Two Ways to Play: Barclays on the Prowl
Strengthen your portfolio in good times and bad.
Headlines from Barclays (BCS) may be giving a slight boost to sentiment this morning. In a story by the Wall Street Journal, the British bank is said to be on the prowl for another major acquisition in the US even after buying up Lehman Brothers Holding's North American operations at the height of the financial crisis.
No deal is imminent yet and the bank is simply searching for targets. But according to Briefing.com, some analysts are already speculating large regional lenders like SunTrust Banks (STI), Fifth Third Bancorp (FITB), and Comerica (CMA) as potential targets.
From the Bull Pen: SunTrust coiling underneath $26 resistance may be an opportunity. A tight sell stop can be set below $25. Also keep an eye on Bank of America (BAC). For the passive investor, one can set a small initial position here, with a sell stop below $16.
From the Bear Cave: Bears can look to General Electric (GE) with stiff resistance at $17. A buy stop can be set above that level.
For more ways to play and other trading ideas from more than 30 top market pros, take a free trial to our Buzz & Banter.
A Quick Check Around the World
Asian trading closed with the Nikkei -0.04%, India 0.27%, Hang Seng 0.01%, Shanghai -0.66%, and Taiwan 0.11%.
Across the pond, we see the FTSE 0.08%, DAX 0.25%, CAC 0.32%
As of 8:20 AM EST, S&P Futures are trading +0.750 to 1141.25. Nasdaq futures are +3.750 to 1905.00.
A Look at Commodities
Over in commodities, crude oil is +0.28 to 81.76 while gold is +3.800 to 1125.90 this morning. Silver is +0.092 to 17.430 and copper +0.0145 to 3.4245.
The dollar Index is +0.0400 to 80.6450.
On the Radar
10:00 Wholesale Inventories 0.2% cons.
10:30 Crude Inventories
02:00 Treasury Budget -$202.0b
Click here for the full trading radar.
Happy Hump Day! Good luck!
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