It was another rough and tough on Wall Street. The market was down again. Terrible job numbers. Companies just are not hiring. Banks are being sued. Could a recession be on the horizon?
Dow closed down a lot. -253.31 (-2.2%)
Nasdaq -65.71 (-2.58%)
S&P -30.45 (-2.53%)
The spot light shone on Corelogic Inc. CLGX was up again. The company closed at 11.42 (+0.62%). Is this company really looking for a buyer or a possible merger? Or is this just hype? Personally, I don't see any deals happening this year.
Our short sell picks for the week did very well. The lone holdout was Camelot Information Systems, CIS. The company finally came around to our liking. It closed down at 5.22 (-8.42%). At the beginning of the week it was trading at 5.62.
We will be doing some analysis over the weekend. The housing sector need a serious look. There is so much going on with bad mortgages. We will post on Sunday evening. Hopefully there will be about 5 or 6 good short sell pick to start next week's trading.
Have a great weekend.
P.S. If you have an adjustable rate mortgage, your rate should be dropping. Touch base with you lender. Ask about your LIBOR.
The blog is about trading stocks. Most of our trades are short sell. What goes up must come down. It's a matter of when. We will give an account of each trade.
Will CLGX continue up? Is it ripe for a short?
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