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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