Markets are chugging along nicely to new record HIGHS inspite of concerns about economy & consumers spending.
Housing market weakness indirectly will contain inflationary spending...which is very good for stock markets.
Slower GDP growth because of housing weakness will restrain fed from doing anything about interest rate and later part of the year will actually CUT interest rate.
All this bodes well for stock market going forward.
MA is looking good.
RIMM showing sign of strength.
INFY,GRMN ,HPQ,VLO,NDAQ & LRCX also strong.
AH NVTL reported good earnings.
SOHU reported declining EPS & guidance was soft on EPS.SOHU is reporting margin pressure all around.Ad revenue came in better but margin there was also under pressure on a Q/Q basis.SOHU margin pressure is also affecting SINA & CHINA AH.
Among the weak stocks are exchange NMX,ICE & NYX & Internet GOOG,YHOO.
NTRI,WFR,FMCN,SNDK,AKAM ,GROW,CTRP,WYNN are weak.
Tommorrow I am expecting a rebound in Solar,Gold,Oil & base metal stocks...they are all OVERSOLD.
Technology may show some strength tommorrow also.
LVS reports before open..stock is @ lower end of the trading range.
Good luck on your trading.
Please do your OWN due diligence.Stay diversified.
BLOG does not give buy or sell.BLOG is for educational purpose ONLY.
Saleem
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