The WSM Stock Newsletter
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By Stock Charts | November 12, 2008 | No Comments »
Short sellers are still betting that financial shares will fall but they have boldly moved into shares of companies which are considered healthy, those with both good balance sheets and relatively strong earnings prospects.Data is as of the end of October.
The short interest in AIG (AIG) rose 44% to 135.7 million shares. Short interest in Citigroup (C) rose 18% to 138 million. Shares short in Morgan Stanley (MS) were up 85% to 44 million. Shares short in Well Fargo (WFC) jumped 14% to 151.4 million. The short interest in American Express (AXP) rose 37% to 30.3 million.
“Safe” companies were also attacked by short sellers. Shares short in P&G (PG) rose 39% to 46.3 million. The short interest in GE (GE) rose 18% to 79.8 million. Shares short in AT&T (T) rose 30% to 41 million. The short interest n Caterpillar (CAT) was up 31% to 26.7 million.Short interest in Exxon (XOM) rose 18% to 39.5 million. Shares short in Microsoft (MSFT) rose 20% to 82.8 million. Shares short in Oracle (ORCL) were up 37% to 43.6 million. Short interest in Cisco CSCO) rose 9% to 61.4 million. Shares short in Apple (AAPL) moved up 16% to 28.1 million
Short sellers were willing to make huge bets against companies in deep financial trouble. Shares short in Qwest (Q) rose 24% to 70.7 million. The short position in Ford (F) was up 4% to 305.2 million. Shares sold short in GM (GM) rose 10% to 102.6 million. The short interest in Motorola (MOT) was up 29% to 40 million. Shares short in Nortel (NT) were up 28% to 40.7 million. Short interest in Sirius (SIRI) moved up 23% to 285.2 million.
Data from NYSE and NASDAQ.
By Stock Charts | November 6, 2008 | No Comments »
For millions of people, payday loans are a fast and convenient way to cover unexpected expenses such as car repair and medical bills. A payday loan can even save you money by helping you avoid bounced checks and late fees on bills.
But payday loans arenâ€™t always the best solution for your financial needs. To help you determine whether a payday loan is right for you, you need to consider how youâ€™re planning to use it, how urgent your need is, and what your other options are. Payday loans can be expensive, so you should only use them after youâ€™ve considered the facts and decided that itâ€™s your best option. Read the rest of this entry »
By Stock Charts | October 13, 2008 | No Comments »
Check out this hilarious bit of graffiti:
Thankfully the markets have finally stopped their 8 day losing streak!
By Stock Charts | October 9, 2008 | No Comments »
Just to put the recent market meltdown in a little perspective:
The market’s been a bloodbath recently, hopefully everyone’s doing okay!
By Stock Charts | October 3, 2008 | No Comments »
After Congress unexpectedly prevented the bailout bill from passing last week, the Dow shed 700 points. In what could be a grim omen of things to come, today’s passage of a revised bill did not assuage investors, with the Dow falling 157 points and the other major indexes taking major losses after an early rally in the morning. It’s a rough time to be an investor.
By Stock Charts | September 26, 2008 | 1 Comment »
RIMM was hammered today after earnings guidance failed to appease wall street. 2Q earnings were up 72%, but failed to meet analyst expectations. Research in Motion is gearing up to launch a new product, Blackberry Bold in overseas markets and eventually in the United States, which is eating in short term profits.
I sold my shares of RIMM a few weeks ago, and luckily avoided the knife. I feel that RIMM will face stiff competition from the iPhone in the consumer space, and possibly even Google’s new android phone. I’d expect a bit of a bounce depending on the market, but in the middle to long run the Blackberry may face some rougher waters.
By Stock Charts | September 24, 2008 | 1 Comment »
Buffett’s Berkshire Hathaway Inc. said Tuesday it will invest at least $5 billion in Goldman Sachs Group Inc., a huge vote of confidence for one of the survivors of the credit crisis that felled two of its investment banking peers.
It may be just the shot in the arm that shares needed. Wall Street appeared headed for a higher opening Wednesday, though credit markets remained uncertain about the government’s $700 billion bailout plan for banks.
In addition to buying $5 billion in preferred stock, Berkshire also got warrants to buy another $5 billion in Goldman’s common stock. Goldman also said late Tuesday it would raise another $2.5 billion in its own public stock offering.
Buffett, one of the most successful investors in history, did not mention what is happening in Washington, but he did heap praise on the New York-based firm.
“Goldman Sachs is an exceptional institution,” the chairman and CEO of Berkshire Hathaway said in a news release. “It has an unrivaled global franchise, a proven and deep management team and the intellectual and financial capital to continue its track record of outperformance.”
It will be Buffett’s second major foray into Wall Street.
By Stock Charts | September 23, 2008 | No Comments »
ABC News reports:
In 2007, Wall Streetâ€™s five biggest firms â€” Bear Stearns, Goldman Sachs, Lehman Brothers, Merrill Lynch, and Morgan Stanley â€” paid a record $39 billion in bonuses to themselves.
Thatâ€™s $10 billion more than the $29 billion loan taxpayers are making to J.P. Morgan to save Bear Stearns.
Those 2007 bonuses were paid even though the shareholders in those firms last year collectively lost about $74 billion in stock declines â€” their worst year since 2002.
These company executives are still fiercely fighting to protect their pay. Politico notes that the Bush Treasury Department is â€œresisting effortsâ€ by House Democrats â€œto impose pay limits on Wall Street executives and bankers.â€
By Stock Charts | September 2, 2008 | 1 Comment »
Â Esterline Tech made a pretty big move on Friday, with an ascending triangle breakout. Looks like the stock could go as high as ~62 before it reaches resistance. Keep an eye on this one.
By Stock Charts | September 2, 2008 | No Comments »
Last friday PetSmart (PETM) broke triangle resistance on heavy volume. The company reported 2Q EPS ahead of estimates. In addition, posted higher than planned same store sales growth. The stock’s chart looks bullish, and it moved up higher today in a bearish market. Here’s the stock chart: