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Get Ready For A Binary Move In The Financials
Reading Time: 2 minutesThe 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 the sector, as a whole, and…
Federal Express Reports 4th Straight Quarter Of Declining US Revenue
Reading Time: 4 minutesA lot of important earnings news affecting the market today: Oracle (ORCL), Nike (NKE), Bear Stearns (BSC), Federal Express (FDX) and Winnebago (WGO). ***** Everybody pretty much knew Bear was going to report an ugly quarter and they in fact…
WSJ: Central Banks Intervene To Prop Up Dollar
Reading Time: 1 minuteFascinating front page article in today’s Wall Street Journal on central banks around the world intervening to try and prop up the dollar and prevent their currencies from appreciating so much against it: “World Tries To Buck Up Dollar”, The…
The Stock Market As Information Processor; News and Events Moving The Market This Week
Reading Time: 4 minutesThe stock market is the most amazing thing. Everyday and throughout the course of a trading day new information comes out and you can see, immediately, the market processing that information via changes in securities prices. A company reports earnings…
Citi Sells Stake To Abu Dhabi
Reading Time: 2 minutesCitigroup (C) just announced that they are selling a $7.5 billion stake to the sovereign wealth fund of Abu Dhabi, one of the United Arab Emirates. The stake is in the form of equity units which are “mandatorily convertible” into…
Looking Under The Hood Of The AIG Bailout
Reading Time: 7 minutesYesterday, amidst massive political and public opinion pressure, AIG revealed the counterparties they had paid out money to since receiving bailout money from the US government (AIG Press Release). The payouts are as follows: $22.4 billion for collateral postings under…