Early in the day, the financial news told us that the market was advancing despite the Chrysler bankruptcy news. Later, the market fell because of the Chrysler bankruptcy news. So they say. Er, okay.
Not a great day in the market today. Never like to see a reversal. Nasdaq did inch up while the DOW and SP500 didn't. Advancers did lead decliners. Long, and the trigger finger isn't itchy but it'll be ready to book the gains from this rally. No reason to guess the top. It'll show up when it does.
April was Wall Street's best month in nine years -- offering some of the most powerful evidence yet that maybe, just maybe, the economy is about to begin a turnaround. ... That's more than a relief for investors -- it's a potential economic indicator, because the stock market tends to get back on its feet before the economy does. In downturns over the past 60 years, the S&P hit bottom an average of four months before a recession ended and about nine months before unemployment hit its peak.
Randomosity!
- President Obama says Chrysler bankruptcy is a wise move. "No one should be confused about what a bankruptcy process means," Obama said. "This is not a sign of weakness but rather one more step on a clearly chartered path to Chrysler's revival." Made much easier when they unload those union contracts, eh Barack?
- Man (not pictured) convicted for stalking Tyra Banks (pictured). Brady Green, 39, of Dublin, Ga., was convicted by Manhattan Criminal Court Judge James Burke, who heard the case without a jury, of stalking, harassment, criminal trespass and attempted aggravated harassment. Could've been any one of us, fellas. Well, maybe not: Authorities said Green, 39, repeatedly called Banks' studio, showed up there, and sent her flowers and letters. They said he also threatened to slit the throat of a staffer who refused to tell him where to find Banks' TV studio.
- The Sacramento Bee website has population trends for California cities. Cool!
- Disney joins NBC on Hulu! Is there a Hulu app for my iPhone??? NO! But it's coming!
- Matt Giraud booted off American Idol. Easy guess on that one. A surprise that Adam was in the bottom two, but like I said yesterday, I probably wouldn't buy his music. I like Allison and Kris. Danny's okay. Allison has the girl-rocker thing down, and that's music I like. Kris is kind of folksy, also music I like.
- Jon and Kate plus 8's Jon Gosselin getting written up for late-night antics. Jon & Kate Plus 8 dad Jon Gosselin is admitting he "showed poor judgment" by leaving a bar at 2 a.m. with a mystery woman and without his wedding band -- while his wife Kate was across the country promoting a book.