Most traders are completely blown away by markets ability to close near 9 month high 3 days in a row????...all simplistic conclusions about this market had them all set for a full fledge correction of 5% or MORE or RETEST of LOWS as championed by many on CNBC.....
Some pundits have been changing their deadlines on a weekly basis for "dire results"...they are hoping & praying that they will be right sometime in a span of 6 months of "wrong predictions"..thus a need to move their dates forward....
Here is how the indices have done since we hit 9 months high...all numbers are based after today's close :
Dow Jones 09 HIGH 9124.91..close today 9070.72...Down a whopping 54.19 points or .59%..RSI 69.39
S&P500 09 HIGH 982.49..close today 975.15 Down a whopping 7.34 points or.75%..RSI 67.86
Nasdaq 09 High 1979.34..close today 1967.76 Down a whopping 11.58 points or .59%..RSI 71.55
The above stat proves that lot of predictions which are made daily about markets are "crapshoot"....when markets do not go down against all odds...then there IS a good CHANCE that it will "explode on the UPside"
AH GNK ER was a beat on both Sales & EPS.....they are suspending dividend & shares buyback as part of their covenant.....CC @ 830 AM.....
AH V reported a beat & guide Higher...but it is Down $1.01 ???
AH Futures are GREEN....
AH Gold & Silver are UP...
AH Nikkei UP .15% so far....
Green stocks included NDAQ,ICE,MA,C,BAC....
BLOG does NOT give buy or sell.
Saleem
11 comments:
SALEEM
thanks for hard work on the blog
Here is some news on GS;S&P Analyst Research Notes
S&P RAISES RECOMMENDATION ON SHARES OF GOLDMAN SACHS TO BUY FROM HOLD
Tuesday 07/14/2009 9:13 AM ET - Standard & Poor's Research Notes
Q2 earnings of $4.93 vs. May-Q FY 08 $4.58 beat our $2.82 estimate, despite commercial mortgage and real estate losses and TARP-related costs. GS benefitted from inexpensive funding, a surge in underwriting, and active clients. The firm was also able to hold costs down, aided by a lower headcount. We believe Goldman Sachs is gaining market share and benefiting from low cost funding, and will see continued strong results throughout '09. We are raising our '09 EPS estimate to $17.12 from $12.34, and upping our target price by $28 to $178, 10X our 12-month forward EPS estimate.
The shippers are supposed to have tough sledding for remainder of fy09. so says SP report
My FRO beet but not much of move because of negative sentiment IMHO
Best regards to all
Hi Madmax,
Thanks for your feedback....
As for shippers...I keep an eye on TAPE...IF it goes South then only I will be out....
GS will do well in current environment....
Saleem
GNK CFO today on Bloomberg:
http://www.youtube.com/watch?v=u1gQJSaCPGY
Hi Speed,
Thanks for posting link for GNK/ CFO...
Saleem
SALEEM
Good day to you
It is all green
GE broke 13 wow never expected that
GS is blasting up
GNK is up an d is FRO and DSX is up 2%
HooRah
Yahoo
Regards to all $$$$$$$$$$
Hi Madmax,
I am happy that GE got an upgrade from GS.....
Market is NOT looking good for Cramers short call...Art Cashin is facing serious credibility issues...
Saleem
WOW
Get on board with LVS
Hurray
My BMY is off the charts
Hurray
Regards to all
Hi All,
Sold Aug GE 14 calls.
Sold Aug V 70 calls.
Nice GS upgrade on GE.
V downgraded to neutral.
GNK should come back, selling on news.
Best Regards
Hi Standards,
Great moves on covered calls....
Not Happy with GNK tape....
Saleem
Hi Saleem,
Checking the message boards, no one else seems to know why GNK was sold off either. Maybe we get a boost late in the afternoon.
Best Regards
SALEEM
I am with you on GNK
Why the sell on the news?
Is some one unloading a big position? Manupilatin?
DSX and FRO are both up
I sold GE covered calls at 13 the other day, I will wait and see what I should do Perhaps close them on a down market day or just let em take the stock at $13 is 21 of August comes and it is still i the money.
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Regards to all
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