Like I said, lots of cross currents and have no interest in trading today as its pretty clear the markets are a bit confused and recession/depression/recovery are all on the table- after all - for how many months can we lose 533,000 jobs?

Strongest sectors - brokers, financials, banks, real estate and reits while oils, metals, trannies and utils lag.

NYSE- 1150 net losers.

NAZ - 500 net losers.

VIX- flattish at 65?

Market feels again like it wants to go higher but its tough and now with the WSJ reporting that Chrysler has hired Jones Day as their bankruptcy attorney- well who knows.

And for all the talking heads comparing airlines with autos - Americans fly on bankrupt airlines all the time- but won't buy cars from bankrupt companies- why not? Well - its not like I am taking the plane home with me and maintaining it- so just a hair difference. So why would I buy a car from a company that may go away when I can buy one just as good or better from someone who will continue to be in business- just dumb.


Blogger tamworth said...

Yep, good point about the autos. Well, it's hard to feel sorry for them. The Unions shot themselves in the foot and management went along with them. Now, we're supposed to bail them out?

I think not.

2:01 PM  

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