The market started Wednesday off in the red and managed to turn things around in the afternoon before giving up its gains in the final two hours. There wasn’t any panic selling and it appears both bulls and bears are waiting to see how Friday unfolds with Triple Witching. ThenRead more
Market Retreats, Gold Stops Hit
Gold Stocks Continue Rally
Market Rallies After Fed Cut
Looks like Wall Street got an early Christmas present after yesterday’s surprise Fed announcement concerning interest rates. Most experts had expected the Fed would cut the rate for overnight loans between banks from 1% to 0.5% but jaws hit the floor when the Fed said it use “all available tools”Read more
PowerShares QQQ Trade Update
Goldman Sachs Reports First Ever Loss
A collective sigh of relief was felt by Wall Street this morning when Goldman Sachs (GS, $71.46, up $5.00) reported earnings. Not that they were worth cheering for or anything…the company lost over $2 billion for the quarter. It was Goldman’s first quarterly loss since it went public in 1999.Read more
Nike Update
Gold Stocks Shine
With the Fed meeting on Tuesday, Gold stocks are enjoying some nice gains today. There seems to be some investors scaling back into gold with December and January call options. Barrick Gold (ABX, $33.39, up $2.07) December 35 call (ABXLG, $0.80, up $0.50) January 35 call (ABXAG, $2.70, up $0.95)Read more