Wall Street Traders

We’ve moved

cathleen222 — Thu, 29 Oct 2009 03:21:07 +0000

This blog has moved to EnterActive Media Web site.

Please visit that site to continue reading Wall Street Traders.

Amazon’s soaring again today!

cathleen222 — Fri, 23 Oct 2009 16:41:51 +0000

Holy Tamole! Take a look at Amazon today. I told you yesterday it was THE talk of the Street then — and at 12:30 this Friday afternoon, it’s up almost another $23 on the day.

My guess is there are lots of traders preparing to take their profits on this baby!

Options traders can’t resist the buy stops

cathleen222 — Fri, 23 Oct 2009 15:20:09 +0000

The buzz from some options traders on The Street this Friday morning is they are seeing too many buy stops not to go after them. One trader said, “We have buy stops above 1095.00 and again above 1098.50 up to 1102.80.”

Microsoft beats The Street’s estimates

cathleen222 — Fri, 23 Oct 2009 14:26:35 +0000

Although Microsoft reported this Friday morning that their net income fell from $4.37 billion to $3.57 billion in the year-ago quarter, their results still beat Wall Street’s estimates, according to istockanalyst, and the U.S. stock market rose higher.

Bernanke pushing Congress to act on financial reform

cathleen222 — Fri, 23 Oct 2009 14:15:50 +0000

Citing the need to strengthen our regulatory and legal framwork in order to prevent a recurrence of of what’s occurred over the past two years, during his speech at the Boston Fed’s annual meeting in Chatham this morning, Federal Reserve Chairman Ben Bernanke called on Congress to act on financial reform efforts.

Read more about this in The Wall Street Journal.

Bernanke speaking at Boston Fed conference Fri. morning

cathleen222 — Fri, 23 Oct 2009 09:32:34 +0000

Ben Bernanke is scheduled to speak at the Boston Fed’s annual conference on Cape Cod this Friday morning around 8:30 a.m., and CNBC said they plan to televise his remarks.

It’s all about Amazon today, baby!

cathleen222 — Thu, 22 Oct 2009 21:51:42 +0000

THURS-5:20PM — The talk of the street this afternoon is Amazon-Amazon-Amazon.

With Amazon’s earnings conference call going on as he spoke, Fast Money options trader Pete Najarian said it’s international growth guidance is off the charts and trader Joe Terranovoa says with e-commerce growth expected around 10 percent this year, it’s not eBay that’s getting the biggest jump out of this — it’s Amazon.

But on the downside, even though Amazon is up over 13 percent for the day at this time, Najarian says with Amazon’s P/E around 55, he’d find it a tough buy at this point.

Both Terranova and Najarian agree — if you’re going to buy Amazon — you MUST buy protection — and for the non-traders in the audience — that means options.

Najarian, by the way, who was picked this year by Trader Monthly as one of the top 100 traders, told me he had a great time on Saturday, when Charles Schwab hired him to come to town to head-up a learning seminar for some of their best investors at the Sheraton in Boston.

DISCLAIMER: Don’t base any of your investment decisions on anything you read here. Do your own due diligence, or at least enough research to pick the right professional to do it for you.

“Doctor J” Najarian reports on Amgen & more

cathleen222 — Thu, 22 Oct 2009 17:43:47 +0000

Jon “Doctor J” Najarian of OptionMonster, who is on his way to Matt Damon’s One By One charity event at Bimbo’s 365 Club in San Francisco tonight, reported earlier in the day on CBOE-TV on 3M, Amgen, Black & Decker and McDonald’s http://bit.ly/ZR5DY

Head of Boston Fed wants to see a “resolution authority” formed

cathleen222 — Thu, 22 Oct 2009 17:34:14 +0000

CNBC’s Steve Leesman did an interview this morning from Chatham with Eric Rosengren, head of the Federal Reserve Bank of Boston, who was getting ready for the Fed’s annual conference on Cape Cod.

Rosengren discussed his desire to see a “resolution authority” formed, not tied with the Reserve, which would have the ability to step-in and do something about firms whose failure would pose a risk to the entire financial system.

Check out CNBC’s Web site for more on this story.

CNBC & Jerry Brown butt-heads over State Street

cathleen222 — Thu, 22 Oct 2009 17:19:16 +0000

Did you catch the exchange between CNBC talkmeisters and California’s A.G. Jerry Brown on Wednesday?

Brown announced this week that on behalf of his state, he is filing a $200 million lawsuit against Boston-based State Street Bank, alleging the bank overcharged his state’s two largest pension funds by $56 million.

If you missed it, the Huffington Post has a little re-cap and a video of the exchange on their Web site.