Pre Market - July 16th 2008

Posted: July 16, 2008 at 9:26 am by Chuck

We are seeing some wild movements in the S&P futures this morning. Very difficult to gauge where the market is going today. The headline news of the morning was the large increase in the Consumer Price Index (CPI). We had been saying for months that the Government data was incorrectly reflecting ‘real world’ economic factors for the average person. Today’s increase in the consumer inflation data is the beginning of Government data catching up to actual impact of the economy on you and I.

Today is part 2 of the Ben Bernanke show. Today he speaks to the House of Representatives beginning at 10:00am EST.

Earnings today:

Before the Open: ABT, AMB, ASML, DAL, DSL, GCI, HST, NITE, LSTR, LUFK, MI, MTOX, VIVO, MERX, NTRS, ORCT, PJC, STJ, WFC.

During Trading Hours: AMR, CBSH.

After the Close: ADS, CAVM, CCK, DTLK, EBAY, HOKU, KMP, KFN, LHO, PLCM, RECN, SSW, TER, TBI, UFPI, XLNX, YUM.

Occasionally I make the request that more of our readers chime in and let us know you are out there. If you are a reader of our site please say hello to us, let us know you are out there and share with us your thoughts.

Filed Under: Uncategorized
Tagged:

Comments

20 Responses to “Pre Market - July 16th 2008”

seeblog on July 16th, 2008 9:29 am

yup bro , it’s time to chime …
joe on July 16th, 2008 9:32 am

Hey Chuck, just came across your site a couple days ago vis a vis “the market ticker” by Denninger.
Great insight and information. I’ve made it regular reading since then, keep up the great work.
Ruffcut on July 16th, 2008 9:33 am

Hello Rebels.
On the WFC news. My Bro -inlaw just bought a home for $440,000 that was near forclosure. The outstanding mortgage was $557,000.
Wells fargo ATE THE DIFFERENCE.
I guess it is an isolated incident. “all is well at wells”
Thanks for sane commentary, amongst all the lies.
Ran on July 16th, 2008 9:46 am

Chiming in from Norway. Nice job to your site.
Chris on July 16th, 2008 9:52 am

If you are a reader of our site please say hello to us, let us know you are out there and share with us your thoughts.

I appreciate all of the hard work that you, Chuck and Lisa put into this site.

Any thoughts on where support now lies with the XLF?
GINO on July 16th, 2008 9:56 am

Love the site guys, found you off the ticker forum- thanks for all the update data it really helps. I don’t watch cnbc and will not, so this is a great alternative. I’m not much a post person, but will try in the future-
doc1 on July 16th, 2008 10:00 am

Hey Chuck — VERY good site. Since January been with you & love your work. My thoughts? When Bove speaks it’s usually about to be a “generational buy” in SKF positions.
Opitz on July 16th, 2008 10:03 am

Hello Chuck and Lisa! You are the best!
C. on July 16th, 2008 10:08 am

Greetings from Romania.
I’m reading you daily.
You are doing a great work.
Guy on July 16th, 2008 10:09 am

Great site Chuck and Lisa…fantastic! I share it with others, too….so hopefully they visit often. Here they will find the truth and learn so much. Thanks again for all your efforts!!
kyrieeleison on July 16th, 2008 10:23 am

Thanks for all your hard work! I found you through Tickerforum and occasionally link to your articles on my own blog, which is more about economic news than financial analysis (I’m not a trader, just an involved spectator, as we all are!)
Other Steve on July 16th, 2008 10:29 am

Read you daily…you’ve got a top notch financial blog. Keep up the hard work and let us know if you need any support. I really respect and appreciate the forum and discussion you provide on a daily basis.
keith on July 16th, 2008 10:29 am

i am a new reader, and what i see is very good.
thanks
bretttug on July 16th, 2008 11:19 am

Came from the Ticker. I really like the site, lots of good stuff.
Keep up the good work!
chas k on July 16th, 2008 11:21 am

Hi Chuck & Lisa, consider your blog a must read daily, keep up the good work!
djvogeler on July 16th, 2008 11:34 am

Hi Chuck and Lisa,

Thanks for your detailed analysis that you share with us. Your site along with market ticker, Mish, Roubini, prudentbear, financial sense, Calculated Risk, and many others are my favorites, the results of my search for “Truth Tellers”. There are Soooo many misleaders. eg… 99% of them.

Your work is my favorite “Trader site”. Keep up the good work.

The little guy needs all the help he can get. That would be me.
MuddlinThru on July 16th, 2008 12:37 pm

Great Work, reader since feb (i think) , subscriber almost as long. Jus in a hurry and u havent posted anything to disagree with. i have 325 finance related favorites. i have 8 that i rotate through during the day. u are in the 8. For research i read http://boombustblog.com/ he has sooo much data. hard research on wells there. looking forward to the new format.
iwan on July 16th, 2008 12:53 pm

hi chuck, i remember that we took some positions on gold.would you be so kind as to post some your analysis on it.
zzyzx on July 16th, 2008 8:36 pm

Chuck/Lisa

Hell of a relief bounce today. The oversold situation looks better on the daily. Still some work to do on the weekly chart.

Funny how WFC can make a bit of money when other banks have such issues.

Due to what I have seen here on your blog, I have due enough dd to safely mange my Rollover IRA rather than buy long index funds.

You guys rock!
Noels on July 17th, 2008 5:26 am

Hey Chuck & Lisa,

Thanks for all the interesting & honest analysis, makes one think ‘outside the box’!! My favourite site by far!

All the way from sunny (albeit a bit chilly) Cape Town, South Africa