TGIF!

The market ended the week with a rally. The market seems like it just doesn't want to go down too much. I heard Bob Pisani mention on CNBC that if Friday before Labor Day is a rally, it's likely Monday will be a rally. I didn't validate, but sounds good to me. Would that be an opportunity to lighten up? I'd be lying if I said I wasn't thinking about it. But the "September Swoon" almost seems too crowded. I've heard everyone mention it.

Remaining long heading into the weekend and opening College Football weekend!

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One fantasy football draft down, two more to go! ... Labor Day weekend already? Good grief. I don't like the dwindling daylight hours, but FOOTBALL... Megan Fox picture today!

Lazy Tuesday with Megan Fox

• The market finished basically flat. Felt like a lazy Summer day. I have a little $AAPL fatigue after yesterdays new iPhone 3GS announcement. I'm not going to pay the premium to upgrade early.
• The Supremes decided that the Chrysler-Fiat deal could go through. Just think if it didn't. That might have been the end of Chrysler.
• Actors gett two year deal. So I think this means TV shows are safe. Phew.
• Jon and Kate is getting hard to watch. But I do watch. LOL The whole thing is a train wreck and we get to watch it. Not just on Monday nights, but all week long on the entertainment shows.
• I do like foreign emerging markets. Not Russia, though. But one thing that concerns me is currency exchange rates. The dollar is weak and maybe it seems ridiculous to think it will ever be strong again. But what if?

Happy 4th of July!

• It just can't be July 4th again already???  Market thoughts?  I think it gets interesting from here.  Is that a cliche or reality?  I believe the summer correction is very likely this year.  But that it won't be the end of the bull market.
• Transformers movie review?  The basic story is that of the good Autobots led by Optimus Prime who battle the evil Decepticons (led by Megaron) to save the Earth and ultimately (I guess) the universe. Battle began on the planet Cybertron for control of the Allspark, a mystical power cube that would grant unlimited power to whoever possessed it.  Hmm.  Sounds complicated.  But it does have Megan Fox, right?  This is a chance for me to insert the usual comment on Megan Fox (nude, naked, topless, smoking, dancing, stripping, panties, upskirt, up skirt, bra).  How can I pass THAT up?
• If you've been overwhelmed or underwhelmed by reviews of the iPhone that seem to keep reporting the same things, try this one called Saying only new(-ish) things about the iPhone. 
• Bill Cara with some (gloomy) market thoughts.  I have said here before that when these deals (private equity) stop flowing, Hank Paulson and Prof. Bernanke will finally pull the plug on this over-priced market. The greatest transfer of wealth in the history of the world will have been completed, and America will have sprouted its own form of oligarch.  I call it Paulson’s Pride.  Seems to me Bill has been gloomy for a very long time.  Just saying.
• Takeru Kobayashi on the ropes in the 4th of July Coney Island hot dog eating contest?  He's losing as I type.
• 7-11 teaming up with The Simpsons to make real-world Kwik-E-Marts?  I'll take an orange squishie!
• EBAY taking on Craigslist in online classifieds.  The new service, called Kijiji, pits eBay, based in San Jose, Calif., against a company it partly owns: Craigslist, the San Francisco-based company that manages classified ad sites for 300 cities, which attract 12 million new ad listings each month. EBay bought a 25 percent stake in Craigslist in 2004.
• iPhone hype: What's in Apple's future?  (I like his prediction for Apple in 25-26 years!  You gotta read it!)  I think the iPod and iPhone are all about making Apple a household brand, which would lead to more sales of notebooks and desktops.  Just thinking out loud...
• Joey Chestnut beats Kobayashi.
• Make it a good one.  We'll all be at work tomorrow, so keep it easy on the poolside beers!  Hey, does Kwik-E-Mart sell a beer squishie?  Hmm....

Dissin' (Megan) Fox

• It always puzzles me when I hear that the Democrats do not want to debate on Fox.  Personally, I'd be on Fox in a heartbeat.
• In a "What me, worry?" demeanor, the Fed is looking at the subprime woes being a small thing in the economy.  Well, except those going through it.  Hard-hearted and cruel? You could argue that. But the way that Federal Reserve Chairman Ben Bernanke and his fellow members of the Federal Open Market Committee see things, they can't afford to mess up the rest of the U.S. economy in order to rescue the relatively small ranks of subprime borrowers. 
• "You gotta harden your heart, swallow your tears..."
• It was only a year ago that the Fed raised rates for the last time.  Since then, they haven't done anything.  Kind of an easy job.  How much does it pay?  Sure, there's the in-between jawboning.  But that's just some game that you folks do for grins and giggles, right?  Like Janet Yellen goes out and says, "Watch this, Ben!"  Talks up inflation, has a good laugh, and goes back to doing nothing.  Bunch-o-government workers!
• So my thoughts on interest rates is status quo.  I don't think there is much inflation to worry about.  Higher energy prices have acted like a tax on consumers.  Higher interest rates and rising adjustable rate mortgages have increase monthly cash outflows and reduced discretionary spending.  I think a rate hike here would be dangerous and slow down an economy that doesn't need any slowing down here.  A rate cut?  I doubt it.  I think the Fed may be watching the tight labor market and wage pressures here, so I don't think they're in easing mode just yet.
• Tonight's blog entry dedicated to the lovely Megan Fox (naked, nude, topless, Maxim, stripping, smoking, panties, oh my Lord).