BG,
60% return in a week for BAC, that´s a good return in anyone´s league.
How about Annualizing that.
"Results from Wachovia, Apple, AmEx and Texas Instruments dampen investors ahead of bell."
"Treasury officials confirmed that bank examiners from both the Federal Reserve and the Office of the Comptroller
are currently inspecting the books at both Fannie Mae and Freddie Mac. Paulson said in an interview published
Tuesday in the New York Times that he believed the results of those examinations would provide an important
signal of confidence for the markets.
Paulson spoke in advance of the release later Tuesday of a review by the Congressional Budget Office giving an
estimate of the budgetary impact of the administration's request for new authority to provide support for Fannie Mae
and Freddie Mac.
Fannie and Freddie have issued $5 trillion in debt and mortgage backed securities.
Of that amount more than $3 trillion is held by U.S. financial institutions and over $1.5 trillion is held by foreign institutions,
making the stabilization of the two companies essential to the global economy..."
Looking for the Markets to be down early. Not sure when the Congressional Budget Office will release their estimates,
but would suspect that the Market would rally.
Not sure how traders will view the report or if it will be enough to have a positive day.
Tough call, going with
DOWN on Tuesday,
gl,
baz