Fri Apr 30 – Weekly Recap & The Week Ahead
Monday, May 3rd, 2010The market dropped sharply the week of Apr 30, 2010 due to the following:
1. GS is now under criminal investigation; This further compounds their problem (civil fraud charge) by the SEC. GS possible buy around $110 area;
2. Oil spill spreads to the fishing ground and wildlife areas of the Gulf of Mexico; BP, RIG & CAM sold-offs; (Similar to the Exxon Valdez oil spill in Alaska – 1989); See WSJ comparison
3. Greece awaiting bailout package by May 3rd, 2010; The amount exceeds $100 billion; Next, Portugal’s debt is coming due and Spain’s unemployment exceeds 20%; An indepth and detailed report from Weldon Research regarding Greece, Portugal & Spain.
4. Unemployment assistance phases out at the 99-week limit ;
5. Home Buyer Tax Credit expires Apr 30, 2010
6. Investor Bullishness hits high
For the following ahead,
1. Berkshire annual meeting on Weekend of May 1 & 2.
2. Mon, May 3 — Greece bailout expected by the EU/IMF
3. Tues, May 4 — factory orders