So I thought that the Ipad was going to bomb. Since its expensive, doesn’t support flash, and has a bright screen which makes it less comfortable to read off of. Honestly, to me it seems like a less functional Touchpad computer. I’ve also heard that the Ipad is quite heavy due to its large battery. I really have to hand it to Apple because they really know how to sell their products. I mean the Ipod and their laptops are nice enough. They serve their purpose. The Ipod and Iphone set industry standards when they were released. Maybe I’m short sighted, but I don’t feel like the Ipad is anything new or innovative. It seems like an Amazon Kindle with color.
May 192010
As silly as it sounds, the vote to vote on the financial reform failed this Wednesday. The vote failed 57 to 42. The senate needs 60 votes in order to take the final vote on the financial reform legislature. Well, I’m sure they will try to bring the bill up for vote again soon. This bill is supposed to close up loop holes and tighten restrictions that allowed the Great Recession to occur.
Full story can be found here.
May 292009
Top Gainers:
| Symbol | Company | % Change This Week | Closing Price | 52-Week High | 52-Week Low |
|---|---|---|---|---|---|
| MAPP | MAP Pharmaceuticals Inc | 327.1% | 12.09 | 14.80 | 1.57 |
| PVCO | PVC Container Corp | 192.7% | 600.00 | 600.00 | 205.00 |
| SMRT | Stein Mart, Inc | 76.0% | 6.93 | 8.08 | 0.99 |
| OGXI | OncoGenex Pharmaceuticals Inc | 45.1% | 17.65 | 22.40 | 2.00 |
| MNKB | Monadnock Bancorp Inc | 44.9% | 5.00 | 6.45 | 2.95 |
| TSRA | Tessera Technologies Inc | 41.7% | 23.48 | 24.84 | 8.33 |
| TLFDF | Telford Homes PLC | 41.3% | 8.12 | 1.35 | 0.20 |
| DDUP | Data Domain Inc | 39.2% | 25.47 | 25.16 | 10.25 |
| NRLB | Northern California Bancorp Inc | 39.2% | 5.50 | 8.00 | 1.70 |
| XIN | Xinyuan Real Estate Co Ltd | 39.1% | 6.92 | 9.86 | 1.54 |
Top Losers:
| Symbol | Company | % Change This Week | Closing Price | 52-Week High | 52-Week Low |
|---|---|---|---|---|---|
| AVSM | Avatar Systems Inc | -93.3% | 200.00 | 6000.00 | 200.00 |
| FNDLF | Findel PLC | -52.1% | 7.15 | 2.50 | 0.30 |
| WAHUQ | Washington Mutual Capital Trust 2001 | -41.2% | 7.60 | 6.50 | 0.31 |
| GNPR | Genius Products Inc | -35.3% | 6.50 | 5.00 | 0.00 |
| NHIFF | Natunola Health Biosciences Inc | -35.1% | 12.90 | 0.13 | 0.13 |
| SBBG | Seibels Bruce Group Inc | -28.6% | 5000.00 | 25000.00 | 4500.00 |
| WHI | W Holding Co Inc | -26.7% | 18.92 | 57.50 | 6.24 |
| PNSN | Penson Worldwide Inc | -25.3% | 9.88 | 19.36 | 4.02 |
| CFIS | Community Financial Shares Inc | -23.8% | 15.25 | 23.25 | 11.10 |
| TKG | Telkom ADR | -23.0% | 45.57 | 78.50 | 32.50 |
While I don’t use moving averages , some people do consider them to be very important. The S&P 500 recently crossed the 20-day moving average. The index is now at 902.30, while the 20-day average is at 898.89. Since the low in March, the 20-day moving average has acted as a major area of support for price action. The 200-day moving average is also nearby at about 932.48. The S&P 500 has not crossed the 200-day moving average since December of 2007. It is still about 3% short of the 200-day moving average at this time. Crossing the 200-day moving average would be considered a major event. Stock indexes are considered a leading indicator of economic recovery. Analysts are hoping that this rally is a sign of better things to come for the US economy.
General Motors, failed to save itself from bankruptcy after the deal to swap bonds for stocks fell through. The deal that was offered to bond holders on Wednesday would give out 10% of the company’s stocks in exchange for 27 billion dollars of bond debt. However, not enough bond holders came forward, instead choosing to leave GM to its apportioned fate. GM has until June 1, 2009 to complete a chapter eleven restructuring as ordered by the Us government ; however, that scenario seems very unlikely now. Although the number of bondholders who accepted is unreleased, the acceptance quota that had to be met in order to qualify for a US loan was 90%. GM shares tumbled lower as news of the failed deal hit the markets. GM stocks are trading at 1.21 at the time of this post.
I think the reason most bond holders did not accept the deal is because they either have bond insurance or feel that the amount of stock being offered is inadequate given the risks associated with the company. GM’s bankruptcy would make it one of many companies to go down from this recession.