Speaking of Mr. Mozilo and Countrywide, is it not curious that the stock has fallen below the $18 strike of the convertible preferred Bank America took. Is it not curiouser the lack of coverage/commentary by CNBC on this issue, just another reminder to do your own homework and follow your own judgement. I surmise that their is some discussion going on at BAC right now. Maybe they are going to average down their position again, as if were a bargain before it must be a bigger bargain now ! I would humbly suggest they bring on Nick Leeson to help them co-ordinate this dollar cost averaging as he is expect at it. Just ask the Queen, she will vouch for him as he took down her bank doing it.
The above chart is a weekly view of Las Vegas Sands (LVS). Double top?
The above chart is a daily view of Las Vegas Sands. This low volume rally is classic, the longs should take it for what it is a gift to get out and if inclined go short.
The chart above is a daily view of tech bellwether Intel. I want to caution you that tech may not be the safe harbour that the financial media is portraying it as. Remember that little item of stock option backdating ? It has not gone away and will reappear soon, so be ready to deal with that if you are gonna play tech. I wish the SEC was a stock cause it is breaking out which is not good for this market. Good trading to you all.