Monster Stock Portfolio - Cash is King
October 7, 2008
The week of October 6th, 2008
There will be no action in the portfolio this week, the markets are in trouble and its best to keep on the sidelines waiting for a new confirmed rally to grab Monster Stock Gains!
MST
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Reuters Business- Alcoa to slash jobs and sell 4 unitsNEW YORK (Reuters) - Alcoa Inc said on Tuesday it would slash more than 15,000 jobs, halve capital spending and sell four businesses as it reduces aluminum production in the face of the global economic downturn.
- Bank of America sells $2.8 billion CCB stakeHONG KONG (Reuters) - Top U.S. lender Bank of America , raising cash to weather a dismal market at home, sold a $2.83 billion chunk of its holding in China Construction Bank on Wednesday, dragging the Chinese bank's stock 5 percent lower.
- Asia stocks at 2-month highHONG KONG (Reuters) - Asian stocks rose on Wednesday, extending their recent rally into an eighth straight day, inspired by hopes massive U.S. government spending and tax cuts will continue to support the dollar and stimulate demand for exports.
- Alcoa to slash jobs and sell 4 units
- Market Watch
- Asia Markets: Mining, metal stocks rally in Asia, unmoved by Alcoa newsAsian metal and mining stocks such as Rio Tinto and Sumitomo Metal Mining Co. climbed Wednesday on an increase in nonferrous metal prices, disregarding Alcoa Inc.’s decision to slash jobs and curb output in response to the global economic downturn.
- Mark Hulbert: Too many newsletters have decided that the bear market is overIt’s been an almost daily occurrence in recent weeks:
- China raises bird flu alert after woman's deathBeijing officials ordered stepped-up checks in markets, slaughterhouses and farms that handle and raise poultry in an area near the nation’s capital after its was confirmation Tuesday that a 19-year-old woman died of the H5N1 bird flu strain earlier this week.
- Miners lead in Asia as metal prices jumpAsian shares were higher Wednesday after another gain on Wall Street, with mining stocks powering ahead on a recovery in prices for base metals and gold.
- Millionaires join the rest of us in feeling the economic heatAn overwhelming majority of Americans 45 years and older think the economy is in dire straits. That’s not limited to those who live paycheck to paycheck either. A record 80% of millionaires polled in another survey said this is the worst financial crisis they have ever experienced.
- Asia Markets: Mining, metal stocks rally in Asia, unmoved by Alcoa news