Market Update: Rally into the close DOW up 97….

DOW up 96.53 to 8500.33

NAS up 22.54 to 1774.33

S & P up 12.32 to 919.15

This rally is just…The Heat of the Moment…

Hit it Dean!!!

Created by HeroPetrelli

GOLD still on a tear up 17.6 to 979.1

Oil too, up 1.31 to 66.39

10 yr pulled all the way back to 3.45% , based on talk out of PIMCO, the Fed isnt riding to our rescue anytime soon, anyone waiting for a 3% 30 yr may want to get their refi apps in now and get happy with any rate under 5%…that Making Home Affordable program for refis ends in June of 2010 I believe, way ahead of the modification program…I will get a post up on that next week…

in the interim go to MakingHomeAffordable.gov for details….

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May 29, 2009. Tags: , , , , , , , , , . Politics. Comments off.

Outlook From the Bond King – CNBC.com

Mohamed El-Erian of Pimco on the future of the economy….

a PRIVATE SECTOR LED ECONOMY to reduce unemployment he advises, gee what a novel idea!! Notice the yields on the 10 yr Mohamed references….

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May 27, 2009. Tags: , , , , , , , , , , , , , , , , , , , , , , . Economy, Finance, Labor Department, Obama Administration, Politics, Taxes, Uncategorized, Unemployment Statistics, Wall St. Comments off.

Market Update: Giving back some gains….

22 minutes to Closing Bell…

DOW down 143 to 8369

S&P down 17 to 902

NAS down 53 to 1705

If some feisty group of bondholders doesn’t find the guts to fight the encroaching government all the way to the Supremes we are heading right off a cliff….

TOTUS and Timmeh are doing a frakkin Thelma and Louise with our economy..

May 7, 2009. Tags: , , , , , , , , , , , , . Economy, Entertainment, Film, Finance, Obama Administration, Politics, Popular Culture, TARP, Taxes, Uncategorized, Unemployment Statistics, Wall St. 1 comment.

Market Mover Wednesday: BofA needs 34b but shares rise anyway…

M’kay….

As a shareholder I am all WTF?!?!?

Feds say we need to raise 34Billion and the shares are UP? WTH?

Where are we going to get 34 b? the markets? HA! HA!!

The government is going to convert to common equity and DILUTE US ALL TO HELL! WTH WOULD SHARES RISE ON THAT?

Makes no sense whatsoever…

CNBC:

Bank of America’s need to close a $34 billion capital gap wasn’t as bad a scenario as some on Wall Street privately feared, (Well WTH did they fear if 34B wasnt bad? I thought we needed like 15 or 20b!) sending shares sharply higher.

The company’s stock initially sank on fears that the capital needs would be dilutive to shareholders.

But traders instead focused on the importance of getting clarity to the numbers and a pervading sense that BofA could use other means to raise capital that wouldn’t necessarily be dilutive to shareholders, market sources said. Shares gained more than 10 percent before the opening bell.

They should just say, “but traders who are in deep frakkin denial are glad it wasnt a trillion” for all the sense this market action makes….this while Judge Garcia orders the Chrysler debtholders names released by noon EST today despite death threats..hang in there baby fight for the free market system, for all of us…..

Like Frida said baby I know there’s something going on and it aint good

May 6, 2009. Tags: , , , , , , , , , , , , , . Big 3, Finance, Music, Obama Administration, Politics, Popular Culture, TARP, Taxes, Uncategorized, Wall St. 1 comment.

Obama Budget Framework Passage Update..Cap and Trade Delayed..Sebelius Vote Cancelled….Market Update: FASB sends averages higher..Go Gadget Go!

Update from WSJ  on Obama Budget Framework passage in Senate /House:

Here is the money quote on the Senate Amendment on FED loans, it does not have the force of law but it certainly puts the kaibosh on feeling the war on capital is over IMO….the HUGE IRONY is it is our only socialist, Bernie Sanders of VT demanding they NAME NAMES, BWAAAAHAAA!!! Through the Looking Glass baby!

One amendment approved by the Senate would require the Federal Reserve to disclose the companies that have benefited from Fed programs aimed at reviving the banking system. “We need to name names,” said Sen. Bernie Sanders, a Vermont independent and chief sponsor of the measure.

