Markets moved UP again not pleasing those who are praying for it to go down......
Internals were much more stronger than the close.....
Advancing stocks leading decliners by 2 to 1 in NYSE & 14 to 11 in Nasdaq
UP volume were leading by 3 to 1 in NYSE & Nasdaq.....
12 & 29 new highs.......
AH Dell reported which was a miss on revenue but beat on EPS...UP 16 cents AH on 2.63 million shares...they do not give guidance and are predicting tough IT environment.....
AH MRVL reported in-line EPS of 5 cents and beat in Sales....
Guiding much higher in EPS 10 cents vs 7 cents consensus and Sales of $560 million vs consensus of $532.2 million.....reward for all this Down 41 cents on 1.48 million shares....i do expect many upgrades.....CEO made cautionary comments re euphoria about a rebound in economy...they are much more cautious about 2nd half......my guess they are playing UPOD for coming Q......
AH Futures are mini RED...
Nikkei is mini GREEN.....
Many strong stocks participated in today's rally..Techs,Financials,Oil,Bulk Dry shippers,Ag & select Solars......
BLOG does NOT give buy or sell.
Saleem
4 comments:
Hi Saleem,
Thank-you for all your on the money guidance! With the dollar continuing to fall won't that put pressure on equities and would you buy some gold as a hedge. thanks charlie
Hi Charlie,
Thanks for your appreciative note !!!
I have been short US$ for a long time....it is working like a charm..
Yes GLD is a good way to benefit...other good stock to consider is KGC...based on relative valuation.
Saleem
Saleem,
I am still holding GNK. However, most companies in shipping sector has issued shares. Do you think GNK would follow soon? Thanks.
Michael
Hi Michael,
GNK cash position is $175.79 million...which is plenty....
IF..they ever decide to do a secondary ...it will be more for corporate reason..like acquisition..
I say ..enjoy the ride UP $$$$
Saleem
Post a Comment