Rant About ItRant About ItThe purpose of this blog is to educate every reader including me about trading in stocks by understanding the fundamentals and techicals behind it Articles
Why Stop Loss Should Be Part Of Your Trade
2008-05-29 02:34:00 I played MR again, trying to short it below $40, since it was a pivot resistance point. Confident from my previous short attempt i was hoping for a repeat. I shorted 600 MR @ $39.99. This was exactly the same trade i played earlier. However the only difference this time was I decided to short more of MR if it went up, due to the fact that it wont hold 40+ for long. (since it couldn't hold it in the morning too). My next short entry was 600 MR @ $40.29 (making my average 1200 MR @ $40.14). This plan turned out to be a horrible trade because that meant I didn't setup a stop loss. With no stop loss in play i was left vulnerable to any spike up. This is exactly what happened. In the last hour of trading MR took a bounce from $40.10 to $40.82 leaving me angry at myself for not putting a stop loss and cutting short my loss.At this point I had to 2 options, to hold my short overnight and hope for a drop or to cut my losses and run. Overnight positions are very tricky and can sometime lea... More About: Stock Picks , Trade , Traders , Stop , Loss
Some Trades Work Just Awesome
2008-05-29 02:20:00 Pacific Sunwear of California, Inc. (PSUN) played out exactly the way I had planned it. It feels awesome when it does.I sold PSUN at $9.51 with a profit of 6.5% (my entry point was $8.93) in 2 trading days.Woohoo.... More About: Stock Picks , Awesome , Work , Traders
When Is It Not A Good Time To Short
2008-05-29 01:48:00 Chico's FAS Inc. (CHS), a specialty retailer of casual to dressy clothing and accessories, reported lower first quarter profit due to a decline in sales. The company continues to expect negative comparable store sales and lower earnings for the first half of 2008. Net income posted by the company plunged to $12.7 million, or $0.07 per share, for the first quarter from $47.2 million, or $0.27 per share, a year ago but beat analysts' estimate of $0.06 per share. Net sales for the quarter declined 9.6% to $409.6 million from $453.1 million reported for the same period last year, reflecting a 17.5% decline in comparable store sales. Fifteen analysts estimated revenues of $416.58 million. For the first half of 2008, the company continues to expect negative comparable store sales and expects to have lower earnings than the first half of 2007.The fact that the company beat estimates made the stock spike more than 12%. However i believe this is a bogus rally. That said, shorting on the fi... More About: Stock Picks , Time , Traders , Good , Short
WatchList For 28th May 2008
2008-05-28 08:51:00 Watchlist for Long EntryWatchlist for Short Entry More About: Stock Picks , Traders , 2008
Why Am I Playing Lousy Retailer
2008-05-28 03:10:00 Pacific Sunwear of California, Inc. (PSUN) is a specialty retailer focused on action-sport inspired casual apparel, accessories and footwear designed to meet the needs of active teens and young adults.I am playing PSUN, purely on technicals. PSUN formed a bottom during the month of Jan 08 at $8.87. After a lousy earnings PSUN hit $8.82 again on 23rd May 08. This could be a pivot support point and possibility of a double bottom. I might be completely wrong and the trade might turn out a horrible one. But in terms of risk/reward it looks lucrative even though the fundamentals are against it. Fundamentally PSUN posted a wider first-quarter loss of $37.1 million, or 53 cents per share on lower sales and a charge related to the closure of a facility. However the loss was in line with analysts' predictions. Technically PSUN is oversold and the following indicators show that.Current RSI = 24.46Current MFI = 14.58Current Slow Stochastics = 4.59Entry Price = $8.93Exit Price = $9.43 (Meanin... More About: Retail , Support , Traders , Technical Analysis , Retailer
Why You Need To Be Patient With Your Trade
2008-05-28 02:52:00 Trading takes alot of discipline. Good traders always make a set of trading rules and stick to it. They have already calculated their exit positions even before trade entry. Planned trades always work out better than no-exit strategy trades. That said, most traders always end up breaking their own trading rules. More often traders will lose money or make a smaller profit by breaking those trading rules.One key ingredient to be a successful trader is to be patient. Patience pays off sooner or later. I didn't bank much profit on the following trade because i broke my own rule and lost my patience.Mindray Medical International Limited is developer, manufacturer and marketer of medical devices in China. The ticker symbol is MR.As you see, MR has strong resistance at $40. Knowing this fact, I entered a short position at 39.95. (1000 MR short @ 39.95). I expected it to crack back to lower 39's by afternoon. However from 11.30 am to 2.30 pm MR was trading absolutely flat making it an ext... More About: Trade , Traders , Patient
