Two Ways To Play: Pimp My Tax Cuts
Strengthen your portfolio in good times and bad.
Obama To Cut Taxes
President-Elect Barack Obama and congressional Democrats are planning to offer individuals and businesses about $300 billion in tax cuts. According to the Wall Street Journal, the move is aimed at attracting support from Republicans for his economic stimulus plan.
Details of the cuts aren't yet available, but the number could reach $775 billion over the next 2 years - possibly packing more punch than either of President George W. Bush's tax cuts.
See Professor Kevin Depew's Five Themes You Need To Know for 2009.
From the Bull Pen: Bulls can consider uptrending stocks like Amazon (AMZN), which caught an upgrade this morning from JPMorgan. Is the stock headed to $60? Sell stops can be set near $52-$53.
From the Bear Cave: Bears can consider Electronic Arts (ERTS), which is nearing gap fill around $19.40. One can enter a downside position if and when it reaches that level with a buy stop above.
Quick Check Around the World
Asian trading closed with the Hang Seng 3.46%, Nikkei 2.07%, Sensex 3.19%, Taiwan 2.33% and Shanghai 3.29%.
Glancing towards Europe, we see the CAC 0.07%, DAX 0.34%, FTSE 0.22%.
As of 8:00 a.m. EST, S&P futures are trading -3.40 to 931.80, and Nasdaq futures are +3.00 to 1263.70.
A Look At Commodities
Crude oil is trading +0.05 to 46.39. Gold is -24.80 to 854.70. Silver is -0.46 to 11.025, and copper is -4.10 to 142.00.
The dollar index is +1.28 to 84.0850.
On the Radar
10:00 Construction Spending -1.3%
Click here for the full trading radar.
Welcome back and have a great day!
Actionable ideas, instant analysis. Real-time from bell to bell.
Minyanville's Buzz & Banter - 14 day FREE trial
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.
Copyright 2011 Minyanville Media, Inc. All Rights Reserved.
Daily Recap Newsletter