Ugly Friday Market Review

I’m not grave dancing – I’m outlining alternative tactics in my own head (and begging for ideas)

  • A jobs report came out today, and it was the opposite of expectation. The Dow promptly tanked. I think there are still liquidity problems that need working out, and this just exacerbated the situation. Frankly, a few lost jobs would keep inflation in check – goddamit…I was just forced to spend sixty-five bucks on flies!
  • Speaking of jobs, Countrywide is now laying off up to 12,000 workers. That’s a lot of brokers and backoffice folks out looking for work, and I can’t help but think it WILL affect online advertising.
  • Another hedge fund comes clean – they were on the winning side of the subprime mess. The problem as I see it – it’s tough to gain a real edge unless you have tons of capital – there aren’t enough products available for the little guy to take advantage of.

I’ll ponder what to do while searching for trophy trout this weekend…not!

UPDATE: It seems the fixed income markets are looking for someone to blame…and finding it.

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