Monday Morning Coffee with TradingMarkets

  • March 31, 2008
  • Ashton Dorkins

Good Morning!

Treasury Secretary to Propose Sweeping Changes… Lehman Loses $350M, Claims Fraud… More Changes at Citigroup… W.W. Grainger Names New CEO.

Asian stocks lower… European stocks down… And the futures flat half an hour before the open.

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TradingMarkets 5 Business Stories You Need to Know

Paulson Plan Begins Battle Over How to Police Market – Wall Street Journal

The Bush administration’s plan to remodel the patchwork system of U.S. financial regulation, built piecemeal since the Civil War, is the biggest salvo in what will be a long-running debate about the role of government in financial markets.

Citigroup Separates Credit-Card Business in Banking Overhaul – Bloomberg

Citigroup, battling to restore profit after a record loss, will set up an independent credit- card unit and overhaul consumer banking along geographical lines.

Euro Hovers at 1.5800, Pound Dives – Daily FX

Start of the week’s trade in FX saw more back and fill price action as traders braced for a slew of US economic reports culminating in the all important release of Non-Farm Payrolls this Friday.

Lehman Alleges Massive Fraud in Japan – TheStreet.com

Lehman Brothers is alleging it was the victim of fraud in Japan that cost it as much as $350 million, according to published media reports.

Paulson to Propose Financial Market Overhaul – CNN Money

The Treasury department will unveil the plan which has been in the works for months in a speech on Monday. Plan not expected to be final before end of President Bush’s term.

For more stories as they happen, go to our Breaking News section.

TradingMarkets 7 Stocks You Need to Know for Today

Here are 7 stocks for traders for today from TradingMarkets.com:

For a list of today’s highest PowerRating stocks, click here.

TradingMarkets 5 PowerRatings Stocks for Today

Company
 Symbol PowerRatings
The St. Joe Company JOE 9
MEMC Electronic Materials WFR 8
Superior Industries International SUP 8
SkillSoft SKIL 8
Sanderson Farms SAFM 8

View More Stocks

TradingMarkets Tracking the Wizards

Trader Vic Returns! – TradingMarkets

For a generation of futures traders, Victor Sperandeo was a trader’s trader, being on the ground floor as options trading was born in the United States, as well as being a pioneer in the trading of the S&P 500 futures.

Is the S&P 500 Serving Turtle Soup? – PowerRatings

Are we seeing a classic set-up developing in the S&P 500 right before our eyes? The set-up I’m talking about is Larry Connors’ Turtle Soup set-up, one of the great reversal spotting techniques.

Too Hot to Handle? – TradingMarkets

When a market sells off after a strong move higher, what kinds of stocks are traders selling?

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