I think not. Auto Bale out died in the Senate. JPM's Dimon says they are having a terrible quarter, BoA cutting 35k jobs, US Bancorp seeing $1 billion write down in its future, Madoff cheated 50billion and we have retail sales numbers tomorrow...(not to mention 500k+ jobless claims)
I am suspicious about the retail numbers that will be coming out tomorrow. Many companies are seeking to monetize their inventory in prepartion for filing for bankruptcy in the new year. I suspect that a number of retailers will have good sales but aweful profits when those get reported next year.
With large numbers of small business and big/small retailers going under, there is going to be a ton of non-performing commercial real estate out there. Anyone following GGP? Did they get an extension on their extension for debt payment?
SRS is the place to be. And if you are a big time gambler...SRS options! (ok those even scare me :)
Thursday, December 11, 2008
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