The market hates uncertainty and Tuesday all Wall Street could do was watch with despair as stocks were sent plunging. The market sat on the fence on Monday and traded flat and that was pretty much the deal until Treasury Secretary Timothy Geithner spoke. The more he spoke however, theRead more
The financial stocks opened strong this morning despite the fact that futures were sharply lower this morning. Also, the $700 billion financial bailout package was scheduled to be unveiled today, but that got pushed back until Tuesday as Congress focuses on the stimulus bill. Here is a look at theRead more
1. Commentary 2. Straddle’s Part 2 (Amazon Keeps on Rolling) 3. Financial Sector (open positions) 4. Akamai Technologies 5. Current Trades 6. Earnings 7. Closing Thoughts ************************************************** 1. Commentary The market had an outstanding week and it has been a minute since I have said that. For all of theRead more
With 15 minutes left in the trading session, the financial stocks are going gangbusters. Bank of America (BAC, $6.15, up $1.31), JPMorgan (JPM, $27.54, up $3.00) and Goldman Sachs (GS, $95.17, up $2.32) are making huge moves. The February options I listed this morning are doing well and can beRead more
The buzz on Wall Street this morning is the availability of the just released list for the thousands of victims who lost money investing with Bernard Madoff. We can now add Bernie to the six-degrees of actor Kevin Bacon. Even Madoff’s defense lawyer is listed. The 162-page document was filedRead more
1. Commentary 2. Financials 3. Techs 4. Biotechs 5. Earnings 6. Closing Thoughts ************************************************** 1. Commentary The market continued its slide as the all three major indexes lost ground again last week. There was strength in certain sectors while other sectors continued their volatile ways, especially the financial stocks. TheRead more
Hello $30’s, goodbye $40’s. That is the story with HSBC Holdings (HBC, $39.00, down $3.19) which is down another 6% today along with many other financial stocks. The Dow managed to start off in positive territory but is currently down 152 points to 8047. The Dow briefly dipped below 8000Read more
