Madoff – Throw the Key Away
Good morning to all…
A relatively quiet morning so far. S&P 500 futures are currently 883.50, the overnight low was 879.50 so this will be a point to watch today. If trading drops below the overnight lows selling pressure should increase. But be aware of the support levels I pointed out in my post on Friday.
A judge today will decide if Bernard Madoff will get to stay in his penthouse apartment or will go to jail. I don’t even know why this is being debated in the courts. He should have been put in jail on day one.
Seagate (STX) says they will layoff 10% of U.S. workforce
Tarragon (TARR), a real estate development company files Chapter 11 this morning
Amkor Technologies (AMKR) CUTS Q4 REV GUIDANCE TO -23% TO -25% Q/Q
Kennametal (KMT) CUTS Q2 EPS GUIDANCE TO $0.34 V $0.48E ($0.51-0.56 PRIOR); CUTTING COSTS, LAYING OFF 1,200 WORKERS (APPROX 9% OF WORKFORCE)
This mornings chart is the volatility index (VIX)
Volatility Index
