Friday, September 29, 2006
Magnet & Gemma Hayes: Lay Lady Lay
Closing Comments
Today was a great day for the bears, as the momentum seems to have moved to the sellers corner, albeit on very light volume. I feel strongly that a pullback is long overdue.
It's also worth noting, ISM data will be released Monday morning and will likely set the tone for the markets. Anything under 50 will send the market reeling.
During today's session, considerable weakness was found in high multiple tech, while strength was abundant in commodity based stocks and drugs.
As for me: I had a very good day, up more than 2.5%-- as RIMM gapped up and RACK broke down. For the quarter, I performed exceptionally well, up 9.76%-- putting my YTD return at 23.6%.
Due to end of the quarter paperwork, I will not run my daily screens-- simply too busy.
See you Monday.
NOTE: Cramer's AAP is still down -1.75% YTD, even though the market has gone superbull. Buy, buy, buy; Sell, sell, sell. No buy. No Sell. No Sell-Buy. No Buy-Sell. Mooooooooooo!
BoooYahhhh.
It's also worth noting, ISM data will be released Monday morning and will likely set the tone for the markets. Anything under 50 will send the market reeling.
During today's session, considerable weakness was found in high multiple tech, while strength was abundant in commodity based stocks and drugs.
As for me: I had a very good day, up more than 2.5%-- as RIMM gapped up and RACK broke down. For the quarter, I performed exceptionally well, up 9.76%-- putting my YTD return at 23.6%.
Due to end of the quarter paperwork, I will not run my daily screens-- simply too busy.
See you Monday.
NOTE: Cramer's AAP is still down -1.75% YTD, even though the market has gone superbull. Buy, buy, buy; Sell, sell, sell. No buy. No Sell. No Sell-Buy. No Buy-Sell. Mooooooooooo!
BoooYahhhh.
Late Day Thought
The new high cheerleaders have been stomped out like a cigarette butt.
NOTE: My end of the day post will be delayed-- due to end of quarter paperwork.
NOTE: My end of the day post will be delayed-- due to end of quarter paperwork.
Quick Alert: I Switched to Bloomberg
I did it!
I finally turned those fuckers from CNBC off-- for good. Here I am watching the monotone, yet insightful Bloomberg talking heads, and I feel at ease.
Give it a try. You will thank me later.
As for the market: blah.
Everyone is stupefied, unable to determine the markets next move. With my money: I feel content with a long/short blend, with a trading bias to the downside.
My best guess is for decisive action early next week.
I finally turned those fuckers from CNBC off-- for good. Here I am watching the monotone, yet insightful Bloomberg talking heads, and I feel at ease.
Give it a try. You will thank me later.
As for the market: blah.
Everyone is stupefied, unable to determine the markets next move. With my money: I feel content with a long/short blend, with a trading bias to the downside.
My best guess is for decisive action early next week.
Fly Buy: DNA
I bought 1,000 DNA @ $82.97.
October Seasonality
As some of you know, I have seasonality reports prepared, every month, to help identify sector or specific stock trends. Here is what I highlighted for September. For the most part, with the exception of YHOO, the list was pretty good.
Here is a short list of potential winners for October:
(years up/years down) (Average % gain)
STU: 11-2: 4.6%
GS: 6-1: 6.2%
JEF: 6-1: 5%
SYNA: 4-0: 27.2%
CTSH: 7-1: 20.7%
ULCM: 5-1: 5.9%
AMKR: 6-2: 21%
DRIV: 7-1: 17.2%
MTSN: 9-3: 11.8%
POWI: 6-2: 17.4%
NTAP: 8-2: 17.4%
CTXS: 9-1: 17.1%
INFY: 6-1: 16.4%
CELL: 7-2: 15.9%
STMP: 6-0: 18.8%
RIMM: 5-2: 8%
MSFT: 13.7: 5.4%
CNXT: 6-1: 6.3%
ISIL: 5-1: 9.9%
RMBS: 7-2: 5.7%
CORI: 5-1: 24.9%
JNPR: 5-2: 31.6%
TWX: 11-5: 5.7%
SMMX: 5-1: 4.9%
FFIV: 6-1: 37.6%
QLGC: 9-3: 23.3%
AMCC: 6-2: 22.9%
FDRY: 5-2: 24.2%
INTC:14-6: 2.9%
DISK: 12-3: 16.7%
NT: 14-6: 11.6%
CSCO: 13-3: 10.2%
TLAB: 14-6: 11.4%
MRX: 12-2: 10.8%
PGNX: 6-2: 10.6%
JNJ: 15-5: 3.1%
SGP: 16-4: 3.2%
PFE: 15-5: 2.3%
MW: 11-3: 7.7%
COH: 5-0: 12.8%
WAG: 15-5: 3.9%
DIS: 17-3: 3%
GPS: 17-3: 6.7%
BEBE: 6-2: 7.7%
SBUX: 10-4: 7.4% (Best Month)
HOTT: 8-2: 12.1%
GMCR: 7-2: 12.3%
HNZ: 16-4: 2.9%
CL: 14-6: 5.2% (Best Month)
SYY: 17-3: 3.9%
PBG: 6-1: 7% (Best Month)
CPB: 15-5: 3.2%
PEP: 17-3: 3.9% (Best Month)
CPO: 8-0: 8.6%
MTRX: 13-3: 6.2%
GMXR: 4-1: 10%
Q: 8-1: 13.4%
RG: 9-2: 12.3%
TEF: 4-0: 13%
EIX: 16-4: 4.8%
Here is a short list of potential winners for October:
(years up/years down) (Average % gain)
STU: 11-2: 4.6%
GS: 6-1: 6.2%
JEF: 6-1: 5%
SYNA: 4-0: 27.2%
CTSH: 7-1: 20.7%
ULCM: 5-1: 5.9%
AMKR: 6-2: 21%
DRIV: 7-1: 17.2%
MTSN: 9-3: 11.8%
POWI: 6-2: 17.4%
NTAP: 8-2: 17.4%
CTXS: 9-1: 17.1%
INFY: 6-1: 16.4%
CELL: 7-2: 15.9%
STMP: 6-0: 18.8%
RIMM: 5-2: 8%
MSFT: 13.7: 5.4%
CNXT: 6-1: 6.3%
ISIL: 5-1: 9.9%
RMBS: 7-2: 5.7%
CORI: 5-1: 24.9%
JNPR: 5-2: 31.6%
TWX: 11-5: 5.7%
SMMX: 5-1: 4.9%
FFIV: 6-1: 37.6%
QLGC: 9-3: 23.3%
AMCC: 6-2: 22.9%
FDRY: 5-2: 24.2%
INTC:14-6: 2.9%
DISK: 12-3: 16.7%
NT: 14-6: 11.6%
CSCO: 13-3: 10.2%
TLAB: 14-6: 11.4%
MRX: 12-2: 10.8%
PGNX: 6-2: 10.6%
JNJ: 15-5: 3.1%
SGP: 16-4: 3.2%
PFE: 15-5: 2.3%
MW: 11-3: 7.7%
COH: 5-0: 12.8%
WAG: 15-5: 3.9%
DIS: 17-3: 3%
GPS: 17-3: 6.7%
BEBE: 6-2: 7.7%
SBUX: 10-4: 7.4% (Best Month)
HOTT: 8-2: 12.1%
GMCR: 7-2: 12.3%
HNZ: 16-4: 2.9%
CL: 14-6: 5.2% (Best Month)
SYY: 17-3: 3.9%
PBG: 6-1: 7% (Best Month)
CPB: 15-5: 3.2%
PEP: 17-3: 3.9% (Best Month)
CPO: 8-0: 8.6%
MTRX: 13-3: 6.2%
GMXR: 4-1: 10%
Q: 8-1: 13.4%
RG: 9-2: 12.3%
TEF: 4-0: 13%
EIX: 16-4: 4.8%
Sector Spotlight: Semiconductors
Today is a very good day for me, considering I am long RIMM (from $50-$75) and its up $17 to $103.
