Markets: Several emails asking about "base building" on the stock market and where to see it. Click on this link to a weekly chart and reset on the left to a 3 year time period and you will see that this base, if it is a base, has been building since January '04. The inner tech signals are all bullish. And any base that lasts a year and a half or more explodes, one way or the other.

Cramer? and WTF is he doing. Well first, it's a stunt and a good one. There used to be a guy even better called, The Silver Bear, who actually did have every penny stock in his head and could answer any question about any company instantly. First, Cramer calls come through a screener who can pull the stock up, and he'll not post one Cramer cannot answer. The thing that is sad about his show is that 95% of the dopes who call in are calling about a stock that should have been sold six months ago; they are uniformly disasters before the call. How about his tips? I don't know, half the time I can't understand what he's saying. I sure wouldn't take his recommendations without doing a lot of checking because EVERYTHING he touts is already in the market. Aside from all that, he really is trying to do a service in his own loud mouthed way.

Now for some bad auto news: featured story yesterday in the Detroit papers:

GM in Dire Straits

Detroit is drowning in the saliva of drooling bankruptcy lawyers. Both papers in Detroit today had some very scary headlines that included ‘GM’ and ‘bankruptcy’ in the same breath — it’s one thing for Autoblog readers to predict these things, but to actually see it in print in the two local papers is something else entirely. Some analysts on Wall Street are talking a 40 percent likelihood that GM will file within the next two years.

I cannot tell you how bad this news is, and like the oil price rise, this administration will do nothing.