Like yesterday, bears had control for the first 15 minutes of trading this morning. And similarly, as the market began to bounce around 9:45, rumors began circulating on a handful of stocks. The focus of rumors continues to be takeovers, and while many rumors circulate and the validity of the source of these rumors can be questionable, the speculation may increase volatility in the near term. Today's biggest mover so far has been Biomarin Pharma (BMRN 17.08 +0.64), it is up ~$0.60 (4%) on a rumor that Genzyme (GENZ 53.39 -0.41) was interested in buying BMRN for $28/share. We note the two companies already have a joint venture to develop and market Aldurazyme... Time Warner Cable (TWC 39.58 +0.31)ticked higher as a Comcast (CMCSA 16.96 +0.11)-for-Time Warner Cable rumor made the rounds, which stems from this morning's Citigroup comments which suggested the two should merge... Lastly, talk that Warren Buffet would increase his stake in USG Corp (USG 15.15 +0.45) sent that stock higher. Warren Buffet currently holds roughly 17 mln shares of USG (according to the latest June 30th filing), and we'd note that short interest is high at 15% of USG's float, which can add to momentum.
US Treasury's Geithner says shifting strategy from rescuing economy to preparing for future growth - Reuters Says must wind down some of the extraordinary support put in place for financial system. Extent of damage means recovery to be gradual but economy now 'back from the brink.' Unlikely to need more bank bailout money so pulling a contingency provision out of budget.
White House says stimulus package added roughly 2.3 pct points to real U.S. GDP growth in Q2, likely to add more in Q3 - Reuters Ja turg üha uutesse tippudesse:)
S&P500 indeks puudutas ka augustikuu lõpus tehtud viimase 11 kuu tipu 1039 ära. Tänane püsiv ostusurve meenutab üha enam ja enam märtsis nähtud püsivat müügisurvet. Kauplejatele võib selline olukord ju meeldida, pikaajalistele investoritele tõenäoliselt mitte, sest kõrgele tõusnud aktsiahinnad jätavad järgi väga vähe aktsiaid, millesse uusi atraktiivseid investeeringuid mõistliku hinnataseme pealt veel teha saab.
urm, NYMEXil on maagaasi hind ainuüksi tänase päevaga ca 15% tõusnud ning see on saatnud ka UNG lendu. Maagaasi hinnaliikumine on oluliselt volatiilsem nafta omast, seda olen korduvalt rõhutanud ning just seetõttu sobib UNG instrument lühiajaliseks kauplemiseks, kuigi preemial NAVi suhtes tasuks silm teraselt peal hoida. Pikaajaliseks investeerimiseks, nagu ikka, aga maagaasiettevõtted nagu näiteks meie valik CHK. Maagaasi tänase hinnaralli põhjuseks oli oodatust veidi väiksem varude kasv ning lühikeste positsioonide paaniline katmine.