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.

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

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

Market Update: BIG 3 Reprise on the Hill….LIVE testimony..

UPDATE 3: 3:36pm EST: 24 mins to the closing bell and the markets are down sharply. DOW down 302 to 8289; NAS down 65 to 1427 and S&P down 36 to 824. The autos are off a cliff since the negative tone of the Banking Cmte and tomorrow’s November jobs report is expected to be an utterly unmitigated disaster (that is my expectation anyway HA!). GM is down 17% now and bringing the DOW down with it… perhaps the Congress will get the message from the markets..10 yr at 2.54 50 YR LOWS….safety play still intact…

Killing the patient to save them? Robert Bennett R-UT actually suggested a FORCED merger b/w GM and Chrysler, and interestingly EVERY GOP Senator on that CMTE had the INSIDE info on the PRIVATE CONFIDENTIAL negotiations that were held last month b/w GM and Chrysler which GM pulled out of..I thought these guys didn’t like ‘socialist’ govt interventions? Now they want to write the terms of a shotgun wedding? Then Bob Corker R-TN just finished up by suggesting wage caps be a part of the deal..uhm hellooo free markets remember GOP, I thought they ABHORRED Nixonian experimentation with price controls?? I guess it is okay when they are putting the brakes on labor, pardon the pun…

Tomorrow, Part Deux when this panel appears before the House Cmte, and the BIG JOBS NUMBER tomorrow morning (cue sounds of Dragnet theme here)…

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December 4, 2008. Tags: , , , , , , , , , , , , , , , , , . Big 3, Economy, Finance, Obama Administration, Politics, TARP, Wall St. 3 comments.

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