DOW futures down almost 200 points, S&P down about 20 with GE about to report earnings... Rumors that Wyeth is a takeover target of Pfizer. That'd be a monster merger and would finally mean Pfizer is looking to put the mountain of cash they're sitting on to use.
GE couldn't deliver a KO...do we rally a bit from here? Started playing with JASO again...up 15% on my position from yesterday...was thinking about buying some more this morning on the gap but hesitated
yeah I hesitated also everywhere.. ended up buying into diff places after a lot of the gains had already been made, but I'm just hoping there's a longer rally from here. At least back to 8300 or so..
Those of you who bought some of the banks before the plunge a few days ago should probably notice the run-up in C, BAC, JPM, etc. after-hours. Here's the story of the "bad bank" news that's causing the run-up : http://www.cnbc.com/id/28879872 I just caught about $0.25-$0.30 of the run-up in C after-hours and contemplating selling at least half the position.
man i was going to short USO last friday at 32.80, but it wouldn't let me short the shares and i realized too late, since it was about 2:55 when i started thinking about this, that i should've just bought some puts. fast forward to this week and i don't take advantage of it hitting 34 and now here we are at 29.50. even from 32.80 i would've made something like 50% on the $35 puts. dammit. and maybe i'm crazy, but i just bought some SKF in after hours. not much so that if financials keep rallying i'll buy some more (maybe even get crazy and go to FAZ) but it seems hard to believe that just making a bad bank is solving all of the financials' problems.
I was gonna grab SCO at 27 yesterday but didn't pull the trigger. Hit 35's today A bad bank doesn't fix things but it does take some of the nationalization fears out of the equation, which has been a big drag lately. I'm gonna wait on shorting financials until we've seen a decent squeeze.
Sold FAS at 11.4. Watching my 2x gold shorts is just plain boring in comparison to those 3x roller coasters!
There are some bank stocks that are looking tempting. Am I stupid for considering @ a low price? Anyone have anyone recommendations on bank stock if I decide to jump in?
Well that was fun. Out of banks and shorts - my next trade will be pharma/medical stocks. My read says money flow suggests short term bounce.
Stocks stumble as investors fear worsening economy Stocks finish lower as investors fear worsening economy, worry 'bad bank' idea has hit snag Sara Lepro, AP Business Writer Friday January 30, 2009, 6:41 pm EST The major indexes all fell sharply for the second straight day, leaving the Dow Jones industrial average and Standard & Poor's 500 index with record percentage drops for January -- 8.84 percent and 8.57 percent, respectively. Some market watchers believe that's a bad omen for the rest of the year, as the market usually ends a year down after having fallen in January.
No kidding. I saw BAC trading at $3.80 or something this morning and the next thing I know it's a $4+ stock - I had to make sure I had been looking at the same stock. wth? I was watching the DOW on CNBC and within minutes it went from being down 100+ to being up 20.
