In watching the Yankees play on TV this weekend I was struck by the number of empty seats in the so-called "Legions" area. These are the seats that are being marketed by the Yankees for $2,600 per seat, per game. To me (who has season tickets at a much lower but still exhoribant rate) the thought of anyone paying $2,600 to see a baseball game is obscene. But apparently the genius minds of the Yankees believed folks would. The result is now a sea of empty seats on TV which is very troubling to look at. It's testimonyy to the era of greed that seems to now be at an end. I hope the Yankees take some action to remedy a pricing situation that is now totally unacceptable and was always obscene. It's a sad day for baseball when things like this happen, even sadder when it happens to a team you love.
As for the market, I'm a believer in not fighting the tape and so it could be another positive week for stocks. Earnings have been coming in better than the lowered expections of the analysts. Indeed, on the surface things look better, but if you look just below the surface conditions are still pretty rotten, so I'm still skeptical of this being the dawn of a new bull market.