Bearish Engulfing Pattern
2008-05-23 07:41:00 A chart pattern that consists of a small white candlestick with short shadows or tails followed by a large black candlestick that eclipses or "engulfs" the small white one. As implied by its name, a bearish engulfing pattern may provide an indication of a future bearish trend. This type of pattern usually accompanies an uptrend in a security, possibly signaling a peak or slowdown in its advancement. However, whenever a trader analyzes any candlestick pattern, it's important for him or her, before making any decisions, to consider the prices of the days that precede and follow the formation of the pattern.Lets take a look at few current charts to predict future movement.Cardiome Pharma Corp. (CRME) is a drug research and development company focused on developing drugs to treat or prevent cardiovascular diseases. Bearish engulfing pattern is formed on this stock today. This makes CRME a short-term short candidate.Current Price: 9.20Target Price: 8.80Packaging Corp... More About: Traders , Technical Analysis , Pattern
China Mobile: A Stock With Alot Of Upside
2008-04-23 08:54:00 IntroductionChina Mobile Limited (CHL) is an investment holding company and a mobile services provider in China. Its principal activity is providing mobile telecommunications and related services in 31 provinces, autonomous regions and directly administered municipalities in Mainland China and Hong Kong. As of December 31, 2007, the total number of subscribers reached 369.339 million. The Company?s businesses can be primarily divided into voice business and new businesses.Recent Earnings Report China Mobile Ltd., the country's biggest mobile phone carrier, said Monday its first-quarter profits surged while China Telecom Ltd., the country's main fixed-line carrier, reported essentially flat earnings, reflecting a shift in consumer tastes.China has the world's biggest population of mobile users, with some 520 million accounts, and the government says that number should reach 600 million soon. China Mobile said profits for the three months ending March 31 rose 37.2 percent over the... More About: Stock , Upside
Q1 2008 Earning Season - Part 1
2008-04-23 07:46:00 Yahoo! Reaffirms Revenue GuidanceYahoo! (YHOO) said it expects second quarter revenue of $1.73 billion to $1.93 billion and continues to expect 2008 revenue of $7.20 billion to $8.00 billion, including TAC. The current consensus estimate is revenue of $1.4 billion for the quarter ending June 30, 2008 and revenue of $5.7 billion for the year ending December 31, 2008, excluding TAC.Broadcom Sees Revenue Above EstimatesBroadcom (BRCM) said during its conference call it expects second quarter revenue of $1.075 billion to $1.125 billion. The current consensus estimate is revenue of $1.03 billion for the quarter ending June 30, 2008.ANADIGICS Guides Above EstimatesANADIGICS (ANAD) said it expects second quarter earnings of $0.16 to $0.17 per share on revenue of $77.0 million to $79.0 million. The current consensus earnings estimate is $0.13 per share on revenue of $73.0 million for the quarter ending June 30, 2008.Peabody Energy Raises GuidancePeabody Energy (BTU) said it expects second q... More About: Season , Earnings , Part , Earning
Economists Even More Gloomy About US Prospects
2008-04-22 06:10:00 CNBC has a story about how economists are gloomy about US economy: Economists Even More Gloomy About US ProspectsBusiness economists are turning pessimistic about the U.S. outlook and increasingly fear economy will slip into a recession in coming months.The National Association for Business Economics said that the 109 members who responded to its quarterly survey were "notably downbeat" about their first-quarter experience and about near-term prospects.For the first time in five years, reports of falling profit margins outnumbered reports of rising margins in the first quarter of 2008......"Seventy percent say they are more pessimistic than three months ago," NABE said.Among other concerns, 66 percent of respondents said they paid more for materials in the first quarter this year, which NABE said was the highest share since 2004. They blamed weakening markets and soaring commodity prices for squeezing profit margins......"Thirty-nine percent of respondents stated that tightening cre... More About: Economy
April Weekly Buzz
