The bulls succumbed to the bears in the last hour with the last fifteen minutes ugly. The Russell 2000 was down almost 2% while the S&P 500 was off about 1.5%. The sell offs during the last few minutes are troubling.
Am thinking Yahoo may finally be worth a speculative buy. The new boss is taking no prisoners as she engineers a more streamlined team. And with Microsoft playing footsie with on search a deal could be advantageous to both.
The Canadian ETF, EWC, responded to a better oil market.
Silver, or SLV the silver ETF, has corrected from $14.30 last week to below $13 and may make an interesting spec. Metal is down almost 6% today.
Copper up as China restocking rumor gains strength. Freeport McMoran (FCX) was having a great day until 3pm. The preferred (FCXprM) also up and still yielding 13%.
Did I really read that GM lost $85 million a day last year?
On Tuesday we went to dinner at our favorite little bistro. We were the only two at 6pm until a threesome arrived around 6:30. On the other hand, the lower priced restaurant parking lots are packed. Last Saturday we had lunch at Panera Bread, packed. Another reason why PNRA is the best performing restaurant stock over the last decade.
