Markets are taking a drubbing because legislators are zeroing on hedge funds & private equity.
They surprise the markets today by introducing a "new interest carrying taxes".....which was exempt for private equity & hedge funds......
When hedge funds are "impacted"...they are selling today.
What do I think of this and adjustment of capital Gain taxes as pertaining to Blackstone group....it is extremely "minor in scope but MAJOR in surprise to the markets".
Bond yields are back to unchanged levels........which is a "good thing".
As it is friday and so much washington interference in market mechanism....this will take a toll in the indices.
Use this day as another repositioning day to better risk/reward ratio in your portfolio.Go for strong stocks which is down today.
@ 1PM the following stocks are GREEN:
STP (what a pleasure),SNDA,GOOG on upgrade,EBAY on upgrade,NVDA,SIRF,
CTRP,LVS (found support finally),FSLR new HIGH,
TSL continuing recovery from support,SOHU new HIGH,NCTY,BIDU.
BX had a so so IPO debut.
Good luck on rest of the day.
Next update @ 7pm est.
BLOG does not give buy or sell.
Saleem
Gold & Oil are fading.
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