Take ’em up?
They want to take them up, no doubt. There cannot be any news that would justify the move. But everyone is weary of down, down, down. Lets see if it holds here. SSO is the preferred vehicle for upside move. From Mish a reality check …
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Nibbling?
Is it just me or is there really some nibbling in the stock market? The Russell Index, which was down 7% on Friday refuses to budge and is actually green as I type. That may not last but there does seem to be a lack …
G20
The lack of positive news from the G-20 meeting in DC disappoints almost everyone. In Asian trading the Dollar and Yen move up as Japan it the latest country to slip into recession. Not a promising sign. Tomorrow news includes the Goldman senior execs giving …
So, wanna catch this falling safe?
American Express, -21% J. C. Penny, -23% GE, -15% Boeing, -15% BancAmerica, -20% Hewlett Packard, -12% Talbots, -47% Austria, -18% Russia, -14% Intel, -9% The above share price declines are not for a year……. but for last week. This wealth destruction cannot be over stated …
Anyone’s Guess
This week seemed to have lasted two. The volatility was exhausting. Unless we get nationwide guarantee of mortgages I cannot think of another Bandaid the feds could implement. Should we not get a market bounce by Wednesday the market heads even lower.
Better than Speed-Do NOT try this at Home
Direxion unveiled their 3X ETFs last week. These things move at three times the price of underlying stocks. Gotta tell ya its a rush. BGU is 3X Bull large cap. BGZ is 3X Bear large cap. TNS is 3X Bull small cap. TZA is 3X …
One Day Wonder?
Hope for a follow-through day is fading in the face of more and more layoffs, reduced earnings expectations, slower sales, disappearance of the consumer. If we really had a successful test of the lows yesterday then we must have a follow through day within the …
Afternoon Ramp–up almost 7%
Volatility returns with a vengeance as market has massive turn-around rally. The DOW has an astonishing 911 daily point swing and finishes at 8,835. S&P even more dramatic with a 10% intra-day rally and some will say the lows were tested. If so, we could …
The End of Wall Street
Michael Lewis has done it again. From Portfolio Magazine, his great piece on the Street. Before you do anything else please open this Click here. print it and read it.
Buy the Dip
Early Asia trading is off 5% across the board. Our opening is likely to be down big. Today’s repudiation of our government’s plan (such as it is) and Intel’s awful guidance will cause more sellers in the morning. We could get a bounce as sellers …