The stock markets are bouncing off their lows this afternoon due to comments coming from a top person at Blackrock. This certain individual is saying that the Bear Sterns 30 billion mortgage backed securities portfolio that was taken over is actually worth more now then when it was taken over. It is also yielding some decent cash flow.
James Lockhart is now speaking about a program designed to get home owners affordable monthly payments for their houses.
The Dow was down 265, now only down 160.
http://daytradingstockblog.blogspot.com/
Showing posts with label stock market reversal. Show all posts
Showing posts with label stock market reversal. Show all posts
Tuesday, November 11, 2008
Friday, November 7, 2008
Art Cashin CNBC 11/07/08 - Retest Lows - Jobs Number
Art Cashin was on CNBC today, 11/07/08, here are Art Cashin's comments on the stock market.
I'm a little surprised, I thought we'd be weak this morning because of the revision, and its equal to this jobs number being over 300,000 lost. Barack Obama is going to speak this afternoon at 2pm, I wish he would have waited until after the close today but we'll be watching.
Art, what is the likely hood we retest the lows?
I think there is a 50% chance we go down and retest the lows in some fashion, watch the S&P 500, if we break through 900 and 880 the percentage goes up.
If we test and fail to hold the lows we will have a very short, very sharp plunge and then build a monster reversal rally that will last. You can commit some funds on the way down to prepare for a reversal that will follow.
For more updates on the stock market, visit, http://daytradingstockblog.blogspot.com/
I'm a little surprised, I thought we'd be weak this morning because of the revision, and its equal to this jobs number being over 300,000 lost. Barack Obama is going to speak this afternoon at 2pm, I wish he would have waited until after the close today but we'll be watching.
Art, what is the likely hood we retest the lows?
I think there is a 50% chance we go down and retest the lows in some fashion, watch the S&P 500, if we break through 900 and 880 the percentage goes up.
If we test and fail to hold the lows we will have a very short, very sharp plunge and then build a monster reversal rally that will last. You can commit some funds on the way down to prepare for a reversal that will follow.
For more updates on the stock market, visit, http://daytradingstockblog.blogspot.com/
Friday, October 10, 2008
Morgan Stanley ( MS ) ( GS ) Goldman Sachs 10/10/08
Morgan Stanley ( MS ) and Goldman Sachs ( GS ) are tanking this morning causing stocks to fall even further.
Dow Jones futures are at 8350 ....down another 250ish points so far this morning.
All eyes will be on trading today....If we tank and close positive...a strong case for the bottom will be made. Also, something could come out of the g-7 meeting this weekend.
Dow Jones futures are at 8350 ....down another 250ish points so far this morning.
All eyes will be on trading today....If we tank and close positive...a strong case for the bottom will be made. Also, something could come out of the g-7 meeting this weekend.
Wednesday, October 8, 2008
Capitulation 10/8/08 ? Stocks Set to Rebound?
The Stock Market has shook off a global rate cut today so far.....Dow Jones was up over 250 points in pre market but has since gone down 400 points off the highs.
Look for a major washout early followed by a rally going into the end of the day.....if we can tank and then end positive today...that could be the capitulation bottom everyone is loking for.
You need to see everyone selling everything...and then a strong rally with HEAVY volume....no major pullbacks on the way up....just a surge in buying.
Lets see if it happens today!
Look for a major washout early followed by a rally going into the end of the day.....if we can tank and then end positive today...that could be the capitulation bottom everyone is loking for.
You need to see everyone selling everything...and then a strong rally with HEAVY volume....no major pullbacks on the way up....just a surge in buying.
Lets see if it happens today!
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