Market Recap: Explosive Rally…Yawn

The Reformed Broker, AKA Pedro Cerrano, here with today’s Market Recap… Either the bulls brought their “A” Game or the bears forgot to set their alarms, ’cause the action today was up from the open, with the DJIA up roughly 2% all day.  Here’s the 3:30 look at the Dow: As of the close, we…

This Just In: Over 100 Applicants for PPIP

Treasury Announces Receipt of Applications to Become Fund Managers under Public Private Investment Program Washington, DC — The Treasury Department today announced the receipt of more than 100 unique applications from potential fund managers interested in participating in the Legacy Securities portion of the Public Private Investment Program (PPIP).  A variety of institutions applied, including…

Welcome To El Centro, CA – The Unemployment Capital of America

The Wall Street Journal dug into the just-released stats from the Labor Department, including March unemployment figures for 310 metropolitan areas.  From WSJ: El Centro, Calif., is again at the top of the list, as unemployment there hit a jaw-dropping 25% in March. Where and what is El Centro, California?  Its the county seat for…

What Has Been Working So Far in '09

My colleague JC just sent me the below graph, a helpful reminder of which sectors have been over- and under-performing so far this year… So far, the best groups since the start of the year have been techs, materials, consumer discretionaries, gold and energy… Even with the incredible run since the March lows, financials are…

Morning Headlines: Swine Flu and Stress Tests

I guess there are two big stories competing for everyone’s attention this morning, neither of them positive… First up, it seems that the first confirmed Swine Flu death in the US was reported from Texas. From the New York Times: A 23-month-old child in Texas has died of the swine flu, marking the first confirmed…

Market Recap: Survivability

[youtube=http://www.youtube.com/watch?v=IL0aDXekfyM] The Reformed Broker, AKA Prince Adam, here with today’s Market Recap… Once again, the DJIA shrugged off an overnight triple-digit sell-off in the futures…this must be awfully frustrating for the apocalypse crowd.  I’m trying to stay prepared for the eventual correction of at least some of this rally, but guys who are 100% long right…

Bronx Zoo Layoffs

This is like the punchline of a bad joke… The economy in New York is so bad… “How bad is it?” It’s so bad, The Bronx Zoo is laying off 10% of their animals! From the NY Post: Layoffs in the city have spread to the animals at the Bronx Zoo.  The institution is closing…

1918 or 1976…Which Flu Are We Looking At?

[youtube=http://www.youtube.com/watch?v=sHK3oWpD5ZI&feature=related] In an article on Bloomberg this morning, Elizabeth Lopatto gives us a quick rundown of two other flu epidemics from the last century and their vastly different impact. From Bloomberg: Doctors don’t know yet if the swine flu that may have killed at least 149 people in Mexico is more like the 1918 form…

Market Recap: All Swine Flu, All The Time!

[vodpod id=ExternalVideo.816076&w=425&h=350&fv=]  The Reformed Broker, AKA Daddy Long Legs, here with today’s Market Recap… It’s Monday, so that can only mean one thing…Yes, that’s right!  A new restructuring plan for General Motors (GM)!  Maybe this, the third since January, will stick.  And BTW, they’re blowing out the Pontiac brand, which is a shame.  The action today was…

Preparing for the Swine Flu Hysteria

I didn’t want to weigh in on the hysteria just yet, but here are a few quick things to keep in mind re: Swine Flu… 1. Don’t chase stocks that are being perceived as “Swine Flu Plays” as this will almost definitely end in tears.  Here’s an example…BioCryst Pharmaceuticals (BCRX), which invariably rallies and then…