Just look at the breadth 12 minutes into the trading session.. wow..
http://screencast.com/t/C0HvdiA53
Thursday, September 11, 2008
Sunday, September 7, 2008
Washington Mutual CEO Ousted: WSJ Report
Another one bites the dust! Reports from the Wall Street Journal indicate that Washington Mutual (WM) are ousting their CEO, Kerry Killinger, this evening. Seems like as the government is doing some housekeeping, some of the other financial instituions are as well. Tomorrow’s going to be extremely interesting in terms of market action. Now I’m thinking we will see a 300-400 point rally tomorrow and it may actually stick. How long this governement induced rally sticks is anyone’s guess. I don’t think more than a couple of days but you never know.
For those of you who went long at the close Friday, congrats! Next time, share that inside info with the rest of us 
Fannie Mae, Freddie Mac Taken over by Regulators
Ooooh boy. Let the fun begin. I’m watching the 11am news conference by Hank Paulson. More info once its released.
Update: Here’s the shortened version of the story as I see it. The government’s taking over Fannie and Freddie, removing the CEOs of both companies, and eliminating both preferred and common dividend. By eliminating the dividends, I don’t think there’s any interest in holding the stock. Does that mean that FRE and FNM are headed to zero Monday? My guess would be yes but you never know.
The fallout from the takeover may result in a nice little pop come Monday. But I’d have to agree with everyone else out in the blogging financial world. The rally will give great opportunities to short the market and stocks in general, but I can’t see it lasting. What the government’s done is effectively made the public foot the bill. On top of everything else, I don’t see how the public can afford any more debt. Just wish the public would assume my student loans…
Tomorrow should be a fun day. Dow +300 tomorrow? Nah. I think the bears squash the rally tomorrow. I’d even be inclined to say we fall hard the latter half of the trading day tomorrow. But in a bear market, anything goes.
Personal update: PhD qualifiers are Sept. 20th. Once the 20th comes and goes, I’ll be back full time. Hopefully in good spirits.
Tuesday, August 19, 2008
Another New Design
It’s the end of the summer and apparently this is usually the best time to update blog designs and stuff. So here ya go! I tend to like this one a bit better than the old one. Looks a bit cleaner and much easier to maintain. Anywho, I do apologize for not being around much but there’s just too much **** going on at the moment. If it doesn’t involve my PhD, it’s essentially gone to the back burner. I’ll try and squeeze in a post or two by the end of the weekend, I swear!