Market Recap: Build-a-Bank

[youtube=http://www.youtube.com/watch?v=egT8-06AcSY]

The Reformed Broker, AKA The Pastrami King, here with today’s Market Recap

OK stocks and sectors, take one step forward if you were lookin’ good during today’s market melt-up…

Not so fast, Newspapers!

The 3:30 look at the Newspaper Sector:

Laggards in Price Performance (Intraday)
E W SCRIPPS CL A [ssp] -9.46%
A.H. BELO CORPORATIO [ahc] -9.30%
GANNETT CO INC [gci] -9.07%
MEDIA GENERAL CL A [meg] -5.99%
JOURNAL COMM INC [jrn] -5.96%
N Y TIMES CL A [nyt] -5.83%
WASHINGTN POST CO B [wpo] -4.53%

The modern-day buggy whip group was rocked once again today, they literally cannot justify their existence at this point.  Oh well.

JPMorgan (JPM) was able to raise $5 billion overnight and pretty all of the banks talked about paying off TARP this month.  Let’s hope so.  In honor of the banks, the above video is a throwback to when lame rap was used to sell toys to kids my age.   Enjoy the Build-a-Bank commercial and guess the year:  “Put Money In It“…LOL!

It was a mildly positive day for many stocks with the Dow up a bit going into the close.

Thanks for reading today, have a great night!

Full Disclosure: I am currently long JPM for customer accounts.  Do not trade or invest based on anything you read here.

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  1. Translator commented on Jun 03

    It’s interesting that even in that video, it puts banks together. This is a lot like how banks acquire other banks today and become even bigger banks. When banks become bigger, don’t they become even more “too large to fail?” We need to have size limits on corporations.

  2. Translator commented on Jun 03

    It’s interesting that even in that video, it puts banks together. This is a lot like how banks acquire other banks today and become even bigger banks. When banks become bigger, don’t they become even more “too large to fail?” We need to have size limits on corporations.

  3. Translator commented on Jun 03

    It’s interesting that even in that video, it puts banks together. This is a lot like how banks acquire other banks today and become even bigger banks. When banks become bigger, don’t they become even more “too large to fail?” We need to have size limits on corporations.