A “normal” options expiration day with the Dow as high as 8340, low of 8109 and closing at 8280, up 68.
Advancing issues led decliners 2:1 on moderate volume, so the internals were petty good.
Banks continue to get crushed. BAC down yet another improbable 14%, closing near its lows. Barclays’ Bank was down 25%+ at one time, closing off 14% with an indicated dividend of 31%. Wanna bet if that will ever be paid?
PALM up 35% in two days. Shoulda/woulda/coulda bought more.
I will be reviewing several companies over the weekend: Annaly (NLY); an income idea with a good history. But am wondering if their dividend distributions will be impacted by lower bond prices, as are expected over the year. And, I will take a look at the electronic schools: Since they tend to trade as a group here are the symbols: CPLA, COCO, DV, ESI, STRA and APOL. The group is up pretty dramatically but more and more individuals being fired so the school’s enrollments are swelled by people re-training themselves.
And here is Ben calling for Dow 12,000(!) by late March. Lest you think him nuts you should know he was way out in front of this decline. Ben comes on at 2:20 into the tape. Trading Buzz
Make it a great three day weekend! It will be cold almost everywhere so indoor sport will have to suffice.
