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Thursday, April 23, 2009

Booyah

The U.K. Guardian ran an interview with one of the Somali pirates yesterday, and while I normally wouldn't have paid much attention to it, his name compelled me to read it.His name?
Asad "Booyah" Abdulahi. At least he is honest about his piracy, unlike the other Mr. "Booyah".

Speaking of piracy, it seems that indeed Bank of America was arm twisted into buying Merrill Lynch (story is in the WSJ, which I refuse to link to, so I'm linking to Denninger instead). I've been begging Congress to investigate Paulson for almost 2 years now. It's not too late.



Looking at a 10 day chart, 15 minute chart of the SPX, I see 4 levels at almost exactly 10 point intervals, starting at 827. This morning we hit a low at 837, where we bounced. Despite overall weakness, both XLF and XLE are strong. Weakness is in XLV.The Dow, Nasdaq, and Russell 2000 are all lagging the SPX.
down
There are 8 new highs so far, including a surprise breakout, our old pal HANS. There are a lot of stocks on both watchlists that are reporting, so I will not sepearate them by list: From last night, AXYS up 1%, CLB up 2.7%, CSGP up 3.7%, WIRE down 13%, EPIQ down 11%, THRX down 4%.
From this morning, I had MV, AMZN, and AN scheduled to report, but the only one I have a report for is AN, up 5.3%. Besides MV and AMZN, this afternoon we will be looking for reports from EZPW, BJRI, CPSI, JJSF, NFLX, RVBD, SYNA, SKT.

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