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Trader Talk with Bob Pisani

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  Tuesday, 15 Jan 2008 | 11:38 AM ET

Citi "Proves" Financial Bottom Is Not Here Yet

Posted By: Bob Pisani
Major indices are again at important technical levels. The small-cap Russell 2000 is again at 52-week low; and if we close here the Dow Industrials and the S&P 500 will both be at 10-month lows. The problem is principally with Citi and the realization that the bottom is not in. The equation here is simple: no "kitchen sink" quarter + consumer deteriorating = stock dead in water. »Read more
  Tuesday, 15 Jan 2008 | 9:02 AM ET

Retail Numbers (Disappointing) And Citi (They Blew It)

Posted By: Bob Pisani
Retail sales a clear disappointment, dropped futures even more, only good news is Fed has even more room to ease here. Citigroup reported a fourth quarter loss of $1.99, $1.03 expected. Losses were driven by write-downs (of $17.4 billion) and losses in subprime, and an increase in credit costs of $5.4 billion in the consumer loan portfolio (more signs that the consumer is slowing down). »Read more
  Monday, 14 Jan 2008 | 11:48 AM ET

Market Analysts Keep Looking For Market Bottom

Posted By: Bob Pisani
Several interesting strategist/analyst calls this morning, all trying to pick a bottom: 1) Credit Suisse recommending an overweight in U.S. stocks because the Fed is likely to cut rates to respond to the slowing economy quicker than their European counterparts. »Read more
  Monday, 14 Jan 2008 | 9:00 AM ET

U.S. Markets: Set To Outperform Europe?

Posted By: Bob Pisani
Is the U.S. market getting beaten-up enough to get interesting? Strategists at Credit Suisse seems to think so. They are recommending a 5 percent overweight in U.S. stocks because the Fed is likely to cut rates to respond to the slowing economy quicker than their European counterparts. »Read more
  Friday, 11 Jan 2008 | 4:36 PM ET

Markets Show "Rotation" During Week

Posted By: Bob Pisani
A change in sentiment? This week saw interesting rotation in the markets. Beaten up financials were looking for a bottom, with the largest ones up for the week. Retailers showed no signs of bottoming, most of the large ones at 52-week lows. Ditto for restaurants. »Read more
  Friday, 11 Jan 2008 | 3:42 PM ET

Buying Into Financials: The Good News And Bad

Posted By: Bob Pisani
Quarterly reports next week from Citi, JP Morgan, Washington Mutual, Wells Fargo, Comerica, Merrill Lynch, PNC. There are plenty looking to go long after the reports are out, based on valuation. For example, Citi and Wells Fargo are trading in the bottom 10 percent of their historical valuation. »Read more
  Friday, 11 Jan 2008 | 9:16 AM ET

BofA/Countrywide Deal Makes Sense, Despite The Cynics

Posted By: Bob Pisani
The Bank of America-Countrywide deal is less than two hours old, and already the cynics are out. It's a government-approved bailout, cynics say. It's a government conspiracy to keep the market up, cynics say. Things look like they are worse than appears at Countrywide and BofA gets a deal in the long term, they say. »Read more
  Thursday, 10 Jan 2008 | 4:29 PM ET

Talk Of A Bottom, Not Bernanke, Got Stocks Going

Posted By: Bob Pisani
Bernanke said he "stands ready to take substantive additional action" to help the economy, implying the Fed would cut interest rates. Stocks briefly rallied on that, then fell back. What really got stocks going was talk that there might finally be signs of a bottom. »Read more
  Thursday, 10 Jan 2008 | 3:47 PM ET

Retail Stocks: Don't Be Excited Over Them Yet

Posted By: Bob Pisani
Retailers holding up despite a poor December showing. Don't get too excited; this was one of the most shorted groups on the street. But aside from a short squeeze rally, what would it take to get investors back in a real way? Besides signs that we are not going into a deep recession, the most important factor for retail stock investors is limiting store growth. »Read more
  Thursday, 10 Jan 2008 | 2:51 PM ET

BOA-CFC Talks Boost Financials, But Bernanke Can't Hold Markets

Posted By: Bob Pisani
As the Journal announced that Bank of America was in advanced talks to buy Countrywide, thrifts have shot up: Countrywide up 52 percent, Washington Mutual up 9 percent, Downey up 6 percent. »Read more

About Trader Talk with Bob Pisani

  • Direct from the floor of the NYSE, Trader Talk with Bob Pisani provides a dynamic look at the reasons for the day’s actions on Wall Street. If you want to go beyond the latest numbers— Bob will tell you why the market does what it does and what it means for the next day’s trading.

 

  • A CNBC reporter since 1990, Bob Pisani covers Wall Street from the floor of the New York Stock Exchange.

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