Last year I thought fair value for the stock was $125, now I have to dig through the new numbers and revise my target. More on that later.
As for the market, its as top heavy as Dolly Pardon. But, as we all know, that doesn't mean jack when you have money being managed by men with the IQ's of a smart 7th grader.
All the economic data that has been coming out bodes poorly for the economy, with the exception of today's Chicago PMI. Furthermore, I really can't imagine Bernanke cutting interest rates as early as December. That just seems to nucking futs to me.
The semi's are mostly to the downside with pockets of strength in oversold stocks, such as: SLAB, TXCC, CMOS, GNSS and ANAD.
My technician tells me the SOX looks very top heavy and could lead the momo to the downside. We will see.
NOTE: After early gains, on positive comments from the fuckers at Thomas Weisel, RACK has rolled over into the red. And, partly thanks to Cramer, DIVX is still running.
UPDATE: This is for the guy who doubts my ownership of RIMM.
Again, here, here, here and here.
NOTE: How's that ^, bitch?
The following Semiconductor stocks have absolutely no mojo:
SPIL -3.7%
TER -3.4%
FORM -2.6%
AMKR -2.3%
EGLS -2.3%
Last year I thought fair value for the stock was $125, now I have to dig through the new numbers and revise my target. More on that later.
As for the market, its as top heavy as Dolly Pardon. But, as we all know, that doesn't mean jack when you have money being managed by men with the IQ's of a smart 7th grader.
All the economic data that has been coming out bodes poorly for the economy, with the exception of today's Chicago PMI. Furthermore, I really can't imagine Bernanke cutting interest rates as early as December. That just seems to nucking futs to me.
The semi's are mostly to the downside with pockets of strength in oversold stocks, such as: SLAB, TXCC, CMOS, GNSS and ANAD.
My technician tells me the SOX looks very top heavy and could lead the momo to the downside. We will see.
NOTE: After early gains, on positive comments from the fuckers at Thomas Weisel, RACK has rolled over into the red. And, partly thanks to Cramer, DIVX is still running.
UPDATE: This is for the guy who doubts my ownership of RIMM.
Again, here, here, here and here.
NOTE: How's that ^, bitch?
The following Semiconductor stocks have absolutely no mojo:
SPIL -3.7%
TER -3.4%
FORM -2.6%
AMKR -2.3%
EGLS -2.3%
Thursday, September 28, 2006
Naughty By Nature - Everything's Gonna be Alright
Closing Comments
I want to clarify something.
I am not as bearish as you may think. I have far more assets deployed long than short. Furthermore, those positions will not be sold anytime soon-- they are long term.
Additionally, this week I bottom fished and bought cheap stock in CORS, VLO, DNA, CSWC, and VSTH. Also, I added to an existing position in GILD. So, understand, the market making new highs doesn't hurt me-- it helps. However, I am afraid of the momo buyers pushing this market too far, resulting in a steeper-than-needed decline in the market-- whenever the air is let out.
As for today, I am glad the market did not close at new highs. As a matter of fact, I think it would be fun to watch the cheerleaders on CNBC-- cheerlead for another month. Think Ground Hog Day (the movie).
Today's action was good, as semiconductors surged ahead by 1.4%. Conversely, energy stocks, after posting early gains, reversed down 0.2%-- as investor sentiment remains very bearish on the group.
I anticipate more of the same tomorrow, as managers put the finishing touches on their sales literature. As for next week, I expect a whirlwind of selling to hit high multliple tech's, sending the bulls frantically running for cover in a sea of red-- as the bears maul everything in sight and conquer Wall Street.
Yeah right!
The following stocks had notable upside moves:
GBVS, WBD, MCM, DYS, COSI, MECA, MTRX, CVCO, ALX, RMIX, RIN, HAN, XOHO, ACP, PWX, URRE, NGAS, PGS, EWST, EDNE, PYR, CMX, SCU, END, ARTW, DVSA, TIV, STP, TEC, ENER, TGC, MEK, CRIS, ONXX, NABI, MDV, NTMD, OSIP, LCBM, NFLD, INHX, NRPH, THLD, ABBI, FOXH, RGEN, DSCO, BCRX, APT, WGAT, ICCA, HSTM, EWEB, VSTY, EBAY, ELOY, MIVA, IGLD, HAUP, LQDT, CACS, CHDX, ZNH, CNTF, CBA, FTGX, SFNT, MTZ, AKAM, TIII, OPTC, RVBD, DIVX, PWER, INPH, DBRN, HOTT, SKS, IX, OLED, WEDX, CATS, CTCH, IGTE, HILL, CPCI, BOBJ, AMKR, RMTR, BRCM, EGLS, OVEN, OIIM, QSND, SANZ, STEC, PDSN, VIV, ATNI, CTEL, LCCI, SEED, NYX, CPII, OMRI, TRGT, CVLT, MXWL, ALGN, HIST, CBAK, RECN, ZILA, TALK, CORT, UQM, TRT, DDD, CAO, ACN, GMT, XNR, SRX, STM, VSH and RHI.
