BP has evolved from dropping massive concrete cones, to Topkill, to golf balls,to shredded tires and junkshots to clog the endless flow of oil in the Gulf. The AP is reporting that Aquaman and possibly Bazooka Joe are on deck to help save the day.
The DOW had its worst month of May since 1940, losing about 7.9%, the S&P lost 7.95%, Nazzy 7.4% and the Russel lost 7.5%. Oil was up over 5.6% for the week but lost 14% for the month. Gold moved up about 3% and the greenback rallied about 6% as Europe failed, Spain was downgraded by Fitch and Norh Korea threatens all at war with South Korea.
So what happened on Fast Money last week? I haven’t watched in maybe eight months but needed some new material for the blog so I forced myself to watch a few episodes. It may become a guilty pleasure for me who knows. The worst reality show on television beats this show hands down, at least I feel more educated after I watch The Real Housewives of New Jersey.
Karen “of” Finerman still looks like she’s on a Valium drip and still plays everything it seems though “calls”. She must have $12 under management. Tim “of” Seymore incessantly barks out multiples to book value and forward earnings as if that has mattered since before November 2008. He is clueless to the fact that all fundamental playbooks have zero meaning when Rome is burning and only fear is the equalizer. Joe “of” Terranova who should be driving a minivan for Domino’s, keeps barking out stock buys like a carnival freak and Guy “of” Adami seems to wink and nod to himself as he keeps cashing his check and may be the only sensible one, as he does have fleeting moments of clarity. Doug “of” Kass pops in on occasion, but usually on “up” days after he has called yet another incorrect bottom and opines that we will now have a 100 point range on the S&P. That is as valuable to you as the weatherman saying we “will have weather” tomorrow. I do enjoy Dennis “of” Gartman, he has skin in the game and usually makes good sense. You will also learn some King’s English. I should be OK now for another six months.
It was yet another very profitable month on my Premium Site and I will post performance when it is ready. Subscribers get real time updated performance every night on the site so become a member if you would like to see what we’re doing.
Enjoy the long weekend and the links.
Lessons from the “flash crash” of 1962.
Oligarchs on the run. When buying a sports team is tantamount to the witness protection program. I buy it.
Lloyd’s $26 million crib.
Finally after 100 years, Mark Twain’s autobiography.
Carville goes rogue.
The week in ETF’s
Historical Memorial Day week performance.
The IMF’s big challenge.
The S&P tests one year moving average.
Looking for your stock to get bought out this weekend? Don’t count on it.
Starr swindler, another Madoff
VF’s beach beauties.