Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Buying into a reverse split with news could be a plan
EMKR
Looks like EMKR already has reversed, matt.
Got in NRGN yesterday, WANG--waited for a pullback and got a bigger one that I thought would happen
Sweet NRGN action today. I got in finally yesterday
NRGN with a chart
Two pieces of good news--revenues and contract news--and CYBL goes over .02 quickly. JMO--but CYBL is priced as if there is a 99% chance that they go BK.
FRPT
EMKR on watch, matt
EGTK
TELK on watch
Obama's incentives for solar energy announced today has helped a few of the solar plays. ESLR and ESRG are two that I am in--because they are the cheapes. LOL
ESRG
ESLR
cdnkid? Do you know of any other cheapies?
Keep the faith. Hot hand tomorrow, SB
LOL--look at this chart. UTRM
Bounce play? Will watch anyways
UTRM --possible bouncer
CTT chart
Thanks, doo.
I totally agree--the time decay in FAZ and FAS is a major factor--hence, daytrading makes more sense.
A double top is where a stock rises to a certain level, falls back and looks like it will go through that previous high.
Rosenberg Says U.S. Stock Market May Test March 9 Low (Update2)
By Eric Martin and Erik Schatzker
May 21 (Bloomberg) -- The Standard & Poor’s 500 Index may fall beneath the 12-year low reached on March 9 because consumer spending hasn’t recovered from the longest recession since the 1930s, economist David Rosenberg said.
“We have to get confirmation the March lows are going to hold,” Rosenberg, the chief economist and strategist at Gluskin Sheff & Associates Inc. in Toronto, said in an interview with Bloomberg Television. “The conventional view was the November lows were going to hold. As we found out in the opening weeks of March, no, those lows didn’t hold.”
Rosenberg said he will “keep an open mind as to whether the lows from March will hold or not as we go into the second half of this year. I’m not sure where the buying power is going to come from.” Rosenberg is the former chief North American economist at Merrill Lynch & Co., the brokerage bought by Bank of America Corp. in January. He left the firm this month.
The S&P 500 rallied as much as 24 percent from an 11-year low of 752.44 on Nov. 20 to Jan. 6 on speculation the economy will recover amid government efforts to rescue banks and automakers. The measure erased those gains and fell another 10 percent to a 12-year low of 676.53 on March 9 as losses at lenders mounted and unemployment continued to rise.
‘Gargantuan Short Covering Rally’
Rosenberg said the nine-week gain that began March 10, the steepest over similar spans since the 1930s, was a “gargantuan short-covering rally.” A so-called short covering rally happens when investors who have borrowed shares, hoping to buy them back at lower prices and profit from their decline, are forced to purchase the shares to close their bearish bets.
Rosenberg said he doesn’t expect the economy to recover in the second half.
“I’m seeing no revival of consumer spending in the second quarter,” Rosenberg said.
Retail sales in the U.S. unexpectedly dropped in April for a second month, indicating that rising unemployment is prompting consumers to conserve cash. The 0.4 percent decrease followed a revised 1.3 percent drop in March that was larger than previously estimated.
The benchmark index for U.S. stocks plunged as much as 57 percent from an October 2007 record as writedowns and credit losses stemming from the collapse of the subprime mortgage market climbed to $1.47 trillion. The measure rallied 34 percent from March 9 through yesterday as the largest banks said they were profitable, the government pledged $12.8 trillion to drag the economy out of recession and policy makers around the world cut interest rates to near zero.
APDN chart going to break a Double TOP
APDN chart
FAZ chart
ATSG finally popped off the bottom. Watching AXTG for a similar move. OCNF still going.
AXTG
OCNF
U.S. Banking Crisis May Last Until 2013: S&P
Filed at 5:31 p.m. ET
Skip to next paragraph
NEW YORK (Reuters) - A day after saying big U.S. banks probably needed to raise only one-fourth the capital demanded by the government, Standard & Poor's said the nation's banking crisis has "merely entered a new phase" and might not end before 2013.
The credit rating agency said the industry is being propped up by hundreds of billions of dollars of government support, especially for lenders considered too important to the financial system to fail.
While efforts to spur lending, take bad assets off banks' balance sheets, and restart the market for packaging and selling securities may help the sector, S&P said banks will have a tough time surviving absent a bigger capital cushion than regulators require.
"There's nothing to say that this banking crisis can't go on for another three or four years," S&P Managing Director Tanya Azarchs said.
S&P did not immediately return a request for comment.
On Tuesday, S&P said major U.S. banks need to raise about $18 billion of capital to protect themselves from the economic downturn, though this amount could grow if conditions worsen.
The amount is well below the $74.6 billion that the government last week ordered 10 of the largest U.S. banks, led by Bank of America Corp <BAC.N> and Wells Fargo & Co <WFC.N>, to plug potential capital shortfalls.
These 10 banks were among 19 subjected to government "stress tests" to gauge their readiness to withstand a particularly severe recession in 2009 and 2010.
The other nine, including JPMorgan Chase & Co <JPM.N> and Goldman Sachs Group Inc <GS.N>, got clean bills of health when stress test results were released on May 7.
