Yesterday was pretty boring, not really much went on...today really did make up for it. SVU, SuperValu, missed and boy did the stock get punished, down 15% on 5.5x normal volume...what a play! leaving it with a 3.3% dividend yield which is higher than 10 year. I will keep it on the watch list, don't want to do a purchase into a falling market.
Cree missed on revenues and is also getting punished after hours down 8%, this is a definite watcher tomorrow.
BAC was down today as Blackrock, Pimco and the NY Fed are seeking for them to repurchase loans that they were packaged by their Country Wide Financial unit, there is most likely a settlement occurring here in the near future. BAC shares were down over 4% on pretty high volume, this is one that brave people would play for a bounce, but I am staying away from financials all together.
See you all tomorrow.
Well staying away from Financials did not last too long....Looking into BACs numbers they are pretty darn cheap!
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