The Fed slashed the interest rate by another 3/4 point! The market was already up in the morning on better-than-expected earnings from GS and LEH. After the Fed’s rate cut announcement, the market pole-vaulted to its biggest one-day gain since 2002 (even though, just yesterday, the market was still hanging up-side-down)!
Many of our […]
Submitted By OptionDragon
Journey - Don’t Stop Believing
From briefing.com
LEH reports Q1 EPS 81c vs. consensus of 72c-Bloomberg
Reports Q1 revenue $3.5B vs. consensus of $3.35B.
LEH gapping up.
Refiners got downgrades today. WNR downgraded to Underperform from Market Perform@BMOC.
HOC downgraded to Market Perform from Outperform@BMOC.
FTO downgraded to Market Perform from Outperform@BMOC.
TSO downgraded to Market Perform from Outperform@BMOC
VLO […]
The market was very volatile today. It opened lower but started to recover immediately. It then dropped again in late morning and went below the opening low. But, after lunch, it started to come back up.
The Dow ended up +21.16 points; SPX was down 11.54 points; and Nasdaq fell 35.48 points.
Here’s how […]
Submitted By Optiondragon
AC/DC - Thunder Struck
From briefing.com
UBS downgrades brokers and fiduciaries to Neutral: cuts Bank of New York (NYSE: BK), Lehman (NYSE: LEH), Goldman Sachs (NYSE: GS), InVesco (NYSE: IVZ), State Street (NYSE: STT).
Wynn Resorts (NASDAQ: WYNN) raised to Outperform at Bear Stearns.
According to Reuters, the Fed is opening up its own balance sheet […]
With big news (BSC/JPM and Fed’s discount rate cut) on a Sunday before the options expiration week, the market is bound to be very volatile on Monday. Fed’s immediate discount rate cut is, no doubt, an attempt to buffer the effect of the JPM $2/share bailout of BSC! Nikkei (Japan) is down […]
Last weekend, I said,
“The market is testing its January low, which for the new week, could be very interesting. The market has now fallen more than 15% from last year’s October high; Nasdaq has done worse, dropping more than 20%! If the Jan. lows do not hold, SPX’s next support is between 1225-1250; for Nasdaq, […]
Fed just announced an immediate quarter-point cut on the discount rate. More on this later…
HappyTrading! ™
Wow!! JPM just announced a deal to buy BSC for $2/share!! This values BSC at only $236 million!! More on this later!!
HappyTrading! ™
Submitted By OptionDragon
Bob Marley- Stir It Up
From briefing.com
Boeing (NYSE: BA) raised to Overweight at Morgan Stanley.
Salesforce.com (NYSE: CRM) Started At Buy at Broadpoint.
Southern Copper (NYSE: PCU) started as Underweight at JP Morgan, target $91@JPMS
Reuters writes that Yahoo! (YHOO) and Microsoft (MSFT) have begin informal discussion about the buy-out.
Reuters reports that JP Morgan […]
I have been talking about gold A LOT lately. Yesterday, I mentioned that GLD and SLV are rising again and we may see $1000 gold. And, here it is! Gold reached $1001/50/ounce today, but, closed under $1000. It does seem that gold is going higher, though.
The market was weak at the […]
![[Most Recent Charts from www.kitco.com]](http://www.kitconet.com/charts/metals/gold/t24_au_en_usoz_6.gif)
![[Most Recent Charts from www.kitco.com]](http://www.kitconet.com/charts/metals/silver/t24_ag_en_usoz_6.gif)
