Wednesday, November 11, 2009

Intraday Moves (CLWR, TOL)

After a sharp move higher (above 10,300 for the Industrials), stocks have given much of that back. The Dow is +23points, led by Boeing, American Express, BofA and Home Depot.

Toll Brothers (TOL) is among gainers today, after another impressive quarter.

Among losers is Clearwire, a stock I discussed yesterday.

Pacific Crest Securities said that "it is a very early-stage company, whose capital structure is undergoing substantial changes." They "continue to face difficulty valuing CLWR."

Dear GOD. When a sell-side firm "faces difficulty" valuing a security, it means they cannot justify a reason to buy it.

Copyright 2009 AlphaNinja

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