Weekend Linky Dinks: P.I.I.G Stress Test, It’s All Good, I Swear

U.S. bank failures this year have surpassed a milestone of 100 as regulators shut down banks in Georgia, Florida, South Carolina, Kansas, Nevada and Minnesota. The pace has accelerated as banks’ losses mount on loans made for commercial property, development and just about everything else. The six bank seizures announced Friday bring to 102 the failures so far in 2010. The pace of bank closures this year is well ahead of that of last year, which saw a total 140 banks shuttered amid the recession and mounting loan defaults.

But that little S&L on a rock pile in Portugal is thriving? I’m so jaded, but I’m usually right about these things. It makes you think that our Board of education marked these tests in purple. We’ll see next week, when more Eurobank rubber meets the road. I trust Friday’s stress test results as much as I trust China’s GDP and FUQI’s earnings.

Even if you think these tests were done with two blind eyes (we won’t know for a while), the market loved it. There was a delayed reaction after the report, the market bobbed and weaved and chopped and then it just took off. The S&P also closed above 1100 which is bullish, but more follow through is needed. If it can follow through, there is a very good chance for a decent summer rally.

We had a profitable and fun week on the Premium Site and next week should be key. Have a great weekend and enjoy the links.

Will Genzyme get a bear hug from Sanofi?

,,and what is it worth?

What is in play.

Bearish sentiment highest since April 09, I think we got a “little” rally last time.

Action in ETF’s yesterday…bubble style.

Tools: Country ETF’s on demand.

The tax Tsunami is coming.

Do the Hugh Hendry shuffle, I like this guy, money management needs more quirky.

Stocktwits amps it up

Want DOW 11,000 in 11 seconds? Extend the tax cuts.

The 50 day is in the bag, now the 200 is in play.

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