- Thursday! The market may not not care, though. Mostly hemming and hawing so far today.
- You can read Timothy Geithner's comments here, but did you happen to watch him this morning on bubblevision? He seemed in a more upbeat mood, had some smiles here and there. Overall, you get the impression that he knows the economy is mending. Yeah, yeah - news headlines, foreclosures, unemployment blah blah blah. All lagging indicators. Things are improving, and guess who will look good next election cycle? The Democrats! Not that they did anything per se, but looks like they'll benefit from the upswing in the economic cycle. It is what it is.
- Oh, and health stocks may improve as it looks like the nationalized health care fiasco is dying or whittling down.
- On yesterday's Investor's Edge, Gary Kaltbaum mentioned that we're seeing more rotation than selling, which may be interpreted as bullish. Gary also said he's been underperforming the market since early May. You can catch his archive from yesterday at garyk.com.
- Analysts wil be upgrading E-Trade? Although the stock sold off irrationally, the fact that ETFC's bond rallied to 98.5 reaffirms that ETFC is turning the corner. The risk of default is significantly decreasing and ETFC is on its way to increasing capital ratios, reducing balance sheet risk, and significantly reducing its debt burden. (Disclosure: Long ETFC)
- Gary B Smith says on Twitter that the market could be in for a small bounce.
- A Florida city imposing dress code that includes underwear and deodorant. The city council in Brooksville north of Tampa recently approved a dress code that instructs employees to observe "strict personal hygiene." It also prohibits exposed underwear, clothing with foul language, "sexually provocative" clothes and piercings anywhere except the ears. Repeat offenders can be fired.
