It wasn’t the will of the people but it’s done and the beat goes on. Many in the medical profession called the suicide hotline yesterday, but were put on hold. Please let me know how it all works out, I’ll see you in a few trillion. Obama said yesterday that “we can’t treat tax dollars like monopoly money.” I’m fuzzy, warm and felling better already.
The financials caught major love yesterday and materials and ags moved, but did so without out the yellow rock, maybe today. GLD is right on the 50 DMA and I’m looking for a bounce, I’ got long a little IAG yesterday just in case.
My biggest position for the last week is JPM warrants, I’m up 10% but think it goes higher, a cheap way to own JPM for ten years at 42.20. Under priced on the deal two weeks ago I think, and I hate financials.. The fact is the group has caught a bid and I will ride it for a little bit.
Moody’s just downgraded Greece, but they are still investment grade, Fitch and S&P are lower than Moody’s with their ratings.
Economic data will be in focus on Tuesday, and there’s plenty of it for the market to absorb. First up will be a revision to third-quarter gross domestic product at 8:30 a.m., then existing home sales for November along with the FHFA’s house prices for October will be released at 10 a.m.
Have a great day.