The Reformed Broker, AKA Sam the Butcher, here with today’s Market Recap…
Holders of Sears Holdings (SHLD) can celebrate like the Brady’s today in the above video:
“Put on your Sunday best kids, we’re going to Sears!” – Mike Brady
The retailer without a purpose came out this morning with an unexpected profit, albeit one that came on the back of contraction and expense cutting. Here’s a peak at the 5 day chart for Sears Holdings:
In other news, the bankruptcy announcement today of BankUnited, a $4.9 billion hit to the FDIC’s balance sheet, didn’t much faze the markets today. Nor did Pimco‘s warning that the US Government could lose it’s Triple A rating.
They also shrugged off the doomsday countdown for General Motors (GM) as sources expect a Chapter 11 filing by as early as next week. GM’s could be the most telegraphed BK in history!
It’s about 80 degrees and sunny today here in the Big Apple, and we’ve got a 3 day weekend ahead of us, so all of this negativity can wait.
In the meantime, make like Marcia, Jan, Peter and the rest of the Bunch and enjoy the Sunshine Day!
Thanks for reading, tune in this weekend for Hot Links and more right here on The Reformed Broker.
Full Disclosure: I currently manage accounts that are long GM and SHLD. Do not trade or invest based on anything you read here.