Market today has been pretty volatile (DJI shuttled over the unch mark about 20 times and S&P swung about 40 times around the unchanged level), and ended relatively flat. It would continue this trend until the bail out proposal issue is resolved... If the porposal is approved, markets would rally +300 , otherwise, it would go by the same in the other way.
My view that the markets would rally on Buffet news was proved wrong. Most of the financials went down but GS. However, as I expected, the solar (alt-energy) companies had their rally today (spwr, fslr, ener, eslr, tsl..) on teh news that the govt extended a 17Bn tax credit for solar companies.
and .. whatelse.. Bank of East Asia, the third largest bank in Hong Kong had a run-on-the-bank on the rumor that either the govt is taking it over or taht it is too much exposed to Leh and AIG. Officials denied the rumors saying that the assets held in AIG and LEH are just 2% of their asset base.
Thats about it.. I was confined to reading stuff and watchign Bloomberg vidoes on Commodities for most part of the day.. Put money in APWR options.. I think the company has strong fundamentals.. wind energy and power distributiion play in China. 50% YOY growth, currently trading at about 7x 09 EPS. It better see the $15 mark by december, or I'd be royally screwed!!
Pic of the day: Is the glass half empty or half full?
Ben baba at Capitol Hill pitching his plan to Senators!!
My view that the markets would rally on Buffet news was proved wrong. Most of the financials went down but GS. However, as I expected, the solar (alt-energy) companies had their rally today (spwr, fslr, ener, eslr, tsl..) on teh news that the govt extended a 17Bn tax credit for solar companies.
and .. whatelse.. Bank of East Asia, the third largest bank in Hong Kong had a run-on-the-bank on the rumor that either the govt is taking it over or taht it is too much exposed to Leh and AIG. Officials denied the rumors saying that the assets held in AIG and LEH are just 2% of their asset base.
Thats about it.. I was confined to reading stuff and watchign Bloomberg vidoes on Commodities for most part of the day.. Put money in APWR options.. I think the company has strong fundamentals.. wind energy and power distributiion play in China. 50% YOY growth, currently trading at about 7x 09 EPS. It better see the $15 mark by december, or I'd be royally screwed!!
Pic of the day: Is the glass half empty or half full?
Ben baba at Capitol Hill pitching his plan to Senators!!
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