Thursday, March 15, 2007

RECAP



Optimus Prime vs Megatron . Bulls vs Bears.

Like I expected, we closed in the green on the major indices. There was some concern over higher than expected PPI numbers and a weak Philly Fed Survey . To their credit the bulls held their ground and we were in the green for most of the day.

The mortgage lenders were on fire today . Stocks like LEND and NEWC were up over 60% and 90% respectively.

Old Alan expects subprime fallout to spread to broader economy. No shit. Here's a good article courtesy of Minyanville explaining how subprime affects us all.

Tomorrow is the all important CPI numbers. Based on the PPI, the CPI numbers will come in above consensus, showing us that inflation is still a problem and rate cuts will be harder to come by. Added to it being option expiration tomorrow, we could be in for a roller coaster in contrast to todays laborious action.

1 comment:

65Trader said...

That was some old school flashback for sure!