Free Intraday Stock Tips

Stock calls : 25-Feb-2009

NIFTY FUTURE 26 FEB SIGNALS

BHARTI

DLF

BHEL

RCOM

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Tags: day trading calls, intraday stock calls, nifty signals

Stock calls : 24-Feb-2009

NIFTY FUTURE 26 FEB SIGNALS

MUNDRA PORT

INDIA INFOLINE

RELIANCE COMMINICATIONS

TVS MOTOR

GESHIP

MC-DOWELL-N (UNITED SPIRITS)

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Tags: day trading calls, intraday stock calls, nifty signals, Short Term Calls

The “DROWNING” STREET

The US stock market was down more than 3% before rallying as fears for the banking system were calmed.

Stocks had been under heavy selling pressure since the start of the session. Weakness was underpinned by concern that two of the nation’s largest financial services companies, Bank of America (BAC 3.79, -0.14) and Citigroup (C 1.95, -0.56), may have to be taken over by the government. Though a Bank of America spokesman defended the company’s health, concerns remained as Senator Dodd suggested that nationalization of a bank may happen.

Shares of C and BAC fell to new multiyear lows, dragging the financial sector more than 9% lower.

Financials rallied all the way back into positive ground after word surfaced that the White House believes the correct way to run the bank system is through private ownership, which likely helped calm fears of bank nationalization.

There is also speculation Treasury will soon release further details of its financial stability plan, though a spokesperson wouldn’t comment.

Financial stocks were further helped by rumor that bank investor JC Flowers is buying preferred shares in big banks, specifically BAC. BAC was also called one of the best buys ever seen in the NYSE by an analyst on CNBC.

The positive developments induced short-sellers to cover their positions, helping the financial sector turn higher. The broader market rallied in response.

The Dow and the S&P 500 both made their way to the session’s unchanged mark, while the Nasdaq turned positive.

The move proved unsustainable, though. All three major indices finished with a loss. The Dow set a new multiyear closing low; the prior closing low was set Thursday.

The Nasdaq Composite incurred the least severe decline of the headline indices, thanks to support from large-cap tech names. The strength in large-cap tech helped the Nasdaq 100 finish the session 0.4% higher.

Still, financial stocks continue to represent the biggest concern for the broader market, and will continue to do so in the coming week.

Lowe’s (LOW 15.86, -1.12) traded lower after reporting earnings that fell short of estimates, along with downside guidance. JC Penney (JCP 15.10, +0.08) beat earnings estimates, but forecast a deeper loss than analysts are projecting. Their reports received little attention by the broader market.

The January CPI data didn’t contain too many surprises as total CPI was up 0.3%, in-line with expectations, while core CPI was up 0.2% versus the consensus estimate that called for a 0.1% increase. Share volume was high this session.

More than 2 billion shares traded hands on the NYSE this session, but that was largely due to this being an options expiration day.

Tags: dow jones, nasdaq, S&P