Another down day, but with a few bright spots. [[GOOG]] [[RIMM]] [[AAPL]], The Ag space, solars, & oil actually rallied today.
Some of these stocks have been beatin’ to a pulp, and deserve to get a bounce. I myself, have been selling into this strength and raising a significant cash position.
Note: My largest holding at the moment is [[SKF]] If you enjoy the content at iBankCoin, please follow us on Twitter
good stuff..
got out of SKF today at 108.87, didn’t think we would sink at close. We didn’t, but now I wish I held it anyway…feels like they are easing us into a frickin’ bomb drop Bond Insurer headline in the next week, slightly negative news each day, to get us ready for it…. (Fitch et all I mean, not just CNBC)
Gasparino CNBC commentator was saying today that “they” have about a week to do something about the 2 Bond Insurers, or else. He did say that news might be good because he hears the Fed and State of NY are jockying as to who will get the credit for saving these bond insurers, meaning saving the BI may be a done deal. But, that could be just releasing some hope to the public. I guess we’ll see next week. Of further interest may be the European banks reporting earnings next week. If they got problems like we had, look out. No doubt somebody (not Fly of course) more knowledgable may be able to shed some light on both these issues.