Tag Archives: djia

Equity Markets Retain Slim Gains

Posted on March 29, 2010 by Benny Hollywood| Leave a comment

Brooks McFeely submits: 4:14 PM, Mar 29, 2010 — NYSE up 61.33 (0.8%) to 7,464.86. DJIA up 45 (0.4%) to 10,896. S&P 500 up 6.63 (0.57%) to 1,173. Nasdaq up 9.23 (0.4%) to 2,404. GLOBAL SENTIMENT Complete Story

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Today in Commodities: Closing the Curtain on Q1

Posted on March 29, 2010 by Benny Hollywood| Leave a comment

Matthew Bradbard submits: Yes folks, believe it or not Q1 is over this week. Crude is convincingly higher, closing above the 9 and 20 day MA for the first time in 8 days. We are abandoning all short strategies, as we said we would on a close above $82 in May. That is not to say we are getting long; we have advised clients to move to the sidelines. Buying was rejected in natural gas today with prices, as of this post, off their lows but 10 cents off their highs. We are almost at our threshold for pain on longs, so we most likely are close to turning around. New entries are advised to look at 50 cent call spreads in June; i.e.$4.00/4.50 or $4.25/4.75. Indices were all higher on the day but have yet to get above last Thursday’s highs. Whether we move higher or lower from here will likely be up to Friday’s NFP number. Complete Story

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The Regulatory Revolving Door

Posted on March 29, 2010 by Benny Hollywood| Leave a comment

Ira Stoll submits: In the post about Paulson & Co.’s $32 billion in assets under management we mentioned that one benefit of being that big is that you get invited to meetings like the one the FDIC held last week . Representing Paulson & Co. at the meeting, according to a participants list , was a senior vice president, Allen Puwalski, whose “Linked In” resume reports that he was chief of bank analysis at the FDIC from 2003 to 2005. Other participants included John L. Douglas, a partner at Davis Polk & Wardwell. Mr. Douglas, who was general counsel of the FDIC from 1987 to 1989, lately has been “counseling Citigroup with respect to FDIC matters,” according to his law firm’s Web site . Complete Story

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Rising Consumer Spending Is Boosting ETFs

Posted on March 29, 2010 by Benny Hollywood| Leave a comment

Tom Lydon submits: The money isn’t exactly flying around yet, but consumers opened their wallets a little wider last month. The news, which is what economists had anticipated, is sending exchange traded funds higher this morning. With consumer spending being two-thirds of the economy, you’d better believe that any improvement on that front will be greeted with a measure of jubilation. Consumer spending rose for the fifth straight month in February. The 0.3% growth matched economists’ expectations. Later this week, the Labor Department will deliver its monthly employment report. The consensus is that it will show jobs growth. Consumer Discretionary Select Sector SPDR ( XLY ) is up slightly this morning. [ Retail ETFs Have Their Work Cut Out. ] Complete Story

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