Ticker Of The Week- SLM Corporation (NYSE: SLM) Student Backed Loans
by Jim Stanton, Technical & Quantitative Analyst, Smart Profits Report
How’s this for a pleasant change? Most of the bank stocks have had a pretty good week.
However, comments from the Obama administration about the future of the healthcare sector and a provision that would make the government the sole provider of federally backed loans to students, kept the broader stock indexes from following suit.
For example, SLM Corp. (NYSE: SLM) dropped over 30% on Thursday because the government thinks it can do a better job at managing student loans than the private sector. This has many businesses - including the healthcare sector - on edge, unsure of what businesses the government will put its mitts on next.
The Feds already own a big piece of Citigroup (NYSE: C), with more big banks in danger of undergoing a similar fate.
One bank stock on my radar recently is SunTrust Banks Inc. (NYSE: STI). The stock traded as low as $6 just a week ago, but has rallied more than 100% since then before pulling back again today. Check out the chart below…
The stock has short-term support around the $10 level, but with no real details being released on how the rest of the banking situation will be handled, they could still be very risky investments.
The top of a long-term regression line comes in around $15 and a close or two above $15, especially on heavier volume, should lead to higher prices.
Top 5 Recent Closed Positions - Mt. Vernon Research Trading Services
|
COMPANY |
SYMBOL |
BUY DATE |
SELL DATE |
GAIN |
SERVICE |
|
May 2009 Silver Futures |
$11/$11.25 (call option spread) |
12/18/2008 |
2/6/2009 |
50% |
|
|
SIGA Technologies |
SIGA |
10/16/2008 |
1/30/2009 (first half) |
66% |
|
|
Whirlpool (February 2009 $45 calls) |
WHR-BI |
12/31/2008 |
1/6/2009 (second half) |
161% |
|
|
Whirlpool (February 2009 $45 calls) |
WHR-BI |
12/31/2008 |
1/5/2009 (first half) |
73% |
|
|
Immersion |
N/A (uncovered) |
3/26/2006 |
12/11/2008 (sold half) |
51% |
Top 5 Recent Closed Positions - Xcelerated Profits Report
| COMPANY |
SYMBOL |
BUY DATE |
SELL DATE |
GAIN |
|
Tesoro |
TSO |
11/24/2008 |
2/17/2009 |
108% |
|
The Gap Inc |
GPS-OU (put-sell) |
11/24/2008 |
1/5/2009 |
23% |
|
VMware |
MKT-MG (bought puts) |
8/22/2008 |
10/29/2008 |
83% |
|
iShares China 25 |
VHF-MR (bear spread) |
6/25/2007 |
9/15/2008 |
50% |
|
December 2008 Gold Futures |
$930/$950 (bull call spread) |
5/23/2008 |
7/15/2008 |
36.9% |
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