The market internals (advancing stocks vs. declining stocks, up volume and down volume, etc.) were better than the averages. Volume was about 300 million less than yesterday. As noted earlier, we flirted with S&P 822 but bounced off with news of stimulus approval. Lest you …
Watch S&P 822. We have been flirting with it this afternoon. A decisive close below would suggest a re-test of the November lows. On November 21st the index fell as low as 741 before finishing at 800.
Spin-offs from larger companies tend to be attractive stocks. The feeling goes that the mother-company would not spin off a dog. By spinning a dog of a division to its shareholders and to the public the mother company would suffer from investor back lash. Academic …
Cubist (CBST) makes Cubicin which is an effective treatment for MRSA. MRSA is an awful, highly infectious infection contracted in hospitals. It is not airborne, you must touch it, or be touched by it. Traditional treatment for MRSA has been Vancomycin. Vanco, as it is …
The chiefs of the county’s largest banks are winding down their opening speeches. The common thread is that they ALL spend the TARP money responsibly and the government and country is getting a great return. As the committee members begin their cross-examinations watch for the …
Markets opening firmer. DOW doing better than NASDAQ as RIMM weighs. Here is a site to watch how your money may be apportioned: StimulusWatch.org. Gold continues to attract. GLD, the ETF, is now my largest holding. Gold is $932, up $18 as I type. Am …
I was away from the desk for most of the day so I missed the fireworks. The market’s disapproval with Washington led to a decline in the S&P of almost 5%. Sell stops were ticked-off as traders tried to protect profits, if any. As suggested …
Early morning futures have been improving. But the world watches with faint breath as the bank bail out plans are about to be unveiled. From what I have gleaned I would like to participate. But I had better wait for the details. And, of course, …
As a detractor of President Obama’s recent actions I find myself under the renewed aura of his spell. His press conference was vintage JFK without the humor. He was precise, honest and earnest. It was a great show. Lets see if my optimism is carried …
A Ho-hum day with pretty good volume. If GE hadn’t advanced almost 14% the Dow would have been down more. Everyone waiting for particulars of bank bail out. Tonight’s must see TV with the President’s press conference had best be convincing or the overnight trade …