Monday Holiday Week!

• The market up a bit this week. My guess is that there are more things working in the bull favor than the bear favor this week. Quarter end means funds will want to own the winners to show them in their quarterly statements.  Month end means 401(k) adds are automatically dumped in mutual funds.  Holiday week means volume will be light and "they" say never short a dull tape.
• Just a guess.  But that's mine. Up this week.  Oh, and what's been up?  That seems likely candidates for the dog pile.
• Bad math?  E*Trade shares today rose 1 cent, or 1.6%, to $1.29.  It's been awhile since my college math classes, but my Windows calculator has a 1-cent move up from $1.28 to $1.29 being about a .78% move.  The article linked to makes a case for ETFC, but you have to wonder about the numbers they throw around when they're not getting their percentages right. Just saying!  (Disclosure:  Long ETFC).
• I skipped the Michael Jackson (not pictured) coverage this weekend.  I wasn't a big fan of his music.  In the 80's I was listening to Van Halen and Motley Crue.  From a financial angle, the guy owed $400 million.  So was the guy rich?  He earned a lot, but spent a lot more.  They say he has a lot of unreleased tracks, so maybe there is a lot of money there waiting to be made.
• Hayden Panettiere has no problem with nudity.  "You never know."  I don't have a problem with her being naked in a movie, either.  Looks like we're all in agreement, Hayden.

Save the Cheerleader, Save the Stock Market?

Save the cheerleader, save the stock market? It's worth a try. The stock market isn't indestructible, it's not like Hayden Panettiere.

The stock market continues its free fall. Now down at 1997 levels. I received an email from a friend that he is delaying his retirement plans. I bet he's not alone. Portfolios are being crushed. Pension plans are no longer sound. Any home equity one hoped to cash in on, is gone. Private companies are shedding workers, and will government workers be the next to go?

If anything can be learned from economics, it is that economic booms are followed by economic busts. The government and Federal Reserve never seem to keep things on an even keel for too long. Things swing in excesses. In the past ten years, we've seen bubbles in stocks, real estate, and oil. We may have one in the bond market.

Sentiment seems to be at the "giving up" levels. Nobody is bullish anymore. The feeling is that it's all over.

It probably isn't.

I'm still long the market. Fortunately, I am outperforming the major indexes by a ways by being in non-financial stocks and mostly in the Nasdaq. Even with the new lows, we're still within the margin of a retest. But things do look gloomy.

Tonight as I type, Asian stocks are being pounded. Tokyo stocks near 26-yr lows.

This is where I want to whistle the tune to Monty Python's "Always look on the bright side of life." Lots to be said for that. I'm generally an optimist, and do believe things will get better. But right now we're all trudging through this valley and it doesn't feel good.

Back with lighter stuff tomorrow. This gloomy stuff is too, uh, gloomy. Keep it positive, Muck.

Auto Bailout Friday

Watching the auto execs this morning, and everytime they mention billions of dollars they quickly say something about "higher fuel mileage" and "environmentally friendly."

Good grief. It's like a used car salesman showing you a picture of his wife and kids.

Oh, and then some Congress person was suggesting that the auto makers go "non profit." Hell, they're already VERY non-profit. Losing a billion a month? It's like they're already nationalized, because the only entities that can continue to operate in the red and declare themselves "raging successes" are government agencies.

This morning, I give you a picture of Heroes' Hayden Panettiere. Her character, Claire, is unable to die. Is there a connection between Claire, GM, Ford, and Chrysler?