“Less bad” is the new expression along with green shoots these days and it is normal to see an improvement or two after such a massive deterioration of our markets.
Lowe’s topped expectations and the Homebuilder index will be released later this morning, and Home Depot reports tomorrow morning. Buffett increased his stake in Wells Fargo and banks are trending higher in the pre- market.
Gary Shilling was just interviewed on Bloomberg and he is still calling for S&P 600. He’s been very right but will he continue to be right?
The futures are catching a bid this morning although the Nikei took a hit. CNBC has some bankers trying to talk their book as they criticize the politicizing of the lending process. The taxpayer and the investors in these entities are now one in the same whether you like it or not. We are owners of these toxic giants on an involuntary basis through TARP and if you are a shareholder you are getting clipped by massive dilution. I’ll trade them, but they are still so broken. So broken.