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 Steve Patterson     www.fastswings.com     Graphic_subscribe   

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    This is a Tracking Account  |  Tracked since 03/14/2008  [?]     SocialPicks is not affiliated with Steve Patterson
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Steve Patterson's Blog Posts


Markets Continue Correction 12/01/08   —  I was considering looking for some good long stocks with the recent week of gains but this morning’s manufacturing report of 36.2 versus the expected 38.4 has the markets falling sharply close to mid-day. More... ...
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C   Citigroup Bailout 11/24/08   —  Citigroup Inc (NYSE: C) landed a big investor over the weekend. This time it wasn’t a sovereign fund or Warren Buffet, it was the US Government. The Treasury Department, the Federal Reserve and the Federal Deposit Insurance Corp all came together to purchase $306 billion in bad assets from the bank...
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SKF   SRS   Ultra Shorts Pop Higher (SKF, SRS) 11/19/08   —  Both the UltraShort Financials ProShares (SKF) and the UltraShort Real Estate ProShares (SRS) skyrocketed today as volitility moved higher and investors look for additional weakness in the Real Estate markets and the Financials. More... ...
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COF   Capital One Financial Corp. (NYSE: COF) 11/18/08   —  A Goldman Sachs analyst today is predicting that losses at the biggest credit card companies will increase by 25% in the coming year as unemployment climbs and borrowers are unable to pay back the money they have outstanding. This increase would mean close to an 8% default rate compared to a current ...
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ETF   USO   Short the United States Oil (AMEX:USO) ETF 11/06/08   —  This Exchange Traded Fund (ETF) seeks to reflect the performance of West Texas light sweet crude oil on a daily basis management minus fees. And you can imagine with the recent drop in gas prices and the recent drop in oil prices, this ETF has been under some tremendous pressure. More... ...
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InformedTrades.com 11/04/08   —  If you are looking for community of traders that are serious about learning to trade in the stock market or the FOREX markers, InformedTrades.com is a place that you should take a look today. The site offers a set of free courses; discussion forums and a number of free trading videos. Just today, vid...
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GM   General Motors (NYSE:GM) Will not Get Government Aid 10/31/08   —  Seems logical that if the Federal Reserve and the Treasury are going to pump the financial markets with over a trillion dollars of loans to make sure additional banks do not fail, they would spread some wealth over to the domestic auto manufacturers which are having just as much trouble. But that doe...
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GM   General Motors (NYSE:GM) Will not Get Government Aid 10/31/08   —  Seems logical that if the Federal Reserve and the Treasury are going to pump the financial markets with over a trillion dollars of loans to make sure additional banks do not fail, they would spread some wealth over to the domestic auto manufacturers which are having just as much trouble. But that doe...
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CAR   Avis Budget (NYSE:CAR) and Rental Agencies All Fall 10/28/08   —  Travel volume has dropped along with consumer spending and consumer sentiment over the past several months. And Avis Budget Group suffered from the decline in travel losing $1 billion dollars and having to cut 700 jobs in the most recent quarter preliminarily reported last night. More... ...
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CAR   Avis Budget (NYSE:CAR) and Rental Agencies All Fall 10/28/08   —  Travel volume has dropped along with consumer spending and consumer sentiment over the past several months. And Avis Budget Group suffered from the decline in travel losing $1 billion dollars and having to cut 700 jobs in the most recent quarter preliminarily reported last night. ...
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AMR   American Airlines (NYSE:AMR) 10/23/08   —  American Airlines is seeing its stock decline by near 12% today as gas rebounds after a prolonged down trend in the commodity. Airlines generally move in the opposite direction of gasoline as fuel is a large part of their variable expense in flight costs. Only Southwestern was able to hedge against t...
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AMR   American Airlines (NYSE:AMR) 10/23/08   —  American Airlines is seeing its stock decline by near 12% today as gas rebounds after a prolonged down trend in the commodity. Airlines generally move in the opposite direction of gasoline as fuel is a large part of their variable expense in flight costs. Only Southwestern was able to hedge against t...
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FCX   Freeport McMoRan (NYSE:FCX) 10/21/08   —  Freeport McMoRan stumbled out of the gate this morning after releasing an earnings report that showed slowing demand for copper in China as the world begins to worry about slowing economies everywhere. The price of copper fell dramatically over the past quarter after an incredible run with a number o...
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FCX   Freeport McMoRan (NYSE:FCX) 10/21/08   —  Freeport McMoRan stumbled out of the gate this morning after releasing an earnings report that showed slowing demand for copper in China as the world begins to worry about slowing economies everywhere. The price of copper fell dramatically over the past quarter after an incredible run with a number o...
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MGM   MGM Mirage (NYSE: MGM) 10/10/08   —  The Casino Operators have had a precipitous fall along with the rest of the market during the month of October. Les Vegas Sands has fallen near 40% while MGM Mirage has taken a fall from $30 a share down to $12 a share today. Look for more weakness as gambling is not in the cards for American consume...
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MGM   MGM Mirage (NYSE: MGM) 10/10/08   —  The Casino Operators have had a precipitous fall along with the rest of the market during the month of October. Les Vegas Sands has fallen near 40% while MGM Mirage has taken a fall from $30 a share down to $12 a share today. Look for more weakness as gambling is not in the cards for American consume...
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Retail Pharmacies Decline 10/03/08   —  Retail Pharmacies Decline   The retail pharmacies/drug stores have hit fresh 52 weeks lows recently as consumer strength is questioned by investors as job losses mount. Walgreens and CVS Pharmacy are still growing in revenue and earnings but the stocks continue to fall. ...
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Retail Pharmacies Decline 10/03/08   —  Retail Pharmacies Decline The retail pharmacies/drug stores have hit fresh 52 weeks lows recently as consumer strength is questioned by investors as job losses mount. Walgreens and CVS Pharmacy are still growing in revenue and earnings but the stocks continue to fall. More... ...
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NCC   SOV   Regional Banks get Taken Out 09/29/08   —  Regional Banks get Taken Out Investors shed shares of regional banks quickly and with intensity on a day that saw a record drop in the DOW Jones Industrial average of 780 points. Buyers of Put options stepped in just as strongly to purchase out of the money and in the money Puts in Sovereign Bancor...
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NCC   SOV   Regional Banks get Taken Out 09/29/08   —  Regional Banks get Taken Out Investors shed shares of regional banks quickly and with intensity on a day that saw a record drop in the DOW Jones Industrial average of 780 points. Buyers of Put options stepped in just as strongly to purchase out of the money and in the money Puts in Sovereign Bancor...
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