Wednesday, April 11, 2007

Pre Market

The Asian markets are mixed while Europe is in rally mode.

The EIA Petroleum Status report and the FOMC minutes are the two big items to watch out for in todays economic calendar.

Alcoa Q1 profit up 9% due to increased demand from China and the aerospace industry.

The US Dollar is making a rebound after hitting 2 year lows against the Euro on reduced speculation of rate cuts. This does not augur wellf or the bulls.

The big investment banks of Wall Street profit while the small investor gets screwed in the subprime debacle. One needs to be more careful about what they are investing in. Investment banks will try to pimp any crap to the individual investor.

The news keeps getting better for Yahoo as Viacom chooses it as its in-site search engine. Yahoo's stock price is up nearly 40% over the last 6 months.

The Dow has been up 8 days in a row, something which has not happened in 5 years. The previous time it was up 8 days in a row, it fell 3.6% the following day.

In other news, my fund did well yesterday on our correct bet on the identity of Anna Nicole Smiths daughter. This uncorrelated position of mine was a good bet since it was completely unrelated to any market anywhere.

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