The following stocks had notable downside moves:
FACT, DIT, ASEI, CRDN, DRYS, RAIL, CFK, GGR, QTWW, MCEL, MXC, TMY, ENY, HOKU, BDSI, BBC, BMRN, IIIN, KOOL, GPRO, LONG, SRVY, TSCM, OSTK, WBMD, ITRA, ANSW, CNVR, NETL, ZHNE, TXCC, GLBC, TKO, GIGM, CIEND, AGR, CTRN, SANYY, TVIA, THQI, ASTSF, AEHR, ISON, VRGY, IOTN, BITS, HIMX, ASX, TAR, PGWC, SWIR, CWCO, CTCM, ATEC, PGTI, PRST, DLPX, KRSL, ZICA, XTLB, MKTY, INVX, NURO, AM, ILMN, NVTL, TSAI, AXO, KRY, EZM, IFX, POL, DOX and BGO.
I am not as bearish as you may think. I have far more assets deployed long than short. Furthermore, those positions will not be sold anytime soon-- they are long term.
Additionally, this week I bottom fished and bought cheap stock in CORS, VLO, DNA, CSWC, and VSTH. Also, I added to an existing position in GILD. So, understand, the market making new highs doesn't hurt me-- it helps. However, I am afraid of the momo buyers pushing this market too far, resulting in a steeper-than-needed decline in the market-- whenever the air is let out.
As for today, I am glad the market did not close at new highs. As a matter of fact, I think it would be fun to watch the cheerleaders on CNBC-- cheerlead for another month. Think Ground Hog Day (the movie).
Today's action was good, as semiconductors surged ahead by 1.4%. Conversely, energy stocks, after posting early gains, reversed down 0.2%-- as investor sentiment remains very bearish on the group.
I anticipate more of the same tomorrow, as managers put the finishing touches on their sales literature. As for next week, I expect a whirlwind of selling to hit high multliple tech's, sending the bulls frantically running for cover in a sea of red-- as the bears maul everything in sight and conquer Wall Street.
Yeah right!
The following stocks had notable upside moves:
GBVS, WBD, MCM, DYS, COSI, MECA, MTRX, CVCO, ALX, RMIX, RIN, HAN, XOHO, ACP, PWX, URRE, NGAS, PGS, EWST, EDNE, PYR, CMX, SCU, END, ARTW, DVSA, TIV, STP, TEC, ENER, TGC, MEK, CRIS, ONXX, NABI, MDV, NTMD, OSIP, LCBM, NFLD, INHX, NRPH, THLD, ABBI, FOXH, RGEN, DSCO, BCRX, APT, WGAT, ICCA, HSTM, EWEB, VSTY, EBAY, ELOY, MIVA, IGLD, HAUP, LQDT, CACS, CHDX, ZNH, CNTF, CBA, FTGX, SFNT, MTZ, AKAM, TIII, OPTC, RVBD, DIVX, PWER, INPH, DBRN, HOTT, SKS, IX, OLED, WEDX, CATS, CTCH, IGTE, HILL, CPCI, BOBJ, AMKR, RMTR, BRCM, EGLS, OVEN, OIIM, QSND, SANZ, STEC, PDSN, VIV, ATNI, CTEL, LCCI, SEED, NYX, CPII, OMRI, TRGT, CVLT, MXWL, ALGN, HIST, CBAK, RECN, ZILA, TALK, CORT, UQM, TRT, DDD, CAO, ACN, GMT, XNR, SRX, STM, VSH and RHI.
The following stocks had notable downside moves:
FACT, DIT, ASEI, CRDN, DRYS, RAIL, CFK, GGR, QTWW, MCEL, MXC, TMY, ENY, HOKU, BDSI, BBC, BMRN, IIIN, KOOL, GPRO, LONG, SRVY, TSCM, OSTK, WBMD, ITRA, ANSW, CNVR, NETL, ZHNE, TXCC, GLBC, TKO, GIGM, CIEND, AGR, CTRN, SANYY, TVIA, THQI, ASTSF, AEHR, ISON, VRGY, IOTN, BITS, HIMX, ASX, TAR, PGWC, SWIR, CWCO, CTCM, ATEC, PGTI, PRST, DLPX, KRSL, ZICA, XTLB, MKTY, INVX, NURO, AM, ILMN, NVTL, TSAI, AXO, KRY, EZM, IFX, POL, DOX and BGO.
Late Day Thought
Quick Alert: Dip Buyers Out and About
I have accepted the fact that "dip-buyers" are my natural enemy. However, I admire their tenacity and care free attitude, while investing billions upon billions of dollars.
With that being said, I seriously doubt this rally is being sponsored by fund mangers who like to "window dress," at quarters end. If so, then they are crazier than anyone could ever imagine.
Bottom line: The market is going up because Bob Pisani said so.
With that being said, I seriously doubt this rally is being sponsored by fund mangers who like to "window dress," at quarters end. If so, then they are crazier than anyone could ever imagine.
Bottom line: The market is going up because Bob Pisani said so.
Fly Buy: DNA
I bought 1,000 DNA @ $81.45.
Fly Buy: GILD
I bought 1,000 GILD @ 67.78.
Quick Alert: Gold Breaking Out
Gold looks like its starting to catch its footing, like oil. As a result, we are seeing impressive moves in prescious metal stocks, such as: VGZ, KGC and GG.
Personally, I own the GLD and shy away from gold stocks. Its more of an asset class diversification investment for me. Therefore, I eliminate the possibility of fake copper mines or ponzi schemes made in Canada and Australia.
Personally, I own the GLD and shy away from gold stocks. Its more of an asset class diversification investment for me. Therefore, I eliminate the possibility of fake copper mines or ponzi schemes made in Canada and Australia.
Sector Spotlight: Energy
Now that the asshats on CNBC got their new high, shockingly the market is selling off. It's almost as if the traders pushed the DOW up just to shut those fuckers up.
Today we have a mixed picture, so far. However, I do believe the intra-day bias is to the downside. Plus, I have started to notice the analyst downgrades coming down the pipe on key tech names, such as: AMD, SNDK, NTES and JBL.
On top of that, we received poor economic data today, with the 2nd qt. GDP numbers coming in at 2.6%-- 0.3% less than expected. However, its worth noting, 2.6% kicks Europes ass and is still pretty good.
Finally, we are seeing most of today's early gains in the SOX, up 1%. There are no big standouts in the semi's, just across the board green.
As for oil:
I suspect the market bulls/oil bears will attempt to drive oil stocks lower today. Already, we are seeing weakness in TSO, VLO, HOC and SUN. However, overall the sector is showing strength and I suspect the oil patch dip buyers might try to press the sellers to fuck off.
The following Energy stocks have mojo:
ENER +8.4%
IOC +5.3%
PGS +3.5%
SII +2.8%
SPWR +2.3%
JOYG +2.1%
Today we have a mixed picture, so far. However, I do believe the intra-day bias is to the downside. Plus, I have started to notice the analyst downgrades coming down the pipe on key tech names, such as: AMD, SNDK, NTES and JBL.
