Market: Shaken not stirred- DOW opens down 280

Update: Market miraculously* came back to close down a mere 25. this was only a test of the emergency Plunge Protection Team, -for now- who knows when TPTB will let the markets fall? the Shadow Inventory knows, Muuhuuuuhaaaaaaa!

Shellacked, that’s what’s happenin’ to folks still in, gettin shellacked..CNBC cohosts want us to know it has ‘stabilized;’ ROTFLMAO and is now down a mere 205, nincompoops! Sell in May, go away, far, far, away!

52 mins to the close of Euro markets. FHFA claims home prices are up, take that with a load of salt before the Feds confiscate it, Consumer Confidence is up, lol, and we are selling off anyway. No data is believable anymore.I don’t care anymore if TPTB are trying to scare Critters in FINREG conference or if Euro markets are taking us down, we retail investors are allllready gone!

Gee maybe some of us think the Critters and their proposed 165B bailout of union pensions and 200b bailout of teachers and states is DRAGGING US OFF A DAMN CLIFF!!

PS Gold is back at 1200….Oil back under 69 and 10 yr is all the way down to the 08 yield at crisis levels – 3.15%

Hang on Sloopy.

May 25, 2010. Tags: , , , , , . Economy, Finance, Obama Administration, Politics, Popular Culture, Taxes, Unemployment Statistics, Wall St. Comments off.

Economy: Hillary stresses importance of US Exports in Shanghai

Update: Politico has a headline piece up on what they call the Gates-Clinton Axis:


May 23, 2010. Tags: , , , , , , , , , , , , , . Economy, Finance, Hillary Clinton, Obama Administration, Politics, Unemployment Statistics, Wall St. 1 comment.

Market Movers Friday: Retail sales up 0.4%, futures still down sharply on Sovereign debt concerns, Euro drops to $1.24 vs USD, Gold pops $16 to $1245…

Markets not convinced by the 1T ponzi scheme wherein the FED and the EMU trade printed money back and forth across the pond and claim they have fixed the problem.

Great, short, spot on analysis yesterday from David Hefty of Cornerstone Wealth Management. He forecasts a DOW pop and then a collapse later this year to DOW 5,000. He cites all the concerns the street (and MiM!) are feeling. And of course there is a denial consumed Bull in the segment too:

Vodpod videos no longer available.

Retail sales popped 0.4% in April after being up over 1% in March and they have a deluded retailer on saying the American consumer has recovered and she wants a new pair of Jimmy Choos. BWAAAAHAAAAAA!!!!!

AS -IF!!! Frakkin maroons! He is claiming people earning 75k up is CORE OF MALL BUSINESS and is fine with UE. He is INSANE! Bill Taubman COO. BWAAAHAAAA!!!!! Ahh man that was a good one!

He says HOUSING PRICES ARE STABLE!!!! BWAAAHAFRAKKINHAAAA!!! Ahh man they really slay me these people.

In other NO SHXT! news the WSJ reports the massive US bailout ‘missed Main St’:

Government funding to U.S. banks has done little to ease the credit crunch for small businesses—and the situation doesn’t seem to be improving, according to a new report.

The value of large banks’ loans to small businesses shrank 9% between 2008 and 2009, more than double the 4.1% drop for overall lending, said a report released Thursday by the Congressional Oversight Panel, a group set up to oversee funds allocated by the federal government’s Troubled Asset Relief Program.

“Big banks pulled back on everyone, but they pulled back harder on small businesses,” said Elizabeth Warren, chairwoman of the oversight panel, in a discussion with reporters.

…said that small-business lending values at the smallest banks fell by about 2.7%, compared with a 0.2% decline in their overall lending….

May 14, 2010. Tags: , , , , , , , , , , , , , , , , , . Economy, Finance, Obama Administration, Politics, Taxes, Unemployment Statistics, Wall St. 1 comment.

Gooooold! Market futures pull back as EMU bailout hype fades, Gold hits 6 month high $122…

WSJ reports on the fade the market is experiencing, (Dow futures down 80, 2 mins ahead of opening bell) as traders realize it is all downhill from here, the EU states now have to get the bailout ratified…and they have no mechanism for deciding what state gets what, when in exchange for what austerity.

…The nearly $1 trillion rescue package from the European Union and International Monetary Fund “addresses the short-term needs of funding costs, [but] it doesn’t actually do anything to address the underlying problems,” said Michael Hewson of CMC Markets in London. “It’s just sticking a band aid on a gaping wound.”…

…Credit-default swaps on Greece, Spain, Portugal and Ireland tightened for a second day. The market “is still digesting the impact of yesterday’s bailout. It has bought time…but there are still doubts on whether the peripheral countries can deliver on austerity,” said Gavan Nolan, vice president of credit research at Markit….

It is like TARP all over again but they do not have Hank, Tim and Ben free to do as they will. Perhaps a blessing in disguise, lol….

Goooooold! You know what that means…

May 11, 2010. Tags: , , , , , , . Economy, Finance, Politics, Wall St. 1 comment.

It’s a dead man’s party! – QE goes global: Euro zone central banks buying govt bonds..


Euro zone central banks have started buying government bonds, Germany’s Bundesbank said on Monday.

Ride Zombie Bull, ride..

May 10, 2010. Tags: , , , , , , , . Economy, Finance, Politics, TARP, Taxes, Wall St. 1 comment.

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