Wednesday, October 24, 2007
Strength in a shitbox
The sector of note are the exchanges, as NYX, CME, ICE, NMX and NDAQ show shorts the middle finger.
Also, it's worth noting, there is decent momentum in the following names:
PCAR, TWIN, DCO, JEC, ALJ, RS, VLO, GD, HANS, PLCE, PAS, RJF, BAGL, ATI, BTJ, HES, APL, SCON, WAG, CEPH, GENR, GENZ, SYUT, ZNH, CEA, SILC, CRI, ZRAN, VMW, MW, DISH, QLGC and NVLS.
As you know, stocks that don't go lower, in the face of rapid market decline, tend to do quite well when the fucker (general market) reverses. Needless to say, some of the above names are worth monitoring.
In short, the financials, once again, are toxic. If you happen to be long a broker, it makes sense to just cut it out-- and eat the loss like a fucking man.
Earnings season is a wonderful time for degenerate OTB guys to lose their rent money.
NOTE: TMTA is not gay.
but it ain't his style ... he lets them toss themselves down said shafts
back to your regularly scheduled market shellacking
note: market bottoms w/in 24 hrs for a one month rally
NEW YORK (AP) - Shares of chicken wing chain Buffalo Wild Wings Inc. dropped Wednesday after a Morgan Keegan analyst downgraded the stock, saying investors are already getting a fair value in the price.
Analyst Destin M. Tompkins cut his rating to "Market Perform" from "Outperform."
"While upside potential could remain, with the shares up 25 percent in the last 45 days and potential operating headwinds on the horizon, we believe the shares appear fairly valued at recent levels," he said in a note to investors.
Tompkins said he expects the company to report strong third-quarter results, with earnings per share growth of 30 percent and revenue growth of 19 percent. The company is slated to report its quarterly results after the market closes Nov. 30.
The analyst added that even if Buffalo Wild Wings reports better-than-expected results, the current share price has already factored in that possiblity.
Shares fell $2.94, or 7.2 percent, to $37.79 in midday trading.
Life does NOT get much better than that!
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