On top of that, we received poor economic data today, with the 2nd qt. GDP numbers coming in at 2.6%-- 0.3% less than expected. However, its worth noting, 2.6% kicks Europes ass and is still pretty good.
Finally, we are seeing most of today's early gains in the SOX, up 1%. There are no big standouts in the semi's, just across the board green.
As for oil:
I suspect the market bulls/oil bears will attempt to drive oil stocks lower today. Already, we are seeing weakness in TSO, VLO, HOC and SUN. However, overall the sector is showing strength and I suspect the oil patch dip buyers might try to press the sellers to fuck off.
The following Energy stocks have mojo:
ENER +8.4%
IOC +5.3%
PGS +3.5%
SII +2.8%
SPWR +2.3%
JOYG +2.1%
Wednesday, September 27, 2006
The Verve: Bittersweet Symphony
Closing Comments
Is it just me, or did you get the strange feeling that Bob Pisani will be masturbating to his Wall Street Journal when the DOW hits an all-time high?
Today was a gee-golly great day for the market, as it marches towards brand new highs!
Additionally, the market is ignoring bad economic data and will likely go straight up, forever, like MNCS.
Oh, by the way, the spike in oil today was not real. As we all know, oil is heading down to $50 by Halloween and MRVL is going to blow-the-fucking-doors off Wall Street's consensus.
Seriously, I believe the market is in the process of topping. Despite what the shit-shovelers say, stocks are richly valued and are going into the 3rd quarter earnings season- priced for perfection.
What happens when a stock is priced for perfection and disappoints?
Answer: RHAT -23%.
As for me: I am holding my RACK short and believe, despite what HQ believes, they are going to have margin issues-- within 6 months. Also, I bought more VLO and feel the stock has 10 points of upside and 4 down. Keep in mind, net-net, I am still long the market. These are some of my positions.
Today's gains were led by Oil, Gold and Biotech stocks.
Losses were found in Tech, Brokers and Homebuilders.
The following stocks had notable upside moves:
NKZ-WT, FMD, CORS, JAVO, THI, JSDA, NAFC, MRFD, DCBI, HOOK, MECA, PHHM, GVA, CLB, EAGL, RAMS, EXM, DRYS, GGR, URRE, ABLE, USEG, XNL, CFK, PLLL, HOC, VLO, DWSN, TSO, STO, NFX, SU, GEOI, NXY, MRO, ARTW, PEIX, AVR, VSE, BEXP, CPE, GDP, OMNI, MWP, GLBL, GMXR, DVSA, DNE, BDCO, KFX, BTJ, BRNC, BHI, NEU, TEC, EGY, FXEN, NGS, MILL, ALJ, WNR, BLDP, DK, FTO, GGY, RRC, ZEUS, AAUK, RTP, DNA, AOB, NKTR, CELG, AVNR, STGN, BDSI, SEPR, ISIS, NTMD, ONXX, ALKS, VRTX, FOXH, NMTI, ABBI, ISRG, ARNA, THLD, SVA, GNBT, NVAX, BCRX, GOAM, LONG, HSTM, MIVA, NTES, VGZ, HL, AUY, GG, KGC, PAAS, SA, EZM, GM, ANSW, ITRA, HAUP, GLBC, AMCC, ADCT, DPW, MRVC, TIII, TKO, DIVX, GNET, FDRY, LTRX, NETL, RVBD, MRVL, WJCI, TRBM, OPTC, INPH, VTEK, BNG, BAMM, GPS, SRR, JCG, SANYY, MTU, OLED, OPSW, THQI, DGIN, BOBJ, CRYP, VIGN, RMTR, EMKR, ATHR, AEHR, ACTG, CNXT, LSCC, BITS, COGO, IVAC, GRMN, MTSN, VSEA, QSND, CHRT, OVRL, WDC, CLEC, ECIL, CCOI, CALL, GRRF, KONG, IIT, NOIZ, IDCC, SWWC, EDP, CWCO, WCRX, CLAY, ATEC, VNDA, PRLS, NCST, SUMT, HEPH, ARWR, MECA, MDTL, OZN, RWC, NXG, TRT, FUL, FBP, ATU, SLW, HL and EYE.
The following stocks had notable downside moves:
ITG, LAB, CFC, FIZ, CMG, FZN, TOA, BHS, WCI, SPF, DEVC, CHB, TARR, HOV, TIN, CRDN, STST, ESLR, ERS, HSR, ELOS, YMI, BBC, VSTA, CAMH, CNU, VZ, WGAT, OSTK, EDGR, BCSI, AQNT, MNST, WBSN, LQDT, JADE, PCTI, LVLT, ORCT, EQIX, RACK, AVCI, EGHT, TWTR, CACH, ZUMZ, RHAT, ATAR, AMKR, DSTI, NVEC, SWKS, IRSN, MVIS, HIMX, AATI, FALC, DTLK, INPC, LTBG, PGWC, TPC, MR, TWLL, ACOR, MDCC, WOR, CECO, UQM, MII, BE, LCC, F, and HGR.
Today was a gee-golly great day for the market, as it marches towards brand new highs!
Additionally, the market is ignoring bad economic data and will likely go straight up, forever, like MNCS.
Oh, by the way, the spike in oil today was not real. As we all know, oil is heading down to $50 by Halloween and MRVL is going to blow-the-fucking-doors off Wall Street's consensus.
Seriously, I believe the market is in the process of topping. Despite what the shit-shovelers say, stocks are richly valued and are going into the 3rd quarter earnings season- priced for perfection.
What happens when a stock is priced for perfection and disappoints?
Answer: RHAT -23%.
As for me: I am holding my RACK short and believe, despite what HQ believes, they are going to have margin issues-- within 6 months. Also, I bought more VLO and feel the stock has 10 points of upside and 4 down. Keep in mind, net-net, I am still long the market. These are some of my positions.
Today's gains were led by Oil, Gold and Biotech stocks.
Losses were found in Tech, Brokers and Homebuilders.
