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Two Ways To Play: Buy, Buy Miss Lehman's Pie


Strengthen your portfolio in good times and bad.

Lehman Gets a Lift

Stock futures are getting a boost this morning. Reuters reports State-run Korea Development Bank said on Friday that it may buy Lehman Brothers (LEH). A KDB spokesperson said the bank is "studying a number of options and are open to all possibilities, which include (buying) Lehman."

A potential deal would still have to clear legal and regulatory hurdles. Lehman shares are up 14% this morning to $15.70. Todd mentioned Lehman yesterday on Todd on TV: Bullseye on Lehman Brothers' Back.

From the Bull Pen: Does this announcement clear the way to S&P 1330-1350? Bulls can use the depository receipts (SPY), sell-stops can be set below yesterday's close ($127.80).

From the Bear Cave: This rally may simply present another opportunity for the bears. Fading (read: buy) the Ultrashort financials (SKF) which represent twice the inverse of the D.J. financials index, as it approaches $100 may be an option.

Verizon n' Google?

The Wall Street Journal reports Verizon (VZ) may be nearing an agreement with Google (GOOG) to make the Internet-search giant the default search provider on Verizon's devices. The move is seen as an effort to simply the number of search options for cellphone users with both parties planning to split revenue from ads resulting from the search functions. The deal isn't final though with both sides still negotiating key issues such as Google's desire to save information from user cellphone searches. People familiar with the matter expect them to conclude the discussions within the next few weeks.

From the Bull Pen: Will Google attempt to recapture its 200 DMA ($555)? Bulls can play the upside with sell-stops below $480.

From the Bear Cave: Bears recognize that the longer term trend line for Verizon is down. A rally back to $36 could have bears initiating a downside position. Buy-stops can be set above that level.

For more ideas in real time throughout the trading day, check out Minyanville's Buzz & Banter.

Quick Check Around the World

Asian trading closed with the Nikkei -0.68%, Sensex +1.11%, Taiwan -0.10% and Shanghai -1.09%.

A quick check across the pond finds the CAC +1.36%, DAX +1.23%, FTSE +1.66%

As of 8:20 AM EST, S&P Futures are up +8.50 points to 1284, and Nasdaq Futures are higher +12 points to 1919.

A Look At Commodities

Commodities are lower. Crude oil is down -1.14 to 120.07. Gold is down -4.30 to 828.70. Silver is off -0.265 to 13.535, but copper is up +15.10 to 356.10.

The dollar index is higher +0.443 to 76.633.

No events on the radar today. Have a strong finish! Good luck and have a great weekend!
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Position in SPY

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