Pick The Dow

[Bostongambler]

Down 55

[Bostongambler]

Down 42.42

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Oil up 1.67

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-29.23

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Down on Tues.

[bazanster2]

BG,

60% return in a week for BAC, that´s a good return in anyone´s league.
How about Annualizing that.

"Results from Wachovia, Apple, AmEx and Texas Instruments dampen investors ahead of bell."

"Treasury officials confirmed that bank examiners from both the Federal Reserve and the Office of the Comptroller
are currently inspecting the books at both Fannie Mae and Freddie Mac. Paulson said in an interview published
Tuesday in the New York Times that he believed the results of those examinations would provide an important
signal of confidence for the markets.

Paulson spoke in advance of the release later Tuesday of a review by the Congressional Budget Office giving an
estimate of the budgetary impact of the administration's request for new authority to provide support for Fannie Mae
and Freddie Mac.
Fannie and Freddie have issued $5 trillion in debt and mortgage backed securities.
Of that amount more than $3 trillion is held by U.S. financial institutions and over $1.5 trillion is held by foreign institutions,
making the stabilization of the two companies essential to the global economy..."

Looking for the Markets to be down early. Not sure when the Congressional Budget Office will release their estimates,
but would suspect that the Market would rally.
Not sure how traders will view the report or if it will be enough to have a positive day.

Tough call, going with DOWN on Tuesday,

gl,

baz

[Bostongambler]

+135.16

I know Bank of America (Bac) went up another 3 and change

[Bostongambler]

UP on Hump day.

[bazanster2]

BG,

"NEW YORK (AP) -- Wall Street looked to extend its gains Wednesday
as oil retreated again and investors turned a bit more hopeful about the ."

Crude Inventories 10:30am(Eastern)
Fed´s Beige Book 2:00pm(Eastern)

Going with UP on Hump Day,

gl,

baz

[drunkguy]

Market Flipping Over Financials
Last Update: 23-Jul-08 08:50 ET


Just a short time ago, there was a fear of owning financial stocks. Now there is a fear of not owning them. Tuesday's session made that abundantly clear as the financial sector soared 6.9% with the bulk of that gain coming in the last two hours of trading.

The turn in the financial sector was remarkable. There was a near 11% swing between its low and high points yesterday. What's more is that the rally occurred in the wake of some otherwise bad earnings news out of the sector.

A rally in the face of bad news is typically considered a sign the market believes the worst of the bad news had already been priced into the stocks. The jury remains out on that issue when taking into account the widespread acknowledgment of deteriorating credit quality. However, the absence of new, dilutive capital raising efforts has been the focal point of hope that has spearheaded a massive 31% gain in the financial sector from its low last Tuesday.

It's hard not to respect that type of move. At the same time, though, investors should be careful not to chase it in earnest here.

The financials have rallied on the removal of some clear negatives, namely the fear that Fannie Mae (FNM) and Freddie Mac (FRE) would fail and the belief we would see another round of dilutive capital raising in the sector. These are positive considerations, yet neither changes the fact that earnings prospects for the sector remain encumbered by the deteriorating credit quality and continued stresses in the financial markets.

Rallying on better-than-feared news can take the sector only so far. It is distinctly good news that is needed to sustain the rally.

On a related note, the market is getting good news on the earnings front outside the financial sector. According to Bloomberg data, second quarter earnings, excluding financials, are up 10% (they are down 18%, including financials).

The market is again learning to appreciate the point that there is a real economy still functioning in a growth mode, albeit sluggishly, in spite of the financial mess. Pfizer (PFE), McDonald's (MCD), PepsiCo (PEP), General Dynamics (GD), PF Chang's (PFCB) and WellPoint (WLP) are among the non-financial companies reporting today that surpassed earnings estimates and increased earnings versus the year-ago period.

Retailer Costco (COST), though, issued an earnings warning that drove home the point that this isn't an ideal earnings environment. Still, the market is holding its ground this morning as it eyes yet another drop in oil prices.

Crude futures are currently down 1.4% to $126.57 per barrel with some strengthening in the dollar and a continued unwinding of speculative excess weighing on prices.

The drop in oil prices has unquestionably been a boon for the stock market in the last week, as has the better-than-expected earnings news overall.

The market, frankly, should have traded higher in response to those developments, but don't expect it to be clear sailing from here.