2008-04-15 09:08:00 CEOs are pessimistic about the economy (kansascity.com)World Markets Says U.S. Economy in a Recession (bloomberg.com)Mortgage fraud is a growing problem (azcentral.com)4,000 U.K. Real Estate Agents Might Have to Close (bloomberg.com)Financial Meltdown and the Madness of Imperialism (indybay.org)The Housing Crisis and Credit Crunch (rightsideadvisors.com)Citigroup May Need to Sell Assets to Bolster Capital (bloomberg.com)Speculation Growing Fed May Be Done Cutting Rates (cnbc.com)U.K. Banks Need $200 Billion Aid (bloomberg.com)Financial CEOs See Recession on the Way (wsj.com)Recession Forces Teens To Curb Spending (commoncensus blog)Californians' confidence in economy drops to record low (tradingmarkets.com)Industrial properties hit by slump in economy (startribune.com) More About: April , Industry News , Buzz , Weekly
Credit Crisis Could Affect Markets for Decade
2008-04-15 08:25:00 CNBC has a story about how credit crisis affect markets for decade : Credit Crisis Could Affect Markets for DecadeThe credit crisis will affect financial markets for at least a decade and lead to greater regulatory powers for central banks, analysts at JP Morgan said."Market participants and regulators will focus intensely on controlling the risks that were at the core of the crisis," analysts led by Jan Loeys and Margaret Cannella wrote in a note on Monday. These risks include lending standards in mortgages, leverage in the funding of securitized products, and the use of short-term financing for illiquid long-term assets outside of the regulated banking sector....It looks like it takes a generation for the memory to fade and for the same mistakes to be made again. Global equity markets remained extremely cheap on all risk measures even five to six years after the end of the dotcom crash. As a result of these changes in behavior, banks will become bigger, safer and somewhat less pro... More About: Industry News
Credit Crunch Hurts Hedge-Fund Stars
2008-04-14 07:44:00 WSJ: Credit Crunch Hurts Hedge-Fund Stars David Tepper, founder of hedge-fund firm Appaloosa Management LP, saw a negative 17% return last quarter in two funds with more than $6 billion in assets combined as bets on distressed debt went awry, according to fund documents. His Appaloosa Investment and Palomino funds gave up most of that ground in January and February, as declining prices for mortgage-backed bonds and other debt investments caused broad credit-market seizures....Some hedge-fund managers who have fared better this year are saying the wild ride in the markets isn't over. "As we enter the second quarter, the volatility seen in past months does not appear to be in the process of disappearing soon," wrote Philip Falcone, a former head of high-yield trading at Barclays Capital who runs $19 billion hedge-fund firm Harbinger Capital Partners, in a quarter-end letter to his investors. "Rising default rates, consumer struggles, weak labor markets and contraction in manufacturing... More About: Industry News , Mortgage
IMF Issues Gloomy Assessment of Markets
2008-04-09 08:28:00 News Press: IMF Issues Gloomy Assessment of Markets The International Monetary Fund on Tuesday said the global credit crisis, despite some recent improvement, remains a significant threat to economic growth.Despite "unprecedented intervention" by central banks such as the Federal Reserve, "financial markets remain under considerable strain, now compounded" by a slowing economy, low levels of capital at financial companies and widespread efforts to unload debt, the fund said.The U.S. mortgage and credit crises could cause almost $1 trillion in financial losses, the IMF said in an update to its Global Financial Stability Report, with $565 billion of those losses stemming from the residential mortgage market and related securities, and the rest from the commercial real estate, consumer credit and corporate debt markets. That estimate is toward the higher end of estimates by many Wall Street economists, who have pegged the costs of the residential mortgage meltdown at $400 billion to $6... More About: Economy , Investment Bank
UPS Cuts Outlook on Lower Volume and Fuel Costs
2008-04-08 16:52:00 CNBC has a story about UPS cutting their outlook : UPS Cuts Outlook on Lower Volume and Fuel CostsUnited Parcel Service, the world's largest shipping carrier, cut its first-quarter profit guidance Tuesday, citing lower volume and higher fuel costs.The company said it now expects earnings per share of 86 cents or 87 cents. Previously, the company said it expected first quarter profit between 94 cents and 98 cents per share.Analysts polled by Thomson Financial were expecting earnings of 93 cents per share. UPS shares fell about 4 percent in electronic after-hours trading.The company said lower volume trends from February continued through March, making it impossible to meet its prior guidance.Atlanta-based UPS said a shift away from premium products and higher fuel costs also contributed to the guidance cut.Weaker dollar has lead to higher inflation affecting oil prices. The Federal Reserve faces a dilemma now as to low interest rates to save banks from imploding and stimulating the ... More About: Oil
