Tuesday, March 31, 2009

End of Quarter (and Jimmy Rogers)

  • Last day in quarter, and market rallying nicely. Looks to have bounced off (or near) the 50dma.  That's a good thing.  Will check the internals later, but nice day heading into the last hour.
  • Jimmy Rogers (in a bowtie and not pictured) on CNBC, doesn't believe the market has bottomed, and is buying commodities.  Says fundamentals for commodities are improving, while bank fundamentals aren't.  And that the printing of money will lead to higher prices.  He says Obama should've let the banks go bankrupt and "stop throwing good money after bad." 
  • Jimmy, "300 million Americans are propping up a few guys so that they can keep their Lamborghinis."
  • Jimmy lives in Asia now.  Has only bought Chinese stocks in the past year, but not buying them now.  Says China is spending their money on intelligent things, while America spends money on "makework projects."
  • Not enough diversity in Obama's bailouts?  "We are not going to sit by and allow billions of dollars to be dumped into this economy and have the same old players being advantaged by it," said Rep. Maxine Water, D-Calif. "We are tired of being overlooked."
  • Flying under the radar for the financial crisis?  Don't these guys deserve some of the blame for the last few years?  Senate Banking Committee Chairman Christopher Dodd and House Financial Services Committee Chairman Barney Frank.

Pic is of Cheryl Burke. Of course. I actually voted after Dancing with the Stars last night. The Woz, Steve Wozniak, just because. And Cheryl.