The Dip this morning (SPUZ down 8) was bought almost instantly - like Pavlovian dogs. SPG is trading down $1 after its earnings report - so basically nothing. CAT is a big upside mover today up a couple bucks on them saying something ridiculous like we are gonna make $8-$10 per share in 5 years??? What the heck does that mean? Who cares gun the stock. Im sitting on my hands here working an option spread my partner likes but other than that just watching the ticks flick by.
One thought on cash for clunkers (which just so happens to be another 3 billion dollar auto industry bailout except this time the foreign manufacturers are getting some cash) this will definitely cannibalize future sales. But thats the US for you instant gratification.
JB
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