Thursday Outlook: Bad News Bear

After reading this article yesterday, my blood was boiling. Do you think Americans will get or even understand this news? Are they too busy trying to make ends meet? Or worse, are they just listening to the fluff that passes for news? I don’t know but we need a revolution to get rid of the entire congress. How about term limits as a starter?

Change? What BS!

So what explains today’s rally in stocks? Not much I can see. Even Briefing.com was at its usual loss for words when there were a couple of price spikes around 11:30 and again around 2:15: “…there is no known catalyst for the move higher.” Basically, it’s called program trading. Da Boyz need to trade. It’s what they do.

Lehman (LEH) says they’re going to “auction” some of their assets so the joke regarding putting themselves on eBAY I made yesterday may not have been off-base. At the same time WaMu (WM) is in a death spiral. The dollar rally and gold sell-off continues. The beat goes on.

Volume was lighter Wednesday on what passes for a rally and breadth was not too remarkable.






































































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