Friday, May 22, 2009

Peter Shiff & CNBC - Who's the joke on CNBC - 12:20PM

Just a little bit ago (I had to wait on the video to be posted) CNBC had Peter Shiff on talking about the dollar. Bob Pisoni, always the head cheerleader, was laughing at him while he was talking, while Trish Regan did her best to keep him from speaking. After seeing this, along with the incessant cheerleading from the clowns on CNBC over the last month or so, I only have one thing to say - you guys suck!

Pre-market Friday, May 22, 2009 - 7:55AM

Futures up a little this morning before a short session today: DJIA INDEX 8,342.00 47.00 S&P 500 893.80 5.10 NASDAQ 100 1,377.25 9.75 Economic events for today: NONE Earnings reports before market opens:

Thursday, May 21, 2009

Jobless claims for the week - 8:40AM

Jobless claims for this week - full report here UNEMPLOYMENT INSURANCE WEEKLY CLAIMS REPORT SEASONALLY ADJUSTED DATA In the week ending May 16, the advance figure for seasonally adjusted initial claims was 631,000, a decrease of 12,000 from the previous week's revised figure of 643,000. The 4-week moving average was 628,500, a decrease of 3,500 from the previous week's revised average of 632,000. The advance seasonally adjusted insured unemployment rate was 5.0 percent for the week ending May 9, an increase of 0.1 percentage point from the prior week's unrevised rate of 4.9 percent. The advance number for seasonally adjusted insured unemployment during the week ending May 9 was 6,662,000, an increase of 75,000 from the preceding week's revised level of 6,587,000. The 4-week moving average was 6,480,500, an increase of 131,000 from the preceding week's revised average of 6,349,500. The fiscal year-to-date average for seasonally adjusted insured unemployment for all programs is 5.071 million. UNADJUSTED DATA
Futures down a little this morning: DJIA INDEX 8,345.00 -50.00 S&P 500 894.00 -5.90 NASDAQ 100 1,384.00 -8.50 Event calendar today: Jobless Claims - 8:30 AM ET Leading Indicators - 10:00 AM ET Philadelphia Fed Survey - 10:00 AM ET EIA Natural Gas Report - 10:30 AM ET 3-Month Bill Announcement - 11:00 AM ET 6-Month Bill Announcement - 11:00 AM ET 2-Yr Note Announcement - 11:00 AM ET 5-Yr Note Announcement - 11:00 AM ET 7-Yr Note Announcement - 11:00 AM ET Money Supply - 4:30 PM ET Earnings reports today: Today after close:

Wednesday, May 20, 2009

Pre-market - Wednesday, May 20, 2009 - 8:00AM

Futures up slightly: DJIA INDEX 8,472.00 23.00 S&P 500 909.40 2.90 NASDAQ 100 1,396.75 2.75 Economic calendar for today: MBA Purchase Applications - 7:00 AM ET EIA Petroleum Status Report - 10:30 AM ET FOMC Minutes - 2:00 PM ET Earnings reports before open:

Tuesday, May 19, 2009

Pre-market - Tuesday, May 19,2009 - 8:05AM

Futures up moderately today: DJIA INDEX 8,523.00 53.00 S&P 500 912.90 5.80 NASDAQ 100 1,393.00 4.50 Today's economic calendar: Housing Starts 8:30 AM ET Redbook 8:55 AM ET State Street Investor Confidence Index 10:00 AM ET 4-Week Bill Auction 1:00 PM ET Gary Stern Speaks 1:15 PM ET Earnings reports before open:

Monday, May 18, 2009

Market wrap - Another rocket upward - 4:10PM

The market opened up nicely, and continued climbing thoughout the day. Now for the quiz. Which sector do you think led this rally today???? By the way, it is a "new BULL market" because the shrills on CNBC said so. Dow 8,504.08 +235.44 (2.85%) S&P 500 909.71 +26.83 (3.04%) Nasdaq 1,732.36 +52.22 (3.11%) Gold 922 -10 -1.03% Oil 59.25 +2.69 4.75% (oil up because of pipelines blown up in Nigeria & refinery fire in PA) Or maybe because the Memorial Day holiday is coming up - peak driving season. Leaders by sector: Quiz answer above - The financials. Are you surpised? Not me. The bank index (BKX) was up $2.85 or 7.78 percent The volatility index almost broke the 30 barrier and closed at 30.05 -9.21 percent. Just for kicks: General Motors(GM) (the one going bankrupt) closed at $1.18 up +0.09 or 8.26% Ford(F) who DOESN'T need any money closed at $5.50 up +0.01 cents or 0.18 percent. Today's heatmap:
CNBC cheerleading grade for the day - A+ Simply, they all creamed their jeans today. From 7am to when I created this post they slobbered, shrilled, cheerlead, you name it, this market today. Many times calling it the new "BULL" market even as the home builders number came in at 16 or 18 or whatever sad number that was. That's 16 or 18 on a scale of 100, with 50 as the breakeven line for growth vs. non-growth. So we ticked up 2 points - big deal. Larry Kudlow the crazy, screaming, overtalking shrill is now officially on mute. Can't stand the lunatic hour of him acting like the complete crazy man he is. What a complete waste of an hour on TV. Of course the entire channel is getting worse by the day. CNBC - you are a disservice to your listeners and are borderline criminal with your reporting of nothing but good news and the buy, buy, buy attitude. You suck!

Pre-market open - Monday, May 18, 2009 - 8:00AM

Futures up slightly this morning at 8:00AM DJIA INDEX 8,303.00 +36.00 S&P 500 888.10 +5.10 NASDAQ 100 1,362.75 +8.50 Several banks have been upgraded by GS but I missed which ones. Why? Have they found a money tree or something? Yea, probably the government. Economic calendar for the day: Monday: 11:00AM - 4-Week Bill Announcement 1:00PM - Housing Market Index 1:00PM - 3-Month Bill Auction 1:00PM - 6-Month Bill Auction Earnings reports before open: Earnings reports after close: