Rick Wagoner out at GM

Rick Wagoner resigned today at the "request" of the Obama administration as part of getting more bailout money....Whether you liked him or not this is a sign of things to come...Do business with this government, taking bailout money, and you will lose control of your business. Bankruptcy is imminent.

Thoughts of the Day

Big rally this week...The market might trade sideways for a while which would be a good thing.

I bought LVS this week at $2.35 a share...So far so good.

Stock market looks like it is getting ready for good news this summer....I would look at NKE, ANF, MRO, LOW, & EBAY and get a little less defensive.

Speculation Time!! ....C, BZH, TOL, HOV, KBH, XLF...ehh they all couldn't hit zero.

Some folks like natural gas plays right now...Not me. Driving season is coming and there will not be enough gas or oil to go around. Natural gas plays will work in late summer.

Debt

Companies are paying down debt..Bodes well for them in the future over companies who are not able to right now...

Ford Motor

Ford Announced today they have begun paying down some long term debt...Somewhat surprising...I took the plunge and bought some...GM or Chrysler going belly up could derail their momentum though...

Ford Motor

Ford has contracted out to Magna to build them an electric car. Looks like it could be ready by 2011....100 miles before having to charge but no gas engine. Could blow away Chevy Volt...

DOW Chemical

Well I bought DOW today at $8.06 a share. I think the value of their business units is worth more than the market cap...

What's the point of this whole thing?

I am not Jim Cramer, Vince Farrel, or Mohamed El-Arian. I'm probably not going to make anyone a million dollars if they listen to me. This is just for fun and not meant to be any serious advice. Although if by some freak of nature you listen to something I say and make a few bucks, feel free to post a comment.

Thoughts of the Day

This week, the Fed decided to buy back treasury bonds. If you remember, I said they would do this a few weeks back and they did :). This will be the start of inflation and as a result gold went up almost $60 an ounce and silver almost a $1.50 an ounce. I hope you all bought some or the miner stocks.

I bought Citigroup at $1.28 a share last week. I sold it today at $3.25 a share. Was this good? Yep soon after they announced they were converting billions of preferred stock to common stock and considering a reverse split....it went down 15%. It will be back near $2 next week sometime.

I bought GE at $8 something and sold it today at $10 something. It wasn't going to go up more without the big dividend and no earnings growth....Was this good? Who knows. it might go up a bit more but then it will sit there and not do much..much like some coworkers of mine.

I'm going to buy Dow Chemical tomorrow. I think there is value there and it is profitable after the beating it has taken.

Want to try something advanced? Buy EUROS....the rate will be back to 1.50 or more by the 4th of July.

Research in Motion works for me as a less defensive stock.....

JPM works for me as a bank to hold onto...That Jamie Dimond is one smart guy.

Well time to get my laundry and watch Michigan beat Clemson.