Market Comments for March 11, 20081) The Fed announced that they would accept $200 billion in triple A mortgage backed securities which is one quarter of its entire balance sheet. This was absolutely the right thing for the Fed to do. Apparently the market thinks so too, with the Dow up 417 points, the largest
Market Comments for March 10, 20081) Lehman Brothers (LEH) will imminently announce a lay off of 5% of its global work force. The stock hit a new 52 week low, down 52% in a year.2) The futures market is now discounting a 100% chance of a 75 bp Fed funds rate cut next week. I
Market Comments for March 10, 20081) Lehman Brothers (LEH) will imminently announce a lay off of 5% of its global work force. The stock hit a new 52 week low, down 52% in a year.2) The futures market is now discounting a 100% chance of a 75 bp Fed funds rate cut next week. I
Market Comments for March 8, 20081) The non farm payroll for February came in at a truly disastrous minus?? -63,000. Most analysts had been expecting gain of 30,000. Earlier months were revised down dramatically. It is the worst payroll performance in 5 years. NASDAQ and most other stock indexes hit a new low for the
Market Comments for March 8, 20081) The non farm payroll for February came in at a truly disastrous minus?? -63,000. Most analysts had been expecting gain of 30,000. Earlier months were revised down dramatically. It is the worst payroll performance in 5 years. NASDAQ and most other stock indexes hit a new low for the
Market Comments for March 7, 2008The stock market setting up for a big dump!1) Crude made it to $106 today. The short term target is now $111. Natural gas also flew to $9.90, up 30% from my entry point of six weeks ago.2) Carlyle Group in San Francisco failed to meet margin calls on fixed
Market Comments for March 7, 2008The stock market setting up for a big dump!1) Crude made it to $106 today. The short term target is now $111. Natural gas also flew to $9.90, up 30% from my entry point of six weeks ago.2) Carlyle Group in San Francisco failed to meet margin calls on fixed
Market Comments for March 6, 20081) Oil jumped $5 to $104.65 and Natural Gas to $9.90 on an unexpected drop in weekly inventory figures. The chairman of Exxon (XOM) made an interesting comment today. He said that 85% of the growth of oil demand last year was in countries that have artificial price controls and
Market Comments for March 6, 20081) Oil jumped $5 to $104.65 and Natural Gas to $9.90 on an unexpected drop in weekly inventory figures. The chairman of Exxon (XOM) made an interesting comment today. He said that 85% of the growth of oil demand last year was in countries that have artificial price controls and
Market Comments for March 3, 20081) Natural Gas soared again to a new two year high of $9.61 in its race to catch up with crude. Gold flew to $991, just short of my short term target of $1,000. More concerns about power outages in South Africa.2) The Sage of Omaha, Warren Buffet, released his