Cuttone and Co. Inc.

Like a patient stoically enduring a lengthy and painful dental procedure, investors have been gripping the armrests and looking towards to the end of the trading year.. Benumbed by the events of the fourth quarter and all too aware that another painful root canal may lie in the near future, traders would like nothing more than to turn the calendar page on a horrific 2008. A reduction in volatility to what was until recently considered to be elevated levels has added to the sense of running out the string and today promises much of the same action.

 

Anxiety regarding the availability of

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Traders will be hanging their stock charts by the chimney with care this evening, in the hopes that St. Ben will be there with presents for all of those who were nice during a naughty year for the stock market. Quite a few will wind up with coal in their stockings, (not as welcome as last year: remember those high energy prices?), but hope springs eternal during this season of giving.

There are a few significant economic numbers out before this morning's abbreviated session and while they may not impress, only a grinch will be likely to do much selling today. Trading is likely to have a pro

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I’m starting to believe that we've entered a bizzaro universe.

In recent months we've witnessed a Republican administration overseeing the biggest government expansion in our nation's history, heads of Wall Street firms are turning down bonuses and some T-bills are now boasting negative returns. What are we going to see next? The governor of Illinois arrested for trying to sell the President-Elect’s senate seat?
 
Oh. Wait…..
 
Stocks futures are higher this morning as relief that a deal to put domestic automakers on life support appears to have been reached. That relief may be short-lived when

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Optimism that President-Elect Obama will soon open a spigot and aim a fire hose full of cash at the smoldering remains of the US economy lifted stocks in yesterday's session. Combined with international plans to undertake similar programs, the world will soon be awash in cash and the prospect that the economic firestorm will be extinguished has lifted stocks worldwide. Investors were also buoyed by indications that legislators are nearing agreement on a plan to shower US automakers with government largess. With all of this money about to gush forth, the market seems to be asking: what is

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Today marks the 75th anniversary of the end of prohibition as Utah (of all places!)became the 36th state to ratify the 21st amendment to the United States Constitution. The repeal of the 18th amendment during the depths of the great depression gave imbibers a reason to celebrate on that early December evening even though a goodly number of the celebrants had been drinking in speakeasies throughout the prohibition years. Well, as we all know,  an excuse for a party usually results in one taking place. 

Despite  a string of announcements heralding layoffs and lowered corporate earnings guidance

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With Central bankers lowering interest rates faster than the limbo bar at a party for contortionists, traders are hoping that a rally in European stocks will precipitate some dancing on Wall Street this morning. A trial balloon discussing a potential Treasury Department action designed to lower 30 year interest rates has also brought a little cheer to investors this morning, although the details of the plan remain sketchy.

The market has had a good run in recent sessions, rallying yesterday in the face of bad economic numbers and that sort of action is often thought to signal an improvement in

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On this date in 1979 , eleven people were trampled to death before a Who concert at the Riverfront Coliseum in Cincinnati, Ohio. The fans were crushed when they were trying to reach unreserved seating for a show that was part of The Who’s first tour after Keith Moon’s death. That tragic accident led to procedural changes at concerts that are in effect to this day. 

Investors can be forgiven for feeling like the victims of a stampede themselves. The herd mentality is in full force on Wall Street and you had better guess right if you want to play in the markets these days. Swift, sudden

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Talk about post-holiday depression!

For many investors yesterday was a return to the market after a long four day Thanksgiving Day weekend. After a week-long feast that saw the market put together its best sustained rally in ages, traders concluded that the market looked bloated and they decided that a diet was in order. In short order, the session turned ugly and the major indexes shed a ton of weight, ending the day 8 to 9 percent lighter.

Besides profit taking, the main cause of the sell-off appears to be the the growing belief  that lean times are spreading globally. Discouraging overseas

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