The following stocks had notable upside moves:
NKZ-WT, FMD, CORS, JAVO, THI, JSDA, NAFC, MRFD, DCBI, HOOK, MECA, PHHM, GVA, CLB, EAGL, RAMS, EXM, DRYS, GGR, URRE, ABLE, USEG, XNL, CFK, PLLL, HOC, VLO, DWSN, TSO, STO, NFX, SU, GEOI, NXY, MRO, ARTW, PEIX, AVR, VSE, BEXP, CPE, GDP, OMNI, MWP, GLBL, GMXR, DVSA, DNE, BDCO, KFX, BTJ, BRNC, BHI, NEU, TEC, EGY, FXEN, NGS, MILL, ALJ, WNR, BLDP, DK, FTO, GGY, RRC, ZEUS, AAUK, RTP, DNA, AOB, NKTR, CELG, AVNR, STGN, BDSI, SEPR, ISIS, NTMD, ONXX, ALKS, VRTX, FOXH, NMTI, ABBI, ISRG, ARNA, THLD, SVA, GNBT, NVAX, BCRX, GOAM, LONG, HSTM, MIVA, NTES, VGZ, HL, AUY, GG, KGC, PAAS, SA, EZM, GM, ANSW, ITRA, HAUP, GLBC, AMCC, ADCT, DPW, MRVC, TIII, TKO, DIVX, GNET, FDRY, LTRX, NETL, RVBD, MRVL, WJCI, TRBM, OPTC, INPH, VTEK, BNG, BAMM, GPS, SRR, JCG, SANYY, MTU, OLED, OPSW, THQI, DGIN, BOBJ, CRYP, VIGN, RMTR, EMKR, ATHR, AEHR, ACTG, CNXT, LSCC, BITS, COGO, IVAC, GRMN, MTSN, VSEA, QSND, CHRT, OVRL, WDC, CLEC, ECIL, CCOI, CALL, GRRF, KONG, IIT, NOIZ, IDCC, SWWC, EDP, CWCO, WCRX, CLAY, ATEC, VNDA, PRLS, NCST, SUMT, HEPH, ARWR, MECA, MDTL, OZN, RWC, NXG, TRT, FUL, FBP, ATU, SLW, HL and EYE.
The following stocks had notable downside moves:
ITG, LAB, CFC, FIZ, CMG, FZN, TOA, BHS, WCI, SPF, DEVC, CHB, TARR, HOV, TIN, CRDN, STST, ESLR, ERS, HSR, ELOS, YMI, BBC, VSTA, CAMH, CNU, VZ, WGAT, OSTK, EDGR, BCSI, AQNT, MNST, WBSN, LQDT, JADE, PCTI, LVLT, ORCT, EQIX, RACK, AVCI, EGHT, TWTR, CACH, ZUMZ, RHAT, ATAR, AMKR, DSTI, NVEC, SWKS, IRSN, MVIS, HIMX, AATI, FALC, DTLK, INPC, LTBG, PGWC, TPC, MR, TWLL, ACOR, MDCC, WOR, CECO, UQM, MII, BE, LCC, F, and HGR.
Late Day Thought
Position Updates: VSTH
The weakness in VSTH is attributed to their contract with Myspace.com expiring on 9/30.
I believe Myspace represents more than 30% of their revenues.
Although I love VSTH and consider them a mini AKAM, I am getting a bit nervous on the news blackout, regarding Myspace.
On the flipside, if the contract gets renewed, the stock should spike.
I believe Myspace represents more than 30% of their revenues.
Although I love VSTH and consider them a mini AKAM, I am getting a bit nervous on the news blackout, regarding Myspace.
On the flipside, if the contract gets renewed, the stock should spike.
Quick Alert: Semi's Weakening
This morning, the semi's roared out of the gate like the fucking Tazmanian devil looking for food. However, as the fuckers on the floor keep their eyes pinned for new all-time highs on the DOW, the SOX is quietly selling off.
Don't get me wrong. The semi's are still up nearly 1% and many are steam rolling the bears to the pavement, such as: MRVL, ATHR and NETL. My point is to keep a close eye for a reversal.
Bottom line: Beware of the dip buyers, they are assholes. But, someday soon, the market will go down. I promise.
UPDATE: The semi's have reversed to the downside. It's also worth noting considerable weakness in AMKR, -10%.
Even though AMKR looks insignificant, they are a big part of the semiconductor manufacturing base. They are the second biggest test/packaging company in the space, after ASTSF. When shit is bad at AMKR, it usually means the foundries are weak. When the foundries are weak, that usually means the end user (consumer) is not buying stuff.
Keep a close eye on AMKR and ASTSF.
Don't get me wrong. The semi's are still up nearly 1% and many are steam rolling the bears to the pavement, such as: MRVL, ATHR and NETL. My point is to keep a close eye for a reversal.
Bottom line: Beware of the dip buyers, they are assholes. But, someday soon, the market will go down. I promise.
UPDATE: The semi's have reversed to the downside. It's also worth noting considerable weakness in AMKR, -10%.
Even though AMKR looks insignificant, they are a big part of the semiconductor manufacturing base. They are the second biggest test/packaging company in the space, after ASTSF. When shit is bad at AMKR, it usually means the foundries are weak. When the foundries are weak, that usually means the end user (consumer) is not buying stuff.
Keep a close eye on AMKR and ASTSF.
Fly Buy: VLO
I bought 5,000 shares of VLO @ $51.31.
Happy New Years!
Oh, sorry. I was watching CNBC and got the impression it was New Year's eve on the floor. Today is September 27th, 2006 for those of you who are confused.Damn, now I have to go put all this stuff back.
Sector Spotlight: Networkers
The bulls are hell bent on dragging the DOW to a new all-time high, despite bad durable goods numbers. Frankly, the bears are weak pussies and will not stand in the way of a charging bull. The only way for the bear to win, is to let the bull run out of energy. Now, where the bulls exhaust themselves is the million dollar question.
Today, we are seeing upside across the board, with exception to the drug/biotech sectors. The hottest sector is definitely the Networkers, led by GLBC (added to Goldman's conviction list), FNSR, DIVX (Cramer pump, but a very good company), FDRY and ADCT.
With my money: I like the action in CORS. This stock has been ripped to shreds in recent months, mainly due to its exposure to the condo market. However, at these levels, with a 4.5% dividend, I think it's a steal.
As for RACK: Well, they got a downgraded to sell by Matrix Research, based upon valuation.
No.Fucking.Kidding.
The following Networker stocks have mojo:
GNET +12.3%
DIVX +11.4%
FDRY +6.5%
GLBC +6.3%
WJCI +4.9%
AFOP +3.4%
ADCT +2%
Today, we are seeing upside across the board, with exception to the drug/biotech sectors. The hottest sector is definitely the Networkers, led by GLBC (added to Goldman's conviction list), FNSR, DIVX (Cramer pump, but a very good company), FDRY and ADCT.
With my money: I like the action in CORS. This stock has been ripped to shreds in recent months, mainly due to its exposure to the condo market. However, at these levels, with a 4.5% dividend, I think it's a steal.
As for RACK: Well, they got a downgraded to sell by Matrix Research, based upon valuation.
No.Fucking.Kidding.
