Market Comments for April 17, 20081) There was a major sell off in the bond market today. Since Monday the 30 Treasury futures have fallen from 120 to 116. This is a huge move. A normal leverage ratio for this trade is 5:1, so a short on Monday would have yielded a 20% return. As
Market Comments for April 16, 20081) All of the economic news was bad today, but all people wanted to hear about was the upbeat guidance from Intel, and they took the Dow up 256 points. ??Intel is predicting gross margins this year of 53%, great if they can do it. Almost 80% of their earnings
Market Comments for April 16, 20081) All of the economic news was bad today, but all people wanted to hear about was the upbeat guidance from Intel, and they took the Dow up 256 points. ??Intel is predicting gross margins this year of 53%, great if they can do it. Almost 80% of their earnings
Market Comments for April 15, 20081) Crude hit an all time high today of $114 on the back of a storm which closed oil export ports in Mexico, a report of falling oil production in Russia and an exploding oil pipeline in Nigeria. There was big buying today of the August $140 calls!2) March PPI
Market Comments for April 15, 20081) Crude hit an all time high today of $114 on the back of a storm which closed oil export ports in Mexico, a report of falling oil production in Russia and an exploding oil pipeline in Nigeria. There was big buying today of the August $140 calls!2) March PPI
Market Comments for April 14, 20081) Retail sales were up 0.2% in March, better than expected. Don't pop the champagne corks yet. Most of the increase was due to higher fuel sales due to higher prices. The market was on hold today due to the imminent release this week of earnings by Intel, IBM, Ebay,
Market Comments for April 14, 20081) Retail sales were up 0.2% in March, better than expected. Don't pop the champagne corks yet. Most of the increase was due to higher fuel sales due to higher prices. The market was on hold today due to the imminent release this week of earnings by Intel, IBM, Ebay,
Market Comments for April 11, 20081) GE was the bad boy today, announcing earnings 10% less than expected, totally blindsiding the street, which had been expecting a gain of 10%. Outraged analysts were screaming for Jeff Immelt's head on a platter, claiming he mislead them only a month ago. Most of the shortfall was on
Market Comments for April 11, 20081) GE was the bad boy today, announcing earnings 10% less than expected, totally blindsiding the street, which had been expecting a gain of 10%. Outraged analysts were screaming for Jeff Immelt's head on a platter, claiming he mislead them only a month ago. Most of the shortfall was on
Market Comments for April 10, 20081) Walmart (WMT) and Dupont (DD) announced better than expected earnings today, prompting a mini short covering rally. The Dow was up 55 points.2) Huge buyers have emerged in the Crude August $120 calls. Watch out above!3) As I expected, the Bank of England cut interest rates by 25 bp.