From the monthly archives:
With August almost in the books I believe it is worthwhile to look at some specific sectors and stocks relative to the major market averages.
For a reference point the SPX index started the year at a level of 903.25. So with today’s close at 1028.93 the overall market is up almost 14%. It is more [...]
{ 1 comment }
The top three headlines in the Money and Investing section of the WSJ today are:
Regulators Examine Goldman’s Trade Tips
BofA Denies Misleading Its Investors on Bonuses
Charles Schwab takes on Cuomo
When markets drop as they did in 2008 the public wants villains and the media seems to have an endless supply. Today’s serving of news is a course [...]
{ 0 comments }
AIG American International Group is already up 26% with the news that the company expects to repay money issued during the recent government bailout. This news seems to be generating a positive impact on the market as a whole as well with a spike in overall activity. AIG CEO Robert Benmosche was quoted earlier today [...]
{ 2 comments }
My source in the S&P 500 Index (SPX) trading pit has shown me a big buyer of the December 1,000-strike puts early in the session, which set a new tone that traders were coming in on the buy side of put trading. The recent trading pattern during the summer rally has been a [...]
{ 0 comments }
The most interesting part of Alan Abelson’s column in Barron’s this week (subscription required for full article) came at the end. He talked with an economist from the American Enterprise Institute, John Makin, who threw a lot of cold water on the idea that China’s growth is sustainable, and even real. He claims [...]
{ 0 comments }
The market in the E-mini S&P futures greeted traders this morning with a 2.25% decline, signaling trouble for the U.S. equity markets on the open today. The catalyst many analysts are pointing to is the consumer numbers from Friday but this is a delayed reaction for those in the U.S. market.
I think this underscores [...]
{ 0 comments }
Here’s what is going on in mid-morning activity this Friday…
China Shanghai Index down 3% … this hurts the commodity bid and throws a wrench in the global recovery theory.
Commodities are in free fall, sending the materials sector is down more than 3%. The dollar index is higher and other fly-to-safety instruments are bid.
University of Michigan [...]
{ 0 comments }
Amgen received unanimous FDA approval for Dmab. This means their drug PROLIA may be commercially available for the treatment of osteoporosis. The stock is actually lower in very negative tape this morning, and the at-the-money August straddle is much lower with the result now known.
The August 60 calls are down by 37 [...]
{ 0 comments }
