12:25pm (EST) After a lower open, the market is trying to recover and is mixed as we head into the second half of trading. Tech has been weak but the Financial stocks have shown some strength following Friday’s pounding. Earnings are winding down and this week Wall Street will focus
Is Bank of America (BAC) a Buy?
Futures Looking Strong, Bulls Eyeing Resistance
8:50am (EST) There was some buying yesterday after our 1pm update as the bulls battled back from early losses to make it a worthwhile day. There weren’t any major catalysts behind the advance but one report showed gas consumption is still on the rise which means consumers have worked in higher prices
Financials Show Strength, Can They be Trusted?
8:30am (EST) The bulls had a fine outing on Tuesday on the strength of lower oil prices and a rebound in the Financial stocks. Trading was flat for the first 30 minutes as the bears tried to push the market lower but with oil hovering below $105, the bulls saw an opening and made a
7 Come 11
9:00am (EST) Although it was a brief holiday, we managed to take a day or two off to check in on the Casino industry over the weekend. The playgrounds in AC were slow until New Year’s because of the snow but the craps tables were full over the weekend and let’s
Bulls Break Resistance, Rally Looking Good
1:20pm (EST) We told you this morning we could feel another breakthrough about to happen. There isn’t a lot happening in the market today as far as earnings or economic news but the bulls have managed to push through our intermediate targets for the major indexes which should clear the
Bulls Looking For Strong Finish
9:00am (EST) The bulls managed to hold the momentum on Monday despite a quarter-point interest rate hike out of China and the lack of volume on the major exchanges due to the snow storm that has battered the East Coast and New York. The China news was well planned as
Financials Provide Bulls More Ammo
9:10am (EST) The bulls got a little help yesterday after getting some worse-than-expected economic news as the Financial sector “bailed” them out on M&A news and an upgrade from Wall Street on several key players. Regional bank stocks moved higher after Hancock Holding (HBHC, $34.58, down $2.46) agreed to acquire
Jobless Claims Lift Futures
9:00am (EST) Although it’s not a done deal, the compromise backed by the President and Republican leaders on extending tax cuts led to choppy trading on Wednesday as bonds got crushed and the dollar gained strength. The bulls are arguing that a tax-relief package will stimulate economic growth in 2011 while the bears are