CIT Names John Thain CEO
Airtime: Mon. Feb. 8 2010 | 6:02 AM ET
Former Merrill Lynch CEO John Thain has been given the top job at CIT. Andrew Ross Sorkin, of the NY Times, and the CNBC news team discuss.
Airtime: Mon. Feb. 8 2010 | 6:02 AM ET
Former Merrill Lynch CEO John Thain has been given the top job at CIT. Andrew Ross Sorkin, of the NY Times, and the CNBC news team discuss.
Cloud computing drives massive growth for big U.S. tech firms SAN FRANCISCO (Reuters) – Amazon.com Inc (AMZN.O), Microsoft Corp (MSFT.O), Alphabet Corp’s (GOOGL.O) Google and Intel Corp (INTC.O) are all putting their chips on the cloud computing business, and it is booming. All four companies posted stellar quarterly earnings on Thursday, showing the strength of…
December 2010 Stock Market Commentary: The major averages surged in December and enjoyed double digit gains in 2010. Furthermore, the 18-week rally which was confirmed on the September 1, 2010 follow-through day (FTD) remains intact which is a healthy sign for 2011. Background: Before we address the current market outlook, it is important to step…
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Insight on the bearish options bets that initially sparked the thousand point decline on the Dow, with Nassim Taleb, “The Black Swan” author.
As we know, the major averages topped out in October 2007 and then proceeded to precipitously plunge until they put in a near-term bottom in early March 2009. Since then, the market snapped back and enjoyed hefty gains which helped send the major averages to one of their strongest 15-month rallies in history. The small cap Russell 2000 Index was the standout winner, surging a whopping +117%. The tech-heavy Nasdaq Composite is a close second, having vaulted +100%, before reaching its interim high of 2,535 on April 26, 2010. The benchmark S&P 500 Index raced +83% higher before hitting its near term high of 1,219 on April 26, 2010, and the Dow Jones Industrial Average soared +74% before printing its near-term high of 11,258 on April 26, 2010. This data indicates that Monday, April 26, 2010 appeared to be a very important day for the market because that is the day that most of the popular averages printed their near-term highs and negatively reversed by closing lower from new high territory.
In addition, after such hefty moves, a 10-15% pullback, if the indices can prove resilient enough to hold their ground near current levels, would be quite normal before the bulls return and send this market higher. However, if the 2010 lows are further breached, then odds will favor that even lower prices will follow. Furthermore, the downward sloping 50 DMA line is on track to undercut the longer term 200 DMA line which is not a healthy sign. Recall we are now waiting for a new follow-through day (FTD) to emerge before the window opens to proactively begin buying high quality breakouts meeting the investment system guidelines again. Trade accordingly. Never argue with the tape, and always keep your losses small.
The following was from my twitter feed (to get live access, simply follow @adamsarhan) on 12.29.2011 1. @adamsarhan One of the strongest correlations remains: S&P500/ $XLF (financials ETF) = +97.5%! 2. @adamsarhan Another very strong correlation is SP500/Crude Oil= +95.2%! 3. @adamsarhan However: Euro/Gold correlation remains very strong at nearly +90% 4. @adamsarhan SP 500/Gold correlation has…