Here is a link to the video. If you missed it, check it out... trust me.
Lots of people looking for this so I bumped it. Read a brief synopsis from my earlier post here.
UPDATE: NYSE having messaging issues into the close... when will the system be water tight? Every day there is big volatility there are issues. Need more confidence in the trading systems.
Fuck Loverboy. If I had my way, this is the song all radio stations would play at 5pm on Friday.
Tough week. Enjoy the weekend.
Misstrade, $2836 on 800 shares traded.
Me, $1198 on 55,600 shares traded.
HPT, $250 on 10 contracts traded.
Denarii, no stock trades.
Bubs, no stock trades.
OBAT, -$147 on 10,000 shares traded.
Evolution, -$637 on 42,000 shares traded.
Scary close, eh? How about that BSC? CNBC... what can you say? Stick to news reading...
Anyway, we have guests, so that's all I can write currently. If I do post a daily, it will be much later this evening... after every sane person in the house goes to sleep.
Enjoy the weekend. Rest up!
P.S. Check the poll, it's back to 50-50! What suspense!
Too busy for a synopsis right now. I'll look for a video of it later.
Says credit market worst it's been in over 20 years...
Says we need Uncle Ben to give a rate cut "to save us"...
Lunatic!
FLASH: He may have put a near term bottom in the market... meanwhile, CNBC, I guess there is a problem with BSC afterall... see my earlier post today for commentary on that. And, by the way, he just made himself "unfire-able." Just imagine the conspiracy theories...
UPDATE: Cramer came on again in the last hour and was cool. Said he didn't mean to scare people but he was concerned about "how tuned in the Fed is" to the problems concerning the credit market. He said that "all the problems will go away if the Fed says 'we're monitoring the situation and we're not going to let it turn into a debacle'." Says Fed should switch their stance to "ease" and problem will be gone.
Here is a link to the video. If you missed it, check it out... trust me.
I have to say it's interesting that CNBC is pulling out all the stops to defend Bear Stearns today in the wake of a downgrade on the company.
Last I checked, S&P makes it their business to analyze and make recommendations on the credit ratings of companies. And, last I checked, CNBC makes it their business to disseminate business news.
However, after I heard Mark Haines declare that the people who sold BSC today were "lemmings" and that "Bear Sterns is in good shape" I felt it necessary to write this post.
I mean, I don't claim to know a goddamn thing about what kind of shape BSC is in. It just bothers me that some old person, sitting, watching the TV might consider acting on buy or sell recommendations provided by a TV news anchorman.
After Mark Haines, we were treated to Bob Pisani talking about what great shape BSC is in while bullet points on the screen tauted their liquidity, etc.
At least Steve Leisman was there to talk about something real, the credit default swap market. He simply explained that BSC is paying more to fund their lending right now. No opinion involved, it's just a fact. Perhaps this is what S&P was looking at when they made their recommendation.
And I don't know if they offer Steve Leisman out there to balance out coverage, but anyone who watches also knows that the other "newspeople" kind of treat him like a class clown... so they let him say his piece, but then they all make fun of him.
Anyway, I'm just writing this post because should the shit hit the fan and these problems spread I want these people to be held responsible for touting stocks instead of simply reporting on them.
Oh, and one note to Trish Regan. Please.... stop yelling!
UPDATE: Bloggerdotcom sent me this interesting article that dovetails with what Cramer was saying on CNBC yesterday. Of course, it's from thestreet.com, so I guess that's to be expected.
Yeah, so I've posted this before... I'm sure you didn't notice.
I'm posting it because it blows up halfway through the song and I think it's apt to what's happening in the market. March and April there was this girl singing in this dreamy voice, things were nice, flowers blooming, birds migrating... get it, like the market? and then WHAM! The flowers die! The birds explode! and the market freaks out!
NOTE: Speaking of exploding, I suck so far today...
Back from surf. The winds shifted overnight and I got a little throttled today. I tell you, surfing when you're in your early thirties is a whole lot different than surfing when you're a teenager. I'm still working on conditioning...
Anyway, here's a mellow song for a mellow start to the day. Excellent song, very catchy, made famous by the movie High Fidelity.
How about that poll over on the right sidebar? Almost 50-50! Perfect really... no one knows what's going to happen!