The following Networker stocks have mojo:
GNET +12.3%
DIVX +11.4%
FDRY +6.5%
GLBC +6.3%
WJCI +4.9%
AFOP +3.4%
ADCT +2%
Position Updates: RACK
Rackable Systems downgraded to sell:
Rackable Systems-RACK downgraded to Sell from Hold on valuation@Matrix Research
Rackable Systems-RACK downgraded to Sell from Hold on valuation@Matrix Research
Tuesday, September 26, 2006
Miles Davis & John Coltrane- So What
Closing Comments
It's a perfect world. Everything is working.
The market is at new high's because the economy is doing great. Coupled with lower oil/gas prices, many anticipate the consumer to hit a grand slam, even though there are only two runners on base.
Frankly, this run is likely to continue, until we get bad data-- that points to extreme weakness in the economy. If we do not get that rally killing news item, there is no reason why the DOW cannot go to 12,000 and the Naz to 2,400.
The reason why I have been so skeptical is due to the countless failed rallies over the last 5 years, with the exception of 2003.
But, the great run of 2003 was different. We were coming out of a "recession" and on the road to recovery. Now, we are in a slowing environment where stocks usually have trouble meeting earnings expectations.
Bottom line: Despite all the rosy talk, the 3rd quarter earnings and guidance will be the deciding factor for the direction of stocks in 2006.
Today's gains were led by the Metals, Trannies, and Oil stocks.
UPDATE: JBL BEAT EXPECTATIONS
UPDATE II: RHAT IN LINE; STOCK DOWN
UPDATE III: DBRN BEAT EXPECTATIONS; GUIDANCE RANGE LOWERED
UPDATE IV: PAYX BEAT EXPECTATIONS; LIGHT ON REV'S.
UPDATE: V: BE WARNED.
The following stocks had notable upside moves:
ISE, LAB, FACT, ITG, LEND, CORS, DIT, TSN, TARR, CHCI, SPF, MTH, HOV, GVA, TOA, AXR, CHB, MTRX, FZN, STST, HAN, DE, RMIX, FDX, TEX, BHP, BBI, XOHO, QLTY, CSX, EAGL, PWX, FDX, OSG, PACR, YRCW, LSTR, LVS, URRE, BQI, JOYG, NGAS, BUCY, SUN, PKD, NXY, STKL, WRES, SU, USEG, HOC, TSO, ANR, ECA, BRY, MRO, CFK, EP, IFNY, UPL, GEOI, VLO, PCZ, OMNI, BEXP, FSYS, CWEI, SWN, GMRK, GSX, WEL, OII, CAM, MWP, DRQ, MPET, SFY, GMR, AVR, ARTW, KFX, BRNC, ERF, CNQ, BDCO, ERS, TIE, ATI, STLD, NTO, NUE, X, PCU, RTI, FCX, BOOM, PD, SATC, BMD, WNR, FTO, ALJ, PQ, MIND, TARO, AVNR, GTOP, ALKS, YMI, NTMD, NSTK, CEPH, SIGA, BCRX, CRXL, VICL, GNBT, NENG, EBAY, WSSI, MFE, DIS, INTC, SIFY, GG, ABX, VGZ, KGC, SA, ITRA, WBMD, ECLG, BNSO, ATCO, ANTP, FNSR, TUTS, FTGX, TKO, FFIV, SMDI, NAYN, EXTR, TRBM, RBAK, RACK, FDRY, DBRN, CROX, BKRS, SHRP, BID, FORD, ESST, DGIT, OPWV, ATVI, ININ, ATAR, RNOW, NWRE, IBIS, COHU, TSRA, OVEN, MVIS, PAY, IVAC, ORA, LCRD, DISK, CLEC, TNE, TBH, BTM, TAR, MDLK, JCOM, MSEX, ELE, ENI, EOC, SBS, NYX, MR, LUNA, LOOP, NSTR, DXPE, ACOR, ANOR, EPCT, FNET, CECO, NAPS, SHRP, CCUR, CDY, CLG, MNG, EZM, KRY, RS, LEA, SPN, RGR, JLG and BPT.
The following stocks had notable downside moves:
PJC, JJSF, SAM, MFW, DENN, EXP, INTG, PHHM, WLT, BMHC, MDV, KOSP, SUF, DSTI, KOOL, NMTI, TRCA, CPHD, MO, ELOY, DIET, ARTG, WGAT, SRVY, WEBX, LQDT, INCX, CNTF, CTDC, JRJC, CAAS, APAT, CIEN, SONS, INPH, MIKR, ONT, SRR, CACH, NDN, OLED, LPL, CRYP, ADSK, PER, BEAS, AEHR, VECO, IMOS, AMKR, TUNE, EGLS, AMD, PMCS, MFLX, PLXT, IMX, AIXG, DTLK, HTCH, CHL, PGWC, WCRX, MWA, TRGT, EGLT, MXWL, MERX, CYTR, TTMI, AVID, INVX, LCUT, PME, HA, GRS, EYE, BFT, PNR, JTX, HET, WLT and NRG.
The market is at new high's because the economy is doing great. Coupled with lower oil/gas prices, many anticipate the consumer to hit a grand slam, even though there are only two runners on base.
Frankly, this run is likely to continue, until we get bad data-- that points to extreme weakness in the economy. If we do not get that rally killing news item, there is no reason why the DOW cannot go to 12,000 and the Naz to 2,400.
The reason why I have been so skeptical is due to the countless failed rallies over the last 5 years, with the exception of 2003.
But, the great run of 2003 was different. We were coming out of a "recession" and on the road to recovery. Now, we are in a slowing environment where stocks usually have trouble meeting earnings expectations.
Bottom line: Despite all the rosy talk, the 3rd quarter earnings and guidance will be the deciding factor for the direction of stocks in 2006.
Today's gains were led by the Metals, Trannies, and Oil stocks.
UPDATE: JBL BEAT EXPECTATIONS
UPDATE II: RHAT IN LINE; STOCK DOWN
UPDATE III: DBRN BEAT EXPECTATIONS; GUIDANCE RANGE LOWERED
UPDATE IV: PAYX BEAT EXPECTATIONS; LIGHT ON REV'S.
UPDATE: V: BE WARNED.
