Watch it!
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.
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Mead Johnson IPO
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 Pharmaceuticals
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 …
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 …
Spanked!
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, …
Very Impressive
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 …
Mid-Morning
As expected, the averages are giving back a little. The bulls are trying a rally at these levels. NASDAQ, which has been stronger than the S&P recently, seems the best approach. The delay in Geithner’s speech on bank bail out doesn’t seem to be a …
I’m B-a-a-a-ck
It will take heroic work by the bulls to maintain Friday’s welcome bounce. There is likely disappointment for the stimulus and bank plan as euphoria melts into reality. And, there is always that nagging feeling of not knowing what else can be done if these …
Not Great–worst January since 1970
January, which is supposed to be a harbinger of the year to come, experienced a drop in the S&P of 8.6%. That is on top of the 38% lost last year. The bulls could not hold ’em. In the last half hour the averages gave …