[email_link] In what may be the best report ever on stock buybacks, accounting and tax analyst David Zion had this sobering comment: After reviewing the $2.7 trillion in buybacks by the S&P 500 from 2004 through 2011, “it looks like most of the buybacks by the S&P 500 over the past eight years have not yet added…
[email_link] …they keep being elected to run these states into the ground. In many cases, they lied about the pensions, the gains on the pensions, how much the pensions were and who was getting the pensions. WASHINGTON — The fiscal crisis for states will persist long after the economy rebounds as states confront financial problems…
Sorry about last night…had rolling blackouts. As soon as market closed down almost 50 yesterday, dow futures went up 50. Go figure. Einstein cant figure that crap out. Not much from yesterday…but there has been some movement in down and out areas. The good news for overall market is that the energy and…
Crappy open but market trying to come back as I write this. The SOX continues to be under pressure but going to really watch closely as it is in the area where it was defended way back last November and December as well as early June of this year. If the SOX puts…
Early movers: V and MA up nicely as their lawsuit pays out less than expected…and supposedly ends litigation against them by the retailers. Both up about 2-2.5%. C up on numbers about 3%. That’s JPM,WFC and now C reacting well to numbers. Futures are down but not by much. Retail sales number was…
The expectation is that the market has some more upside near term based on last week’s late action. Also seeing good set-ups in financials with a WFC breaking out…and not much bad happens when financials have a bid. Just keep in mind, there are a zillion reports coming out in the next two weeks and…
[email_link] The words of President Obama: There are a lot of wealthy, successful Americans who agree with me — because they want to give something back. They know they didn’t — look, if you’ve been successful, you didn’t get there on your own. You didn’t get there on your own. I’m always struck by people who think,…
[email_link] ….Claiming others not serious about the deficit. Yes…Mr. President, we know how serious you are about the deficit. Your seriousness is in your deficits that YOU created…not Mitt Romney…not the Tea Party. Only you! Does he even think no one is watching? Continued SOURCE: http://www.businessweek.com
[email_link] LOOK WHAT THEY JUST DID UNDER THE COVER OF NIGHT. THE MAINSTREAM MEDIA WILL NOT REPORT THIS. Republicans are accusing the Obama administration of unilaterally gutting welfare reform after the Department of Health and Human Services quietly notified states that they may seek a waiver for the program’s strict work requirements. HHS made the…
Combine the ok reaction in JPM and WFC with this…the rumor of the ECB buying up Euros…which jacked the market up…especially the down and out commodity areas and the down and out weak dollar plays…namely IBM. The rumor is probably true…but frankly, couldn’t care less. Markets were near term oversold. Put buying was huge yesterday…
