The Morning Morsel: What a News Day It Was

What a wild day it was yesterday. So much for the summer doldrums. Traders started the day waiting for the number from JPM which I guess was just OK, then more AAPL news, then BP caps the leak, then the SEC hits the tape with a macabre announcement of a “significant announcement” after the close.

The drillers got squeezed, so did GS and the financials and the market took off. I’m sure the announcement on the GS settlement had nothing to with FINREG officially passing, also falling few day before GS reports earnings. Nah, just a co-inky-dink.

GOOG reported, there is no bid so don’t ask. Broken and breaking, jumped the shark last year. Death at the 50 day moving average.

So far this morning, C, BAC, and GE have reported and futures are flat to slightly down. Michigan Confidence gets reported at 9:55 AM EST.

Some subscribers on my Premium Site caught 8 to 10 points in GS yesterday. Come on by and check  it out. Hers is an email I received this morning from a suscriber:

“I wanted to take a moment to say thanks for the GS call today.  I made $10.23 sh in about 1 hour.  I was feeling a little frustrated that I had not been available to trade much this week when your call came in.  Now all is right in the world!”

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