Volume has dried up it seems. Relatively quiet this afternoon, trading rather flat. At least that’s fairly typical for options expiration Friday. Overall volume was pretty good, but most of it occurred this morning. Lots of rumors of takeovers (ugh), and Bear Stearns (BSC) jumped 5% on yet another takeover rumor. But Mr. Faber from CNBC said just recently that the rumors were untrue. I’m shocked! I swear that’s the only time BSC moves anymore.
The Fed’s Mishkin is speaking today. So far he’s expressed concerns about inflation and believes the subprime market will come back. He said the ratings agencies will be less essential going forward. Not sure what he means by that, but we’ve been looking for a shake up in that industry for awhile. It needs a major overhaul.
See you all tonight.
2 Comments
February 15th, 2008 at 9:18 pm
Lisa,
So funny to hear all the talking heads about how the worse
is over for the Bank’s and their balance sheets. With the major banks and brokerages not lending; how can they forcast “blue skies” ahead? It almost seems that the talking heads are very scared not to talk their own book. The worst one is CNBC’s Vince Farrell. He’s talking the same bullish positions; as he did during the 2000-2002 Bear Market. Looks like they un-embalmed him and gave him an electric jolt to bring him back to life.
Lisa, great job today.
A belated Happy Valentine’s Day to you!
Have a warm weekend.
Best Wishes,
Noel
February 15th, 2008 at 10:40 pm
Happy Valentine’s Day to you, too, Noel. Thank you. The “un-embalmed him” line gave me a big laugh! Have a great, relaxing weekend.