The weather in New York is beyond disgusting. Hot, humid and stinky. Makes me long for a nice 20 degree day – as long as there is no snow or ice. Anyway, I want to make a few points before I head off to New Jersey for the day.
- How bad can the economy be when folks are willing to pay $100 to see a stupid movie? Yes, that’s what some tickets for "Dark Knight" were going for yesterday at some locales. People who paid that much to see a movie are probably the same folks who are yelling the most about the high cost of gas. Go figure.
- Phil Gramm finally stepped down as co-chair of the McCain campaign, and not soon enough for me. The man is a moron, much like the man who he hopes to be president. OK, enough whining about this!
- Barack (I am the messiah) Obama is on his European tour. Perhaps he will perform some miracle on this trip which will cement his place as the savior of mankind. Maybe he can cause the Euro to dip versus the dollar?
- The stock market finished the week on an upnote despite Google and Microsoft disappointing on the earnings front. I guess that was encouraging, and along with a better outlook for the financials and falling crude prices, should result in more gains in the coming week.
- Longer term the economy is still a mess with the housing sector slipping more and more into despair. Until the housing mess is rectified the stock market cannot mount a serious, sustainable rally. Sell into any rally next week.
- Enough for now. Heading to New Jersey to get even more depressed.