Bank Lending Still Down And For Good Reason

According to a report by CNN Money, lending is still down at the nation’s largest banks. There has already been a significant decrease in residential borrowing as banks have tightened credit standards and loan demand has decreased. Residential borrowers are overextended and have found it near impossible to get financing without a very good credit score and […]

Shorting Financials

I added shares of FAZ again at $4.70. This ETF has worked pretty well for me as a trade. I buy when it drops to the mid 4’s and sell it over 5 dollars. I am still not seeing too many buying opportunites for stocks yet.

A Roller Coaster Market

This market has been pretty erratic over the past week. I have heard various commentators speculate as to why the market is up or down on a given day. At best these are simply guesses. It appears that the market is searching for direction. Stocks are nowhere near their highs of a year ago and […]

Endo Pharmaceuticals

Another drug stock that I really like is Endo Pharmaceuticals (ENDP). Endo Pharmaceuticals is a midcap biotechnology company that is know for developing and selling pain management drugs and therapies. This company may be a good investment as a play on an aging baby boomer population. The generic pharmaceutical market is a highly profitable market as drug patents expire from […]

Sales

I have sold all of my short term positions in Charles Schwab (SCH), Manitowoc (MTW), United States Oil ETF (USO) and the ProShares UltraCrude ETF (UCO). I think that the long expected reversal is finally under way.

Major Down Day

I sold all of FAZ today at $5.30. It had a nice gain over 12% today. I am looking at two small pharmaceutical companies. One is Cubist Pharmaceuticals (CBST) and the other is Endo Pharmaceuticals (ENDP). BP (BP) is also starting to look attractive. i am looking at adding more shares for my long term […]

Today’s Purchases

I bought FAZ again for a short term trade. I didn’t plan too but it dropped so rapidly at the market close. I bought a small amount at $4.94 per share. My thinking is that we could have a brutally down day tomorrow and some quick profits could be made with FAZ. I added more […]

Today’s Sale

I sold the rest of my FAZ position between $5.15 – $5.20. I think this ETF still has room to increase but with banks repaying TARP funds; I didn’t want to take that chance.

USB

Bought shares of US Bancorp (USB) at $17.70 today.

Today’s Buys

For my long term portfolio I bought the following: Added shares of Nike (NKE) at $55.35  Bought shares of Endo Pharmaceuticals Holdings (ENDP) at $16.65.   For my short term portfolio I bought the following:  ProShares UltraShort S&P500 (SDS) at $55.90.  ProShares UltraLong Basic Materials (UYM) at $18.50.  ProShares UltrasShort Real Estate (SRS) at $20.