Market Wrapup

First off, I am sorry for not posting anything today. I am having difficultly with this software at work but it will be fixed by the weekend. As for today, I did nothing but add some more SDS. For the day, I was up 2%, mainly from big gainers in shippers via, EXM and GNK, as well as monster gains in F. Goldman upgraded Ford and raised the PT to $7.50. I am long and will add more on dips.

As for the market, I will be honest, I am NOT optimistic. I don't care which side your on in terms of party views and I won't project my views but the market is HATING the fact that the government is trying to run companies. The government is now controling advertising budgets for automakers (GM and Chrysler) and many firms are scared to death and are doing tons of secondary offerings to get liquidity. This dilutes ownership and decreases stock prices; however, they gotta do it. This is scaring many bond investors, which is terrifying because without bondholders, that market will collaspe. Think about it, why would you want to be a bondholder? The bondholders got nothing from the Chrysler deal and the UAW got 30%, what is up with that?

As for the SPY we closed right above the 26% fib. retracement level but I don't see where we will get momentum to go higher in the short-term.

Lastly, I see that Carl Ichan quadrupled his stake in TTWO. Him and RF think alot, maybe he read the stock under $10 post (lol) but when he has his hand in the cards, a deal gets done 70% of the time. BEAS was a great example. He is failing in BIIB, BBI, and YHOO but I think a deal will get done in YHOO and maybe TTWO. TTWO's management rejected a deal at $27, they are not smart; however, it's worth a shot, soon. The story is developing.......

I'll be back over the weekend, discusses various topics, as well as some ideas/picks.