Thursday, December 3, 2009
BAC Payoffs Off TARP
The news of the day is B of A paying off TARP, partially through selling a bunch of shares in a secondary offering. I guess that was expected, but I don't see how issuing $19B in shares is a positive. I am looking for early weakness off the bell, and then a steady uptrend from midday to the close. I believe the jobs number will push the market higher premarket on Friday, so I will be setting up accordingly. Gold and the S&P are both setting up for good shorting opportunities soon. I am thinking Friday will be the day to put on the position.
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5 comments:
It seems like every day the shorts raise their stop targets, and nonetheless manage to get squeezed.
And then the market sells off...
It seems like every day the shorts raise their stop targets, and nonetheless manage to get squeezed.
And then the market sells off...
I'm ready to average down on EDZ tomorrow dawg.
I expect a pullback to at around 1086 from 1120 if we get there.
Doesn't make sense how 20 bln in stock offered into the market is positive for the stock.
Does UNG time decay like FAZ?
UNG suffers from negative roll yield, not time decay. Since natural gas is almost always in contango.
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