Hanging on to FRE- now up to $3.25.
Go man go!
good for all the funds!
US STOCKS-Wall St extends gains after Bernanke comments
Fri Aug 22, 2008 10:18am EDT
(Updates with reaction to Bernanke comments)
NEW YORK, Aug 22 (Reuters) - U.S. stocks added to gains on Friday after Federal Reserve Chairman Ben Bernanke said the recent decline in commodity prices and stabilization of the U.S. dollar were encouraging. For details, see [ID:nWEQ000126].
The Dow Jones industrial average .DJI rose 143.30 points, or 1.25 percent, to 11,573.51. The Standard & Poor's 500 Index .SPX shot up 11.82 points, or 0.93 percent, to 1,289.54. The Nasdaq Composite Index .IXIC climbed 24.66 points, or 1.04 percent, to 2,405.04.
The market was already broadly higher before Bernanke's speech at the Federal Reserve Bank of Kansas City Economic Symposium in Jackson Hole, Wyoming.
Expectations of an investment in U.S. bank Lehman Brothers (LEH.N: Quote, Profile, Research, Stock Buzz) underpinned an advance in shares of financial services companies.
Shares of No. 3 U.S. bank, JPMorgan (JPM.N: Quote, Profile, Research, Stock Buzz), more than 4 percent to $38.06.
A decline in oil prices boosted shares of big manufacturers, including United Technologies (UTX.N: Quote, Profile, Research, Stock Buzz) , airlines and consumer-oriented companies. Shares of major technology companies were another standout. United Tech was up 1.8 percent to $65.38. (Reporting by Ellis Mnyandu; Editing by Kenneth Barry)© Thomson Reuters 2008. All rights reserved.U.S. dollar trims gains vs euro after Bernanke comments
Fri Aug 22, 2008 10:19am EDT
NEW YORK (Reuters) - The U.S. dollar trimmed gains against the euro on Friday after Federal Reserve Chairman Ben Bernanke said a stable currency and a decline in commodity prices should help slow inflation this year and next.
His remarks pared back expectations of an U.S. interest rate increase this year, diminishing the dollar's appeal to global investors.
The euro rose as high as $1.4835 against the dollar from $1.4815 before Bernanke's remarks. Against the yen, the dollar held gains at 109.97 yen.
Bernanke spoke at an annual symposium in Jackson Hole, Wyoming.
(Reporting by Gertrude Chavez-Dreyfuss; Editing by Jonathan Oatis)
Hanging on to FRE- now up to $3.25.
Go man go!
Freddie's lonely. Buy some Fannie to keep him company.
"buy some Fannie"?:toung:
Tom
Market Commentary | My Blog | TSP Talk Plus | |
I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.
--->Nonchalant bird singing. "Got what?" :toung:
"All the prophets of Doom, Can always find room, In a world full of worry and fear..." - Protest Song, Monty Python
As Freddie knows....Fanny May or May NOT!!!!!!
FS
FogSailing
Try to learn something about everything and everything about something.
Well, I watched Freddie this afternoon bang it's head five times up against $3.51, before falling away. I was really rooting for it the fourth and the fifth time, but noooo....
Couldn't break through.
Oh well.
Still holding on to my shares, in the great hopes of tomorrow.
Note: I placed half of them with a sell order at $4.50, for two reasons- one, so that I would get my money back in case it happened to bounce up that high, and two: so that no one could use my shares for short fodder. People are shorting the heck out of freddie - but when it fell below $3, some brokerages cut off the shorting- Now that's its back up above 3, the shorts are having a field day with freddie.
Wish me luck on tommorrow. I need a big win to take me up and make up for the FXI I bought (China index ETF) and held for the last six months...
FRE now at $3.80.
What do you think?
Bird in the hand???
Or should I wait for the two in the bush?
Another big move. Nice!
Tom
Market Commentary | My Blog | TSP Talk Plus | |
I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.
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