Late yesterday afternoon the Senate voted in favor of releasing the second tranche of the TARP money. That ensures its availability as a vote by both houses of Congress was necessary to stop the release. Obama showed a bit of leadership in getting his party to go along, in face of continued public wrong-headed opposition.
So Obama gets something done even before becoming President. This leadership should help get the government, the economy, the public's perceptions and outlook on the right path again. That's a the crucial element of the Obama Fund strategy.
So as long as Obama and his team read this blog and do what I tell them, the world should be OK. [joke]
BAC gets more capital and a loss cap on the Merrill Lynch assets. The BAC shareholders pay the price with a dividend cut to one cent and executives get a pay cap. Why is Ken the Cad in love with John Thain, who sold him a lemon ? That seems unnatural.
Markets
Yesterday's reversal counts as a hit for the good guys, a win for the forces of light, or however one puts it. Let's see if that makes an intermediate term low. If so, the lows of the fall will have held and a positive chart formation will emerge.
If Obama gets some momentum going, a bull market might develop. Certainly huge amounts of cash are on the sidelines. All that money pulled from hedge funds might find its way to productive investments.
I'll look at charts today to see if some Obama stocks merit adds. Yesterday I did buy a bit more TLF - very thinly traded, use limit orders on that one. I'd like to go 150% in Obama Fund today, if I can find meritorious adds.
In a separate very long term account, I also bought some AAPL and some JPM.
Word of the Day
"Chrestomathy" - noun [$10] (accent is on the 'stom')
Chrestomathy means 1. a collection of choice passages from an author or authors (H. L. Mencken's definition); a selection of passages used especially to help learning a language.
Sentence: Bunkerman is laboring over a Descartes selection in the chrestomathy titled "First French Reader", a Beginner's Dual Language Book. Descartes is interesting, but hard. His long sentences have strings of "que" and "de" which have alternate meanings and usage. One single line had three instances of "que" - arghhhhhhh.
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47 comments:
what money pulled from hedge funds are you talkin about ?? the 3 cents ??
yesterday was a win for the forces of light..............but only after looking into the abyss
i'm not that optimistic here..........the debate in congress over Obama's stimulus is about to begin..........and all i hear is more spending and taxes on capital
i don't believe that 'tax cuts in the stimulus bill' for a second
lots of funds down 20% got money pulled.
And even some up for the year got money pulled.
Lots of funds of funds being liquidated.
a new president is a reason for a new bull market ?
that's a bunch of bull
Obamam wanted a tax cut for middle class - whatever that is - I think they'll deliver something on that.
actually, Bud, that did happen in1933.
But he's gotta deliver the meat.
And change perceptions, etc.
Press propaganda machine will help, too.
I'm thinking of going to 150% long in Obama Fund late this morning when I return from an errand.
JPM JPMorgan Chase's estimates reduced at Oppenheimer after earnings (24.34)
Analyst Meredith Whitney reduces her FY2009 estimate for JPM to $1.35 (vs. Reuters $2.27) and are lowering their FY2010 estimate to $1.35 (vs. consensus of $3.47).
you can't argue with meredith whitney.......she's the best
boy Bunkerman Meredith must enjoy sticking it you....it almost seems personal at this point....
it does seem personal........Bman says 150% long............meredith responds with a bank cut..............your move B
lmaooooooooooooooooooooo
uh, I seem to remember Molotov Meredith missing JPM earnings bigtime to downside in some recent Qs.
She's just helping her masters on their JPM shorts.
my impression of yesterday was that the beefers tried to push the marke tlower, but there were no real sellers lower; hence the reversal on any bit of news.
Maybe hedge fund liquidations are done for awhile.
did my adding on dip.
new stocks: DKS, URBN, ICON
Adds: CIT, IHG, MTW, TEX, MRT, FL, CMI, GT, XIDE, FTK, CETV, HMIN
not quite 105% long.
added to ANF, too.
oops, I meant not quite 150% long
oops, added some to MT, too.
Uhh Bunkerman Cramer rates MTW "sell sell sell"
Bunky...nonono jumping up and down key reversal day...that is a first...I hear ya, still have that gappa spiddy 800 cash, 792 futures to fill...but no SPAR for a trade, Spin serves it up like a 2" steak ($9.99 a lb.)...so push it away for a slice of spam...ppffttt.
I already own SPAR - didn't look like a good add here.
that bastard sunboy either wants to front run ya or fade ya...nonono adopt the Spin...he still qualify for a dow 15k helmet.
If I have been paying attention, SPAR would have been a good add for me yesterday around 4.
Wendy sayin the Do -it -yourself spirit is coming back......your in BIG trouble Mantis...lool
Never tire, never falter, never fail...still have a tear in my eye.
'tear in my eye'......man you really are a queer
jerbels indeed
frosty why would spin eat steak for $9.95/lb when a chicken goes for $1.69/lb? what say you sunboy?
perhaps sunboy like red meat ?
"likes"
hmmm I just realize that one can make sushi with Spam.
Gotta try that.
Maybe even better with a strip of Valveeta wrapping the Spam sushi.
sunboy will throw anything on the grill,,lmaooooo..Id SPARe no expense for the bunkerboyz..lool
Valveeta and Spam sushi, atta boy Bunky...keep packing it on...Mrs B and the frostman will soon join Mav in the tub.
with all due respect Bunkerman...that doesnt sound very appetizing....to say the least...
the Valveeta might be too much, true.
I believe that one can actually get Spam sushi in Hawaii - have never had it.
oh, well, I guess I'll just stick to regular fried Spam & cheese grits, with a couple fried eggs.
Making rice for sushi would be to much work.
"Making rice for sushi would be to much work."
Big Al shakes his head....puts his feet up in the LZB...looks at his trophy and smiles...
Meredith Whitney on bloomberg now...just brought down her estimates for TLF....holy cow....that's cold...
Molotov Meredith reduced to covering the Obama Fund ... how low
;)
Two up days - maybe her "juice" is drying up - her beefer masters might be angry now.
Bunkerman how do you envision the next bull mkt? will it be with or without these big banks?
Bunkerboyz...you men enjoy the long weekend...you too Bud.
We march on monday and take control on tuesday...good times indeed.
Mern...keep the mini heater at the ready...feeling your about to get lucky.
JPM, WFC, GS, HBC, DB, BNP seem to be the financial leaders on the next bull market.
Maybe other to be seems.
Maybe Japanese bank survivors.
Isn't that enough ?
The industry was way too big anyway.
MOOOOOOOOOOOOOOOO...thanks bunk........have a great 3 days fellas..Im gunna missya..lmaoooooooooo
steelers 20 ravens 10
eagles 31 cardinals 24
what a week in the tank..........cha-ching....cha-ching..........now i can afford to go see Slumdog millionaire.......large pop-corn and drink too......thanks jim
PS........fat andy goin to the big show
lo-iq indeed
jon gruden fired in tampa
Jets need to hire him tonight !!!!
hello.........are you listening woody ?? get him now !!
J-E-T-S jets !! jets !! jets !!
cards 31
iggles 38
fat andy -10
that equals a cards win!
so i predicted cards 31 birds 28.
im sorry i was way off. it was cards 32 birds 25.
i think the refs muffed a pass interference call on 4th and 10.
great game, same result. donny is going to the HOF. andy is a big fat idiot! maybe after larrys first td, u double cover him? just throwing it out there, becuase i was screaming for it before his first. i may be smarter than all mormons!
remarkable prediction, mern. Hope your investmentn with Vinny Knuckes was sizeable.
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