Beware These Toxic Stocks
2008-04-08 16:26:00 BusinessWeek has an interesting story about Toxic Stocks : Beware These 'Toxic' Stocks Bullish noises for the market abound. Fed Chairman Ben Bernanke makes it clear that he's prepared to pull out all the stops to prevent economic collapse, and Treasury Secretary Henry Paulson is talking up broad investor-friendly reforms for market regulators. And, while still behind the fiscal curve, Congress is finally recognizing that emergency measures are needed to help alleviate homeowners' pain and to help prevent a financial catastrophe. With the close of a dismal first quarter, there hangs a faint whiff of optimism in the air over Wall Street. But a warning to investors ready to plunge into the market: Beware of land mines. Even if you think you know perfectly well which stocks are safe, the current market remains a beehive of hazards. Watch out, first of all, for "toxic" stocks that may appear enticing now, but could poison your portfolio at this critical stage of the market. In inve... More About: Stock Picks , Short Selling
US Home Prices In 2009
2008-04-08 10:26:00 Bloomberg has a story about Greenspan's take on US home prices: Greenspan Says U.S. Home Prices May Stabilize in 2009Former Federal Reserve Chairman Alan Greenspan said the drop in U.S. home prices will probably end well before early next year as the number of houses on the market diminishes, aiding an economic rebound. It will not be until early 2009 that we will get close to having eliminated most of this home inventory, Greenspan told a conference in Tokyo today sponsored by Deutsche Bank AG and co-hosted by Bloomberg LP. But it is very likely that home prices will stabilize well before that. Greenspan added that the extent of damage stemming from the collapse of the subprime-mortgage market won't be known for months. He described the credit crisis as the worst in 50 years, echoing the assessment of International Monetary Fund economists. Once the markets start to stabilize, especially if the real economies don't go into a severe recession, then we can expect a recovery to b... More About: Real Estate
How 200 DMA Makes A Difference
2008-04-08 03:44:00 By TradingMarkets ResearchUp 10% or more in the past few days may be a great way to start the week, but moves like that can be great ways to start a reversal, as well.We examined millions and millions of simulated stock trades between 1995 and 2007 with the goal of better understanding short term stock behavior. Is it better to buy breakouts or pullbacks? Is it better to buy a stock that has rallied over the past few days or a stock that has fallen for the past several sessions? Which is truly more bullish: stocks that are making higher highs or stocks that are making lower lows?What we found out may surprise you. Most importantly, we found out that context is key. Stocks trading above the 200-day moving average tend to act very differently from stocks that are trading below the 200-day moving average. In fact, just about everything that can be said about stocks should be filtered through this one primary lens: is the stock in question above or below the 200-day moving average?We be... More About: Technical Analysis , Difference
Weekend Webinar
2008-04-07 07:37:00 Interesting technical analysis by Michael Oscar. More About: Video , Weekend , Technical Analysis , Webinar
When Psychology Changes, News Changes
2008-04-07 05:36:00 Elliotwave blog has a story about how when psychology changes, news changes: When Psychology Changes, News Changes When collective psychology changes, coverage of the news changes with it.I realize how that statement can be understood in at least two ways, so let's get specific. Am I talking about "changes" ina) how news will be covered, orb) the version of news that has been covered already?My answer is: Both. Which is to say, psychology can and often does change everything. In the case of changing the version of news that has been covered already, the most obvious recent example is the Federal Reserve's bailout of Bear Stearns, which was engineered during the weekend of March 15-16.You may remember some of the particulars from the news at that time -- the sense of fear was palpable, as print and broadcast media were full of stories that speculated about which big bank "might fail next" and "how much worse this will get." Bear Stearns was so reckless in its subprime lending that ...
