- Good Lord. I'm watching CNBC this morning and it's a Blackstone World. It's like nothing else is going on in the market. Even if it's an important event, do we need the "Four minutes until trading.." and "Three minutes and forty-seven seconds until trading..." countdown? Or the "the spread is narrowing which means trading should begin soon" to "Ooops, now the spread is widening again, which means trading could be delayed."
- I turned it off. Didn't wait. I don't own any Blackstone. I'm certainly not trading any on IPO day.
- ANYWAYS.... We're heading into month-end and quarter-end, which could provide some support for leading stocks. But keep an eye on interest rates. They're moving up for whatever nonsensical reason, and that's putting pressure on stocks. Consumers are cutting back on spending due to higher energy prices. Notice Starbucks numbers. (Combined with Best Buy and Home Depot and and and...) So in addition to paying more at the pump, folks with adjustable loans are paying more in interest. That'll sock discretionary spending even more. Again, not inflationary... If you have less money to spend at Starbucks, Best Buy and Home Depot, they don't have a lot of pricing power.
- The TV show "24" is contemplating a female President for next season. Why not Ana Ivanovic? Of course, if I mention Ana Ivanovic (naked, nude, topless, up skirt, smoking, tennis)...
