. I'm reading that it was due to contract negotiations : http://www.nytimes.com/2009/03/28/business/media/28cnbc.html?ref=media I liked Dylan, although his interview style could grate on me sometimes. At the same time, he drilled people for specific info better than most on that station. Macke is great for the occasional humor, but I can't stand when he hosts shows.
Check out the quoted exchange at the bottom of this article from Ratigan : http://www.huffingtonpost.com/2009/03/27/dylan-ratigan-quits-cnbc-_n_179932.html
does he ever host anything? i've never seen that if he does. i just love the uber-cynicism/sarcasm combo he's got going on and the crazy ways he'll go about expressing it. so with the situation at AIG, the way the economy has been going, with...[3 minutes later]...what do you think this means for the market? it was almost funny to see how long he could make a question last.
Yeah, I've seen him as a guest host on CNBC morning shows and right now he's also guest hosting CNBC Reports. The sarcasm and how he seems on the verge of exploding with every sentence is funny as a sidekick, but is almost unbearable when he's guest hosting. That's exactly what I can't stand about his co-hosting shows! It's like he'll start talking then there'll be a moment where he does this gagging, vomiting, slobbering noise like he's going to pop that gets extended for about 10 seconds, then he starts back up on his tirade. lol.
You have to take SOME profits in this market. I hope the DRYS guy sold atleast half his position on Friday.
I'm not an investment expert...so please don't go trade or not trade based on what I say. But I think we've found a bottom. Yes, I know bad news is coming....but the market knows that too! Everyone knows that. Everyone knows unemployment is going to continue to lag behind this mess. Everyone knows that numbers at the quarter are going to look bad. We've all expected that. In spite of that, it seems to me that the market has found its bottom and is levelling off.
This is the usual sentiment of a bear market rally. AFAIK you could be correct. My bet is that by end of year we will likely be around a SP500 of 800 (about today's trading level).
Yeah, I know it is...but at some point it's right. I'm not saying we're getting ready to go into a kick-ass bull market. We may level off and stick around here for quite some time....but I don't THINK it's going below where it's been.
so, FASB mark-to-market vote tomorrow. any thoughts? are they going to change it? has the market already priced that in or is there going to be a huge swing one way or the other depending on the vote. would a huge swing up on a change be a good reason to get short the financials?
