Options traders have descended on the smart phone sector Tuesday, with heavy activity in Research in Motion, Nokia and Palm, following poor earnings by the latter, and news of an introduction of Nokia’s entrée into this market. Research in Motion’s options were the most actively traded. The stock was getting hit, down 7.5% after Palm reported less-than-stellar results for its most r...
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From the WSJ:Grim economic data Monday showed more pain for U.S. manufacturing and construction.The Institute for Supply Management, a key measure of U.S. manufacturing activity, said its overall index for last month moved to 36.2 from 38.9 in October and 43.5 in September. November's reading was the weakest since May 1982.Cliff Waldman, an economist for the Manufacturers Alliance/MAPI trade gr...
View SEC Filings View Insider Trading View Annual Reports Consolidated-Tomoka Land Co. (AMEX: CTO) directors may face some competition at the company’s next annual meeting. Wintergreen Advisors, which owns a 25% stake in the firm, made several proposals aimed at improving corporate transparency and generating shareholder value in a regulatory filing with the Securities and Exchange Commission....
Dr. James Schlesinger says the U.S. attitude towards oil “has only two modes – complacency and panic.” Schlesinger should know. In the 70’s he closely watched the Middle East as the U.S. Secretary of Defense. Then he would move onto become the first U.S. Secretary of Energy when oil prices were really starting to move up during the Carter Administration. He was in the th...
It looks like yesterday's market gobbled up the gains of the Thanksgiving rally. It was to be expected since the Monday following Black Friday is historically a down day. (See my previous article, “The Turkey Effect,” for further details.) Last week's rally sparked hope of a market bottom; I, however, do not share that hope as evidenced by the following charts of the the VIX and the...
Markets pulled their socks up last week, with global equities putting some distance between the November lows and Friday’s close. The FTSE 100 enjoyed a 13% weekly gain, while the Dow, S&P500 and Nasdaq are up 17.1%, 19.9% and 18.3% from the November lows respectively. The week started well with traders liking what they saw in the massive bailout of Citigroup (C). The US government ef...
So I’m on this mailing list for quants at Wilmott. The folks at Wilmott are interested in personality types working in quantitative finance. I took the test. It was spot on for me. I’m considered “rational”. There are subtypes. Here is my subtype. The description does contain a lot of puffery designed to boost your self esteem. They don’t mention any nasty famous p...
Mr Bernanke has admitted that he was wrong about the effects of loose mortgage lending on the economy. He is going to have to eat these words, too: Federal Reserve chairman Ben Bernanke said Monday the current economic situation bears “no comparison” to the much deeper crisis of the 1930s Great Depression. “Well, you hear a lot [...]
This is how I feel right now. Waiting for the antibiotics to take effect. Light posting until the swelling and throbbing subside.A guy with a toothache goes to see his dentist. After examining the tooth, the dentist tells the patient he is going to have to give him an injection for the pain. The patient says, "No way! I don't want an injection." The dentist replies, "OK, I'll give you gas." "No...
Therese Poletti's Tech Tales: Icahn seems to think Yahoo shares can get back to $20
Tue, Dec 2, 12:01 AM ET
Carl Icahn is effectively doubling down on his massive bet on Yahoo Inc., but the gambit will only work if the battered stock can get back to the $20 range.