Two Ways To Play: The Era of Big Government Isn't Over
Strengthen your portfolio in good times and bad.
Economic Drama Obama
Family incomes will fall, the unemployment rate could surpass 10% and the country risks losing a "generation of potential and promise" - unless the government takes immediate steps to revive the economy.
According to Bloomberg, President-Elect Obama will make remarks to this effect during a speech in Virginia this morning. Obama acknowledges his plan to shore up the economy will add to a deficit already projected to exceed $1 trillion, but maintains that "only government can provide the short-term boost necessary to lift us from a recession this deep and severe."
See Professor Kevin Depew's take in yesterday's Five Things You Need To Know: "Economists" Embrace Government Spending.
From the Bull Pen: Yesterday's action was a needed break for bulls. One can consider Wells Fargo (WFC) for a play. A sell stop can be set below $25.
From the Bear Cave: Consumer confidence has clearly been damaged. One can consider Allegiant Travel Company (ALGT). Is the stock headed to the $35 strike? A buy stop can be set near $42-$43.
Quick Check Around the World
Asian trading closed with the Hang Seng -3.81%, Nikkei -3.93%, Taiwan -5.30% and Shanghai -2.38%.
Glancing towards Europe, we see the CAC -1.86%, DAX -1.67%, FTSE -1.80%
As of 8:20 a.m. EST, S&P futures are trading -12 to 893.00, and Nasdaq futures are -10 to 1229.00.
A Look At Commodities
Crude oil is trading -0.07 to 42.56. Gold is +3.00 to 844.70. Silver is -0.20 to 10.905, and copper is -4.85 to 146.30.
The dollar index is -0.270 to 82.8450.
On the Radar
08:30 Initial Jobless Claims
08:30 Continuing Claims
04:00 Consumer Credit
Click here for the full trading radar.
Good luck and have a great day!
Actionable ideas, instant analysis. Real-time from bell to bell.
Minyanville's Buzz & Banter - 14 day FREE trial
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.
Copyright 2011 Minyanville Media, Inc. All Rights Reserved.
Daily Recap Newsletter