Weekly Economic Calendar
2008-04-07 02:07:00 Monday: Consumer Credit (3 p.m.)The dollar value of consumer installment credit outstanding. Changes in consumer credit indicate the state of consumer finances and portend future spending patterns.Tuesday: Chain Store Sales (7:45 a.m.), Retail Sales (8:55 a.m.), Pending Home Sales (10 a.m.), FOMC Minutes (2 p.m.), Consumer Confidence (5 p.m.)This weekly measure of comparable store sales at major retail chains, published by the International Council of Shopping Centers, is related to the general merchandise portion of retail sales. It accounts for roughly 10 percent of total retail sales.The National Association of Realtors developed the pending home sales index as a leading indicator of housing activity. As such, it is a leading indicator of existing home sales, not new home sales. A pending sale is one in which a contract was signed, but not yet closed. It usually takes four to six weeks to close a contracted sale.On December 14, 2004, the Federal Open Market Committee announced th... More About: Weekly , Economic , Calendar
Employment Situation: Why Do Investors Care
2008-04-06 05:03:00 The employment situation is a set of labor market indicators. The unemployment rate measures the number of unemployed as a percentage of the labor force. Nonfarm payroll employment counts the number of paid employees working part-time or full-time in the nation's business and government establishments. The average workweek reflects the number of hours worked in the nonfarm sector. Average hourly earnings reveal the basic hourly rate for major industries as indicated in nonfarm payrolls. (Bureau of Labor Statistics, U.S. Department of Labor) Why Do Investors Care ?If ever there was an economic report that can move the markets, this is it! The anticipation on Wall Street each month is palpable, the reactions are dramatic, and the information for investors is invaluable. By digging just a little deeper than the headline unemployment rate, investors can take more strategic control of their portfolio and even take advantage of unique investment opportunities that often arise in th... More About: Employment , Situation
Buzz Around This Week...
2008-04-05 03:24:00 Employers in U.S. Cut 80,000 Jobs, More Than Estimated; Jobless Rate 5.1% (Bloomberg)Lenders Swamped By Foreclosures Let Homeowners Stay (Bloomberg)If Recession Is Finally Here, Just How Bad Will It Be? (CNBC)Cramer Makes Sense For A Change (CNBC)Lehman sees banks, others writing down $400 billion (CNBC)How to Predict How Far Home Prices Will Fall (CNBC) Local office vacancy rate skyrockets (The San Diego Union Tribune) Microsoft Gives Yahoo Deadline, Signals Lower Bid (Bloomberg)Bankruptcies Jump 30% in March, Led by Housing-Bust States (Bloomberg)Strip-Mall Vacancy Rate Is Lowest in 12 Years (CNBC)The day $2 billion walked out the door (Fortune)The Mortgage Bust Goes Global (NYTimes)Wall Street undergoes big mood change (BusinessWeek ) More About: Industry News , Buzz
AU Optronics Corp. - An Attractive Trade
2008-03-27 08:44:00 AU Optronics Corp. (AUO) designs, develops, manufactures, assembles and markets flat panel displays. The Company's principal products are thin-film transistor liquid crystal display (TFT-LCD) panels. Its panels are used in computer products, such as notebook computers and desktop monitors; consumer electronics products, such as digital cameras, digital camcorder, car television, car navigation systems and portable digital versatile disc (DVD) players, and liquid crystal display (LCD) televisions. It offers small to medium-size panels, as well as large-size panels. AU Optronics Corp. sells its panels primarily to original equipment manufacturing service providers.Recent NewsShare price of AUO were higher March 20 after Jefferies & Co.?s Brian White launched coverage of the company with a Buy rating and $25 price target. White says the LCD panel market will be ?tight? this year, following ?capacity underinvestment in recent years.? He says recent visits with Taiwanese LCD panel m... More About: Stock Picks , Trade , Technical Analysis , Attractive
New Home Sales: Why Do Investors Care
2008-03-27 06:38:00 New home sales measure the number of newly constructed homes with a committed sale during the month. The level of new home sales indicates housing market trends and, in turn, economic momentum and consumer purchases of furniture and appliances. Why Do Investors Care?This provides a gauge of not only the demand for housing, but the economic momentum. People have to be feeling pretty comfortable and confident in their own financial position to buy a house. Furthermore, this narrow piece of data has a powerful multiplier effect through the economy, and therefore across the markets and your investments. By tracking economic data such as new home sales, investors can gain specific investment ideas as well as broad guidance for managing a portfolio. Each time the construction of a new home begins, it translates to more construction jobs, and income which will be pumped back into the economy. Once the home is sold, it generates revenues for the home builder and the realtor. It bring... More About: Economy , Real Estate , Sales , Home , Mortgage
