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Puts Purchased on Americredit Corp (ACF)
Friday, June 18, 2010 - 10:43am | 132Shares of Americredit Corp. (NYSE: ACF) are higher on the session by 0.66%, currently trading at $19.86. The stock has been cascading lower over the past three months and is now nearing the 200-day moving average. Options traders are picking up some protection on ACF today, betting that the slide...
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Bookkeeping: Short Discover Financial Services (DFS)
Wednesday, June 16, 2010 - 10:20am | 397In an identical setup to the short I put on yesterday with Celanese (CE) I am shorting Discover Financial Services (DFS) just under the 200 day moving average of $13.98. The logic is literally identical to the CE short so I won't rehash it, you can read the reasoning if it is not obvious here. I'...
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Stock Market News for June 16, 2010 - Market News
Wednesday, June 16, 2010 - 9:42am | 478Easing global economic worries and a rallying euro sent stocks sharply higher on Tuesday, with industrial and technology companies leading the advance. Solid demand for European debt helped clam jitters that Europe’s finances are in trouble and would weigh on the global economic rebound. After a...
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Company News for June 15, 2010 - Corporate Summary
Tuesday, June 15, 2010 - 10:18am | 212• Best Buy (NYSE:BBY) posted fiscal first quarter earnings of 36 cents a share, versus Zacks estimates of 50 cents, on revenues of $10.8 billion which came in below estimates of $10.95 billion • CBOE Holdings (NASDAQ:CBOE) priced its initial offering late Monday at the top end of its $27-$29 range...
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Financial Headlines: Goldman Sachs, Capital One, Marsh & McLennan
Tuesday, June 15, 2010 - 7:50am | 230Financial Headlines Goldman Sachs (NYSE: GS) – Goldman's customers remain loyal despite all the recent headlines – per Andrew Ross Sorkin in NYT – “there’s an inconvenient truth that’s been largely ignored: Most of Goldman’s big customers are not bolting” NYT -Capital One (NYSE: COF) – credit...
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Calls Sold on Discover Financial (DFS)
Friday, June 11, 2010 - 11:14am | 123Shares of Discover Financial Services Com (NYSE: DFS) are lower on the session by 0.66%, currently trading at $13.51. The stock has been falling for the past two months, but appears to have found support near the $12.50 support level. Options traders are betting that any rally in the name will be...
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Inverted Hammer-time Remix 06-10-2010
Thursday, June 10, 2010 - 6:59pm | 766Cusick’s Corner As I wrote on June 8th, typically the market action of late can generally be described as some small buying on lows, followed by a market recovery and then the market usually just gets pounded at the end of the day. Well, not today. The market actually ended on an upswing. As...
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Upside Purchased on Discover Financial (DFS)
Thursday, June 10, 2010 - 12:49pm | 129Shares of Discover Financial Services Co. (NYSE: DFS) are higher on the session by 6.36%, currently trading $13.37. The stock has been drifting lower throughout May and June; the stock is making lower highs and lower lows, which is a bearish sign. Options traders are picking up some calls on the...
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Top 5 Mid-Cap NYSE Stocks In The Financial Sector With The Highest Cash (AIG, WF, JEF, PRE, DFS)
Thursday, June 10, 2010 - 7:38am | 162Below are the top 5 mid-cap financial stocks on the NYSE in terms of cash. American International Group Inc (NYSE: AIG) had $69.53 billion of cash in the latest quarter, while its debt liabilities stood at $164.55 billion. Woori Finance Holdings Company Ltd (NYSE: WF) had $28.46 billion of cash and...
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Mid-Day Market Movers (DINE, CERP, FONR, TTIL)
Wednesday, June 9, 2010 - 10:50am | 137Rewards Network Inc (NASDAQ: DINE) climbed 33.33% to $13.20 by 10:14 am. Equity Group Investments (EGI) has offered to buy all outstanding shares of DINE for $13.50 per share. Cereplast Inc (NASDAQ: CERP) soared 26.91% to $5.14. CERP expects to ship much more bio-plastic resin in 2010 than it had...
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Citigroup Reiterate American Express As a Top Pick (AXP)
Tuesday, June 8, 2010 - 9:35am | 264Citigroup is out with analyst note this morning that reiterates American Express Co.’s (NYSE: AXP) Top Picks Live status; they also reiterated the price target of $55. Citigroup analysts said that “Over the past few weeks, we have spoken to numerous industry professionals and conclude that there...
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Stock Market News for June 7, 2010 - Market News
Monday, June 7, 2010 - 9:36am | 468U.S. stocks tanked on Friday after the May employment report quashed big hopes and added to the worries of investors who were already jittery about a Hungarian official’s comment late-Thursday that Hungary faces a debt crisis similar to Greece. Although Hungary is not a part of the eurozone, the...
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Bookkeeping: Weekly Changes to Fund Positions Year 3, Week 44
Sunday, June 6, 2010 - 8:01pm | 1868Year 3, Week 44 Major Position Changes To see historic weekly fund changes click here OR the label at the bottom of this entry entitled 'fund positions'. Cash: 84.8% (v 83.0% last week) 17 long bias: 13.1% (v 13.7% last week) 4 short bias: 2.1% (v 3.3% last week) [Includes 1 'long dollar' position...
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Financial Stocks (XLF) Get Crushed
Friday, June 4, 2010 - 4:57pm | 144Friday was another bad day for financial stocks. Shares of the big banks and major financial companies took it on the chin. US Bancorp (USB) dropped 3% to end the day at $22.85. JPMorgan Chase (JPM) slumped 3.8% to $37.62. Bank of America was down almost 3% and Wells Fargo (WFC) was down 3.75%....
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Bookkeeping: Closing Capital One Financial (COF)
Friday, June 4, 2010 - 2:59pm | 584Still like the thesis here of Americans paying off their credit cards since 7M households no longer bother to pay their mortgage, but the market is punishing financials of any sort right now. Similar to Lennar (LEN) yesterday I am going to sell the remaining Capital One Financial (COF) and keep an...