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It's Inverted Hammertime! 06-06-2011
Monday, June 6, 2011 - 3:25pm | 947Cusick's Corner With Finance and Energy challenged, plus AAPL under some pressure, the shorts have the strength on their side in spite of Friday's Bullish technical set up that created an inverted hammer. The market looks poised for continued safe haven buying, Gold/Silver, along with continued...
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Is Citigroup The Worst Stock Ever?
Monday, June 6, 2011 - 2:46pm | 328Normally at Benzinga we don't spend too much time bashing stocks and management, but in the case of Citigroup (NYSE: C), we would be remiss if we didn't mention that this may be one of the worst stocks of all time. The bag holders who bought the government's shares in Citi are getting raked over...
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Markets Bounce Off Master Level
Monday, June 6, 2011 - 12:02pm | 267The markets sold off early in the session, tagging a master pivot low from April 18th, 2011. This low on the SPDR S&P 500 ETF (NYSE: SPY) was at $129.55. This level represents a short term major support for the market and it is very possible a multi day bounce will occur. In addition, sentiment...
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Pandora Media To Offer 13.64M Shares in IPO
Friday, June 3, 2011 - 7:41am | 113Pandora Media Inc announced its plans to offer 13.64 million shares at an expected price of $7 to $9 per share in its initial public offering (IPO) of common stock. Pandora Media's stock will trade under the symbol “P” on the New York Stock Exchange (NYSE). Pandora Media will raise $109 million...
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Foster's: Australian for Acquisition Speculation
Friday, June 3, 2011 - 7:02am | 209Foster's Group, an Australian-based brewer, is famous for its marketing catchphrase: "Foster's: Australian for beer." Lately though, the company's executive staff has had to deal more with a potential buyer than marketing, a source told Reuters. Speculation has grown that Molson Coors Brewing...
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Market is Damaged -- Levels to Watch 06-02-2011
Thursday, June 2, 2011 - 6:32pm | 911Cusick's Corner No surprise that the market finished at breakeven. The data tomorrow, Unemployment, will be scrutinized and a lot of investors will then find out how much of that selling from the previous session was in front of what could be a bad number. The reality is that this market is...
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Doug Kass Positive On Markets Mid-Day
Thursday, June 2, 2011 - 1:10pm | 84Doug Kass tweeted that he was positive on the markets as the reversal to the upside in financials and the weakness in the consumer staples was a positive sign for the markets. Names to consider are Goldman Sachs (NYSE: GS), Citigroup (NYSE: C), J.P. Morgan (NYSE: JPM) in the financial sector.
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Banks Stocks Remain Weak
Thursday, June 2, 2011 - 10:15am | 210As we all know, the major stock indexes plummeted yesterday. The financial stocks lead the decline as every major bank and financial institution came under heavy selling pressure. This morning, the major financial stocks are once again coming under early selling pressure. It is important to note...
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John Paulson Makes Bold Claim On Bank Of America
Thursday, June 2, 2011 - 10:06am | 87Legendary hedge fund investor John Paulson is out with some bold comments on Bank of America (NYSE: BAC) this morning that is catching many off guard. Paulson, who runs Paulson & Co. said that Bank of America will be at $30 per share by the end of 2011. Shares are currently trading at $11.13...
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Financials Dropping On Goldman Sachs Subpoena, Moody's Watch
Thursday, June 2, 2011 - 9:55am | 124Just what the market needed was more bad news. Goldman Sachs (NYSE: GS) shares are dropping on news that a Manhattan Prosecutor is subpoenaing the company. In addition to this bad news, Moody's has put the debt of Citigroup, Bank of America and Wells Fargo (NYSE: WFC) on credit watch. As a...
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Benzinga's Top ETF Decliners, June 1st (AGQ, FAS, TNA, SOXL, DRN)
Wednesday, June 1, 2011 - 7:06pm | 254ProShares Ultra Silver (ETF) (NYSE: AGQ) led the decliners among the ETFs on Wednesday, with a loss of 9.69%. AGQ closed at $187.12, and it had a volume of 3.01M traded shares. Direxion Daily Financial Bull 3X Shares(ETF) (NYSE: FAS) dropped 9.53% today as Bank of America Corporation (NYSE: BAC)...
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Benzinga's Top ETF Gainers, June 1st (TVIX, ZSL, FAZ, TZA)
Wednesday, June 1, 2011 - 6:52pm | 183VelocityShares Daily 2x VIX Short Term ETN (NYSE: TVIX) spiked 12.50% today, and broke its five day losing streak. TVIX closed at $20.97, and it had a volume of 2.52M traded shares. ProShares UltraShort Silver (ETF) (NYSE: ZSL) gained 10.25% on Wednesday as silver struggled. ZSL closed at $17.74,...
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Master Analysis: Stock Markets Tumble
Wednesday, June 1, 2011 - 12:52pm | 348The markets continued their big drop into the lunch hour with the SPDR S&P 500 ETF (NYSE: SPY) hitting a low of $132.85. This fall was mainly due to panic over the ADP Private Sector Employment numbers which came in sharply lower than estimates. In addition, the ISM Index for May came in at 53....
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Financial Stocks Lead The Decline
Wednesday, June 1, 2011 - 10:24am | 273The major financial institutions have been holding steady over the past week, however, this morning, the large financial stocks are leading the major stock indexes lower. When the major financial stocks decline it will certainly put a lot of pressure on the S&P 500 Index. The financial sector...
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News Summary for May 1, 2011
Wednesday, June 1, 2011 - 9:51am | 435This is your Benzinga news summary and trader's outlook for Wednesday, June 1, 2011, covering overnight and Wednesday's pre-market session. Today in domestic pre-market trading, U.S. equity futures are showing slight losses morning after the ADP employment data failed to meet analysts'...