Sell the news? Traders lock in gains in early trading. Cannot blame them. The leaks of the stress test results are all over the place. Oddly, Bank of America is expected to be short billions and billions of capital and the shares are up 15%. Goldman Sachs is expected to be OK and shares are down 2%.
Speculation is in full flower as buy and hold investors double up, trying to get even. Capital One, the once hated credit card company, is up over 35% in two days.
Those looking to play both commodities as well as retail might look at The Andersons (ANDE). This company has an odd mix of silos for storage, ethanol, corn, as well as a retail operation in Toledo. ANDE reported better than expected quarterly earnings yesterday but did not provide future guidance. While in college in Toledo we would often go to the retail shop for their good prices. In back of the retail shop were huge silos and I would enjoy watching the trucks drop their grain into the hoppers. I was smoking back then so I could not get too close; the fine dust from the grain is combustible. Caution; ANDE is up pretty, pretty big over the last week.