Durable Good Orders: Why Do Investors Care
2008-03-27 06:07:00 Durable goods orders reflect the new orders placed with domestic manufacturers for immediate and future delivery of factory hard goods.Why Do Investors Care ?Investors want to keep their finger on the pulse of the economy because it usually dictates how various types of investments will perform. Rising equity prices thrive on growing corporate profits - which in turn stem from healthy economic growth. Healthy economic growth is not necessarily a negative for the bond market, but bond investors are highly sensitive to inflationary pressures. When the economy is growing too quickly and can't meet demand, it can pave the road for inflation. By tracking economic data such durable goods orders, investors will know what the economic backdrop is for these markets and their portfolios.Orders for durable goods show how busy factories will be in the months to come, as manufacturers work to fill those orders. The data not only provide insight to demand for items such as refrigerators and cars,... More About: Economy , Good , Manufacturing
Interesting Stories Of The Day
2008-03-26 06:45:00 Taxpayers May Be Liable for Billions From Bear, Mortgage Rescue Even as the Bush administration insists it won't risk public funds in a bailout, American taxpayers may already be liable for billions of dollars stemming from Federal Reserve and Treasury efforts to quell a financial crisis. History suggests the Fed may not recover some of the almost $30 billion investment in illiquid mortgage securities it received from Bear Stearns Cos.....Read OnPaulson Says New Financial Rules NeededIf big Wall Street investment houses are allowed to run to the Federal Reserve for emergency lending, they must face stepped-up regulation, Treasury Secretary Henry Paulson declared Wednesday.....Read OnDemand for durable goods falls 1.7% in FebThe unexpected decline in orders for big-ticket items marked the second straight monthly drop, an indication that domestic demand is weakening faster than exports can grow. "This is another report that has a strong recessionary feel about it," wrote ... More About: Interesting , Stories , Real Estate
Why Its Time To Be A Bear
2007-12-19 07:39:00 Financials SlideGoldman Sachs Group (GS). on Tuesday gave a cautious outlook for Wall Street in 2008 because of the ongoing credit crisis, even as the world's largest investment bank chalked up another record-breaking year. During Q4, Goldman's $3.17 billion profit was fueled by higher investment banking fees, one-time asset sales, and surprisingly strong debt trading results. Though quarterly results easily surpassed Wall Street's projections, for some analysts they lacked the kind of power and finesse investors have come to expect. Goldman said it faced one of the worst Novembers on record, which has only somewhat loosened this month. Goldman's troubles were taken as something of an ominous sign for other investment banks yet to report results, particularly Morgan Stanley, which reports Wednesday, and Bear Stearns, which reports Thursday.Lehman Brothers says its Q4 profit fell for the third straight quarter, slipping 11% from a year ago on net write-downs of $830 million on fi... More About: Real Estate , Time , Retail , Mortgage , Recession
We're Heading Toward Financial Chaos
2007-12-12 01:36:00 We are only at the beginning of the financial world coming to its senses after the bursting of the biggest credit bubble the world has seen. Everyone seems to acknowledge now that there will be lots of mortgage foreclosures and that house prices will fall nationally for the first time since the Great Depression. Some lenders and hedge funds have failed, and some banks have taken painful write-offs and fired executives. There's even a growing recognition that a recession is over the horizon. But let me assure you, you ain't seen nothin' yet.Rest of the article is....hereAnother interesting article is... here More About: Real Estate , Financial , Mortgage , Chaos , Heading
The Power of Rate-Cut
More articles from this author:2007-12-11 02:03:00 Swiss banking giant UBS warned today that it will write down the value of its subprime mortgage holdings by a further $10 billion, leading to a loss in the fourth quarter and potentially wiping out all its profits for the year.Bank of America Corp. said today that it's shutting a $12 billion a money-market fund of sorts and halting cash withdrawals after losses from complex investments tied to the mortgage crisis.Washington Mutual Inc., the nation's largest savings and loan, said today problems in the mortgage and credit markets are forcing it to close offices, lay off more than 3,000 workers and set aside up to $1.6 billion for loan losses in its fourth quarter. Additionally, WaMu slashed its quarterly dividend 73 percent and said it plans a $2.5 billion offering of convertible preferred stock.However with the rate-cut due tomorrow, this kind of bad news had no effect on the market...infact the exact opposite thing happened. The market added 100+ points..This is what i call power... More About: Power , Federal Reserve , Rate 1, 2, 3, 4, 5 |
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