Cheap financial stocks rallying huge. How can you make 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 not to buy Citigroup ( C) after its 38% rally Tuesday.
Biggest news of the week. Citigroup's CEO, Vikram Pandit, announced the bank made a profit in the first two months of 2009. On the news, the market rallied huge and Citi alone traded 1.1 billion shares. Some analysts remain skeptical over the bank's ability to maintain a profit. General Electric ( GE) finally lost its beloved "AAA' credit rating. The S&P downgraded GE to "AA+' just two weeks after the conglomerate trimmed its dividend. The company did say that GE's outlook was stable and the stock saw a relief rally. General Motors ( GM) also saw a pop in shares. The struggling car company announced it could survive the short term without $2 billion emergency loans. GM may still need $16.6 billion in federal loans but cost cutting measures during the first quarter helped its cash flow. Also, competitor, Ford ( F), altered its contract with the UAW which will save the company $500 million annually. GM is trying to fix its own contracts and Ford gave GM a model to follow. IMAX ( IMAX) reported earnings this week below analysts' expectations. Management expects the company to turn a profit in 2009 helped by some big name releases like 'Harry Potter and the Half-Blood Prince.' IMAX has $27 million in capital and a good operating cash flow. Frank Curzio owns this stock for his model portfolio. See how he's trading it! Email Frank@thestreet.com for a free trial now!