Current Financial News

Panic means Buy Gold, Oil, and Mining

Flavor Flav GrillWhat U.S. Financial firm will fall next and will nobody save them just like Lehman?  With so much uncertanity we turn to Flav and Mr. T, both lovers of gold with the million dollar question -- Can Gold save us?

Passing on a good article about BofA (NYSE:BAC) buying up Merrill. The two companies have starkly contrasting cultures. Billions of dollars of bad debt remain on Merrill's books, while BofA still faces huge consumer credit losses. And the deal was slapped together in less than two days -- meaning that the two financial powerhouses involved might not know exactly what they are getting themselves into.

Spidey SenseOne word: Panic.  In the constant competition for headlines, page views, and unique visitors, the media's coverage of Wall Street's mess today made everything worse.  People are freaked out.  CNBC's latest headline of 'Worst Day For Markets Since 9/11' just adds fuel to the fire.

Bizarro WorldAmerican International Group, Inc. (NYSE:AIG) is the next big boy to fall, shares are down 62% today.  Lehman is done, and the only play is the opposite, that's right, if U.S. Financials Dow Jones Index is Superman, than Bizarro is the UltraShort Financials ProShares (AMEX:SKF).  These days, it's a Bizarro World.

Bad Day, Worse for Take-Two (TTWO)

BioshockEverything is in the red today, and after Electronic Arts walked away from their $25 per share bid to buy Take-Two Interactive (NASDAQ:TTWO) yesterday, TTWO shares are back down to the $16 level.  Let's not forget these are the guys that are behind GTA and BioShock.

Weekend Fun: Lehman and $4 Gas

Lehman (LEH) meetings will continue today and thanks to hurricane Ike we return to $4 gas.  Two fun events that should make for another flip-floppy week on Wall Street. 

By now you've heard, by Sunday 7 PM, we'll know if Lehman Brothers Holdings Inc. (NYSE:LEH) will be opening for business Monday morning. Here we go again.

Last Friday the Masters talked up Remember Potash Corp. (POT), the Perfect Stock when it was at $150 a share, today its back above $160.  The whole Potash sector is ready for a comeback, and the buyers are loving the potash stocks today like Tyrone Biggums' desire for crack.  Let's review the players.

Evergreen Solar (ESLR) shares in the $5 range

Evergreen Solar, Inc. (NASDAQ:ESLR) is looking like a prime Value Play at current levels. Evergreen shares have been cut in half since late June and hitting new 52-week lows all week.  At a time like this, their catch phrase really means something - Think Beyond. 

Carolyn Said at SFGate.com takes on the question of 'what if WaMu fails?'  Washington Mutual (NYSE:WM) shares hit $1.75 this morning, its beyond rediculous.

Via the SFGate.com