Monday, April 13, 2009

Another gloomy Monday


It was not as prosperous weekend as I thought it would be. As soon as I landed in Edmonton, Steve picked me up and we headed to River Cree, it was a long session of poker. The longest session I have ever done, 28 hours straight. I played really bad for the first 12 hours and dug myself in a hole for 8 bills. Thanks to a few good hands in a row which got me right back into the game. I had KK when 3 people were all in and the pot was about 2K. I got lucky that it held up.

At the end, I came out with 8 bills plus, I am not too unhappy.

DOW looks gloomy as the weather around here this morning. I am glad that F, AIG, HIG and FNM are doing moderately well, also good to see OPC is still gaining ground.


Here are some highlights from today:

- NEW YORK (AP) -- Wall Street is retreating as investors await a flurry of earnings reports and data that could provide insight into the direction of the economy.
- Several big banks are bucking the market's slide Monday as investors buy their shares ahead of quarterly results due this week. But traders were uneasy about a New York Times report saying the Treasury has directed General Motors Corp. to lay the groundwork for a potential bankruptcy filing by June 1.
- DETROIT (Reuters) - Shares of General Motors Corp plunged 16 percent on Monday as traders shed positions out of fear the U.S. government will push the automaker into a bankruptcy that could wipe out existing equity.
- GM, which is operating under $13.4 billion of emergency government loans, has until June 1 to win sweeping concessions from bondholders and the United Auto Workers union.
- SIOUX FALLS, S.D. (AP) -- Oil prices fell below $49 a barrel before recovering some Monday, as investors reacted to slipping stock markets and an International Energy Agency forecast for a drop in global crude demand.

No good news to share today. I am hoping for some positive news that will shine toward the middle of the week. I am hoping for some sparks. I hope that we all have a good week.

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