We are likely to see a bounce fairly soon but it will only be a Dead Cat Bounce in a new bear market. Indeed, based off the futures it looks like bulls are going to buy the open this morning…
The catalyst for today’s rally is the rumor that the Obama Administration is in the process of putting together a bad bank proposal to buy up bad assets from financial institutions. The financials are crushing today with the XLF up…
We have experienced the brief euphoric one-month “pop” phase of the typical equity market recovery from a bear market low (27% rally from 667 to 850), endured the characteristic several-month long range-bound “stall” period (10% range from 850 to 940),…
Washington Mutual (WM) issued quite a press release after the close yesterday. Here is what they said they are going to do to shore up their capital base and their business: Cut their quaterly dividend from 56 cents to 15…
Financials are dragging the market down again this morning and I think it has to do with a story in this morning’s Wall Street Journal which is the most highly read on WSJ.com: “Wall Street Gears for Its New Pain:…
We never believed the investment of taxpayer funds was intended to be permanent. We view it as our duty to return the funds. – Goldman CFO David Viniar on a conference call this morning Paying back TARP (Troubled Asset Relief…
