Frank Curzio is the portfolio manager of Stocks Under $10, and he shows you how to profit from fear and forced selling.
Watch his video on whether or not to buy
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Big News of the Week
The Financial Accounting Standards Board voted to ease mark-to-market accounting rules. Beaten-down financial stocks like
Bank of America
, the real winners of the new guidelines, rose Thursday.
World leaders met at the G-20 summit in London and committed $1 trillion to help fight the global economic downturn, igniting a rally in world markets.
There was also a lot of not-so-bad economic data, which helped move several stocks under $10.
and Ford had steep declines in March sales, but executives said that sales picked up at the end of the month.
The unemployment rate rose to 8.5% in March. This number delivered no surprises, and there were no revisions for February.
As for companies,
saw heavy volume this week, and
Bank of America
CEO Ken Lewis tried to spread some optimism. He said in an interview with
that BofA will be thriving by 2011.
The Week Ahead
will report earnings on Tuesday. The stock received an analyst upgrade this week from Deutsche Bank.
Earnings season will pick up steam in the middle of April, but before then investors could see some preannouncements. Negative news could trigger a selloff, potentially creating buying opportunities in the stocks under $10 universe.
Tune in to the Real Story Podcast where Frank takes you beyond the headlines to tell you what's really going on in the market.
Subscribe to the podcast today!
This week on the podcast, Adam Feuerstein, portfolio manager of Biotech Select, recommended shorting
, saying its adult stem cell drug, Prochymal, doesn't really work.
One viewer asked when they should sell
, a stock Curzio owns for his model portfolio. JPMorgan upgraded the stock to overweight from neutral and raised its price target to $17 based on the potential for higher gross margins. Curzio said this recent optimism should push the stock to the $13.50 area if the market keeps trending higher. Curzio advises to take profits at this level.
Frank and his guests make great calls all the time and you need all the help you can get in this volatile market, so don't miss his podcast.
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Alix joined TheStreet.com TV in February 2007. Previously, she held positions in film and theater production, management, and legal administration. Alix has a degree in communications and theater from Northwestern University.