Todays market turned sharply lower on a very bad ER from CAT......which nobody on wall street was ready for.......
Markets hates "surprise"....and CAT was a big one......
GOOG was already discounted...as markets worldwide were sharply UP........
10 yr Bond yield has slumped to 4.948 %...as it is a beneficiary of a flight to safety......as CAT is signalling a "slowdown in US economy"
Leading home builder is NOW PREDICTING...that housing SLUMP will not bottom out until end of 2008........another surprise for wall street & me.......as most were expecting bottom in housing by end of 2007.......
As I write this post @ 1105 AM.....Dow is down 127 and Nasdaq is down 28.......
SNDK which is currently Up $2.84...on many upgrades on targets & estimates.....rest of my portfolio is DOWN......
PMCS is also Up on strong earnings.......
AAPL is UP on increase price target ..a new 52 week HIGH....
Among the few green are :
SIRF,JNPR,ICE,CMED,CTRP,STX,LRCX,NVDA,MR,ISRG(great ER).
With all the "surprises" and OE....looks like a WEAK close today......
BLOG does not give buy or sell.
Saleem
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