TradingMarkets’ Top 5 Of The Day
Welcome to TradingMarkets.com Top 5 of the Day!
In this nightly feature, the editors of
TradingMarkets select the 5 best and most insightful (and sometimes humorous)
excerpts from all of the articles and blogs that have been published throughout
the entire day.
Here are today’s selections:
Gary Kaltbaum from:
An open letter to Alan Greenspan
“…Al, you are
probably a great guy, but January is not soon enough for me. You kept rates too
low for too long, creating a credit bubble and more than likely, inciting
inflation…and now you are going too far, too fast the other way. With
Katrina’s and oil price’s effect, this was the time to take a rest. Instead, you
continue to throw salt in a wound….”
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Dave Goodboy from:
This stock could get crushed, here’s my plan of action
“…
This is a new one on list. Allstate Insurance (ALL)
is being sued for refusing to pay flood claims from Katrina. I don’t believe
they have an obligation, based on the contracts. However, the payout for the
other damages and the very bad PR that will come from the suits, regardless of
the outcome, may crush this insurer. Here’s my plan: 51.50 breaks, I am
shorting.…”
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Jack Rothstein from:
Here is a hot semiconductor stock and my entry parameters
“…Should the market
cave NVDA is one of the stocks that ought to be grabbed after the bottom
wherever that may be…”
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Deron Wagner from:
Did you miss the gold rally? Here’s another sector about to set up
“…The
(BTK)
is holding up here in relation to other sectors which are relatively weaker.
Although we recently closed out a very profitable long position in BBH, we may
be considering a reentry on the ETF soon as the biotechnology index seems to be
extremely resilient in the face of a rather shaky market…”
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Jes Black from:
Will it be bull or bear market? Here’s what the numbers clearly say
“…In July
2005, stock mutual fund cash reserves reached 3.9% according to the Investment
Company Institute. The cash level for all mutual funds stands at 5% according
to Data View. Historically, mutual fund cash levels for equities below 8% are
bearish and levels near 4.0% in 1972 and 2000 each preceded a 2-3 year bear
market in equities. Simple math suggests that if fund managers do not have the
cash on hand for redemptions then they must sell stock. This in turn can
create a downward spiral on prices….”
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