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.