The following stocks had notable upside moves:
ISE, LAB, FACT, ITG, LEND, CORS, DIT, TSN, TARR, CHCI, SPF, MTH, HOV, GVA, TOA, AXR, CHB, MTRX, FZN, STST, HAN, DE, RMIX, FDX, TEX, BHP, BBI, XOHO, QLTY, CSX, EAGL, PWX, FDX, OSG, PACR, YRCW, LSTR, LVS, URRE, BQI, JOYG, NGAS, BUCY, SUN, PKD, NXY, STKL, WRES, SU, USEG, HOC, TSO, ANR, ECA, BRY, MRO, CFK, EP, IFNY, UPL, GEOI, VLO, PCZ, OMNI, BEXP, FSYS, CWEI, SWN, GMRK, GSX, WEL, OII, CAM, MWP, DRQ, MPET, SFY, GMR, AVR, ARTW, KFX, BRNC, ERF, CNQ, BDCO, ERS, TIE, ATI, STLD, NTO, NUE, X, PCU, RTI, FCX, BOOM, PD, SATC, BMD, WNR, FTO, ALJ, PQ, MIND, TARO, AVNR, GTOP, ALKS, YMI, NTMD, NSTK, CEPH, SIGA, BCRX, CRXL, VICL, GNBT, NENG, EBAY, WSSI, MFE, DIS, INTC, SIFY, GG, ABX, VGZ, KGC, SA, ITRA, WBMD, ECLG, BNSO, ATCO, ANTP, FNSR, TUTS, FTGX, TKO, FFIV, SMDI, NAYN, EXTR, TRBM, RBAK, RACK, FDRY, DBRN, CROX, BKRS, SHRP, BID, FORD, ESST, DGIT, OPWV, ATVI, ININ, ATAR, RNOW, NWRE, IBIS, COHU, TSRA, OVEN, MVIS, PAY, IVAC, ORA, LCRD, DISK, CLEC, TNE, TBH, BTM, TAR, MDLK, JCOM, MSEX, ELE, ENI, EOC, SBS, NYX, MR, LUNA, LOOP, NSTR, DXPE, ACOR, ANOR, EPCT, FNET, CECO, NAPS, SHRP, CCUR, CDY, CLG, MNG, EZM, KRY, RS, LEA, SPN, RGR, JLG and BPT.
The following stocks had notable downside moves:
PJC, JJSF, SAM, MFW, DENN, EXP, INTG, PHHM, WLT, BMHC, MDV, KOSP, SUF, DSTI, KOOL, NMTI, TRCA, CPHD, MO, ELOY, DIET, ARTG, WGAT, SRVY, WEBX, LQDT, INCX, CNTF, CTDC, JRJC, CAAS, APAT, CIEN, SONS, INPH, MIKR, ONT, SRR, CACH, NDN, OLED, LPL, CRYP, ADSK, PER, BEAS, AEHR, VECO, IMOS, AMKR, TUNE, EGLS, AMD, PMCS, MFLX, PLXT, IMX, AIXG, DTLK, HTCH, CHL, PGWC, WCRX, MWA, TRGT, EGLT, MXWL, MERX, CYTR, TTMI, AVID, INVX, LCUT, PME, HA, GRS, EYE, BFT, PNR, JTX, HET, WLT and NRG.
Late Day Thought
The bears have been bankrupted by the consumer. He's on fire.
Want to See Something Amazing?
Whoever is controlling this stock is pretty cool. However, he or she will inevitably end up in jail.
What do you think?
Check out this chart.
Clarification: It has NEVER been down on a weekly basis, EVER.
What do you think?
Check out this chart.
Clarification: It has NEVER been down on a weekly basis, EVER.
Fly Buy: CORS
I bought 5,000 shares of CORS @ $21.60
Quick Alert: Oil Bouncing
As oil bounces here, the overall market sells off. Is it that simple?
Have we come to a point where in order to have a rally, we must see oil down?
If so, then we are likely to endure extreme volatility over the next few months. I do not believe the oil story is dead, unlike everyone on CNBC. To believe that oil is going down to $50 or lower and the market is going to blast off to new high's because everyone is so fucking happy is folly.
Right now, everyone is pricing in a dramatic decrease in oil. What if that doesn't happen? What if this recent decline is temporary and oil heads back to $75, then what?
Answer: The market gets hammered, oil stocks go up.
So, for now, I will stubbornly hold my shorts and consider adding to VLO, as the technicals improve.
Have we come to a point where in order to have a rally, we must see oil down?
If so, then we are likely to endure extreme volatility over the next few months. I do not believe the oil story is dead, unlike everyone on CNBC. To believe that oil is going down to $50 or lower and the market is going to blast off to new high's because everyone is so fucking happy is folly.
Right now, everyone is pricing in a dramatic decrease in oil. What if that doesn't happen? What if this recent decline is temporary and oil heads back to $75, then what?
Answer: The market gets hammered, oil stocks go up.
So, for now, I will stubbornly hold my shorts and consider adding to VLO, as the technicals improve.
Sector Spotlight: Semiconductors
I know, I know, the market is going higher and I am missing out. Well, that's not entirely true-- since I have many long positions. Nonetheless, my trading positions are getting pimp smacked by Mother Market, again.
Today, the markets look strong, as the consumer (via the consumer confidence index) appears to be in good spirits. As a result, we are seeing a broad rally, led by Homebuilder and Transport stocks. The only notable weakness is found in the SOX. However, after such a big run up yesterday, a little pullback should not worry the bulls.
For now, I intend on throwing food stuffs at my computer screen and throwing my chair around the office, while torturing myself by watching CNBC.
The following Semiconductor stocks have mojo:
TSRA +2.6%
AXTI +2.6%
EMKR +2.4%
MTSN +2.1%
CNXT +2.1%
SMDI +2%
Today, the markets look strong, as the consumer (via the consumer confidence index) appears to be in good spirits. As a result, we are seeing a broad rally, led by Homebuilder and Transport stocks. The only notable weakness is found in the SOX. However, after such a big run up yesterday, a little pullback should not worry the bulls.
For now, I intend on throwing food stuffs at my computer screen and throwing my chair around the office, while torturing myself by watching CNBC.
The following Semiconductor stocks have mojo:
TSRA +2.6%
AXTI +2.6%
EMKR +2.4%
MTSN +2.1%
CNXT +2.1%
SMDI +2%
Monday, September 25, 2006
Beck: Loser
Closing Comments
If you are short RACK, like me, consider yourself lucky. You could have been getting your fucking ass kicked all over Wall Street in AKAM, LRCX, RMBS and dozens of other high multiple places of pleasure. Hell, I can take -2.7% standing on my head, juggling two small monkey's, while reading Cramer shovel shit on RealMoney.
Heck, this market could care less about fundamentals. Consider the recent run in the homebuilders, despite the bad numbers, then stick your head in the freezer and slam the door shut.
The thing that annoys me is how wrong the delightful dip buyers are. I'll bet my head versus theirs, the semi's roll into the third quarter earnings season with 2 legs, 2 arms and a head and roll out with just one-big- stupid- head.
Fuckers.
UPDATE: PMCS warned after the close.
