Well, the Dow was green for about fifteen seconds this morning. But not all of the thirty stocks had opened. Nevertheless I guess that was our bounce. I read that yesterday’s action violated all sorts of technical levels; I don’t pretend to understand all of …
From tomorrow’s WSJ comes a story hard to believe, It must be a mistake. B of A needed government funds to close the Merrill deal. Here is Barry’s take on it, and he is angry. Time to Fire Ken Lewis of Bank of America Asia …
An op-ed piece in the WSJ by Paul Kennedy must be read. Try to get it. Here are some of his points: America will lose more ground in the years to come than other nations due to exceptional budgetary and trade deficits. No one seems …
The first hour has been brutal. Mining stocks vie with banks as biggest loosers. Citi off another 14%. Spanish stocks being crushed as the threat of the loss of AAA debt rating. Under Armor and Bunge down about 15%. UBS off 8%+ as one their …
The early trade looks awful. Bank stocks are getting crushed overseas. Barclays is laying off 2,000 today after dismissing the same number yesterday. Citi, whose largest shareholder is now the US government, is trying to reinvent itself and the market hates it. JP Morgan is …
The market has been oversold for a couple of days. Yet, the bulls don’t seem to care. I was banking on hedge fund managers, hungry for redemption, to go long and for the Obama glow to last a while longer. Now, am not sure that …
Bank America looks like its going to a hat size. One money manager has said he pulled assets from BAC as the integration with Merrill looked shaky. The financials could lead us back down and having BAC go below $10 would be ugly, ugly. Barclay’s …
Despite improving futures during the early morning the market cannot find an incentive to rise. Turn around Tuesday may still find some reason to cheer. Despite oversold conditions I bought more SDS yesterday to protect my longs. Keep an eye on Google, GE and Goldman …
As earnings season opens it is helpful to check to see if companies you own or have an interest in will be reporting. I was reminded of this site US Earnings: Company Earnings Calendar by The Kirk Report this morning. State tax receipts are being …
Stopped out of Peru Copper (PCU) and my Freeport-MacMoran preffered is getting whacked as copper and gold falls. Oil continues free fall. Gold having trouble finding support so am getting stopped out these positions as well. Stopped out of Bunge last week as soy bean …