Mr. Market is certainly bi-polar these days. On March 6th the AAII sentiment figure recorded its lowest reading ever at 19% bullishness. Just 2 weeks later the sentiment reading is [ … ]
EARNINGS ARE STILL DISASTROUS
Q4 earnings are finished and boy was it a disaster. Total net income fell 20% in 2008. The devastation was broad based and expected to worsen in 2009. Analysts are [ … ]
DOES THE UPTICK RULE MATTER?
The market spiked another 1% this afternoon (on top of its morning gains) after Barney Frank announced the likelihood of the SEC repealing the uptick rule next month. Many market [ … ]
CITI “PROFITABLE” IN JAN & FEB
Vikram Pandit is out with a memo to employees saying the firm experienced it’s best quarter since 2007. He continues by saying the firm’s capital is “strong”. The stock is [ … ]
BANKS & OIL UP, MARKET DOWN?
Interesting divergence today as banks and oil trade higher and the overall market trades down. Banks and oil have been the tell since the beginning of this bear market. I [ … ]
8.1% UNEMPLOYMENT RATE
Big headline there. Total job losses were 651k – almost exactly in-line with expectations. It should be interesting to see how the market deals with this. Update: The rate of [ … ]
THE FOUR LIDS ON THIS MARKET
Four topics continue to dominate the market action. In my opinion, the market is destined to remain range bound or under pressure until we get some clarity on the these [ … ]
FADE THE STIMULUS BILL?
Every major political action of this bear market has provided a pop for the market followed by a major sell-off. The original Bush stimulus plan, the election, TARP I, etc. [ … ]
SUSPEND MARK TO MARKET?
Our politicians are becoming more and more predictable. Last week I said: “My guess is the government will suspend mark to market or try something else that circumvents the real [ … ]