Top of the Morn to Ya…

Happy St. Paddy’s Day!  Let’s hope for a little luck of the Irish to motivate our markets to better performance. 
Yesterday the markets gave back a triple digit gain as the close approached.  This is not a sign of strengthening of the markets.  It seems to indicate we are approaching an overbought period shortly after [...]

The Genius of GM…

Last week was a great week for the markets.  The first up week we’ve witnessed this year.  Phone calls are flooding my office asking is this the time to get back in.  My reply, not yet.  Let’s wait this out a little longer.  Remember, core problems that created this mess we call our present economy haven’t [...]

Monday Redux…

Today’s posting is late due to an extended stay in the repair shop for my car. Turns out the extended warranty that we purchased served only the purpose of making the car dealer more profit. Turns out the warranty covers nothing we were told. It’s hard to have too much sympathy for the car companies [...]

Thursday Thumping…

Yesterday was actually a fun day to witness.  Unfortunately, the brief rally was nothing more than a sucker’s rally.  These head fakes are historically known for teasing investors back into the markets only to have their investments smashed.  Today is not different.  The markets have taken a drastically lower tone and little promise of improvement [...]

AIG Revisited…

Welcome to Meltdown Monday which comes on the heals of Freefall Friday.  Seems like a repetitive pattern we revisit too often.
AIG is back in the news.  No surprise to anyone.  The government has agreed to provide another 30 billion dollars for AIG to loose to poor management and bad investment philosophy.  As a point of [...]

GM…

Finally, the morning opening appears to show encouragement.  Futures are significantly up and seem buoyant with stability for a welcome change.  The last few days have given a grim reminder to the lack of positive prospects for Wall Street.  Today may be a day to take profits from short term trades in banking.
Job claims came [...]

AIG is back…

Looks like someone pulled the plug and drained the pool yesterday.  The 250 point plunge came rather unexpectedly and hit the markets smack in the face.  Monday’s close represented the lowest water mark for the Dow since 1997.  Some records should not be broken. 
AIG is back in the news.  After receiving 150 billion dollars in [...]

Judd Gregg…

I’m certain my limited vocabulary will not explore the depths of disgust I presently have for Sen. Judd Gregg of New Hampshire.  Quick review, Gregg was Obama nominee for the cabinet position of Commerce Secretary.  Why this is so frustrating is Judd was one a few republicans chosen for the new administration.  This was an [...]

And We Wait…

Today the markets reflect on the information afforded them by Treasury Secretary Geithner.  The take away was minimal for most traders and observers alike.  The markets need direction and presently, direction on Wall Street comes from Washington.  The effort by Geithner and his team was lackluster; basically stating the solution is beyond any immediate fix.  [...]

That’s it?

Geithner’s presentation of the new Bank Recovery Plan was poorly received by Wall Street.  He over promised and under delivered.  Wall Street was looking for a dramatic guesture and instead got a whispered promise.
Seems like the presentation wasn’t finished and it was delivered anyway.  Better to do nothing than do something halfway.