UPDATE II: AVID warned.
UPDATE III: MERX warned.
UPDATE IV: LOW warned.
NOTE: Today, I will not run my most up/most down screen in protest of market stupidity.
Heck, this market could care less about fundamentals. Consider the recent run in the homebuilders, despite the bad numbers, then stick your head in the freezer and slam the door shut.
The thing that annoys me is how wrong the delightful dip buyers are. I'll bet my head versus theirs, the semi's roll into the third quarter earnings season with 2 legs, 2 arms and a head and roll out with just one-big- stupid- head.
Fuckers.
UPDATE: PMCS warned after the close.
UPDATE II: AVID warned.
UPDATE III: MERX warned.
UPDATE IV: LOW warned.
NOTE: Today, I will not run my most up/most down screen in protest of market stupidity.
Late Day Thought
Dylan Ratigan aka "The Commissioner" is nucking futs.
Quick Alert: Market Running Away
This market is steam rolling the sellers, as everything is busting loose, circa 1999 or 2003. Moreover, words cannot explain how incredibly fucktarded I feel for being wrong, again, on this move.
This move is broad and thoroughly bitch slapping the shorts into a state of stupor. We are seeing absurd moves in AKAM, EQIX, KNOT and any company that is remotely related to tech and/or high mulitple.
Look, I have called this move exactly wrong, so please refrain from taking my warning shots seriously. Think of it as entertainment in the form of high level stupidity.
This move is broad and thoroughly bitch slapping the shorts into a state of stupor. We are seeing absurd moves in AKAM, EQIX, KNOT and any company that is remotely related to tech and/or high mulitple.
Look, I have called this move exactly wrong, so please refrain from taking my warning shots seriously. Think of it as entertainment in the form of high level stupidity.
Fly Sell: ADBE
I sold 21,000 shares of ADBE @ $38.14.
Fly Sell: RACK
I sold short 5,000 RACK @ $27.10.
Fly Sell: TUG
I sold 2,000 shares of TUG @ $36.67.
Sector Spotlight: Semiconductors
Despite what the fuckers on CNBC say, I feel the market is going to head lower.
Too much optimism, coupled with the end of the third quarter equals lower stocks. At least, I believe it to be the case.
Think about it. If you were running money and got poleaxed on your oil positions (as many did) and had two weeks to make the money back, else your partners or clients would get their statements and leave your pathetic top ticking ass: What would you do?
Answer: Buy tech and say a prayer. (The quarter ends this Friday)
Now, what if you bought tech, specifically RACK @ $22, and (by miracle) saw the turd run up to $28: What would you do?
Answer: Sell and thank God for his grace.
Be careful of end of the quarter bullshit. The talking heads on CNBC (U.S.) are always bullish, because its good for ratings. If you want fair and balanced commentary, I suggest watching CNBC Asia or Europe.
Anyway, keep a close eye on the semi's. MSCC warned. SNDK got a Merril downgrade (fuck you Merril). And, the SOX is dangerously close to rolling over. Additionally, we are officially in earnings warning season. Therefore, we could get an "October surprise" at any time.
Now, to be fair and despite my armageddon demeanor, the markets are green today (UPDATE: Just went red) and there is lots of strength in the select tech names, such as AAPL, LRCX, XMSR, AUO and GOOG. My point is to be careful of two card monty.
NOTE: Please take the new "Fly Survey." Are you bullish or bearish on the markets?
The following semiconductor stocks are showing some mojo:
AATI +4.4%
INTT +3.1%
RMBS +2.9%
LRCX +2.5%
ASX +2.4%
The following semiconductor stocks are showing absolutely no mojo:
MSCC -12.3%
NVEC -6.1%
NEXT -5.5%
SNDK -3.8%
SIRF -2.6%
Too much optimism, coupled with the end of the third quarter equals lower stocks. At least, I believe it to be the case.
Think about it. If you were running money and got poleaxed on your oil positions (as many did) and had two weeks to make the money back, else your partners or clients would get their statements and leave your pathetic top ticking ass: What would you do?
Answer: Buy tech and say a prayer. (The quarter ends this Friday)
Now, what if you bought tech, specifically RACK @ $22, and (by miracle) saw the turd run up to $28: What would you do?
Answer: Sell and thank God for his grace.
Be careful of end of the quarter bullshit. The talking heads on CNBC (U.S.) are always bullish, because its good for ratings. If you want fair and balanced commentary, I suggest watching CNBC Asia or Europe.
Anyway, keep a close eye on the semi's. MSCC warned. SNDK got a Merril downgrade (fuck you Merril). And, the SOX is dangerously close to rolling over. Additionally, we are officially in earnings warning season. Therefore, we could get an "October surprise" at any time.
Now, to be fair and despite my armageddon demeanor, the markets are green today (UPDATE: Just went red) and there is lots of strength in the select tech names, such as AAPL, LRCX, XMSR, AUO and GOOG. My point is to be careful of two card monty.
NOTE: Please take the new "Fly Survey." Are you bullish or bearish on the markets?
The following semiconductor stocks are showing some mojo:
AATI +4.4%
INTT +3.1%
RMBS +2.9%
LRCX +2.5%
ASX +2.4%
The following semiconductor stocks are showing absolutely no mojo:
MSCC -12.3%
NVEC -6.1%
NEXT -5.5%
SNDK -3.8%
SIRF -2.6%
Position Updates: TUG
Two things:
1. Damn I regret selling some of my TUG.
2. Damn I regret selling some of my TUG.
NOTE: Other tanker stocks might bet a boost- VLCCF, GMR, TOPT, ALEX
1. Damn I regret selling some of my TUG.
2. Damn I regret selling some of my TUG.
Overseas Shipholding Grp-OSG to acquire Maritrans-TUG for $455 millionOverseas Shipholding Group, Inc. (OSG) and Maritrans Inc. (TUG) jointly announced today that they have entered into a definitive merger agreement pursuant to which OSG will acquire Maritrans Inc., a leading U.S. Flag crude oil and petroleum product shipping company that owns and operates one of the largest fleets of double hull vessels serving the East coast and U.S. Gulf coast trades. Under the terms of the merger agreement, unanimously approved by the Boards of Directors of each company, OSG will acquire Maritrans in an all-cash transaction for $37.50 per share. The transaction is valued at approximately $455 million based on approximately 12 million shares outstanding and the assumption of net debt outstanding as of June 30, 2006. OSG will finance the acquisition through a combination of available cash and borrowings under existing credit facilities. The transaction is expected to be immediately accretive to OSG's earnings per share, before considering any transaction synergies.
NOTE: Other tanker stocks might bet a boost- VLCCF, GMR, TOPT, ALEX
