(I apologize this is going out now rather than an hour ago...my Microsoft Word went haywire for G-d knows what reason) The best performing sector in the S&P 500 in the last week has been the banking sector. How good has it been? The performance of the banking stocks was the best over a five day stretch in recorded history. Like ever. Of all-time. This ends today of course, but that is not the point...what did the overall stock market do in the last few days? Well, it confounded most people (including myself) who thought the market would rally once the financials showed any stabilization. Well, what happened? Simple. Other sectors got absolutely crushed for reasons that actually could have been foreseen had one done a lot of homework. For instance, the healthcare and biotech sectors have gotten rocked in recent days amid worries that the government will be impeding upon the profitability of healthcare companies to operate profitably. Another example is the student loan sector; the once great Sallie Mae (SLM) is in danger of no longer being a viable entity. For day traders, it creates all sorts of turmoil- yet, amid the chaos comes opportunity. If Capital One (COF) is in the middle of a range, maybe Humana (HUM) is on a low. If IBM (IBM is at the top of a range after pre-annnouncing to the upside, maybe one should focus on that tech stock rather than a Chevron (CVX) in the middle of a range. More than ever, know your sectors, understand your politics, and trade with joy yet caution as the last few days have been very whippy. Markets in Asia were mixed with Europe down 2% or so across the board. The main impetus here this morning is C. If the market shakes off the weakness in the first half hour, look for a very very very strong rally...however, should the market fail to bounce whatsoever on what is expected news this morning, this afternoon will likely be very choppy and generally weaker. Reiterating- Please understand that if the ideas do not get to the hoped for set-ups cited below, more often than not, one should not blindly trade the symbol next to said idea. If the whole story is not there - If something is good, assume either a short thru unchanged or an A-B-A2 based on direction of the market unless specifiedIf something is bad, assume either a buy thru unchanged or an A-B-A2 (preferably to the downside in a downside market and the upside in an upside market) based on direction of the market unless specified- Good- The following stocks have good news and/or a strong technical pattern DELL- beat for quarter on earnings SBAC- good earnings UHS- good earnings BCSI- good earnings SNDA- decent earnings INT- great earnings PBT- on âMad Moneyâ last night WG- reversed its downtrend and closed near high HBI- closed near a high Bad-The following stocks have bad news and/or a weak technical pattern C- TRADE OF THE YEAR: The Fed is going to partially nationalize this thing. If the stock trades higher in the pre-openâ¦particularly BEFORE 8AM ET, SHORT THRU UNCH. Watch all other banks as well. NNI, SLM- among main student loan lenders demolished yesterday amidst worries that their business will be annexed by the Feds TEG- closed near a low after posting bad earnings CDI- closed near a low CVH, HS, HNT, AMGN, HUM, WCG- all closed near lows among other healthcare entities amid worries about the governmentâs plans SWN- poor earnings CVA- poor earnings DECK- terrible earnings KSS- bad earnings GPS- bad earnings CTV- poor earnings ADSK- bad earnings OVTI- abominable earnings SNTA- discontinued its phase III trial of its lead drug SOMX- discontinued a trial of its lead drug as well ERES_ bad earnings RWT- bad earnings HK- announced 22 million share offering CELG- closed near a low WMGI- closed at a new trend low CBST- closed near a low LNCR- closed near a low FCFS- breaking down anew; closed near a low AMED- closed near a low AMAG- huge percentage loss and closed near a low of day ETN- closed near a low CNW- closed near a low MD- huge percentage loss; closed near low MIC- in danger of going bankrupt; closed near low LVS_ mentioned negative on "Mad Money" last night Earnings: FRI FEB 27 BEFORE AMAG AYR BX CCC CPN CSE DRH ENDP FRO IPG JRCC MGLN MIR PGR RSG SNDA TTI WCRX WR WTR Good luck today. Erik R. Kolodny
REALLY?? haha.. proof plz?? Do you even know anything about computer??? haha btw.. i'm from Canada. and that dude over there is from Smithtown, NY.
I have absolutely zero incentive to increase traffic here. As I keep saying, a friend of mine told me to post here because he thought I may be of help. That is all. Furthermore, if I wanted people to put "me too" messages on this thread, don't you think it's more than a little obvious to have a new user post much less put my real name here rather than the aliases most people (including yourself) use? In any case, I wish you (and anyone reading this) luck with this very difficult market and a very good weekend. All the best, Erik
Your posts are far better than the chit-chat threads started by noobs every now and then and flooding this section. Keep up.