Investors experienced gut-churning volatility through the very end of a tough week. What's the word on the Street?
This has been a good week, with the stimulus package on its way, a 75 bp cut in rates from the Fed, and some hope that bond insurers may be getting some help from insurance regulators. S&P 500 up 2 percent.
U.S. stocks ended the day flat but there was plenty of action as oil passed through par, gold hit a new high and Bed Bath & Beyond put up "beyond" bad numbers. All that and more in the "Word on the Street."
Traders are blinking in disbelief at the commodity complex, as the S&P Energy Index (a basket of all the major energy stocks) has hit an historic high and gold stocks have gone parabolic. Look at what gold stocks have done in just the past two days:
Wow--did actor Ernie Hudson made a move or what Wednesday in "Trading With The Stars." He's now in 2nd place after making the biggest climb of any celeb trader so far. Ernie moved 5 places after being in 7th just the day before. How did he do it? Seems he sold all he had and is now strictly in cash. Will that strategy hold? Remains to be seen.