Wednesday, July 11, 2012

More of the Same in the Market

  • $$ - The market didn't have a horrible day, but it was all over the place. Up. Down. Up again on the FOMC minutes. Then down again. Finally a push in the last hour like we've been getting lately, only to fall just a bit in the final minutes.
  • Good luck trying to figure that out. But the reason du jour was that the Fed offers no stimulus clue.
  • Tech continues to be weak. I would expect a bounce at any minute, but I'm not leaning in any direction right now as I'm still mostly in cash and low-beta stuff.
  • Another city in CA goes the bankruptcy route: San Bernandino! Yes, another city struggling with foreclosures, tax revenues, and increasing pension costs. Feels like that theme is gaining momentum. The can can only be kicked so far down the road before it gets encountered again, and each subsequent kick seems to lose a little distance. "What? That darn can again? Didn't we just kick it a week or so ago?"
  • Eh, Europe? If anyone likes kicking cans, it's you!
  • Did you see where Rep. Jesse Jackson Jr. was being treated for mood disorder? Yeah. "Mood disorder." I think it's funnier in quotes, don't you? One more time: "Mood disorder."
  • Meanwhile, the National League embarrassed the American League last night in the All-star game. Please settle down with the debate on "the American League is better" chatter. 8-0 in a best-on-best game.
  • It's 105 degrees in Sacramento. I'd blame "global warming" (again, hahaha, quotes!), but I blame the middle of summer. It tends to get over 100-degrees here in the summer - especially in July and August.
  • No bike riding in over 100-degree weather. Eh, why? Take the puppy for a walk after the sun sets, sure. But when I came home I noticed I had a flat tire. When did that happen? Good grief. Good thing I bought a dozen spares.
  • Chevron reported increasing profits. Hey, doesn't it give you the warm fuzzies knowing that even in this sluggish economy, at least oil companies are making money!
  • The BIG earnings start rolling in next week.
  • Time to go fix the flat.

blog comments powered by Disqus