Yesterday was one of those boring days. The U.S. market was down more than 200 points early on the trading day. (Please do not ask me what was the reason. There were so many things to explain in this big U.S. stock market.)
Okay, okay… Negative comments from Fed Chairman Bernanke, Fed Vice Chairman Kohn, and Fed Governor Mishkin have weighed on market participants’ sentiment at the beginning of the trading. News that Intel lowered its 1Q gross profit margin due to sharper-than-expected decline in NAND memory chips. Also, Citigroup fell down to a nine-year low after Merrill Lynch cut its full-year earnings forecast for the company. Merrill said the bank could take another $18 billion in write downs related to bad mortgage. The negative comments of the CEO of Dubai International Capital that Citigroup may need more funding to alleviate Citi’s financial woes compounded the worries (are we or are we not in recession?) of the investors.
To summarize, the confluence of negative news (disappointing earnings forecasts) and the pessimistic comments (from the central bank officials ) brought the market down.
Okay. Let me go to the bread.
Because it was all bad news for the market, most of the customers were very quiet except for the few brave ones who saw things differently. As this was the case, one of my officemates decided to go out and bought a bread called Tamis. Tamis is a kind of flat bread with a diameter of approximately 16 inches.
The dough is rolled out like a pizza dough then it is slapped on to the inside wall of the large round stone oven. The impact of the slapping makes the dough to stick to the wall of the oven. When it is done, a long wire hook is used to remove it from the oven. The finished bread is then thrown over to a tile counter ready to be sold.
Since the size is big and it is very hot (to handle), most customers use old newspapers or used carton boxes to carry the bread.
Sometimes I wonder if this is the type of bread that came down from heaven or the one they shared during the last supper.