Just some quick thoughts on the market that opened this morning. I'm watching it somewhat closely so that I can find my first trade which I will do this week. Not quite ready to do it yet, but soon.
Two stocks I'm watching today. The first is ETrade. Still not interested in buying more of it at this point, just want to watch. But it had a big announcement today that Citadel investment has invested $2.55B. For that money, Citadel got a lot from Etrade, including 17% of the company. The deal looks bad from a shareholder perspective, but it's good that a large fund is taking a stake in Etrade. These funds don't do this to lose money. They do it to make lots of money, so it does give some hope to Etrade investors. Still don't buy the stock here though.
Dell actually looks very interesting to me. Again, I don't think I buy here, but there is probably going to be some action here after the bell. Dell is going to have a conference call today, something they haven't done in a while. Michael Dell has retaken the helm and PC sales have been strong for the last quarter. I think Dell surprises to the upside. It has been strong as of late, but I think with strong numbers, Dell can push through the $30 resistance which has held it down for years (much like MSFT temporarily pushed through its resistance). I think it has $4 of upside, maybe $1 of downside. Not bad. Will know what you should do here in about 3 hours.