- As I type, the SP500 is now above 1500. I believe that's just 27 points away from the previous all-time high back in 2000. It's an amazing market. I find myself not trading much this week, letting the winners run, and being patient with cash. We're emerging from the 401(k) additions at the beginning of the month. In 2006, things got a little dicey in May. Stay focused.
- As the market powers forward, we see some stronger economic data and some comments from our favorite Barry Ritholtz over at CBS Marketwatch. "This is a market full of contradictions," said Barry Ritholtz, chief market strategist Ritholtz Research & Analytics. "I can't recall the last time there's been such negative sentiment [in investor surveys], and yet we rarely reach a top in a market until everyone has become too optimistic." Yeah, the crowd is skeptical. As I mentioned yesterday, that appears to be where I am!
- So the earnings for DLB are rockin' my CNBC stock gambling portfolio. But as always, dumpin' them all today and going for AGU, CHK, EXEL, ITMN, NBR, QLGC, and WMS today. A little larger swath of stocks for thursday night earnings. Was able to sneak in the top 12% after yesterday.
- Hey, the two white guys not named Blake did get eliminated last night on American Idol. Good choice, voters. Now it gets more difficult.
- Lost was great last night. More island secrets to be revealed shortly.
- Holy bat droppings, Batman! An upstate New York couple didn't think a few bats in the attic were much of a problem when they were buying a house last summer. Months later, they found out how wrong they were when they discovered more than a ton and a half of bat droppings up there.
- Last week we saw the Democrats debate for the 2008 grand prize. This week, it's the GOP's turn. Man, it's May 3rd, 2007. How much earlier are these things going to start? I heard that some state(s) want to move their primary up to December. I feel voter fatigue already.
- A remedy after the fact for mortgage brokers who seem to have been preying on folks who didn't have the ability to make mortgage payments. Mortgage brokers would be saddled with new rules designed to protect borrowers in the hard-hit subprime market under a bill introduced Thursday in the Senate. The proposal would force brokers and originators to assess a borrower's ability to repay a loan before taking one out, and prohibits "steering" consumers to rates or terms they can't afford. $300 million in this one by Charles Shumer (D).
