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  • Sens. Barbara Boxer and Jim Webb propose a 50% tax on bonuses over $400K at bailed-out financial firms. Boxer says it would affect 13 firms and could bring $10B for deficit reduction.   [View news story]
    any bonus I've received over the years, got taxed initially at 40%+ so I don't see how this matters. It's just lip-service with truly no impact in reality.
    Feb 5, 2010. 12:16 PM | 2 Likes Like |Link to Comment
  • Things can't get much worse, homeowners seem to say, as those expecting the value of their homes to decline in the year ahead fall to a three-year low 15%, according to a Reuters/Univ. of Michigan survey. Three-fourths view current home-buying conditions favorably, but the flip side: 90% say it's a bad time to sell.   [View news story]
    I can tell you that most a delusional. Home prices will be flat to down for the foreseeable future. In their minds down 30-50%+ means it can't go down anymore, but that's a fallacy. The only reason they haven't truly bottomed is that banks are holding off on foreclosures and/or are doing rent-backs.
    Feb 5, 2010. 12:13 PM | 3 Likes Like |Link to Comment
  • She's short on details, but SEC Chairman Mary Schapiro promises more curbs on short-selling to come this quarter, amid reports of mixed opinions at the agency. The SEC is also looking to consolidate audit trails at trading venues to give regulators a better view of the entire market. (previously)   [View news story]
    Why don't they just show their true colors and institute "canning" on short-sellers like Pakistan did. Oh, yes, that didn't work either...their market still dropped over 20% in a week.

    The more you distort the markets, the more irrational they become. If we'd just let things go their natural course, we'd like get through this crisis in better shape, quicker, and with far less national debt.
    Feb 5, 2010. 12:01 PM | 1 Like Like |Link to Comment
  • Making sense of employment and unemployment both dropping: Don't forget seasonal adjustments, and that unemployment rate is based on surveying households while payrolls come from surveying firms. With job losses continuing, the return to single digits in unemployment should merit no better than cautious optimism.   [View news story]
    This means they were only able to contact those who could pay their phone bills right?

    And bbro, you are such a perma-bull, what are you buying so I can short the heck out of it.
    Feb 5, 2010. 11:43 AM | Likes Like |Link to Comment
  • Jan. Nonfarm Payrolls: -20K vs. consensus of flat. Dec. revised to -150K from -85K. Unemployment 9.7% vs 10.1% expected. Avg. hourly earnings +$0.05 to $18.89. Workweek +0.1 hour to 33.3.   [View news story]
    right just a fluke of statistics...nothing has gotten better, only worsened. Clearly the market agrees - if this was a solid number,the market would be up.

    Comments like "everyone on SA is bearish" is a crock. Most everyone on SA is a trader and they now the true tale of the market regardless of the kool-aid, govt stats, and a hope based rally.
    Feb 5, 2010. 11:39 AM | Likes Like |Link to Comment
  • The U.S. economy could grow more rapidly in 2010 than current forecasts suggest, says Chicago Fed president Charles Evans. Expected 3.5% GDP growth would be "an unbelievably modest growth rate on the heels of the contraction we just had," and 4% is "not outside the realm of possibility." Also: "I cannot fathom that inflation is going to take off, short of some deficit catastrophe."   [View news story]
    When have they gotten anything right?
    Feb 4, 2010. 04:47 PM | 1 Like Like |Link to Comment
  • Jan. same-store sales (actual vs. estimate), update #4:
    CATO -4% vs. 4%.
    KSS +6.5% vs. 2.7%.
    ROST +8% vs. 7.4%.
    SKS +7% vs. 2.8%.
    SSI -11.3% vs. -1.3%.
    2 misses, 3 beats, for a total of 6 misses and 20 beats.   [View news story]
    If I did as bad a job as these "analysts", I would have been fired long ago. We should replace them with the cheaper and more accurate "crystal ball".
    Feb 4, 2010. 11:05 AM | Likes Like |Link to Comment
  • The Treasury expects to hit the government's $12.4T debt ceiling by the end of the month, and is working with Congress to raise the limit to $14.3T. That's the equivalent of around $45,000 for every American.   [View news story]
    I thought they just raised it recently?
    Feb 4, 2010. 10:58 AM | 1 Like Like |Link to Comment
  • Yum Brands (YUM): Q4 EPS of $0.50 beats by $0.02. Revenue of $3.4B (-2%) vs. $3.3B. Same-store sales dropped 8% in the quarter, 5% for the year: Taco Bell -5%; KFC -8%; Pizza Hut -12%. Shares -0.9% AH. (PR)   [View news story]
    yes, they need a "junk food stimulus package".
    Feb 3, 2010. 04:48 PM | Likes Like |Link to Comment
  • Yves Smith wonders if the U.S. mortgage market is reaching a tipping point as solvent borrowers grow increasingly comfortable with strategic walkaways. While the government has "a vested interest" in saying that few homeowners abandon their mortgages by choice, "this sort of cold-blooded detachment is the logical result of encouraging borrowers to treat their house as an investment... rather than a home."   [View news story]
    Right, the robbers will keep robbing and the sheep need to stay sheepish - you can't have them getting wise to the rip-off can you? So the banks/govt bring up the bs moral story, which frankly, no-one believes anymore.
    Feb 3, 2010. 03:07 PM | 4 Likes Like |Link to Comment
  • Turn on, tune in, drop out: CNBC's ratings in January were down substantially from a year ago.   [View news story]
    I turned to CNBC today for the first time in several months and I just couldn't stand them talking. They are idiots talking to morons.
    Feb 3, 2010. 02:45 PM | Likes Like |Link to Comment
  • MBA Mortgage Applications: +21% vs. -10.9% last week. Thirty-year fixed mortgage rate decreased to 5.01% from 5.02%.   [View news story]
    They have bank cronies too. Indirect manipulation is their fav type.
    Feb 3, 2010. 11:59 AM | Likes Like |Link to Comment
  • The problem with midwinter blues is you start seeing the clouds instead of the light - and you start planning to sell stocks instead of buy, says Evan Newmark, who asks: Has anything that's happened lately (the promise of gridlock, Bernanke, the Massachusetts election) changed your fundamental view of the market?   [View news story]
    Until interest rates rise, the stock market is the target for new money as even the chance for some gain is better than 0%. And given the "fact" that everyone believes/hopes the market won't go back down...makes it a riskless play. Ha ha.
    Feb 1, 2010. 01:19 PM | Likes Like |Link to Comment
  • Playing the Odds: Probably Just a Correction  [View article]
    Just don't think historical averages apply as this isn't your father's average bear market and thus distortions relative to the statistical averages become the norm - just like the 60-70% bounce from the lows....
    Jan 29, 2010. 03:19 PM | 6 Likes Like |Link to Comment
  • The Fed's exit from its debt buying program should have a minimal effect on mortgage rates, Morgan Stanley (MS) analysts say - to the tune of a 0.1-0.15 percentage-point rise, rather than an entire percentage point. The bank is expecting private investors will step into the gap.   [View news story]
    More talk - less reality. Of course pushing down the market doesn't hurt.
    Jan 29, 2010. 01:54 PM | Likes Like |Link to Comment