GE ( GE), Bank of America ( BAC) and Citigroup ( C) plummet to zero. Now make some money. Frank Curzio is the portfolio manager of Stocks Under $10 and shows you how to profit off of fear and forced selling. Watch his video on whether or to buy General Electric ( GE).
Biggest news of the week. AIG ( AIG) got an additional $30 billon from the government which caused the equity markets to trade at a 12- year low. Many analysts speculate that more money will be needed down the road. Citigroup ( C) stock fell to below a dollar this week as investors continue to worry about this banks viability and nationalization.
And we can't talk about this universe without talking about General Motors ( GM). GM instills fear in investors. First, auto sales declined 53% in February. Then in a 10-K filing the company said that recurring losses and its inability to generate sufficient cash flow caused "substantial doubt" about its ability to continue. Bankruptcy is now on the table if GM can't execute its restructuring program. The week ahead. IMAX ( IMAX) will report Thursday before the bell. This was a stock Frank Curzio recommended back in December for 2009 to buy under $3. The stock is currently trading above $4. Analysts are expecting a solid first quarter with the company benefiting from huge movie releases like "The Dark Knight." Going forward, expectations are also positive with most action directors switching to the IMAX format because it generates three times the revenue. More theaters are opening up nationwide and it has a good movie pipeline going forward starting with "The Watchmen."
Make fear your friend and find well capitalized names on the cheap. Email Frank@thestreet.com for a free trial now! Also 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. Stephanie Link, Director of Research for Cramer's Action Alerts Plus Portfolio, was a guest on Frank's podcast on Wednesday and recommended to buy oil. Her favorites are ConocoPhillips ( COP), Chevron ( CVX), and BP ( BP). She believes that oil is bottoming and that stocks will trade within a range between $35 to $50 on further production cuts, rig shut-ins and demand from China. 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.