Looks as though cap and trade was thankfully saddled with a nonbinding provision to not go through reconciliation so we will have warning next time it rears its ugly carbon  hating head….

they removed the TARP funds so Team Obama will have to come back for more later, good luck with that after the WE HATE BANKERS campaign…

And healthcare is still being debated..the scary thing there IMO is they are, like the stimulus,  leaving it seemingly blank open to discussion, but IMO it is because they don’t want to tell us about rationing at this point b/c Americans will stop the plan before it gets off the ground once they understand the government panel on efficiency or whatever the hell they call it…we need to keep an eye on that one..

Also interesting the scheduled vote on Sebelius WAS CANCELLED in committee an unnamed GOP Senator is blocking the vote, YAY! Make a call to a Senatorial critter near you, no more tax evaders making policy and telling us to sacrifice, it isn’t THAT much to ask for is it?

Contact your Senator here

(more…)

April 2, 2009. Tags: , , , , , , , , , , , . Economy, Finance, Obama Administration, Politics, Popular Culture, Taxes, Uncategorized, Wall St. Comments off.

Market Update: Averages close lower…

wall-street2

We gave some back, naturally, after yesterday’s big gain…no bombs dropped in the hearing today with Geithner and Ben, I think markets are holding their breath and waiting to see what the ‘tone’ of TOTUS address tonight is as well as what direction the Crazed Critters and the Crippling Budget take..

IMO they are going to try to push this cap and trade through – TOTUS loves him some green, he sees it as his legacy, LOL, 65 days in, economy in the shixxer and TOTUS is going to kill all production to burnish his future statuary….

DOW closes down 115 to 7660

S & P down 16 to 806

NAS down 39 to 1516

GLD pulled in quite a bit in two days, down 26 today to 925, almost low enough for MiM to pull the trigger again;

MiM mantra is that everyone should have some insurance in their portfolio in GLD either via an ETF or physical shiny stuff in your safety deposit box…we are more conservative than most in that we want 20% in GLD but surely no one is denying you need to have some GLD at this point…hey dont call me shirley..

MiM will NOT be watching TOTUS live, LOL..we will cover the reviews manyana..We do not want to be exhorted to do our part and be a bridge over troubled waters after they lambasted executives last week….or hear the calls to tax all carbon or cost contain medical treatment..not after the CBO estimates, it’s completely irresponsible to stick to this budget plan and they know it….frakkers

Marty Feldstein was all over it again today..suggesting recession will last well into 2010, which is the MiM call, Yeah I’m a negative Nelly so sue me….

The recession in the United States will stretch well into next year, probably raising the need for another fiscal stimulus package at least as large as the first one, prominent economist Martin Feldstein said on Tuesday.

Feldstein, a Harvard University professor who is a member of President Barack Obama‘s Economic Recovery Advisory Board, told Reuters that the stimulus would offset only a relatively small piece of the likely fall in spending, exports and construction.

“I’m afraid that the economy will continue to slide down well into next year,” Feldstein, a former head of the National Bureau of Economic Research, said in an interview in Beijing where he was attending a conference.

“I don’t know when it will end, but the forecasts that it’ll end later this year I think are too optimistic,” he said of the recession…..

March 24, 2009. Tags: , , , , , , , , , , , , , . Economy, Obama Administration, Politics, Taxes, Wall St. Comments off.

Market Update: Dow climbs 497…

woohoo! Dow up 497 to 7775, S&P up 54 to 822 (closing above that 800 level) and NAS up a cool 98 to 1555..

March 23, 2009. Tags: , , , , , , , , . Entertainment, Finance, Housing, Music, Popular Culture, Wall St. Comments off.

Existing Home Sales Way Up, 5.1%-DOW extends gains..up over 250…

Mary Jane Girl Video Sound update, LOL

Yowsa! Prices are down and buyers are comin in baby!! Averages doubling gains on the news..DOW up 258 to 7537; S&P up 28 to 796, NAS up 47 to 1505….

Everyone expected a drop..

The pace of sales of existing home in the U.S. rose 5.1 percent in February to a 4.72 million-unit annual rate, rebounding from the previous month’s drop, while home prices fell again, the National Association of Realtors said on Monday.

The median national home price declined 15.5 percent from a year ago to $165,400. That was the second biggest decline on record.

March 23, 2009. Tags: , , , , , , , . Economy, Housing, Music, Popular Culture, Wall St. 2 comments.

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