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Brian Moynihan - Staying the Course
Tuesday, August 9, 2011 - 4:39pm | 134If at first you don't succeed, repeat yourself. During an interview with CNBC this afternoon, Bank of America (NYSE: BAC) CEO Brian Moynihan made it clear that the company is going to "keep doing what we've been doing for the last 18 months." Moynihan, who insisted that Bank of America has a "...
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FOMC Decision Today 08-09-2011
Tuesday, August 9, 2011 - 3:19pm | 1001Cusick's Corner Top stories -- London burning and market bouncing into the Fed announcement. While I would not aggressively chase long trades, intraday scalping has been solid, but look to get flat in front of the Fed. The shorts will be lurking, waiting for any catalyst to the downside, on the...
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Tuesday's Mid-Day Options Volume Leaders
Tuesday, August 9, 2011 - 12:42pm | 84Here are today's mid-day options volume leaders… 1. Bank of America (NYSE: BAC) 344,930 contracts, 49.8% calls, 50.2% puts 2. Citigroup Inc. (NYSE: C) 244,700 contracts, 46.8% calls, 53.2% puts 3. Apple Inc. (NASDAQ: AAPL) 195,542 contracts, 60.9% calls, 39.1% puts 4. Microsoft Corp. (NASDAQ: MSFT...
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Does The Bernank Have Another Trick Up His Sleeve?
Tuesday, August 9, 2011 - 11:02am | 241All eyes will be on the Federal Reserve Bank Chairman Ben Bernanke this afternoon as the central bank holds their FOMC meeting. The Bernank now holds a press conference where he will take questions from reporters. Every investor is now waiting to see if the Fed boss will talk about a possible QE-3...
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Mad Money Lightning Round: Cramer Likes CNH Global
Tuesday, August 9, 2011 - 4:09am | 181On CNBC's Mad Money, Jim Cramer said during the Lightning Round that CNH Global (NYSE: CNH) is a “bullish agricultural play and I say OK." For Bank of America (NYSE: BAC), he said, "I don't like the financials. It doesn't matter which one you mention, I don't like any of them." Cramer said that...
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Fed Watch 08-08-2011
Monday, August 8, 2011 - 7:14pm | 979Cusick Corner All eyes will be on the Fed tomorrow, their language will be scrutinized and traders will be on edge. I got a question about what may be a signal that the equities may be potentially firming up and potentially bounce - look at commodities like Copper, JJC, Lumber, LBU11, and Cotton,...
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Benzinga's Top ETF Decliners, August 8th (RUSL, FAS, DRN, ERX)
Monday, August 8, 2011 - 5:38pm | 200Direxion Daily Russia Bull 3x Shares (NYSE: RUSL) led the decliners among the ETFs on Monday, with a decline of 33.54%. RUSL closed at $23.01, and it had a volume of 101K traded shares. Direxion Daily Financial Bull 3X Shares(ETF) (NYSE: FAS) dropped 27.64%, and closed at $12.46. Bank of America...
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Benzinga's Top ETF Gainers, August 8th (TVIX, FAZ, DRV, TZA)
Monday, August 8, 2011 - 5:23pm | 206VelocityShares Daily 2x VIX Short Term ETN (NYSE: TVIX) traded 28.59% higher on Monday. This was the fifth trading session in a row that TVIX closed in the positive territory. Direxion Daily Financial Bear 3X Shares(ETF) (NYSE: FAZ) spiked 27.84%, and closed at $79.73 today. In the space, Bank of...
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Zings Of The Day, August 8, 2011
Monday, August 8, 2011 - 3:59pm | 171The U.S. Treasury pointed out a $2 trillion mistake that S&P made in assessing the U.S. credit, and ultimately downgrading it to AA+. Glad to see none of these guys passed basic arithmetic and they are rating government debt. 45,000 workers at Verizon Communications (NYSE: VZ) went on strike...
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As Oversold As We Have Seen It
Monday, August 8, 2011 - 3:54pm | 399There is nothing but selling taking place at this time. Stocks are being sold with a vengeance. This tells us that there are a few large financial institutions that have been caught on the wrong side of this market. In the past, when a major hedge fund or prop desk was under water on a position the...
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Tech Stocks Tank on Economic Crisis, S&P Downgrade
Monday, August 8, 2011 - 3:37pm | 831I'll bet Facebook and Zynga are glad they haven't gone public yet. LinkedIn (NYSE: LNKD) is among the many tech companies taking significant losses following today's unparalleled crisis. As of this writing, the popular social networking has been hit by an 18% decline. Granted, LinkedIn was...
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Monday's Mid-Day Options Volume Leaders
Monday, August 8, 2011 - 1:06pm | 85Here are today's mid-day options volume leaders… 1. Bank of America (NYSE: BAC) 293,912 contracts, 36.9% calls, 63.1% puts 2. Apple Inc. (NASDAQ: AAPL) 147,081 contracts, 65.3% calls, 34.7% puts 3. JP Morgan Chase (NYSE: JPM) 92,672 contracts, 41.8% calls, 58.2% puts 4. Citigroup Inc. (NYSE: C)...
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Why Does Brian Moynihan Still Have A Job?
Monday, August 8, 2011 - 12:57pm | 349Excuse me, institutional shareholders, how are you feeling about your Bank of America (NYSE: BAC) position? When you bought in, you probably thought you were getting a nice bargain, right? The stock has been trading significantly below book value for a very long time. Heck, the smartest hedge fund...
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An Early Obituary for the Stock Market
Monday, August 8, 2011 - 12:18pm | 810By Peter Prudden It is with great regret and sadness that we announce the passing of the US stock market today. After suffering a horrific credit crash in 2008, the monetary life support initiated by the federal government was unable to properly restore the health of the patient. The market...
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Great Depression 2.0: You've Got Nothing
Monday, August 8, 2011 - 12:02pm | 769What was a recession is now starting to look like a full blown depression. Bank of America (NYSE: BAC) is being sued by AIG (NYSE: AIG) for $10 billion. This is both ironic, hilarious and depressing, as AIG nearly caused the financial crisis in 2008, and could lead to starting another with this...