Saturday, June 20, 2009

PIMCO's McCulley: No rate hikes until 2011

The latest in Barrons from McCulley:

In any case, he "sees no hike in the fed-funds rate until 2011."

And the latest venue for stock tips is Twitter's tweets!

"Since brokers have to save instant messages and e-mail, but thus far have no such mandate for tweets, well, you can guess that the far more discreet traffic is on Twitter," says Jon Najarian, of It was on Twitter that Najarian first heard last week's news that Matrixx Initiatives ' (ticker: MTXX) Zicam nasal spray allegedly damaged people's sense of smell. "Guys started tweeting and the stock dropped from $19 to $13," he says. Matrixx has since pulled Zicam off the market. The stock was recently at about $5.55.

On Twitter, you can participate or just follow. With some fine-tuning, you can almost recreate the instant-messaging network that traders at hedge funds and investment banks use to communicate with each other.

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