Jobless claims came in at 521k today (worse than expected - as if that matters) 521k initial jobless claims - and once again due to a monkeyhammer job on the greenback stocks closed at their highs (again). Is there a point where the dollar going down becomes a negative for equities? Ummm - I guess not. Do you think the Europeans are gonna be happy when people are not traveling to Europe due to a ridiculous exchange rate? Barry Obama is apparently not concerened. As a politician the only thing he probably cares about is getng reelected - which leads me to a question - since he hast taken office the market has exploded higher - he is almost done with his first year - we all know he will want the market to have a good "performance" in the year leading up to his (G-D forbid) second term, so at some point does he need to tell his boys at our favorite bulgebracket firms to take the pedal off the SPUZ so that we get a correction only for him to reinstruct a rally in year 3 of his term? Remeber now that these boys on the street have been bought by the US they have to listen to the boss. Food for thought.
One last thought as I saw the headlines scroll by about the pay levels as dictated by the pay czar, do you think maybe just maybe the ladies and gents on the Senate banking committee should have some of their wages garnished from the years where they let these "banks" destroy the capitalist system? Cmon Barney Frank - give a little back, you too Senator Dodd - its only fair.
Anyway - its about 9 Pm Chicago time - any guesses how much the market will be up tomorrow? Ill go with 1.5% - any other wagers?
It felt so 1999ish when afterhours AMZN was trading higher by $14 - that badboy is sporting a PE multiple north of 60 I think - good stuff, good stuff. They still just sell crap right? books, CDs (Dad, whats a CD?) useless crap that your soon to be pulled credit card lets you buy for no apparent reason other than that you are bored. Tomorrow morning the king of all Nasdaq names reports, MSFT - you know the maker of the operating system that keeps freezing up on the computer Im using - but good job on excel thats a good program. So a monopoly reports tomorrow, I guess if INTC's earnings were good (which is lower than its announcement day) you would assume MSFT would be as well.
Anywho...just want to say once again thanks to the triumvant of dollar terror (O,B,G) for pushing those gas prices up to near $3 again - thanks - thats what us "hard working Americans" are really looking for.
JB
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