Mr. Sensitive

August 31, 2012

FSX Friday Update

Filed under: Uncategorized — lbej @ 16:48

In my thirteen years in and around the markets, this is the slowest I’ve ever seen it.  No volume, no chatter, no intraday swings—nothing.  The chief strategist for Morgan Keegan gave us this gem: “Everyone is in a wait and see mode. The market is extremely quiet and boring, and volumes are pretty much dead.”  Quiet, boring, and dead; I can’t put it any better.

The Republicans had a convention; the market cared even less than the rest of the country.  Matt Romney managed to say almost nothing of interest, once again echoing the approach taken in 2000 by the most notably- absent Republican icon, two-term former President and ongoing national disaster George W. Bush.  I do agree with the Republicans (!) about one thing: Obama needs to stop blaming Bush for the damage to the economy.  I’m not saying Bush isn’t to blame—he is.  I’m saying we know; we know whose fault it is, but he’s been back on his ranch in Texas for almost four years now.  It’s time to right the ship, or admit you can’t.  It frustrates me that Obama wants another four years in the White House, but he refuses to explain, clearly and specifically, how he will go about fixing the problems Bush created.  I know Bush was the worst; I also know that Romney will go back to Bush’s failed economic policies, and that’s why I’ll vote for Obama even if he doesn’t have a plan.  I just think we deserve a plan.

Matt did go out on a limb by declaring he’d fire Ben Bernanke.  Ha ha, Matt, said the market.  Why didn’t you just fire that pesky Hurricane Isaac, then?  Are you going to fire the drought?  Are you going to fire China’s trade surplus?  It’s not your decision.  The market wants Gentle Ben, Matt; you, of all people, know better than to try and take away things the market wants.  Fortunately, the market knows you know, so it paid you no mind and moved on to scrutinizing the Jackson Hole speech delivered Friday by…Ben Bernanke.

The Family Stock Index was up a little bit to close around where it was before.  The FSX chart looks like a dying man’s EKG.  Ugh.

Advancers

  • Jenny (JNY) +6.2%.  I didn’t think middle school would bother Jenny much, but the JNY bulls really believed (+33% since June).  Well, one week down, and so far, so good.
  • Zero (ZIP) +3.5%.  Reagan took this one and ran with it: Zero’s up because of the guitar he’s going to get me for Christmas; it’ll be his main highlight of the year.  Maybe Reagan, Charlotte and Zero are going to start a band during the holidays; no wonder investors are building positions now.
  • Wilson (WILC +4.0%) and Zondro (ZQK +3.0%).  The dogs are being released from their crates bright and early now that school’s back in session.  Wilson outperforms because he’s into the extra time outdoors; Zondro not so much.
  • Mario the Younger (WMAR +3.5%) and Nicole the Elder (COLM +3.3%).  The NFL season kicks off next week; the Machis are doubtless hoping for a belated wedding present from the Steelers.  In fact, the more belated the present, the better; how about a delivery date of February 3?

Decliners

  • Brinkley (BCO) -1.7%.  He’s going to have to go to the stupid-baby doctor if he doesn’t talk by 22 months.  The clock is ticking, boy.
  • Ruby (RJET) -3.5%.  One of these days Ruby’s going to come back from an extended business trip and Mario T.E. will have moved them to a new house without telling her.  Is there any other stock in the FSX facing surprise-house risk?
  • Jodi Ann (JOY) -4.0%.  You get used to the last name.  Katie’s almost there and it’s only been…13 years.  And Jenny still struggles.
Name Ticker 8/31/2012 Change
Brinkley BCO $22.26 -0.39
Charlotte ICE $136.70 -0.40
Dustin DST $50.88 -0.37
Icarus ICS $16.23 unch
Jenny JNY $12.67 +0.74
Jodi Ann JOY $53.38 -2.21
Justin SCI $13.04 +0.10
Katie CATY $16.37 +0.21
Lee MSTR $125.51 +0.93
Lisa LNCE $23.39 +0.02
Lucas LEI $1.67 -0.12
Lulu LULU $65.19 +1.32
Marcus MCS $12.91 +0.03
Mario T.E. MGEE $49.44 -0.69
Mario T.Y. WMAR $10.40 +0.35
Marisa MOLX $26.55 -0.59
Namilita NL $11.66 -0.52
Nicole E. NICE $31.28 +0.22
Nicole M. COLM $52.29 +1.68
Reagan REGN $148.05 +2.96
Ruby RJET $4.45 -0.16
Wilson WILC $4.17 +0.16
Winston ED $60.62 -0.80
Zero ZIP $7.90 +0.27
Zondro ZQK $3.13 +0.09
Advertisements

Leave a Comment »

No comments yet.

RSS feed for comments on this post. TrackBack URI

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Blog at WordPress.com.

%d bloggers like this: