dun u jus luv opex day or the few days movement b4 it
dunno izit a shakeout? but exited swing trade vwdry (b:19.35 s:21.04) & rgr (b:10.18 s:11.04)
did not add any new position & jus riding my current holdings + waiting exit signs
though some of them seems to be in gostan mode
especially hitk & vnr... bracing for impact on 50ma or hav to cut loss
funi comments from another forum
“The banks are not hoarding cash they are loaning it all to government. Buying bonds. Then borrowing more from the federal reserve at .25% and buying bonds at 3%. There is a wild man in charge and this is the safest bet they could find."
The banks know they will be punished further if they don’t cought it up and buy more bonds. They know this government will do what it can to put them “fat cat bankers” out of business, they minimize risk, in their view, by buying government debt.
The government knows that they need to sell more bonds in order to spend more debt. The fed loans it to the banks at .25% and they buy bonds at 3%, giving the government mo’ money. Government is wasting it and stealing it.
The result is the same, of course. No loans.
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Stocks Cap Week With Losses
Posted 01/15/2010 05:02 PM ET
5:15 p.m. Update: JPMorgan Chase's (JPM) rising loan losses and an unexpected drop in consumer sentiment hurt stocks Friday. But a late-session rally eased some of the pain.
The Nasdaq dropped 1.2%, dragged lower by chip stocks. The Philadelphia semiconductor index lost 3.4%. Chip giant Intel (INTC) fell 3% on more than triple its average trade. The stock suffered its biggest hit in two months, despite reporting upbeat earnings and sales late Thursday.
The NYSE composite also lost 1.2%. Financials were a big drag. Bank of America (BAC), Morgan Stanley (MS) and Wells Fargo (WFC) gave up 3% each. JPMorgan fell 2%.
Meanwhile, the S&P 500 and Dow fell 1.1% and 0.9%, respectively.
Options expiration boosted volume on both exchanges.
For the week, the Nasdaq dropped 1.3%, NYSE composite 0.9%, S&P 500 0.8% and Dow 0.1%.
China Automotive Systems (CAAS) gapped down and slumped 9% on nearly twice its average trade. Citing valuation, Merriman Curhan Ford cut the stock to neutral from buy. Merriman also lowered the power-steering gear maker's 2010 earnings and sales estimates.
Cree (CREE) dropped 7% on more than three times average trade The LED products maker reports Q4 results Tuesday. Analysts see earnings rising 45% to 29 cents a share on sales of $186.8 million. Despite Friday's hit, the stock remains 38% past a 39.07 buy point from a flat base.
Lululemon Athletica (LULU) erased morning gains and slipped 2% in heavy trade. But the stock is still 8% past a 28.81 buy point from a flat base.
Earnings Tuesday: Citigroup ©, Cree (CREE), CSX (CSX), IBM (IBM), New Oriental Education & Technology Group (EDU), and Wipro (WIT).
Stocks Stumble, But Finish Off Lows
Stocks took a beating Friday, but a late-day comeback shaved some losses.
The Nasdaq and NYSE composite lost 1.2% each. They were both down 1.6% at session lows. The S&P 500 fell 1.1% and the Dow 0.9%. Volume climbed sharply amid options expirations.
Chipmakers, hard drive makers and hospital operators were among Friday's worst sectors. Some retail groups bucked the sell-off.
Indexes On Pace For Weekly Losses
3:15 p.m. Update: Stocks hovered near session lows and were on track to cap the week with losses.
The NYSE composite shed 1.5%, Nasdaq 1.4%, S&P 500 1.3% and Dow 1.2%.
Volume was still tracking higher on both exchanges due to options expiration
This post has been edited by sulifeisgreat: Jan 18 2010, 10:43 PM
Jan 16 2010, 01:40 AM
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