Two Ways: Bank Bailout Plot Thickens-Minyanville

Two Ways: Bank Bailout Plot Thickens

Terry Woo Feb 09, 2009 8:30 am


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Timing is Everything

Treasury Secretary Timothy Geithner has postponed an announcement of a baillout of financial-services companies until Tuesday. The reason for the delay is simple: Keep the focus on the Obama administration's stimulus package and work out the details of a plan in which the private sector funds an aggregator bank. The goal, according to the New York Times, is to reduce the dependency on the federal government and allay concerns that taxpayers will shoulder the brunt of the costs. For additional context, see Kevin Depew’s Five Things: Taxpayers Screwed Again; Nation Shrugs.

From the Bull Pen: The bull argument is that a pullback is healthy. Bulls can look to Apple (AAPL) for a trade. One can set an initial position here with a sell stop below $96.

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From the Bear Cave: Bears can consider Caterpillar (CAT) for a downside play. The stock is approaching $35, where it broke down in January. One can set an initial position there with a buy stop above that level.

Quick Check Around the World

Asian trading closed with the Hang Seng 0.84%, Nikkei -1.33%, Sensex 3.04%, Taiwan 0.52% and Shanghai 1.99%.

Glancing towards Europe, we see the CAC -0.73%, DAX -0.62%, FTSE -0.37%

As of 8:05 a.m. EST, S&P futures are trading -8 to 860.00, and Nasdaq futures are -6 to 1270.00.

A Look At Commodities

Crude oil is trading +0.57 to 40.74. Gold is -10.3 to 904.00. Silver is -0.16 to 13.000, and copper -1.45 to 161.40.

The dollar index is -0.4550 to 85.1900.

No events today, but click here to see this week’s full trading radar.

Happy Monday! Good luck!

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