Barrow Bits

BioSpecifics Technologies

Readers may remember my mentioning BioSpecifics Technologies as a stock to watch.  The company just posted results that were nothing short of terrific.  I believe this is a very undervalued stock.

Mixed Feelings on GM

I must admit that the firing of Rick Wagoner by President Obama does not on a very basic levelmake me very happy.  The fact that the president is now removing the head of a public company gives me great reason to pause.  However, there are mitigating circumstances that temper my apprehensions.  First, Wagoner deserved to be fired.  He did a lousy job, and was not the person that could lead GM out of the auto wilderness.  Furthermore, be careful who you sleep with.  GM has been begging the government for financial help and without it they will go bankrupt, so there was little choice but to give in to Obama.  Meanwhile, the stock market is rattled and with G-20 not looking promising this may be a tough end to the month.

The Obama Rally

Ever since President Obama took office the right wing nuts have been yelling about the stock market going down because of his policies.  It was a vote of no confidence in the Administration which was causing the Dow to plunge.  These creeps have been strangely quiet this months with the market up about 20%.  Could this be an Obama rally we have all been waiting for? 

Stores are still closing

I have been out of town for a few days, and yesterday I took a long walk and was once more amazed at the number of stores that have closed.  In the course of being away for a week one of the Village's long established pizza parlors closed, leaving nearly an entire block of Hudson Street with for rent signs.  In all my years in New York I have never seen anything like this.  New York is on a down swing and things now look very bleak.  Although there are numbers suggesting the national economy is turning around, you sure can't tell it by walking around the city. 

Good news on housing

It appears that the depression in housing may be coming to an end, and if that is happening that is good news for the stock market.  As the linked article on economic data suggests housing is coming to life and that is very good news indeed.

All Obama all the time

It's really getting to be too much.  Every time you take a breath there is President Obama's face on the tube.  Really, enough is enough.  Talk about over exposure!! I thought the late night appearance was really over the top.  Come on Barack you are president of the United States, and you should should be more dignified.  Last night on 60 minutes the president laughed his way through the program.  This is really the dumbing down of the presidency and I don't like it one bit. 

Enough to make you sick

Watching and listening to the comments of various politicians concerning the infamous AIG bonuses is enough to make one sick.  The outrage!  How dare them!  Of course these same characters are the ones that knew this was coming.  They let it happen, and then they act surprised and outraged.  The level of incompetence seems staggering.  I'm growing more disappointed by the day in Obama's management style, and the folks he has chosen to advise him.  Can't see how this can build long term positive market sentiment.

Is housing turning around?

A number released this morning may indicate that the housing situation may be turning the corner.  Specifically, construction of new homes soared by 22.2% in February, exceeding estimates by a large margin.  Another number that was encouraging was that producer prices did not decline as much as expected, indicating that deflation may not be a problem after all.  Of course, this does not indicate that everything is now fine and that the stock market will respond with a big rally.  However, it is mildly encouraging.

Can the rally last?

The futures are pointing up this morning which may result in another positive day for the market.  This rally may have some staying power, but I have my doubts.  For the most part the stock market is recovering from a very oversold position so I think the rebound is purely technical in nature.  Hope I'm wrong but economic conditions still don't strike me as being much improved so the longevity of this rally is really in question.  Would still be inclined to sell on strength.

Cramer gets his

One of my least favorite people in the world is Jim Cramer.  He is consistently wrong and obnoxious which is a lethal combo.  I can't understand why anyone would listen to his advise.  Anyway he really got his due from  Jon Stewart, who is now one of my favorite people.