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Talk Stock Trading - Financial Market News

Archive for October 2008

October 21st, 2008

Techie Tuesdays: Exxon Mobil

Welcome to Technical Tuesdays!!! 
Everyone is familiar with Big Oil, so I decided to kick off Techie Tuesdays with Exxon Mobil.  Exxon Mobil has been the focus of much media attention for their record profits but, does that mean you should buy the stock?
Today, I will use the simple moving average to evaluate Exxon Mobil.  The moving [...]

By profsilver -- 4 comments

October 20th, 2008

Oracle to buyback $17 billion in stock

Today, Oracle announced a plan to buyback $8 billion worth of stock in addition to an existing plan to buyback $9.3 billion of stock.
No timeline was given for the $17 billion deal and shares of Oracle rose 6.7 percent today.  Trading activity was pretty normal, just about 400,000 shares above the three-month average of 42.1 million [...]

By profsilver -- 1 comment

October 17th, 2008

Morgan Stanley doubles up

Wow, what a difference a week makes. 
Last Friday, October 10th, shares of Morgan Stanley closed at $9.68.  Today, October 17th, shares of Morgan Stanley closed at $19.24.  That equates to just under a 100 percent return in one week. 
This week has been a crazy week and with all of it’s flip-flopping, the Dow managed to end the [...]

By profsilver -- 0 comments

October 17th, 2008

Warren Buffett’s Shout-out to Equities

This morning’s New York Times ran an op-ed piece entitled “Buy America.  I Am.”  The author is none other than the legendary Mr. Warren Buffett.
The piece was laced with quotables.  Below, you will find a list of those quotes, followed by my opinion on each. :)
Buffett: “I don’t like to opine on the stock market, and [...]

By profsilver -- 0 comments

October 16th, 2008

Apple grows more attractive

Last fall, a student stopped by my office and told me he thought Apple’s stock was going to rise.  He had a few thousand to invest and he asked me if he should buy Apple.  At the time, the stock was trading around $172 per share.
I wanted to scream, “NO!!!!”  But, as a professor it is my rule (and probably [...]

By profsilver -- 0 comments

October 15th, 2008

Beige Book punishes markets

The Fed’s latest Beige Book reads like a tragedy. 
The book is published eight times each year and summarizes economic conditions in each Federal Reserve District (there are twelve).  The Beige Book contains a ton of data.  In a nutshell, economic activity weakened across all Districts.  Below, I have summarized the results from several components.
Consumer Spending and Tourism: Weakened [...]

By profsilver -- 0 comments

October 14th, 2008

Spiders and Cubes are on the move

Today was another wide ranging day for U.S. market indexes.  Nasdaq was the hardest hit, losing 3.5 percent while the Dow lost 0.82 percent and the S&P lost 0.53 percent. 
Today was relatively calm, so in my search for all of the action I decided to take a look at the top five most active issues: SPY, QQQQ, XLF, [...]

By profsilver -- 0 comments

October 13th, 2008

Markets rebound…for now

The days are so crazy, I have to write long after the markets close for fear of being outdated!
Pointwise the Dow posted its largest one-day gain ever, closing at 9,387.61.  Bravo, bravo!!!  Alas, even after today’s earth-shattering performance, I am not convinced. 
I am waiting for the day when stocks stop trading as a market and start trading as individuals again.  What [...]

By profsilver -- 1 comment

October 11th, 2008

Red October

The most terrible days on the market are referred to as Black Monday and Black Thursday.  In accounting and finance, “in the black” is a good thing.  So, for me this label is a bit counterintuitive.  After all, the biggest shopping day of the year is called Black Friday because huge sales on this day push many retailers from the [...]

By profsilver -- 0 comments

October 10th, 2008

The hunt for J.Lo on Wall Street

Did anyone see Jennifer Lopez at the NYSE today?  I know a lot of people who were looking for her!
J.Lo is actually a Wall Street term for what looks like a rounding bottom in a pattern of stock prices.  The pattern suggests a shift from bearish to bullish.  Unfortunately, there were no signs of J.Lo at the NYSE, or [...]

By profsilver -- 0 comments