An irreverent look at Wall Street
Palmoni - any thoughts on steel names here. My datapoints are all +ive. But its about whats priced in now.
A little bit funky. I think the consumer confidence drop spooked the market--but that normally lasts just a day.Goldman increased world growth estimates---but when oil drops, the playbook is to sell, and that's what we got.Also--the climate bill-sell a house, you now need to certify energy efficiency--which means the anti-Obama trade, big Govt. meddling also was prevalent--at least in early trading.I'm heading to Colombia in a couple weeks to check out a company--which means I'll miss July's option expiration, which means it will probably be one that is ripping, which means this is just the market working thru congestion, which means I'm getting bored with the action and I should be leaving now and not then!
China June PMI decent @ 53.2. Jap Tankan outlook better. ISM tomorrow will be key.
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