[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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