“Merrill has been making the rounds asking hedge funds to engage in one year off balance sheet credit facilities. One fund claimed that Merrill was offering a floor return (set buy back price).” – Janet Tavakoli (subscription required), Derivatives Consultant,…
A really bad day turned into a terrible day in the last hour (Intraday Chart). The reason, I think, is people wanting to get out of stocks ahead of tomorrows October Jobs Report which will be released before the open…
Financials are leading markets down today (XLF: -3.47%) on a downgrade of Citigroup (C: -6.43%) and a consideration that the Fed might really mean what it says and not cut rates again on Dec. 11. The Fed talked a tough…
The market’s first move in response to the Fed Decision was down, but it’s second move was up – big (Intraday Chart).
I think this was a little more hawkish than the market was expecting. Bernanke and Co. did cut rates 25 basis points but they said that inflation risks had increased and that “upside risks to inflation roughly balance the downside…
Just 17 trading days after closing above $600 for the first time Google is threatening to close above $700 for the first time. A Wall Street Journal article (subscription required) that Google is in “advanced” talks with Verizon Wireless and…
“Traders are just focusing on the Fed.” – Michael Metz (subscription required), Chief Investment Strategist, Oppenheimer It’s Fed Day today which means Double B, Ben Bernanke, is in da house baby. Analysts everywhere are trying to get into his head because his…
“Stocks are directionless ahead of a blockbuster day tomorrow. Other markets are about the same – bonds, currencies. [Stocks] won’t do a lot before we get a read on the Fed….” – James Paulsen (subscription required), Chief Investment Strategist, Wells…
I like days like today when it’s real simple: (Microsoft = Good + Countrywide = Good) = (Market = Good) (The Wall Street Journal’s market column is titled “Countrywide, Microsoft Fuel Rally” (subscription required)). It speaks to the desire for simplicity and…
Microsoft (MSFT) is having its biggest day in a long, long, long time – up $3.04, 9.50%, to $35.03 currently. It is the most actively traded stock on either the New York or Nasdaq Stock Exchanges by far with more…