The Monday blues continues

We are observing another bad start of the week and we don’t know why. When I woke up this morning, I actually thought I would see a good start for DOW and TSX. It was not meant to be. I was excited to complete at least 5 trades but when I went to the trading account, I was clueless. This is so disappointing and draining. In my mind I was saying “Just get better already”. AIG, FNM, OPC, AMNE, F, and VSTN are in the dog house. The dark horse CEMJQ is still shining and I think it’s on its way. I hope that it meets the expectations.

- NEW YORK (AP) -- Investors turned away from stocks ahead of the latest government report card on banks. Stocks fell Monday, sending the Dow Jones industrial average down by about 100 points at times. Overseas markets also pulled back. The government is expected to announce as early as Monday which banks will be allowed to return bailout funds. JPMorgan Chase & Co., Goldman Sachs Group Inc. and American Express Co. are expected to get approval to repay their loans, according to The Washington Post.

- KUALA LUMPUR, Malaysia (AP) -- The world's airlines will collectively lose $9 billion this year -- nearly double the previous projections -- and face a slow recovery as the economic crisis saps air travel and cargo demand, an industry body warned Monday.
The International Air Transport Association, which represents 230 airlines worldwide, increased its loss estimate from the $4.7 billion it forecast in March, reflecting a "rapidly deteriorating revenue environment."
Although there has been growing signs of a bottoming out of the recession, IATA said the industry was severely hit in the first quarter with 50 major airlines reporting losses of more than $3 billion. Weak consumer confidence, high business inventories and rising oil prices pose headwinds for future recovery, the association said during a two-day global aviation conference in Kuala Lumpur.

- The recession's grip loosened slightly this spring as seasonal hiring picked up and helped offset rising bankruptcies and foreclosures, according to the Associated Press' monthly analysis of the economic pain in more than 3,100 U.S. counties.
The latest results of the AP's Economic Stress Index show the free fall that marked the autumn of 2008 and winter of 2009 gave way in April to a more controlled descent, possibly even a bottom. Still, the analysis found that pain remains high compared with year-ago levels.

- SEOUL, South Korea – North Korea convicted two American journalists and sentenced them Monday to 12 years of hard labor for crossing into its territory, intensifying the reclusive nation's confrontation with the United States.

Hope we all have a good week.