Thursday, November 01, 2007
Sector Spotlight: Financials
In general, the financials are nightmares, run by maniacs who are better suited for local OTB's-- than large money centers.
As usual, following a Fed meeting, we are being whipsawed, with the major indices shaving the skin off of investors.
As for me, business as usual. One of my stellar performers, albeit small, posted numbers last night at around 11:30pm. Who the fuck does that anyway?
Needless to say, the stock is down 8 bucks.
And, as most of you know, MVIS will be reporting numbers, after today's trading. Don't expect much. Typically after earnings, MVIS trades lower. It's almost a given, unfortunately.
By the way, it looks like most of the financials are going bankrupt, with "Frankensized" losses in BBX, ETFC, C, PJC, BCS, FHN, FCS, CCRT, JPM, MER, COF, GHL, FBC, FIG, NAL, FMT, etc.
I think two or three of my stocks are up, one being Chinese, of course. Scratch that, the fat fuckers from BWLD just went green. Yeah baby.
How's CROX. Good, no?
Back to the electric chair.
For what it's worth, I bought more at 101.50 today. The low (and growing) market penetration of PND's should ensure that their current run continues at least through 2008.
Jeremy (the other Jeremy)
What do you mean MVIS is 'coming down the home stretch'? Did you here something or is it just a general comment? Meaning what?
but they dine today & 1/2 of tomorrow
That is some pretty cursed shit.
Maybe my voodoo Dr. put some sort of hex on my computer.
After tonight's earnings, MVIS has nothing but good news, till CES.
That's what I meant.
Bucking is the right term for SRS. Lots of hard landings and sudden up and no real trend in recent months.
I believe that the hangover from the period of easy money will eventually hit the assets underlying the IYR index, and SRS will benefit.
Meanwhile, I can count on looking like an idiot 2 days a week for owning SRS. I look like a genius 1 day a week. The other 2 days, nothing happens and I just think of it as a hedge.
I used to think that the benefit of owning SRS is that the pain of being wrong would be very quick. I have since learned that quick pain is reserved for real stocks that have something called earnings.
(I wonder if that's what contrarian investing, in it's purist form, is all about.)
Looks like they will fill the SECOND gap (this gap thing is unbelievable, no?) that is coincident with a bottom of $47.50 and the 50% long term fib line.
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