Archive for November, 2008

Markets find 3rd day in the green. Thrice a trend?

Submitted by WC Power Tech Fund
For Wall Street the last month has been a mixed bag somewhere between bearish disaster and depression era sell-off, so when some optimism floats in Traders are left to revel within themselves whether the terms “turnaround” or “dead-cat bounce” are most appropriate.
On the heels of some optimistic news, which the [...]

Markets let down by Washington as Lawmakers delay auto bailout for American Carmakers

Submitted by WC Power Tech Fund
For the second time a needed bailout that was, wasn’t. Yesterday’s market session traded higher by mid-day as Traders were looking for US lawmakers to outline a plan to bail out the American automotive industry. Instead they got grand-standing and lecturing from US senators bent on making automotive executives look [...]

Citigroup brings out a bigger Ax

Submitted by WC Power Tech Fund
A shell of its former cash-loaded banking self, Citigroup (C) delivered another blow to its workforce today with the announcement of over 50,000 job cuts. The cuts are all part of an effort to reduce costs by 1/5th at the bank, which has seen its shareholders lose 67% of their [...]

Wal-Mart Optimistic on Economy as others slash outlooks

Submitted by WC Power Tech Fund
The clout and reputation of Wal-Mart (WMT) precedes it even in the most trying consumer and economic times. Not only is WMT the only component of the Dow to be in positive territory for the year it is one of those American bedrock companies that span the nation and its [...]

Stock Gains from China Economic Plan evaporate in Afternoon Trade

Submitted by WC Power Tech Fund
In this continuing seemingly unprecedented global crisis the next stimulus injection attempt is being carried out by the Chinese. China announced a $586Billion US stimulus package it will use to try to guide that nation through the perils of today and tomorrow’s economic pressures. The package, which was designed to [...]

Stocks Gain Early on Election Day

Submitted by WC Power Tech Fund
The moment of truth is here for Americans, as all over the nation blues and reds visit their polling stations to cast their ballot for the next 4 years of policy, control and decision making. While Democratica Senator Barack Obama continues to show a wide lead in National polls (almost [...]