Art Cashin was on CNBC this morning, March 17, 2009 - and gave some comments about the stock market on St Patrick's Day 2009.
Art Cashin Comments -3/17/09
Is the stock market rally / bounce over?
The jury still out, yesterday the market go ahead of itself, hit some resistance around 7400, and then closed down. We would not like to have two down days in a row.....more down action could take us down to retest 720 on the S&P 500.
If this rally isn't the real deal we will fail badly, but from that will spring the real rally.
Whats next?
Watching for what comes out of TALF, if that doesn't work, the Fed might get aggressive and go in and buy toxic assets.
For all of Art's Comments, go here
For the latest updates on the stock market, visit, http://daytradingstockblog.blogspot.com/ or Subscribe for Free
Showing posts with label talf. Show all posts
Showing posts with label talf. Show all posts
Tuesday, March 17, 2009
Friday, March 13, 2009
Stock Market 3/14/09 Dow Jones Report
The Stock Market was up big this week with financials leading the charge. The Dow Jones, Nasdaq, and S&P 500 were up four straight days starting on Tuesday. Check out my technical analysis for Monday. As you can see, we are approaching major resistance areas near the 50 day moving average.
Stock Market Report - March 14, 2009
Next week will be an interesting week as we see if these recent stock market gains can hold. Sunday night Ben Bernanke will kick things off with an appearance on 60 minutes. He will follow things up with a Fed meeting on 3/17 & 3/18.
General Motors ( GM ) - So GM stock rallied big this week going from about $1.55 to $2.85, closing at $2.72. General Motors told the Government they will not need the 2 billion in March as their cost cutting measures working. However, they will still need to huge loan to get by and it could be as much as 14.6 billion.
GM, struggling to avoid bankruptcy amid a global sales slump, has been surviving on the federal loan it won in late December. The administration's auto task force faces a March 31 deadline to decide whether to give GM and Chrysler additional loans.
GM News afterhours 3/13/09 - GM stock down 12% tonight as they try to get Europe to bail them out. GM, which is on the verge of bankruptcy and bailed out by the U.S. government, is seeking for a 3.3-billion-euro bailout for Opel, GM Europe's major part, from European governments while looking for buyers. Also, GM Recalls 277,000 Vehicles For Gear Problem.
TALF - What is Talf? Next week, the deadline for the first wave a TALF will close. The Fed announced it was extending TALF by two business days. This announcement extends the deadline for recording TALF loans until the close of business on March 19. The settlement/disbursement date remains March 25 for this first wave of TALF lending. The TALF seems to be the lone Government program that might actually work!
Stock Watch 3/16/09 - These stocks were hot on Friday, keep them on your stock watchlists for Monday.
Today's Biggest Stock Market Gainers - Top 2009 Stock Gainers - Top 2009 Penny Stocks
For the latest updates on the stock market, visit, http://daytradingstockblog.blogspot.com/ or Subscribe for Free
Stock Market Report - March 14, 2009
Next week will be an interesting week as we see if these recent stock market gains can hold. Sunday night Ben Bernanke will kick things off with an appearance on 60 minutes. He will follow things up with a Fed meeting on 3/17 & 3/18.
General Motors ( GM ) - So GM stock rallied big this week going from about $1.55 to $2.85, closing at $2.72. General Motors told the Government they will not need the 2 billion in March as their cost cutting measures working. However, they will still need to huge loan to get by and it could be as much as 14.6 billion.
GM, struggling to avoid bankruptcy amid a global sales slump, has been surviving on the federal loan it won in late December. The administration's auto task force faces a March 31 deadline to decide whether to give GM and Chrysler additional loans.
GM News afterhours 3/13/09 - GM stock down 12% tonight as they try to get Europe to bail them out. GM, which is on the verge of bankruptcy and bailed out by the U.S. government, is seeking for a 3.3-billion-euro bailout for Opel, GM Europe's major part, from European governments while looking for buyers. Also, GM Recalls 277,000 Vehicles For Gear Problem.
TALF - What is Talf? Next week, the deadline for the first wave a TALF will close. The Fed announced it was extending TALF by two business days. This announcement extends the deadline for recording TALF loans until the close of business on March 19. The settlement/disbursement date remains March 25 for this first wave of TALF lending. The TALF seems to be the lone Government program that might actually work!
Stock Watch 3/16/09 - These stocks were hot on Friday, keep them on your stock watchlists for Monday.
Today's Biggest Stock Market Gainers - Top 2009 Stock Gainers - Top 2009 Penny Stocks
For the latest updates on the stock market, visit, http://daytradingstockblog.blogspot.com/ or Subscribe for Free
Tuesday, March 10, 2009
Meredith Whitney CNBC 3/10/09 March 10, 2009
Meredith Whitney was on cnbc this afternoon( March 10, 2009 ) and gave her comments on the current financial crisis.
- Credit Cards will be the next credit crunch
- At least 2 trillion of credit card lines to be cut by 2010
- Bank credit card portfolios will not be profitable in 2009, might even lose money
Would you be buying the bank stocks right now?
- Goldman Sachs ( GS ) in the $70's yes, $100's no
- There is a trade here, but a trade alone...I think you could probably make money getting long some of these stocks. We will have to see what they do as far a mark to market in April.
Citigroup ( C ) - they don't make money in any of their businesses - you see Citi up 28% today but its only $0.28 cents. I am skeptical of these relief rallies.
Citi will be forced to sell their crown jewels
Mark to Market accounting
The damage is already done....if the market comes back, they don't get the benefit to write their assets back up. Mark to market doesn't really matter right now.
TALF - Is TALF going to be enough? They are trying to entice the private sector to come back into the market, private capital has to have sweet terms to get back into the stock market.
With these bank stocks - you could see them go up on earnings in the first quarter because of a head fake on the mortgage moratorium.
View all of Meredith Whitney's comments right here.
For the latest updates on the stock market, visit, http://daytradingstockblog.blogspot.com/ or Subscribe for Free
- Credit Cards will be the next credit crunch
- At least 2 trillion of credit card lines to be cut by 2010
- Bank credit card portfolios will not be profitable in 2009, might even lose money
Would you be buying the bank stocks right now?
- Goldman Sachs ( GS ) in the $70's yes, $100's no
- There is a trade here, but a trade alone...I think you could probably make money getting long some of these stocks. We will have to see what they do as far a mark to market in April.
Citigroup ( C ) - they don't make money in any of their businesses - you see Citi up 28% today but its only $0.28 cents. I am skeptical of these relief rallies.
Citi will be forced to sell their crown jewels
Mark to Market accounting
The damage is already done....if the market comes back, they don't get the benefit to write their assets back up. Mark to market doesn't really matter right now.
TALF - Is TALF going to be enough? They are trying to entice the private sector to come back into the market, private capital has to have sweet terms to get back into the stock market.
With these bank stocks - you could see them go up on earnings in the first quarter because of a head fake on the mortgage moratorium.
View all of Meredith Whitney's comments right here.
For the latest updates on the stock market, visit, http://daytradingstockblog.blogspot.com/ or Subscribe for Free
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