Tuesday, September 15, 2009

Still Inconclusive

That is a year-to-date chart for General Electric. Would the crafty bastard who bought shares in this powerhouse below $6 please raise your hand?

Despite that positive-looking chart, GE has underperformed this year. The stock is down 5% vs. the S&P 500's 16% gain. It probably has to do with the inscrutable financial exposure on their balance sheet, which is may not be fully resolved.

Lots of people - me included - are worried about a trade war with China. GE is a big exporter. GE's stock isn't acting like it's worried, it's up 10% over the last 5 trading days. The market continues to punish the bears and remind all players that the playbook doesn't always work.

Interesting Twitter development from yesterday:

ABC's Terry Moran set the Twitter-sphere all aflutter when he wrote:

“Pres. Obama just called Kanye West a ‘jackass’ for his outburst at VMAs when Taylor Swift won.”

According to a statement from ABC, the president’s remark was supposed to be off the record.

As reported, it wasn't even Moran's interview. There might be more than one jackass out there.

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