The Morning Morsel-It’s Getting Too Easy

Ben Bernanke was asked to leave a tony west side cocktail party last night as he was overhead saying “depression” and “extended period” too much. Guests thanked him for the improvement in their 401k’s this year, but asked that he not return. One person said “there’s just not enough Grey Goose” to tolerate Ben. I think it was Geithner.

Stocks go higher as we stay Japan, and extended period seems to imply a six month period of time according to one Fed governor. So do we crash now as the market “always discounts things six months in advance?” I so hate that logic-always have, there is still no playbook for this market. Quite simple actually, follow momentum until it stops. The philosophers and pundits that got caught leaning are all penniless now. Roubini, Whitney and Rosenberg are back page news, they had their special time.

Have fun and enjoy. Relish the winners, the losers will come. Problem is, everyone is a bull market genius right now. Enjoy the rip.

Wednesday, March 17, 2010

08:30 Feb PPI, Feb Feb PPI Ex Food & Energy
10:30 DoE Crude Oil/Gasoline/Distillate Inventories
Brazil rate decision. 16:00 Fed’s Fisher to speak about learning from the crisis. 07:30 FDA Pharmaceutical Science and Clinical Pharmacology Advisory Committee Meeting. JP Morgan Gaming, Lodging, Restaurant & Leisure Conference. Jefferies Global Cleantech Conference. DFS Analyst Meeting. 07:00 MBA Mortgage Applications. Trades Ex-dividend: CB $0.37.
Before the Open: ATU, WNI, SMTS, TNP. After the Close: CLC, GES, MLHR, IHS, NKE, STRI.

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