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Financial news I consider important, with my opinion, which is worth as much as you paid for it.
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Thursday, August 13, 2009

Walmart earnings and beyond

I am tired of dealing with the stock market, and the collective act of trying to prop up equity values without providing real change/value to the underlying companies.

I am putting stops in for 1/2 of FAZ (24.75), SRS (10.45), TZA (11.20), and all my DXD (37.25).

Thursday AM will be walmart earnings, that will be the spin of the day. Who knows what the market reaction will be, a wild guess is up no matter what the news.

News
Liz Claiborne loss widens; more cost cuts planned
ING profit slumps 96% on real-estate losses
Mortgage Apps fall 3.5% for week ending 8/9 (real estate slows in mid july through august normally)
Bankruptcies up 36% yoy, 1.45-1.5M pace vs 1.1M in 2008
White House divides CDS regulatory jurisdiction
JPMorgan looking to sell 23 office properties - $1 billion <-- Prime example why cash is king.

And for "Opinion" news (OpNews)
Harry Markopolos: CDS Fraud Will Make Madoff Look "Small-Time"
US economy has bottomed: George Soros

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