Tuesday, November 13, 2007
.....and down some more......
The markets started well yesterday but began to fade late in the day as as the bears maintained control of the markets. The Dow closed the session with a loss of 55.19 points to 13,987.55. The SPX gave up 14.52 points to finish the session at 1,439.18. I can't remember a time when we were so far in the green!!!
Anyway more bad news out today about subprime etc.....its getting boring!
E Trade Financial (ETFC) were in trouble losing 50% of their share price. Apparently they are on the verge of bankruptcy if you believe what you read in the news. If so a bear credit spread on that stock might yield some nice profits.
Oil prices fell on the session closing at $94.62 a barrel, down $1.70. News that OPEC would look at raising production at their December 5 meeting provided a reason to sell the oil. However, there are concerns that production might not be able to increase, as most producers are at their max.
Until next time.
Anyway more bad news out today about subprime etc.....its getting boring!
E Trade Financial (ETFC) were in trouble losing 50% of their share price. Apparently they are on the verge of bankruptcy if you believe what you read in the news. If so a bear credit spread on that stock might yield some nice profits.
Oil prices fell on the session closing at $94.62 a barrel, down $1.70. News that OPEC would look at raising production at their December 5 meeting provided a reason to sell the oil. However, there are concerns that production might not be able to increase, as most producers are at their max.
Until next time.
# posted by Paul @ 6:15 AM 
