Thursday, April 2, 2009

Another day stuck in a Fellini film

Sorry I didn't post yesterday I ran into a problem with my water pipes at home which kept me busy most of the day building an arc. I bailed early on SDS when it looked like it was going to waffle and spent the rest of the day peeking at my computer screen while passing it with buckets of water that needed dumping outside. I didn't see any good setups today and it looks like everything is going to gap anyway so I will keep you posted if anything looks good midday. An interesting tidbit of news today from Bloomberg. FASB caved to pressure and voted to relax fair-value rules for the banks. This will allow companies "significant" judgment in valuing assets. For those of us who grew up on the south side of Chicago that means they get to make the sh*t up! Poof bankrupt today profitable tomorrow. The market is ecstatic and rallying 160 points. Where do I get one of these gigs??????????