Toddo on TV: Trading in An Emotional Market
Markets, movers and more.
July has seen a nice rally from its lows. Toddo explains how that window could be closing, but the trend is still in tact. The concern stems from the credit market - mainly Fannie Mae (FNM) and Freddie Mac (FRE), which need to refininace billions of dollars of debt. Financials, such as Merrill Lynch (MER), remain tough, crowded trades.
Toddo is thinking that, in the long-term, the credit crunch will continue and he'll remain in cash. But short-term trades still abound and he's looking at stocks as they trade relative to the market. On Friday, for example, stocks like Research in Motion (RIMM) and Wachovia (WB) couldn't catch a bid on an up day.
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