Wall Street’s moneyed elite are now feeling more confident, conspicuously opening their wallets for fancy parties, cosmetic surgery and Hamptons rentals. Meanwhile, in the rest of America, unemployment nears 10%, millions of homeowners can't pay their mortgages... and small businesses are canceling Christmas. [View news story]
Good for Wall Streeters. They tricked and stole from the retail sheep fair and square.
Risk on? Not exactly, as stocks are at heavy losses; Nasdaq may have hit bottom, now down just 1.6% to 2,516, but the S&P 500 is -1.4% to 1,196 and the Dow -1.1% to 11,163. Among sectors, basic materials is heading toward a 3% loss and metals are hammered: gold -2.7% to $1,365; silver -5.6%; platinum -3.5%; copper -3.1%. [View news story]
See you at new highs shortly. Take out today. Jealous of this move up much? I can feel it through my computer. HA
Among this year's most outrageous CEO perks: $772,000 to cover the underwater mortgage on a home sale for Delta Air Lines' (DAL) Richard Anderson, $1.4M in security services for Oracle's (ORCL) Larry Ellison, $1.3M in job relocation expenses for Boston Scientific's (BSX) Ray Elliot. And there's plenty more. [View news story]
Netflix (NFLX -1.4%) should trade at 20x earnings, not 67x earnings, T2's Whitney Tilson says in explaining his short position in the stock. It's a good business, he says, but will need to "really pay up for streaming content." Open Table (OPEN -1.8%) is another favorite short, whose "fair value is well south of 50-60% decline from here." [View news story]
Yeah, I'm sure those shorts have worked out great...if you like losing money.
Felix Zulauf, who nailed the 2009 rally, warns that the end-game is near: "Our system is basically exhausted. Our authorities try to prolong the good times... by printing paper money, by going into more debt, to support the system and get it growing. But it won't get back to where we've come from. At some point of time something has to give." (via) [View news story]
I've noticed those that supposedly nailed the 2009 bottom have been wrong on their bearish calls this year. Goes to show you, don't trust the TV entertainers. If you can't figure things out on your own pick a different vocation.
A recent survey showed that 23% of AT&T (T) iPhone users would switch to Verizon (VZ) if given the chance. But iPhone (AAPL) owners should think twice before jumping ship: Verizon's CDMA network means customers can't surf online while talking on the phone, won't be able to use their phone as broadly internationally, and will chew through their batteries faster. [View news story]
AAPL stock is going to take off short term most likely on this news that's what matters to me.
Latest scary prediction from Paul Farrell: "Wall Street banks control the Federal Reserve system; it’s their personal piggy bank. They’ve already done so much damage, yet have more control than ever... They will eventually destroy capitalism, democracy and the dollar’s global reserve-currency status... most likely by 2020." [View news story]
What happened to the crash he predicted in the spring? He sure can squak like a nice chicken little. Lol.
AOL (AOL +2.9%) confirms it will buy the popular TechCrunch network of sites, for undisclosed terms, and will announce the move on stage at TechCrunch's Disrupt conference in San Francisco. Adding to a stable that already has Engadget gives AOL a significant bloc of tech coverage; TechCrunch will stay in SF and retain "editorial independence." [View news story]
Silicon Valley investor Dave McClure has some advice for Google (GOOG): Get out your checkbook and buy Twitter - and do it soon. “Is there a scenario where you think you don’t have to buy Twitter in the near future? I don’t see it,” McClure says. “Whatever your math is, you better do it soon, because you’re getting killed by Facebook.” [View news story]
Thanks, last time I checked I couldn't just "buy" Twitter. I love these clueless VCs spending other peoples money. I think VC funds have somehow managed to underperform the stock market over the past 10 years, ie negative returns as opposed to 0% returns. Ha.
Outspoken iconoclast Hugh Hendry takes a massive $2B bet that Asia will hit the skids. "At these immense levels of yen strength, Japan is bankrupt," he says. "And because it's deemed to be impossible, the trade is actually asymmetric. By golly if I am right, I can make a lot of money." [View news story]
What happened to his investment in German bonds he put on in 2008? I loved that guy when the crash was going on but haven't followed him since. I was under the impression he was on the wrong side of the trade all of last year and I'm assuming this year as well?
Why are stocks moving higher when everything looks so bad? It seems the "less-bad trade" - when the market gets a lift from things not being as bad as investors had expected - has returned to Wall Street. But as investors continue to pull money out of equities, the chances of a breakout look dim. [View news story]
10 years of 0% gains. Keep listening to Cramer and the other con men on CNBC retail idiots. Haha.
The bears could lose control of the market this week, Jim Cramer says, and if they do, be prepared for a blastoff in cloud computing; breakouts in areas such as railroads, insurers and auto parts; and a bottom in the big banks and home builders. [View news story]
Thanks for the laugh. Jimmy still waiting for the housing bottom you called in 2008 or was it 2007.
