Flattish Open
- Posted by UpsideTrader
- on May 28th, 2009
buy and holder
Waking from a long nap, Dino the buy and holder rushes through traffic to his Merrill broker astonished that his GM stock was basically worthless. His Citibank stock is gone because he was in negative equity and it had been sold by his broker while he slumbered.
The 30 year fixed rate mortgage has bumped up to about 5,50% as institutions pound the bond market. Oil tags $64 and is at its highest level since November. OPEC has decided to leave prices alone.
Just saw that Chenault, CEO of American Express made $38 million last year. If I was a shareholder I’d be pissed. Richard Fairbank, CEO of Capital One only made $68,000 last year and hasn’t made more than that in a few years, although he did snatch about $17 million in stock a few years ago.
Costco reported a weak number, Time Inc is ready to spin off AOL and Toys R Us is buying FAO Schwarz out of bankruptcy. Yahoo’s CEO is out saying they are not just a search company and wants to attack mobile, social and video.
Follow @upsidetraderThe information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.
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Joe was on Wall St, for twenty five years and his career took him to the retail, institutional and capital markets... More »
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