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An extremely volatile session in the stock market, resulting in the DJIA being down over 200 points prior to dramatically bouncing into positive territory; then falling hard at the close, ending the session down -92.65 to 10962.54. The Nasdaq gained +2.84 to 2215.71 and the S&P 500 fell -13.39 to 1214.91. The volatility is attributed to Bernanke's negative words, a big drop in oil prices, and the SEC's short sell curb suggestions.
General Motors (GM | Quote | Chart | News | PowerRating) climbed 5.12% or $0.48 to $9.86/share on a massive cost cutting campaign, including suspending dividends.
Fannie Mae (FNM | Quote | Chart | News | PowerRating) plunged another 27.75% or $2.70 to $7.03/share after hedge fund manager, William Ackman, proposed a reorganization plan that would annihilate shareholders.
Evergreen Solar (ESLR | Quote | Chart | News | PowerRating) rocketed up 11.46% or $1.05 to $10.21/share after winning a $1.2 billion contract in Germany.
Safeco (SAF | Quote | Chart | News | PowerRating) added 5.28% or $3.25 to $64.85/share due to Liberty Mutual reaffirming its buyout plans.
Oil fell $6.56 to $138.62/barrel, the Dollar dropped hard against the Euro and the VIX broke 30 today ending the session up .21% at 28.54.
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The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.
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