Stocks futures are indicating a flat opening, on comments from Ben Bernake that is strengthening the dollar. The stronger dollar is causing commodity prices to drop as well in early trading.
In London, Fed chief Ben Bernanke said that monetary policy could be tightened as the recovery takes hold. These comments sent crude and metal prices lower and dollar higher. Bernanke also said that the Fed will continue to prop up the economy for an extended period, but can’t do so indefinitely for fear of triggering inflation.
This morning there was another upgrade on Research in Motion (RIMM). This is the second in the last week and it comes shortly after the company missed their earnings and got hammered 17%. The stock now settling in the high $60′s, is getting some price targets increased to around $84-85. That would be over a 20% move. I think at current levels the stock is a decent value and can be accumulated for investors willing to take some risk. This is a very volatile issue and could have very wide swings. Be sure if purchase, to place some protection on the position.
I’ll finishing up my list over the weekend.
Have a great one…
