We’ve gotten to the point of the year for me where the coat goes away. First extended stretch of 60 degree + weather, and it’s gone, never to come back, no matter how cold it gets. On principle.
I still get this feeling that there is one more blast of snow coming in April. It snows at least once in April in Cleveland more frequently than it doesn’t. If you look at this graph, taking a look back at the last 60 years in Cleveland weather, historically, there’s about a 30% chance of snow the first 10 days of April … with that % decreasing as you get deeper in the month.
Browns coach Pat Shurmur said yesterday that he’s “ready to move forward with Colt McCoy as the team’s quarterback”. Don’t sound so excited about it Pat. If it makes you feel any better though, none of us fans are excited about it either. At least we won’t have to worry about going to Arrogant Mike Holmgren and “groveling to him for playoff tickets”. If you want to win six games, and do it in the least exciting and imaginative fashion possible, Pat Shurmur and Colt McCoy are the right picks.
Speaking of the Browns, if you’ve yet to see the latest You Tube from local comedian Mike Polk Jr., you have to check it out. Absolutely hysterical.
LeQuit James injured his ring finger. I didn’t even know he had a ring finger. I heard he couldn’t even get a ring out of one of those 25 cent vending machines at the grocery store.
It’s officially time to start rooting against the Cavaliers. Their loss last night moved them within one game of Detroit and Sacramento for the 6th worst record in the NBA. They have 19 games left. Here’s a look at the way www.nbadraft.net sees the first ten picks playing out as things stand now:
1 Charlotte – Anthony Davis, Kentucky Fr.
2 Washington – Michael Kidd-Gilchrist, Kentucky Fr.
3 New Orleans – Thomas Robinson, Kansas Jr.
4 Portland – Andre Drummond, Connecticut Fr.
5 Toronto – Harrison Barnes, North Carolina So.
6 Sacramento – Jeremy Lamb, Connecticut So.
7 Detroit – Arnett Moultrie, Mississippi State Jr.
8 Cleveland - Bradley Beal, Florida Fr.
9 Utah – Jared Sullinger, Ohio State So.
10 Milwaukee – Austin Rivers, Duke Fr
As if any of us needed another reason to be glued to our television sets this Saturday for the Final Four, four of those ten players will be in action.
Lastly we’ll get more into the Buckeyes/Jayhawks game on Friday, but with regards to “the other game” this weekend, check out this outstanding column by Dan Wetzel of Yahoo Sports on the rivalry between Rick Pitino and John Calipari.
Quote of the Day …
Dr. Rumack: Can you fly this plane, and land it?
Ted Striker: Surely you can’t be serious.
Dr. Rumack: I am serious… and don’t call me Shirley.
~ “Airplane” (1980)
Insane Fact of the Day …
No piece of paper can be folded in half more than 7 times.
We had the inevitable stock market sell off yesterday after Monday’s irrational surge off of Bernanke’s comments on the economy and the Fed’s commitment to accommodative policies until we’re out of the woods. The Dow sold off late after trading sideways most of the session, ending the day down 43 points after Monday’s huge 161 point rally. Treasury and mortgage bond prices rallied (yields fell) late in the session as equities (stocks) sold off.
The economic news yesterday came in as expected. Consumer Confidence for March fell from a reading of 70.8 to 70.2, which was right in line with expectations. The Case-Shiller national home price index showed that home values fell again in January to their lowest levels since 2003. But there were some positive signs to the index. In February, prices for new homes jumped 6.1%, and prices for existing homes rose by 0.3%. Prices rise when demand increases as more people make bids for new or existing homes. We’re not at “the bottom” yet, as people have been proclaiming and predicting for about two years now. But I think we’re close. I expect this to be a very good spring for home purchases. Homes are more affordable than ever. Rates are low. A good spring for purchase activity should finally end the downward death spiral to home values, which are likely to stabilize this year, and start appreciating (very slowly) starting later this year or early next. Especially if the Feds can figure out a way to get some of these foreclosed homes off the market and made into rentals, which has been a big factor in the drag down on home prices.
This morning, we got news that durable goods orders rose 2.2% in February. Durable goods are items considered to be useful for at least three years (such as vehicles, large appliances and computers), and the monthly release provides insight into demand as well as business investment. Expectations were for a 3.0% rise.
There are no other economic indicators slated for release today. Treasury will auction off some 5-year notes this afternoon. Tomorrow we get final 4Q 2011 GDP #’s as well as first time weekly jobless claims. On Friday, we get readings on personal income, core PCE, Chicago PMI, and consumer sentiment.
~ Easy Hand of Fed Guides Market to Quarter End
~ Bernanke: Gas Prices Could Lead to Hit on Growth
~ Case-Shiller: Home Prices Fell in January
~ Gas Tops $3.90 a Gallon
~ Durable Goods Orders Up 2.2% in February
~ MBA: Purchase Applications Rose Last Week
~ iPad’s Growing in Popularity for Businesses
~ Consumer Confidence Falls in March
~ Magic Johnson Group to Buy LA Dodgers for $2 Billion