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.
Funny cartoon on the Big Picture. And a graphic that goes along with it from Fortune.
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…
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…
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….
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,…
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…
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…
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…
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…
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…