Thursday, May 14, 2009


That market yesterday was awful. The day did offer terrible April retail sales numbers just as many market participants were feeling better about a light at the end of the tunnel. The real wet blanket in my opinion was the multi-front attack on U.S. consumers and businesses being threatened by the current administration - more (but not necessarily better) regulation and still more taxes.


Oil, which has made a quick run from about $40 to the high $50s, traded through $60 yesterday for a couple of minutes then got turned back. 50% moves used to be a big deal.

Futures are flattish ahead of another big jobs number and Walmart report this morning. I'm heading to New York at some point. Later.

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