[youtube=http://www.youtube.com/watch?v=KakinPNRiDc] The Reformed Broker, AKA Brian Fantana, here with today’s Market Recap… The Dow lost around 130 points, but surprisingly, Bank of America (BAC), Citi (C) and the other big banks were flattish all day. Here’s where the carnage was: Laggards in Price Performance (Intraday) Office Supplies -6.40% Internet Service Providers -6.30% Resorts & Casinos…
Gold
Market Recap: BAC Hangover?
The Reformed Broker, AKA Mean Mr. Mustard, here with today’s Market Recap… As the enthusiam for Bank of America’s (BAC) Mother-of-all-Secondaries waned, the only thing left glittering was basically gold and it’s cousin silver. Will bank shareholders end up like the guy in the photo above come the celebration’s end? Here’s the 3:30 look at…
Market Recap: Seesaw
[youtube=http://www.youtube.com/watch?v=LUZa6KJhPCI] The Reformed Broker, AKA Pennywise, here with today’s Market Recap… Up open, down all day, up close. The discussion today concerned what shape the recovery may take. I have no opinion. Precious metals were getting bids all day today. Here’s what the big gold names looked like at 3 o’clock: BARRICK GOLD CP [ABX] +3.78%…
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…
Bail-ski: A Toast to the Russian Oligarchs, They're Gonna Need It
Forbes Russia just put out its 100 Wealthiest Russians lists and in the spirit of Glasnost, I thought I’d open up the discussion here. The numbers are out and the news is uglier than that thing on Gorbachev‘s head for Russia’s billionaire oligarch class… From Forbes Russia via The Guardian UK: The number…
TGIF Market Recap: 6th Straight Winning Week, Now Its On!
The Reformed Broker, AKA Sir Ticks-a-Lot, here with today’s Market Recap… OK, listen up! I want to see all the sectors who went up this week take one step forward…Not so fast Metals and Miners! The 2:30 Look: Worst Performing Industries % Change Silver -4.67% Gold -3.47% Jigginess is in the air this Spring, whether…
Market Recap: The Grouch Trade Killed You Today
The Reformed Broker, AKA The Scotch Bonnet, here with today’s Market Recap… Today’s rally was yet another face-ripper in a series of rip-your-face-off rallies. You only get these type of up moves in a brutal bear market, so enjoy the fireworks for as long as they last. You had to be long and strong from…
Fashion Meets Finance: Gold is THE Trend for Spring
If I’m on a flight and forget to bring my own reading material, I’ll pretty much read anything, even the ingredients on a candy bar wrapper. I recently resorted to sharing a nearby girl’s fashion magazine stash and about halfway through Cosmopolitan (don’t laugh), I noticed something interesting: Every fashion house on earth is doing…
Missed the Gold Rally? Now What?
Gold hit a 7 month high today, breaking $960 an ounce. The fear trade is very much alive as companies worldwide cocur that we have a FUBAR economy and probably will for awhile. On top of that, Count Porkula signed the stimulus bill into law this afternoon which basically authorizes the mass dilution and devaluation of the dollar. This in the hopes that a bullet train from Vegas to Disneyland and the building of a Frisbee golf park (not joking) will be stimulative enough to offset the economic Armageddon in our midst.
Hot Links: When Giants Clash
Hot Links for Weekend Reading Shedlock vs Schiff The big hullabaloo in Wall Street Blogland this week was the unsolicited Peter Schiff beatdown issued by Michael “Mish” Shedlock (Sitka Advisors) on his Global Economic Trend Analysis site. Mish was sick of all the “Peter Schiff Was Right” promotional videos floating around and decided to call…