S&P on May 4 said it may lower its ratings for 23 U.S. banks and thrifts, including 10 that underwent stress tests, citing concern about the industry's capitalization.
It said the 23 companies had at least a 50 percent chance of being downgraded within 90 days.
I agree the bulls are in control right now. Let's see going into the close.
This is a trader's market, IMO. Scalping is the order of the day.
Dow's increase is already down 10% from its high of the day.
We will see.
I will look stupid or lucky in 2.5 hours.
LOL
Low floater here too. Only about 19m shares
In AXTG at .12-- looking for a bounce here too.
Double bottom here? Looks like it could be, Soapy.
Do not worry about bad calls--if you are not willing to swing, you cannot get a hit. lol
Playing FAZ into the close, though. Financials are ignoring the negatives---for awhile. Bet the DOW comes down into the close from the financials.
Just an idea
I wish I could be as positive as you--I think we are headed back to 7500 at a minimum. Unemployment will head over 10%--affecting retailers, credit card companies, banks, commercial real estate --and more
Then we go up over 10000---in 2010
Just my opinion...
U.S. Banking Crisis May Last Until 2013: S&P
Filed at 5:31 p.m. ET
NEW YORK (Reuters) - A day after saying big U.S. banks probably needed to raise only one-fourth the capital demanded by the government, Standard & Poor's said the nation's banking crisis has "merely entered a new phase" and might not end before 2013.
The credit rating agency said the industry is being propped up by hundreds of billions of dollars of government support, especially for lenders considered too important to the financial system to fail.
While efforts to spur lending, take bad assets off banks' balance sheets, and restart the market for packaging and selling securities may help the sector, S&P said banks will have a tough time surviving absent a bigger capital cushion than regulators require.
"There's nothing to say that this banking crisis can't go on for another three or four years," S&P Managing Director Tanya Azarchs said.
S&P did not immediately return a request for comment.
On Tuesday, S&P said major U.S. banks need to raise about $18 billion of capital to protect themselves from the economic downturn, though this amount could grow if conditions worsen.
The amount is well below the $74.6 billion that the government last week ordered 10 of the largest U.S. banks, led by Bank of America Corp <BAC.N> and Wells Fargo & Co <WFC.N>, to plug potential capital shortfalls.
These 10 banks were among 19 subjected to government "stress tests" to gauge their readiness to withstand a particularly severe recession in 2009 and 2010.
The other nine, including JPMorgan Chase & Co <JPM.N> and Goldman Sachs Group Inc <GS.N>, got clean bills of health when stress test results were released on May 7.
S&P on May 4 said it may lower its ratings for 23 U.S. banks and thrifts, including 10 that underwent stress tests, citing concern about the industry's capitalization.
It said the 23 companies had at least a 50 percent chance of being downgraded within 90 days.
U.S. Banking Crisis May Last Until 2013: S&P
FAZ to Soar Tomoorow (my words)
Filed at 5:31 p.m. ET
Skip to next paragraph
NEW YORK (Reuters) - A day after saying big U.S. banks probably needed to raise only one-fourth the capital demanded by the government, Standard & Poor's said the nation's banking crisis has "merely entered a new phase" and might not end before 2013.
The credit rating agency said the industry is being propped up by hundreds of billions of dollars of government support, especially for lenders considered too important to the financial system to fail.
While efforts to spur lending, take bad assets off banks' balance sheets, and restart the market for packaging and selling securities may help the sector, S&P said banks will have a tough time surviving absent a bigger capital cushion than regulators require.
"There's nothing to say that this banking crisis can't go on for another three or four years," S&P Managing Director Tanya Azarchs said.
S&P did not immediately return a request for comment.
On Tuesday, S&P said major U.S. banks need to raise about $18 billion of capital to protect themselves from the economic downturn, though this amount could grow if conditions worsen.
The amount is well below the $74.6 billion that the government last week ordered 10 of the largest U.S. banks, led by Bank of America Corp <BAC.N> and Wells Fargo & Co <WFC.N>, to plug potential capital shortfalls.
These 10 banks were among 19 subjected to government "stress tests" to gauge their readiness to withstand a particularly severe recession in 2009 and 2010.
The other nine, including JPMorgan Chase & Co <JPM.N> and Goldman Sachs Group Inc <GS.N>, got clean bills of health when stress test results were released on May 7.
S&P on May 4 said it may lower its ratings for 23 U.S. banks and thrifts, including 10 that underwent stress tests, citing concern about the industry's capitalization.
It said the 23 companies had at least a 50 percent chance of being downgraded within 90 days.
Nice move on FTCH
Nice day today, Wang. Always nice to see the pause that refreshes
Hey, Jackson, this ESRG that you used to follow some is starting to get some volume--3X average volume today. Not alot really --yet. But Solar energy should do well, and ESRG is right in the middle of it--and our neighborhood--Miami!
Financials are going to get WHACKED, wang!
ESRG chart
Solar energy plays: FSLR, ESLR, ESRG
WEEKLY CHARTS
FSLR
ESLR
ESRG chart