Market Comments for April 3, 20081) Two days of Bernanke testimony in Congress come to a close. These are like watching the most brilliant professor in the school give a lecture and the Q & A is done by only the dumbest students in the class. Listening to Alan Schwartz, the CEO of Bear Stearns,
Market Comments for April 2, 20081) A $7 dollar rise in crude to $105 from the Monday lows put the stock rally on hold. This despite a near record 7 million barrel weekly increase in crude stocks announced this morning. Go figure. The Fed also hinted that it may pause its interest rate cuts to
Market Comments for April 2, 20081) A $7 dollar rise in crude to $105 from the Monday lows put the stock rally on hold. This despite a near record 7 million barrel weekly increase in crude stocks announced this morning. Go figure. The Fed also hinted that it may pause its interest rate cuts to
Market Comments for April 1, 20081) UBS announced $19 billion in sub prime write offs and a $15 billion equity infusion. Their illiquid toxic waste will be spun off into a separate entity. My old boss, chairman Marcel Ospel, will retire in shame. This is what sparked the 391 point rally on Wall Street. Total
Market Comments for April 1, 20081) UBS announced $19 billion in sub prime write offs and a $15 billion equity infusion. Their illiquid toxic waste will be spun off into a separate entity. My old boss, chairman Marcel Ospel, will retire in shame. This is what sparked the 391 point rally on Wall Street. Total
Market Comments for March 31, 20081) The market staggered to a close for the quarter, bringing in the worst quarterly performance in 5 years. Brokers were down 25%, technology down 16%, and banks were down 9%. Homebuilders, which have been savaged for two years now, were unchanged. Drug stocks, normally a safe haven, were down
Market Comments for March 31, 20081) The market staggered to a close for the quarter, bringing in the worst quarterly performance in 5 years. Brokers were down 25%, technology down 16%, and banks were down 9%. Homebuilders, which have been savaged for two years now, were unchanged. Drug stocks, normally a safe haven, were down
Market Comments for March 20, 20081) The major story today was the continued melt down in the commodities markets triggered by the increase in margin requirements on Sunday night.?? Most commodities are down 10%-20% on the week, with silver down 20% in one day. This was long overdue and is opening up windows for late
Market Comments for March 20, 20081) The major story today was the continued melt down in the commodities markets triggered by the increase in margin requirements on Sunday night.?? Most commodities are down 10%-20% on the week, with silver down 20% in one day. This was long overdue and is opening up windows for late
Market Comments for March 19, 20081) As I suspected, the first sign of stock buying precipitated a major sell of in commodities. The moves down from the Sunday night highs have been breathtaking. Crude is down from $111 to $103. Natural gas dropped from $10.40 to $9.10. Gold has had its worst day in five