When Poor People With Bad Credit Buy Homes; Oh California!
Funny cartoon on the Big Picture. And a graphic that goes along with it from Fortune.
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Now We Find Out What’s What
The stock market rally stalled today on a number of interesting and important developments. The front page of the WSJ (subscription required) announced that Bank of America was making a $2 billion investment in Countrywide Financial (CFC), that nation’s largest…
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Article: “Is WaMu The Next Countrywide?”
I saw Philip van Doorn, TheStreet.com’s Bank Analyst, on CNBC’s Street Signs about an hour ago and I went and read his informative article “Is Wamu The Next Countrywide?” He has some very interesting numbers. The one I found most…
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A Couple Of Relatively Quiet Days On Wall Street
On Monday we had a mid afternoon swoon as the impetus from the Fed move began to wear off. But markets recovered on news of a Tuesday morning meeting between Bernanke, Treasury Secretary Paulson and Senate Banking Committee Chairman Christopher Dodd….
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Judge Rejects FTC’s Appeal To Hold Up Whole Foods/Wild Oats Merger
Yesterday after the close the federal judge overseeing the FTC’s request for a preliminary injunction against the Whole Foods/Wild Oats merger rejected the FTC’s case. The FTC now has until noon on Monday to appeal the ruling. If they don’t,…
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Uncle Ben To The Rescue
When I went to bed last night around midnight PST it looked like Friday was setting up to be a bad day. Japan had crashed – down 875 points or 5.42%. Europe had opened lower and looked poised for a…
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The Trend Is Your Friend – Until It Isn’t
The fundamental tenet of technical analysis (i.e. chart reading) is “the trend is your friend”. Now, I think there’s a lot to this. Trends tend to be based on economic and financial forces. As long as those forces remain in…
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Sometimes Stocks Go Down – For A Long Time
I’ve been reading a lot of commentary and watching a lot of pundits on CNBC today and of course the “don’t panic”, “this is a buying opportunity”, “keep a long term perspective” crew is out in droves. These guys come…
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“Global Boom” Stocks Lead Market Down Today
Everyday I try to discern the “message of the markets” by looking at the performance of the various sectors: financials, consumer staples, consumer discretionary, technology, energy, basic materials, industrials, health care and utilties. Checking up on the sectors today revealed…
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Dow Poised To Close Below 13,000 – Down 1,000 Points in 19 Trading Days
The Dow is poised to close below 13,000 today for the first time since April. It took about 3 months to get from 13,000 to 14,000 – and it looks like it’s only going to take 19 trading days to…