A recent and swift 200% move in AIG has taken the stock to over $50. Premiums in options in highly inflated, making a protective put buying strategy even more pricey, but still worth it!
This rally will most likely conclude this coming week, watch for a blow off volume as the signal, but remember, you do not want to be standing in front of any freight trains!
For further discussion on AIG visit the stock market message boards at hotstockmarket.com.
While we are due for some downside, the trend is generally higher heading into Q3.
http://www.prlog.org/10275554-penny-stocks-and-market-sentiment-on-hotstockmarketcom.html
We usually see an increase in risk towards the top of a market, on this regard, there is most likely an increase in activity around penny stock forums like those at the small cap section of hotstockmarket.com.
One recent mover that has garnered some attention is SPNG which has been selling those car wash sponges you see advertised all over late night tv. These stratospheric moves in penny stocks like these could be signalling that risk appetite is back, albeit slightly late as we are most likely heading down for a week or two in the broader markets.
MBIA Inc Reinsuring $184B portfolio of investment-grade US public finance credits insured by Financial Guaranty Insurance Company, receiving unearned upfront premiums of about $741M
- The public finance portfolio consists exclusively of investment grade credits, primarily in the general obligation, water and sewer, tax-backed and transportation sectors, and does not contain any credit default swap contracts, below investment grade credits or other credits inconsistent with MBIA’s credit underwriting standards.
- The reinsurance will be provided on a “cut-through” basis, enabling FGIC’s policyholders to receive the benefit of MBIA’s reinsurance by allowing them to present claims directly to MBIA.
On July 11th FNM hit $6.68 on a big sell off. After an impressive rebound, investors are now realizing that nothing has really changed. In fact, Barrons came out with an article telling it as the shorters have already known for some time, should FNM and FRE get a bail out, it would most likely wipe out the share holders.
Freddie still holding above its July lows, but this weakness in financials will extend into the rest of the week.
More on these stocks at the Stock Market Message Boards at HSM.
LDK is up 20% to$40 in after hour trading after reporting better than expected earnings.
After some good earnings, but lower guidance for Q4, the stock took a deep dive into the $140 range. The rebound is suprising in its strength, but resistance in the $165 level will cap this run. Watch for a test of support in the next two to three trading sessions.
Finally some action for ETFC shareholders with a move to test the recent highs.
$4.35 is the May high it need to break.
Stocks hitting new 52wk highs worth noting:
VISN, ISYS, BWEN, CRZO, AXYS, OTTR, CWEI
Stocks making new highs are worth noting for possible short term trades to higher levels.
You can now buy a basket of the top 25 solar stocks in the new ETF aptly named TAN. More information on this new solar ETF here http://www.claymore.com/TAN/
Top Fund Holdings as of 4/15/08
Name Weighting
FIRST SOLAR INC 8.96 %
RENEWABLE ENERGY CORP AS 7.80 %
Q-CELLS AG 6.49 %
SUNTECH POWER HOLDINGS ADR 6.08 %
JA SOLAR HOLDINGS CO LTD 5.30 %
SOLARWORLD AG 5.24 %
