US market ignored China stimulus package & closed RED.....
Markets are extremely lethargic lately...tries very hard to ignore positive news....
Only positive is that indices closed well above LOWS of the day.....
SOLD UYG & LVS......
LVS ER was a profit of 2 cents vs expectations of 11 cent profit...Sales were ahead of expectations...
LVS has financing in place for $2.14 Billion (details not announced yet) with several project delayed....
Portfolio is UYM & SOL......
BLOG does NOT give buy or sell.
Saleem
8 comments:
SALEEM
I am so sorry that LVS did NOT work for us
I had a bad felling when the news came on Bloomberg about gambling being down
I believe that if the market had been up we would have been ok
I guess I will sell it today too. Darn it.
Look at my Drys Shipping today--they had a fantastic show on Bloomberg about the shipping stocks going up from here! DSX was a pick-favorite! How about that.
My AAPL has been week and the whole market is just awful
Good luck to all
Happy Veterans day to all-and my Holiday!
Hi Madmax,
LVS tape & ER was a major negative.
Markets are awful so far.....
Good luck with your position.
Happy veterans day !!!
Saleem
HELLO all
IBD top ten listing:ocks Fall As Early Gains Fade
The major indexes reversed after a rally on China's stimulus plan and new AIG (AIG) aid quickly fizzled in the face of gloomy news from Circuit City, (CC) DHL and GM. (GM) The Nasdaq sank 1.9%, the S&P 500 1.3%, the NYSE composite 1.2% and the Dow 0.8%. Volume fell across the board as high-rated stocks were mostly quiet. A wide variety of consumer-related groups sold off. More
China Stimulus Fails To Thrill U.S.
Beijing's plans for a $586 bil economic stimulus buoyed regional and local bourses. Shanghai rose 7.3%, Hong Kong 3.5% and Japan 5.8%. Other Asian markets showed lesser gains. Europe started strong but faded as U.S. markets opened. It's not clear if China's big spend will benefit the U.S. economy, which was hit by more gloomy corporate news Mon. More
Circuit City Files For Bankruptcy
Shares of the No. 2 electronics retailer dived 60% to 10 cents a share on the likelihood that the Chap. 11 filing will wipe out their value. Bankruptcy raises the chances Circuit City will close more than the 155 of 700 stores it announced last week. More closures could help Best Buy, but the rival's stock fell slightly amid forecasts of a brutal holiday shopping season. More
AIG Gets More Aid; Big Q3 Loss
The U.S. gov't boosted its rescue package to $150 bil for the ailing insurer. The Treasury will take a $40 bil equity stake in American Int'l Group (AIG) and buy credit-default and mortgage-related debt. AIG lost $24.5 bil — $3.42 ex items, far worse than views. AIG shares rose as much as 35%, but settled for an 8% gain to 2.28. More
DHL To Cut 9,500 U.S. Jobs
The overnight-delivery giant also will end U.S.-only domestic express shipping, citing heavy losses. DHL's parent Deutsche Post employs over 25,000 workers in the U.S. Because of the restructuring, Deutsche Post said total losses at its U.S. Express business would reach $1.5 bil for the year. Rivals UPS (UPS) and FedEx (FDX) rose 3% on the news.
Cash Concerns Hammer GM
The automaker hit a 62-year low intraday and ended down 23% to 3.36 as several analysts downgraded General Motors (GM) on concerns it may run out of cash in early '09. Deutsche Bank cut its price target to zero, Barclays to $1. Plus GM said it plans to trim North American output through Q1, idling up to 5,500 hourly workers and taking a Q4 charge of at least $300 mil.
China Plan Boosts Commodities
Oil futures rose 2% to $62.41 a barrel, on views that China's stimulus plan would underpin prices. Data showed OPEC cut production by 210,000 barrels a day in Oct. But crude gave up an early $4 gain and briefly fell below $60 before closing higher. Natural gas futures sprung 7%. Gold jumped 2%. Silver and copper grabbed 3% gains. The dollar retreated.
Bush Hosts Pres.-Elect Obama
Pres. Bush welcomed Barack Obama to the White House, with the pair briefly posing for pictures with their wives before heading for a private meeting in the Oval Office. Neither addressed the media during the 2-hour visit. While the leaders met, Laura Bush gave Michelle Obama a tour of the first family's living quarters.
Baghdad Blast Targets Rescuers
A suicide bomber struck a crowd rushing to help schoolgirls trapped in a bus hit by an earlier bomb, killing at least 31. Another 71 people were injured in Baghdad's worst attack in 6 weeks, the Iraqi gov't said. No group claimed responsibility, but suspicion fell on al-Qaida in Iraq, which has made suicide bombings vs. Shiites its signature.
McDonald's Up On Rising Sales
The hamburger giant's Oct. global same-store sales rose 8.2% vs. a year before — not adjusted for currency swings — while many sit-down chains suffered steep declines. McDonald's (MCD) U.S. same-store sales rose 5.3%, helped by its Dollar Menu and breakfast items. Comps in Asia-Pacific, Mideast and Africa grew 11.5%, with Australia especially strong. McDonald's shares rose 2
In DRYS at 11.04.... This one is getting hammered... Ugly market, great deals...
Salute to Veterans!
Thank you for your courage and sacrifices for our countries.
I hope Circuit City has a going out of business sale! CC has been on the ropes for years, just hanging on by their finger nails.
GS was beaten down by negative analyst comments with a $135 target price? huh? Maybe time to nibble?
My personal business is on the ropes. Several competitors have closed shop this year. Remaining competitors are at a standstill since this summer. I've increased my advertising into next summer to keep the doors open (maybe).
Best Regards
Hi Standards,
Sorry to hear about difficult condition in your business.
Hopefully your marketing effort will bring business.
Markets are terrible.....
Saleem
Standard
Do not know what you do --but I wish you success
No one deserves to lose a business
I hope you make it OK!! Good Luck
This is one really tough market
thank you for your kind Veteran day thoughts
HELLO all
Do I see GREEN wow
Perhaps a green close for a change
My DSX, FRO and MON are climbig a wall of worry and getting green--I think
Go Green
Smile all
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