Yesterday was the worst day for the energy groups I can recall. I was also the point drop leader for the Dow, S&P 500 and I think the third worst day for the Nasdaq. A quick summary goes something like, assurances Sunday night that the two sides of the House of Representatives had come together […]
Emergency Economic Stabilization Act of 2008: The draft legislation would authorize $250 billion immediately, with another $100 billion upon presidential certification. A further $350 billion would also be available subject to congressional approval. A vote from at least the House is expected later today. This is exactly the kind of piecemeal passage that Paulson warned […]
Energy Sectors Underperformed The Broad Markets. Unless the index in question has exposure to the refining patch, energy looked pretty horrible again last week despite only small moves to the downside for oil and gas. My sense is that this is largely due to end of quarter last minute selling. If you look around, […]
Sentiment Watch: Red. Blood red. Ship out of control. Too many captains fighting for a chance at touching the rudder. (WM) died overnight in the biggest bank failure in U.S. history. As did hopes for a quick solution to the Bailout crisis. Futures turned on a dime with the news that Congress and the White […]
Street Sentiment: Very nervous about what’s going on on the hill. Representatives on both sides of the aisle agree something must be done. And both claim their constituents are wildly opposed (I saw 50 to 1 and 100 to 1 against) to the $700 billion plan. So the Street is holding its breath as a […]
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