Toddo on TV: Acting Proactively
Markets, movers and more.
On the Buzz & Banter, we're talking about the danger of being reactive to this market. With the Dow up 700+ points, it may be wise to act proactively. The head Minyan waqs selling exposure into this rally, getting back towards neutral. What's on Todd's list of things to watch? The Japanese Yen (FXY), gold and BHP Billiton (BHP).
Todd is also watching the homebuilders, particularly if the nationalization process enters into this sector. Also, strangely absent from the big rally was General Electric (GE) and JP Morgan (JPM). Keep your eyes open.
What's behind the big bounce in the Dow? It could be the settlement of Lehman's Credit Default Swaps. Also, the bond markets were closed. The important thing is to remember the four time horizons in trading: nuances, trends, phases and cycles.
Hank Paulson met with some major bank CEOs today as the government is considering buying equity stakes in some. Toddo thinks common stockholders should be given the right to buy into that equity. If that isn't the case, it will be diluted.
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