Monday, July 20, 2009

Market wrap - 4:15PM

This rocketship of a market continues, on no volume of course. But maybe the upgrade from Goldman Sachs this morning had something to do with it. Dow 8,847.93 +103.99 (1.19%) S&P 500 950.97 +10.59 (1.13%) Nasdaq 1,909.29 +22.68 (1.20%) Gold 949 +11 +1.21% Oil 64.33 0.42 0.66% Today by sector: Today's heatmap: Tomorrow morning earnings:
Any minute now, CNBC will have Nouriel Roubini on to explain his call last week "the recession will end by the end of the year" that CNBC made, which drove the marke up that day. Roubini later came out and said he never said that. In case you are not familiar with Roubini, he is known as Dr. Doom, for forecasting this crisis back in 2006. He has been mocked repeatedly by CNBC over the last year, and quite often and increasingly worse in the last few months. The new main pumper of Fast Money, Joe "buy everything in sight" Terranova took another shot at him today when he said something to the effect "I am long whatever Roubini is short" or something like that. Screw you Joe, you have the credibility of a turd. I will post the interview if they put in on their website. Watch for the earnings reports from Texas Instruments after the bell today. The spin doctors will use this tonight and tomorrow to pump this bullshit market even higher - if anyone other than Goldman Sachs is trading it.

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