- Sorry Paul Krugman. Sorry Barry Ritholtz. No recession. And you can't just get the superdelegates to vote for changing the definition of a recession, either.
- Look, I'm not here to pitch for George Bush and the GOP. I realize that there are folks out there hurting and we all wish the GDP were over 3%.
- In my view, the hate mail should be sent to Ben Bernanke (not pictured). He kept rates too high for too long and has been jawboning inflation (that has yet to show up in the core rate).
- The Fed cut .25%. The market reacted to the announcement by selling off the rally earlier in the day. If you're reading Adam Warner, you knew this was going to happen!
- At first glance it looks as if the QQQQ bounced down off the 200dma. It'll make another run at it soon enough. (Once folks pause their newly tax-rebate financed PS3 and Grand Theft Auto IV games long enough to enter a market orders to buy.)
- The RSI(2) for the QQQQ is already down in the 30s, nearing oversold.
- From 2004 data, the average use of gasoline per person in the US? 464 gallons. Your individual use may vary, but if gasoline prices drop a buck how big of an impact on the monthl budget is it really? Sure, you can't spend that money at the Cheesecake Factory or Best Buy; which are the stocks that have been hit with higher energy prices. But heck, $40 a month...
- That Dancing with the Stars results show is pretty difficult to sit through. So I don't! I do record it and zip to the end to find out who was eliminated. I *may* have paused to watch Shannon Elizabeth.
- *May*.
