Friday, May 8, 2009


Happy Friday. The stress test results were a snoozer. The country and markets can now easily shrug off an extra $75 billion.

Futures aren't doing much as the news flow is pretty quiet this morning. The jobs number will be the focus this morning but the lower new jobless claims number reported earlier has already trumped today's data.

Where is Obama this week? It was nice to not see him on TV every day.

Vince Farrell is on the tube right now calling for a pullback. It seems like everybody is calling for a pullback. When it comes to the market, if everybody is looking for something, they usually don't find it. Just sayin'.


This oil trade, which I'm not involved in but have been wrong on in the last couple of weeks, is very hard. The only thing that makes sense to me, given the recent rise in crude despite high inventories and weak current economic data, is that the economy is going to get better in a hurry. Or at least that could be the way oil speculators are betting.

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