In all the excitement this week I skimped on some fundamental/economic stories to focus more on the market and transactions. So we have some catching up to do.I said long ago as the economy weakens the last things to go would be teenagers and their Abercrombie (ANF) $100 jeans, and video games/gadgets. Well it appears all we have left now are the video games/gadgets. You know Americans are "pooring" when they won't even splurge on their kids. (Note to Bloomberg reporters - $50 jeans? In what Abercrombie store did you not visit to file your report?) (Note to Wall Street pundits - what will it take for you to admit we are in recession?)The financial pressures of adults are finally catching up with American teenagers. Since summer jobs dried up, gasoline prices topped ...

I am not going to review the earnings for fund holding, homebuilder DR Horton (DHI) because they stink, we all know they stink, and we all know they will stink. But the stock goes up no matter what bad news. :) "everything is priced in" Fannie Mae (FNM) - as I wrote in the preview yesterday they will be horrid (check!), but as long as it's "not as bad as expected" the stock could go up. Check! Up almost 10%. MGM Mirage (MGM) - bad earnings, decreasing revenue but "not as bad as expected", the stock was up 6%. Check! Let's look at this one a bit closer since it's one of my favorite industries to watch - now the thesis is foreigners will come to Vegas since it's so cheap for them with our weak currency (true), but I don't think it will offset the ...