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Archive for November 7th, 2011

Posted by Martin November 07, 2011

Stocks ended higher today

Late rally today pushed DOW index back above 12,000 points on Euro optimism. In my opinion this optimism doesn’t take into account Italy’s problems with ECB and bonds rate rocketing up. As per the news, the rally started at 2 pm EST on news that Greece will receive the latest installment of emergency aid. However, Continue reading →

Posted by Martin November 07, 2011

European Central Bank (ECB) warns Italy to stop buying its bonds

ECB warned Italy last weekend that it would stop buying its bonds if it won’t pass required reforms of Italian budget to get Italian debt under control, said Yves Mersch a member of a bank governors board. Currently ECB is buying Italian bonds to slow down rates and prevent them from skyrocketing. Although ECB’s interventions Continue reading →

Posted by Martin November 07, 2011

Italian 10-year bonds reached all year record highs today

The Italian bond rates reached all year new highs since Italy joined Eurozone. Today, it raised to 6.67% and that creates a tremendous pressure to Italian budget to pay their loans. ECB intervention couldn’t help this skyrocketing move. Due to investors’ worries about Italian debt the new rate reached almost 7% and as Reuters says Continue reading →

Posted by Martin November 07, 2011

Stocks Will Be Cheap When the S&P 500 Tumbles 25% Says Portfolio Manager

There’s an old saying about lousy stocks on Wall Street: “If you liked XYZ at $50, you must love it at $25.” Along those same lines, it could be argued that if you think stocks are cheap now, just wait until you see how cheap they are when earnings estimates come down. According to Mike Continue reading →