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Two Ways: One Step Closer to Stimulus

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Strengthen your portfolio in good times and bad.

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Repbublicans Get On Board

The Senate voted yesterday to expand the economic stimulus package with a tax credit for homeowners of up to $15,000. According to the New York Times, the provision is championed by Republicans who view the housing crisis as one of the root causes of the recession.

With this addition, which will cost approximately $18.5 billion, the Senate appears to be close to completing its negotiations. Majority Leader Harry Reid suggested that a final vote could come as soon as today. For more, see Toddo's The Precipice of Change.

From the Bull Pen: The faster this bill gets passed, the faster investors will get a sense of clarity. Consider Verizon (VZ) for a trade. One option is to enter a position as it falls toward $30. A sell stop can be placed near $29. But beware of a gloomy jobs report tomorrow morning.

From the Bear Cave: Is the dollar's rally coming to an end? Bears can play the Bearish Dollar ETF (UDN); a sell stop can be set near $24.50.

Quick Check Around the World

Asian trading closed with the Hang Seng 0.88%, Nikkei 1.11%, Sensex -1.21%, Taiwan -0.61% and Shanghai -0.46%.

Glancing towards Europe, we see the CAC -1.23%, DAX -0.81%, FTSE -0.71%,

As of 8:00 a.m. EST, S&P futures are trading -6 to 824.00, and Nasdaq futures are -20 to 1194.00.

A Look At Commodities

Crude oil is trading +0.18 to 40.50. Gold is +16.2 to 918.40. Silver is +0.33 to 12.800, and copper +0.10 to 153.20.

The dollar index is -0.0500 to 86.0250.

On the Radar

Economics

08:30 Nonfarm Productivity 1.0%
08:30 Unit Labor Costs 3.0%
08:30 Initial Jobless Claims
08:30 Continuing Claims
10:00 Factory Orders -3.0%

Click here for the full trading radar.

Thirsty Thursdays! Woohoo! Good luck!

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No positions in stocks mentioned.

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.

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