We will have a short talk with
Pitguru Frank LaMantia about the financial market in the next coming days.
The Financials Review
For the week of March 21st, 2011
The market appears to be reacting positively to the military action in Libya which may help stabilize the situation in the Middle East. The nuclear power plant in Fukushima has smoke coming out at reactor 2 & 4. Water pumps have been connected to keep the reactors from overheating. Radiation is more than expected and has been found in the food supply. Estimates for the cost of the earthquake and tsunami could reach $250 billion. Warren Buffet said that there could be a buying opportunity in Japan as the country starts to rebuild.
AT&T is trying to buy T-Mobile for $39 billion which would take Verizon off the number one position. This would add over 34 million customers to its 96 million current subscribers. Regulators might reject the merger if the deal is not in the best interest of the consumer and or the economy. When does a company care about the consumer when trying to purchase another company? Typically, they are driven to compete with other companies. OptionsXpress is being bought out by Charles Schwab and is valued at $1 billion. OptionsExpress has over 385,200 client accounts and over $8.1 billion in assets. The deal is expected to be accomplished in the third quarter.
The S&P was up over 14 points to 1288.00 while the DOW was up 112 points to 11,911. This trader mentioned the psychological level of 12,000 on the DOW and that traders would like to see it at this level for the near future. I see a new trading range for the S&P which is 1265.00-1300.00.
By the way, the other
futures reviews on energy, metal, grain, and soft will support your trading.
The Financial Review This Week : March 21st, 2011 
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