Kraft just started trading as a stock separate from Altria in the past year or so- so this is not saying much.
With the government becoming involved with the Auto companies, there could be some anti trust issues raised if Toyota wanted to shutdown GM and thus reduce competition. The UAW can't be very happy with having to make concessions and to have Toyota <i>buyin</i> with intentions of shutting GM, things could get somewhat <i>unpleasant</i>. Major already touched on the liability issues hanging over GM.
I still am invested a bit in my IRA's, but this "correction" forced me to sell off and go into cash in most of my IRA which is something I thought I'd never do. I still own most of the same stocks I've always owned in it, but a lot less of them. I've been mostly cash in my trading account for a while and will remain so for a bit. I do own a lot of GLD and TIP and some JNJ, BMY, KFT.
Alcoa consistently disappoints come earnings time, but who knows. They've been in buyout rumors for the past several months. They may come back when China starts rolling (if that happens), but they're going to tank with the rest of metals/commodities. Banks are nothing more than Russian roulette. I thought GE was a steal between $11-$12. I thought I'd never sell that stock, but I did. I can't see it coming back until we start recovery from this financial mess. They're in all kinds of things, but ultimately are considered a financial company. Their alternative energy play also took a hit when oil tanked. I own KFT. It's got a decent dividend, but you'd think it'd be doing better than it has in times like these. I'm still holding onto this for a while. I may add to my position.
Haha! I was at lunch so I had no idea other than checking the quote on my cell around 2.90. By the time I got back to the office it had peaked around 3.60 and was steady between 3.40 and 3.50. I'm really not sure what my sell point is yet. The White House backing of private banking was nice, but still, just as meaningless as the talk of nationalization. What matters to me is that BoA is making their payments and their insiders have bought recently.
Obama needs to come out and send a much clearer message than what Gates said about their stance on nationalization. Where the hell is Geithner?
Rumor is that Geithner should come out with more details by next week. The banks already reacted to this. BAC is over $4 right now in afterhours trading.
I bought skf at 130 a couple of weeks ago. Unfortunately, I forgot it was Presidents Day Monday and set it to sell when it reaches 157. I could have made a killing of that one
i hate you. i really wanted to get in at 1.78, but didn't have funds available at the time. I'm still holding some at 2.49 though..
This is going to sound very noob but if you had 7K to invest right now where would you put it? 7k that can be spent on any (legal) investment vehicles... Risk is not a factor.
Last week, I said Dow 6500.. its around the corner. I loaded up on PRU puts today. 15 febs. maybe see single digits soon.
