Archive for February 2009

California To Cut 20,000 State Jobs, Trump Entertainment Files For Bankruptcy

February 17, 2009  ·  Category: Market Commentary
California to cut 20,000 state jobs Trump Entertainment files for bankruptcy
Posted by Greg Feirman  ·  No Comments »

Stanford Financial Charged With Massive Fraud

February 17, 2009  ·  Category: Market Commentary, The Investment Advice Business
As we allege in our complaint, Stanford and the close circle of family and friends with whom he runs his businesses perpetrated a massive fraud based on false promises and fabricated historical return data to ...
Posted by Greg Feirman  ·  No Comments »

Gold Breaks Out To 7 Month High

February 11, 2009  ·  Category: Gold
Gold powered through $940 today - its highest levels since July '08.  I also noticed that the Gold ETF (GLD) has traded more than 50 million shares today - it's biggest volume day since Sept 17 ...
Posted by Greg Feirman  ·  No Comments »

NYSE Short Interest Down 28% From Peak In July ’08

February 11, 2009  ·  Category: Sentiment Analysis
Being short right now just feels like the wrong strategy. - Bill Fleckenstein, who shut his short only hedge fund in December I would be very cautious about being short this market right now. - Dan Veru, Chief ...
Posted by Greg Feirman  ·  No Comments »

Geithner’s Big Announcement: Still Working On It Guys!

February 10, 2009  ·  Category: Market Commentary
Well that was a dud! For a couple weeks now everybody has been looking forward with great anticipation to the Obama Team's plan for dealing with the banks.  It was going to come last week.  Then ...
Posted by Greg Feirman  ·  No Comments »

Get Ready For A Binary Move In The Financials

February 5, 2009  ·  Category: Market Commentary
The trick to this trade - and by trick, I mean risk rather than edge - is the binary nature of the announcement.  In other words, we'll walk in one day next week and ...
Posted by Greg Feirman  ·  No Comments »

Tremendous Value In Cisco

February 5, 2009  ·  Category: Fundamental Analysis, Market Commentary, Stocks
If you'd told me in 2000 that one day we'd own Cisco, I'd have said you were crazy. - Russell Croft , Co-Manager, Croft Value Fund, quoted in "Value Funds Awash In Deluge of Choices: Market Rout ...
Posted by Greg Feirman  ·  No Comments »

Tough Quarter At Disney

February 4, 2009  ·  Category: Macro Economics, Stocks
It's a really disappointing quarter.  The surprise is that the bigger disappointment came on the media networks side instead of the theme parks.  They took a real hit at ESPN and in the broadcast business, ...
Posted by Greg Feirman  ·  No Comments »

I Like Costco Here

February 4, 2009  ·  Category: Stocks
Costco (COST) this morning announced -2% same store sales growth for January and that 2Q earnings for the period ending February 15, 2009 are expected to be "substantially below" consensus estimates of 70 cents a ...
Posted by Greg Feirman  ·  No Comments »

Obama To Cap Executive Compensation At Firms Receiving Help at $500,000

February 4, 2009  ·  Category: Market Commentary, Obama, Politics
We're going to be demanding some restraint in exchange for federal aid. - President Obama on Wednesday If you have someone who was making well over $1 million, and now they are capped at $500,000, it is ...
Posted by Greg Feirman  ·  No Comments »