Quick, name the Senators from South Carolina Ok, you got Lindsay Graham. But the state has two senators, who is the other? Answer: Jim DeMint. To paraphrase the WSJ: He is described as the kind of uncompromising conservative who can make the senate leaders’ life …
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Phew! That was close.
The S&P headed toward to 800. If that had been broken the flood gates would open, even bigger than today’s decline. While a 5.2% decline is not sublime it could have been much worse. Lets hope for some modestly good news overnight so we can …
No Prisoners!
Was just reviewing the bank stocks. I feel smug about suggesting that Bank America was headed to a hat size when it traded at $14. Did I follow my advice? Nah. Short 100 shares? 1000? Nope. Put a $1000 into puts? Nada. Idiot. I checked …
This market is way oversold. But I am waiting. For now, cash is king. Sold PALM; when you get 38% in three days, sell Stopped out of FCXprM and JNK. These were two of my great ideas to participate in rising copper and gold prices …
RBS looses 2/3 of value
Asia up modestly. Early Tuesday trade: Australia and Japan now off 3%+ and Korea off 2.5% and counting. Even Korea, about which I worried yesterday, in the face of purported “weaponized” plutonium by North Korea, up over 1%. As suggested last week, Spain looses its …
Guess Who’s Coming to Dinner?
Last week I was concerned that the Obama (why do I always want spell it O’Bama?) glow was peaking. And I worried that this may have an impact on markets. There was some evidence for my concern: Majority Leader Reid’s comment , “I don’t work …
Lazy Portfolio Performance
Found this on thekirkreport.com: http://kirkreport.com/tkr/Fp6yBa This will take some study but first glance is not encouraging.
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 …
Well, we got it. Not much of a bounce but I’ll take it. The market didn’t close on its high but what can one expect? Covered my inverse ETFs (SDS. SKF) in the nick of time but missed the best tick. Took a dose of …
Palm
Am still interested in Palm (PALM) because of its new Pre smart phone. Not available for a couple of months it looks like a winner. The question then will be if anyone can afford it. Doubt that many will be giving up their cell phones …