Proven Track Record of Most Accurate Analysis
Proven Track Record
of Most Accurate Analysis
We are initiating a 5% tranche on Deutsche Bank (DB) at $31.39. This is a very lon- term position. Deutsche Bank is the largest German bank. Please see prior entry. German stocks are being slaughtered on a report that Germany is taking steps to protect its banks against a Greek default. BUY WHEN THERE IS BLOOD IN THE STREETS. It is getting close in some European stocks.
We are taking profits on the 5% tranche of GLD (GLD) from $185.05 right here at $179.73. We are still maintaining the rest of our GLD position. In this environment it is best to take profits often.
Barack Obama in an attempt to reinvigorate his presidency and the economy has presented to the congress a jobs plan. The $450 billion price tag is larger-than-expected. The plan proposes to reduce payroll tax paid by employees to 3.1% in 2012 from the 4.2% level temporarily introduced this year. As it stands now, without this plan, this tax would revert to its traditional rate of 6.2%. The plan will also reduce the payroll tax paid by the employers from 6.2% to 3.1%, with a limit of the first $5m of wages. Further employers hiring new workers or increased salaries will
Open Table (OPEN) fell more right after our last post on Open Table. Now Citi ( C) has come out in the defense of Open Table. This defense of Open Table has led to an upspike in Open Table. Citi says to buy Open Table aggressively on this dip.
Open Table (OPEN) makes online restaurant reservations. This Open Table has long been on our watch list to short, however it never meets all of our screens to initiate a position. Zagat is the most respected restaurant review service out there. Recently, Zagat agreed to provide its content to a competitor of OPEN, owned by IAC/Interactive Corp (IACI). Now the news is that Google (GOOG) is buying Zagat. OPEN is down $4.00 on the news. Anyone attempting to short OPEN should be cognizant of a potential short squeeze in OPEN. For us to
Taking profits on PowerShares QQQ (QQQ) right here at $54.52 on all but a 10% tranche.
Added a 5% tranche to Pan American Silver (PAAS) at $34.40.