Afnani’s Picks Of The Day

Posted in Stocks

Airline stocks rose today (CAL, NWA specifically) on hopes of oil prices dropping soon (Friday). Bond insurers like MBIA (MBI) and Ambac (ABK) also rose dramatically. It’s funny, MBIA and Ambac continue to show that even though they are competing corporations, as an industry, they work hand in hand. When one goes up, so does the other. MBIA went up today because company officials reassured investors that they have enough liquidity to make it out of the “mortgage crisis” that’s currently going on. Ambac shot up in suite. Unfortunately, I sold all my stock of MBIA yesterday. Should have held on to it a bit longer. Heck, the bond insurers were the reason the DJ was up in the triple digits!

Personally, I had my money in Sprint (S) today. It closed up ~3%, which really isn’t much, but considering the rest of the telecoms industry took a plunge, I’m happy. I have a burning sense that Sprint will continue to go up a great deal on Friday, so I’m holding tight to my shares.

I saw this video the other day on YouTube. It’s sure as hell a promo for Ron Paul and his respective presidential campaign, but it does show legitimate reasons why our economy is unstable.

Promotional crap aside, we are definitely in a state of recession. And the market is bound to “pop” someday or another, maybe in a few weeks, or maybe not at all. The Fed is working hard to attempt to curb the downward trend of the US economy, and I have a feeling we will pull through.