The Morning Morsel- 11 & 22

Yesterday was another case of so many pots calling kettles black as the hypocritical charlatans in Congress played to the crowd and grabbed yet another fifteen minutes of fame.

First it was the little boys from GM who were scolded, especially for having the audacity to fly in private jets to the hearings. The heads of the five banking¬† families were also center stage months ago. Then it was Toyota, then the boys from Goldman Sachs who collectively condescended to Congress in epic fashion. Yesterday it was Hayward and his boss who really does care about the “little people”.

Hayward said “I don’t recall” or “it wasn’t my decision” eleven and twenty two times yesterday, exhibiting a lack of cooperation that rivaled the stuffed shirts from Goldman. I hope the broken men and women felt like their mission was accomplished. I for one felt dirty and sad that these folks make decisions for my country.

Not much data on tap today and options expire, there will be volume but not necessarily any good action.

We’ve had a nice week on the Premium Site with winners that included CRUS +4.8%, FFIV +2.4%, OVTI +9.8%, BTU +3.2%, ASPS +2.8%, ULTA +4.7%.

Have a great day trading and a great weekend.

Friday, June 18, 2010
Economic
08:30 Canada May Leading Indicators
10:00 Mexico rate decision
Events
Trades Ex-dividend: HSY $0.298.
Earnings
None seen
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