The Kirk Report

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Floating By Posted: 02 Jun 2009 09:38 AM PDT Boom times are back! Is the stock market rally just an illusion? Are you expecting a V shaped recovery? U.S. economy has rocky road to recovery The Fed's balance sheet - what happened and why it matters The next crisis has already begun Prepare for another $200 billion in equity issuance Let's all blame Regan for this mess In the long run, U.S. borrowing will be devastating Are you hyperventilating over hyperinflation? Understanding Taleb Why are the debates in academia so bitter? Because the stakes are low Less bad PMI good for equity returns Pending home sales surge Why Americans are saving more - shrinking salaries Just call me Mr. Frugal Where's the smart money going? Jim Welsh's investment letter "Don't make trading so hard please. Find strong stocks and get long. Find weak stocks and get short. And don't fight the trend of the market." - Bella * More links have been posted at the members' only area. This posting includes an audio/video/photo media file: Download Now

Lackluster Headlines Posted: 02 Jun 2009 06:30 AM PDT Good morning. Premarket futures are pointing lower following some lackluster headlines. Top stories in focus include the fact that banks are selling more stock to raise capital to repay back TARP, a drop in chain store sales last week, confident comments from Geithner in China, and news that Eurozone unemployment reached the highest level in nearly a decade. Premarket gainers: HLND, CYTK, DDUP, NAVR, ONAV, APAC, NTG, EMKR, EPEX, ROS, SAY, UNFI, RMBS, CDNS, GA, OREX, DV, PARD, ALVR, FEED, CATY, SEED, UNTD, DOV, FREE, OI, ELN, GOLD, & UFS. Premarket losers: DCT, BCS, GM, DCT, LAYN, MTZ, ITW, LRCX, CEO, PTR, CMP, HGG, AAUK, C, ICON, DAKT, AVAV, JNPR, BLUD, ALTR, ERIC, CTIC, STI, DTV, & FITB. At 10:AM we have the pending home sales report and throughout the day motor vehicle sales reports from May will be released. The pending home sales report will be a market mover as the market continues to hope to see steady improvement. We're a tad bit overbought following yesterday's breakout so some sideways consolidation is ok as long as we don't see a complete reversal of fortune from yesterday. S&P 926 is the simple 200 day moving average so holding above that on a pullback this week will be key. Go make it a great day!

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