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Tuesday, January 06, 2009
Charles Payne: 3 Stocks, Charles' Choice
Charles Payne, Contributor
FOXBusiness
Football and Real Life
The magic of movies is that audiences voluntarily suspend common sense and are ready to accept Brendan Fraser and Nicolas Cage as action heroes. That is the beauty of the whole thing. Watching the "Twilight Zone" marathon with my family last week, my son remarked how good the special effects were back then.
Of course, each year the stuff on the silver screen gets more and more realistic -- but at the end of the day when we buy a ticket, we become willing allies of the filmmaker. And so it goes that in the stock market we have been voluntarily suspending common sense and willing to accept a reality that isn’t matched up with anything tangible. I’m game because it’s creating fantastic money-making opportunities, but I implore everyone not to become so engrossed with the hype that we take our eyes of the real picture.
Yesterday was more like those older Nickelodeon machines than modern motion pictures. It was a very pedestrian session but there were flashes of spunk. Interestingly there was a fair amount of strength beneath the surface.
Although we are ready willing and able to play the game the fact even the make believe of movies can be so disturbing as to turn scare the wits out of us. One has to wonder if that could be the case on Friday, when the market is bracing for the government to announce the loss of 500,000 jobs in December. It’s a little macabre to think a number below half a million could be viewed in a positive light.
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FOX Translator
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A specialist is a member of a stock exchange who works as an auctioneer for a specific stock and/or stocks. It can be an individual, partnership, corporation or group of firms.
The specialist works to maintain a "fair and orderly market" for respective stocks, matching up buyers and sellers by displaying the best "bid" and "ask" prices at its trading post. If buys are not equal to sells, the specialist evens the scale by buying or selling shares, accordingly. However, they cannot make their own transactions until all investor orders have been placed.
Gauging supply and demand, the specialist sets an opening price for the stocks in its domain. If a price has not been set by the time the market opens, the specialist can delay that particular stock's opening.
Specialists make money off the "spread," which is the difference between bid and ask prices on orders.
