Wang’s Happy Trading

Financials Falter While Commodities Attempt To Bounce: SPX, Nasdaq, GS, BAC, WM, WB, AAPL, LDK, STP, SPWR, CSIQ

The overall market was weak today, pressured by the financials once again. This morning, JPM disclosed widening losses in it mortgage portfolio. Both GS and BAC were down more than 6% WB tumbled 12.14% while WM dropped 9.28%. Gold fell under $810/ounce today, but, bounced back to about $815. The mining stocks closed mostly in the green. Agriculture sector also went higher.

The techs held on well. AAPL added +1.83%. The solar stocks made solid gains as LDK reported good earnings yesterday. LDK closed up +17.24%. STP added +4.41% and SPWR gained +2.76%. CSIQ, which will report tomorrow morning, jumped +14.91% ahead of its earnings.

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This entry was written by HappyTrading and posted on August 12, 2008 at 5:15 pm and filed under GS, Nasdaq, AAPL, SPX, LDK, SPWR, STP, CSIQ, WM, BAC, WB. Bookmark the permalink. Follow any comments here with the RSS feed for this post. Post a comment or leave a trackback: Trackback URL.