Dividend stocks are coming back into favor, and more than a third of S&P 500 firms have increased their quarterly payouts this year. If you're looking for stable companies with cheap valuations and strong potential to grow dividends, check out Abbott Labs (ABT), Baxter Int'l (BAX), Paychex (PAYX), Tupperware (TUP) or Wells Fargo (WFC). [View news story]
I remember when MO, one of the safest stocks out there right?....dropped 50% out of the blue 11 years ago. Yeah uh safe.
Wall Street’s moneyed elite are now feeling more confident, conspicuously opening their wallets for fancy parties, cosmetic surgery and Hamptons rentals. Meanwhile, in the rest of America, unemployment nears 10%, millions of homeowners can't pay their mortgages... and small businesses are canceling Christmas. [View news story]
Risk on? Not exactly, as stocks are at heavy losses; Nasdaq may have hit bottom, now down just 1.6% to 2,516, but the S&P 500 is -1.4% to 1,196 and the Dow -1.1% to 11,163. Among sectors, basic materials is heading toward a 3% loss and metals are hammered: gold -2.7% to $1,365; silver -5.6%; platinum -3.5%; copper -3.1%. [View news story]
Among this year's most outrageous CEO perks: $772,000 to cover the underwater mortgage on a home sale for Delta Air Lines' (DAL) Richard Anderson, $1.4M in security services for Oracle's (ORCL) Larry Ellison, $1.3M in job relocation expenses for Boston Scientific's (BSX) Ray Elliot. And there's plenty more. [View news story]
Next Week Could Be Huge [View article]
Netflix (NFLX -1.4%) should trade at 20x earnings, not 67x earnings, T2's Whitney Tilson says in explaining his short position in the stock. It's a good business, he says, but will need to "really pay up for streaming content." Open Table (OPEN -1.8%) is another favorite short, whose "fair value is well south of 50-60% decline from here." [View news story]
Felix Zulauf, who nailed the 2009 rally, warns that the end-game is near: "Our system is basically exhausted. Our authorities try to prolong the good times... by printing paper money, by going into more debt, to support the system and get it growing. But it won't get back to where we've come from. At some point of time something has to give." (via) [View news story]
A recent survey showed that 23% of AT&T (T) iPhone users would switch to Verizon (VZ) if given the chance. But iPhone (AAPL) owners should think twice before jumping ship: Verizon's CDMA network means customers can't surf online while talking on the phone, won't be able to use their phone as broadly internationally, and will chew through their batteries faster. [View news story]
Latest scary prediction from Paul Farrell: "Wall Street banks control the Federal Reserve system; it’s their personal piggy bank. They’ve already done so much damage, yet have more control than ever... They will eventually destroy capitalism, democracy and the dollar’s global reserve-currency status... most likely by 2020." [View news story]
AOL (AOL +2.9%) confirms it will buy the popular TechCrunch network of sites, for undisclosed terms, and will announce the move on stage at TechCrunch's Disrupt conference in San Francisco. Adding to a stable that already has Engadget gives AOL a significant bloc of tech coverage; TechCrunch will stay in SF and retain "editorial independence." [View news story]
Silicon Valley investor Dave McClure has some advice for Google (GOOG): Get out your checkbook and buy Twitter - and do it soon. “Is there a scenario where you think you don’t have to buy Twitter in the near future? I don’t see it,” McClure says. “Whatever your math is, you better do it soon, because you’re getting killed by Facebook.” [View news story]
Outspoken iconoclast Hugh Hendry takes a massive $2B bet that Asia will hit the skids. "At these immense levels of yen strength, Japan is bankrupt," he says. "And because it's deemed to be impossible, the trade is actually asymmetric. By golly if I am right, I can make a lot of money." [View news story]
Why This Is a Sustainable Rally and We Are in a Bull Market (Part II) [View article]
Why are stocks moving higher when everything looks so bad? It seems the "less-bad trade" - when the market gets a lift from things not being as bad as investors had expected - has returned to Wall Street. But as investors continue to pull money out of equities, the chances of a breakout look dim. [View news story]
The bears could lose control of the market this week, Jim Cramer says, and if they do, be prepared for a blastoff in cloud computing; breakouts in areas such as railroads, insurers and auto parts; and a bottom in the big banks and home builders. [View news story]
Dividend stocks are coming back into favor, and more than a third of S&P 500 firms have increased their quarterly payouts this year. If you're looking for stable companies with cheap valuations and strong potential to grow dividends, check out Abbott Labs (ABT), Baxter Int'l (BAX), Paychex (PAYX), Tupperware (TUP) or Wells Fargo (WFC). [View news story]