Options Trading News

March 31, 2011  Thu 7:42 AM CT


Morgan Stanley Makes Bold Call

TSLATesla Motors was upgraded to "overweight" by Morgan Stanley, with a $70 price target. That's more than triple its $23.71 close yesterday. The analyst based his call on a belief that the electric-car maker will become the country's fourth-biggest automaker. TSLA leaps 13 percent before the bell.

CarMax Falls Despite Strong Results

The used-car retailer reported fiscal fourth-quarter earnings of $0.39, beating the $0.38 estimate. Revenue was $2.25 billion, ahead of the $2.18 estimate. KMX is down slightly before the bell after rising 1.89 percent to $34.59 yesterday.

Berkshire Down on Sokol Departure

David Sokol, who had been expected to succeed Warren Buffett at the helm of Berkshire Hathaway, has resigned after it became known he owned shares in Lubrizol before recommending that his company acquire it. BRK.A is down 3 percent in the pre. Sokol says he did nothing wrong.

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The art of trading

As I stated in last week's article, a break out or a break down needs to have a couple things happen before it is considered a confirmed break out or break down. The only problem is that in today's market where things move much more quicker than they did just a few years ago, two days could wind up being the majority of the expected movement, if not the whole movement.

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