--Patrick J. O'Hare, Briefing.com

[bazanster2]

BG,

Economic Reports:
Intial Claims....rose to 406,000, much more than the 380,000 expected.
Existing Home Sales 10:00am(Eastern)

Second Quarter Reports for today:
Ford Motor Co., Dow Chemical Co., Bristol-Myers Squibb Co.,
Eli Lilly & Co. and 3M Corp.

Drunkguy,
Thanks for the article. Several good points.
Clearly, there seems to be a more positive Shift in the Market recently.
Both lower oil prices and on going Legistation to support of Freddie Mac and Fanny Mae are helping.
Today, the Intial Claims number may set a more negative tone.
That could be negated by a good Existing Home Sales report, lower oil prices
and or good Quarterly reports.
Still, the US economy is still growing in positive territory.
The Gloom and Doom may have been over played a bit.
However, we´re not necessarily out of the woods yet.

Going with DOWN on Thursday,

gl,

baz
.................................................. ...

CAPITALISIM AT IT´S WORST.
(You do all the work , we keep all the $$$ , thanks)

http://www.nytimes.com/2008/07/24/ny...l?ref=nyregion

Jin Shun -- which also made garments for Banana Republic, Express, Victoria's Secret, The Limited and Coldwater Creek

$250 when they worked their typical 66-hour, six-day weeks, amounting to $3.79 an hour
New York+s law requires a $7.15-an-hour minimum wage.
Two Chinese immigrants who worked at the factory said that during one busy stretch they worked 120 days straight.
one woman worked at the factory for 60 to 70 hours per week and was paid 22 cents per garment or 40 cents for more complicated pieces

Macy´s: Most of their Dresses go from $30 and Up. With many of them $90 and Up.
Dresses - Women's - Macy's

Macy´s, who has probably been using this company for quite some time were very "surprised":

"Macy’s, which operates headquarters in Manhattan and Cincinnati, said the labor department’s findings,
if true, violate the retailer’s vendor/supplier code of conduct."

I call this the Phil Knight defense, "why, I had no idea this was happening".
Even though, the suppliers had been making his main product for years.
To Phil´s credit, he took steps to insure better conditions.

Banana Rebpublic: Ouch, Dresses $90 and up on this page:
Modern Apparel, Handbags, Shoes, and Accessories | Banana Republic

Victory Secret:Their PantSuits, which are 2 pieced, go for $70 and Up.
Victoria's Secret - All Suits & Separates

Coldwater Creek:They seem to have pretty good prices, starting in the $30 and up on this page:
Coldwater Creek

[Bostongambler]

Good call Baz. Crazy down day

[Bostongambler]

Down on Friday.

[bazanster2]

BG,

NEW YORK (Reuters) - Stocks jumped on Friday following a government report that showed
new orders of durable goods rose unexpectedly in June, calming worries about the
profit outlook and the economy.
Durable goods orders made during June increased 0.8%, which is better than the
prior increase of 0.1% and the 0.3% downturn that economists forecast.

Other Economic Reports Today:
Michigan Sentiment-Rev. 10:00am(Eastern)
New Home Sales 10:00am (Eastern)

Going with UP on Friday,

have a GREAT weekend,

baz

----------------------------------------------------------

"Foreclosures continue to soar, 220,000 homes were lost to bank repossessions
in the second quarter, according to a housing market report Friday issued by RealtyTrac.
That's nearly triple the number from the same period in 2007.
A total of 739,714 foreclosure filings were recorded during that three-month period,
up 14% from the first quarter, and 121% from the same period in 2007. That means that
one of every 171 U.S. households received a filing, which include notices of default,
auction sale notices and bank repossessions.

[Bostongambler]

Good call Baz.

[Bostongambler]

I will start off by posting DOWN on Monday.

[bazanster2]

BG,

NEW YORK (CNNMoney.com) -- Stocks looked set for a lower start Monday as investors
remained worried about the banking sector and oil prices moved higher.

Going with DOWN on Monday,

gl,

baz
.................................................. .......................

The nation currently relies on coal - the dirtiest of all fossil fuels - for 50% of its electricity production.
Natural gas makes up about 21%, and nuclear power comprises about 20%. Hydro and oil each contribute a bit as well,
while traditional renewables - wind, solar, biomass and geothermal - ring in at only 3% combined, according to the
Energy Information Agency.

[Bostongambler]

-279.61

[Bostongambler]

Sorry.. Make that

-239.61