Fair Greece! sad relic of departed worth! Immortal, though no more; though fallen great!-Lord Byron
The pundits that are still discussing the possibility of contagion are probably the same folks that say that there “might” be problems at Goldman someday. Greece sent us a signal six months ago, yet pundits here and across the pond hope on hope that it’s just not that bad. Greece has now been downgraded by Mood’s and S&P, Fitch too. Spain and Portugal joined the ranks this week too. Pundits everywhere are now defending Italy, Germany, Ireland and Belgium as to big to default, but we now know their track record. So far, our markets have brushed off southern Europe as a mere annoyance as our markets climb higher. We all know these things usually have a delayed reaction as hedge funds and institutional investors play the “first to blink” game. Everyone is long, and it’s uncool to leave the party early. We’ll see.
It seems impossible to keep this market down for more than 48 hours, the bears can’t string together a continuation downside day if their lives depended on it and the bulls are more than happy to keep buying the dip. So far so good.
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Thursday, April 29, 2010
Economic
08:00 Brazil March Unemployment
08:30 Initial Jobless Claims, Continuing Claims
10:30 Natural Gas Inventories
13:00 Treasury’s $32B 7-yr auction
Events
08:00 FDA Anti-Infective Drugs Advisory Committee Meeting. Brazil March Govt Budget. Trades Ex-dividend: BCR $0.17, DO $0.125, HAS $0.25, PAYX $0.31, PNW $0.525, SO $0.455.
Earnings
Before the Open: ACIW, AET, AKNS, ARE, AEP, MT, ARTG, ABG, AZN, AVT, BLL, BDX, BDC, BMS, BHE, BWA, BCO, BC, BW, BBW, BG, BKC, CAM, CRR, CAH, CDI, CELG, CEVA, GTLS, CME, CXG, CL, CLP, CNMD, COP, CNX, XRAY, DLR, D, EK, EME, EMS, ETR, XOM, FAF, FORR, FO, FELE, GWR, GTI, HAR, HSC, HS, HP, HERO, HEP, HURN, IMAX, IPG, IP, IRM, KBR, K, KMT, LB, LANC, LKQX, LZ, CLI, MJN, MSA, NIHD, NBL, NS, OXY, OMX, ZEUS, OSK, PMTI, PTI, PTEN, PEI, PRGO, PTEC, POT, PDE, PG, RDWR, REV, RAI, ROC, SWY, SAIA, SBH, SHPGY, SLGN, SII, FIRE, SPR, HOT, STFC, STEL, STRA, TDY, TEN, TBL, TWC, TKR, ULBI, VCI, VIA.B, WM, WY, WRLD, XEL, ZOLL. After the Close: APKT, ACTL, AEM, AMX, ANEN, AMCC, ARBA, AACC, ATHN, BYI, BMRN, BVN, ELY, CALD, CQB, CYN, COHR, CSTR, CTV, CW, CYBS, PROJ, DRIV, DNB, BOOM, EFII, EXPE, FALC, FISV, GPRO, GNW, GFIG, GUID, HIG, HGSI, IM, IN, XXIA, JAH, KEYN, KLAC, MXIM, MFE, MDAS, WFR, MMSI, MET, MCRS, MTX, MHK, MPWR, MWW, NETL, NTCT, ASGN, OTEX, QLGC, QCOR, QDEL, RGC, RSG, RMD, RBCN, RTEC, SHOR, SIMO, SSD, SWKS, STMP, SURW, SWN, SMMX, TSYS, TSO, THOR, TRMB, USTR, UAM, VCLK, VSEA, VLCM, WRE.
