Indices were dealing with economic data & commentary from Fed...neither of which were encouraging...BUT...indices held up much better .....
Internals were weaker than indices for two days in a row...a healthy retracement.....
Nasdaq has been the weakest ......
In my portfolio :
Sold VXX
Portfolio is BCSI,EGO,LRCX....
Sentiment is turning bearish again as Doug Kass went neutral,Brian Kelly adding shorts,Dennis Gartman in panic & Joe Terranova is short gold......I love doing opposite of CNBC gurus....
AH NVDA warned Down 6.81%..AH volume 4.24 million
AH AKAM ER was a downer..Down 5.06%..AH volume 1.57 million
AH LRCX Q4 ER was a major beat on Sales & EPS..guidance for Q1 was way better than consensus as listed below :
Sales.... consensus $669.7 million.... Guidance $790 million..guidance higher by $120.3 million
EPS.... consensus 98 cents...guidance $1.35....guidance higher by .37 cents
AH stock UP 34 cents..AH volume 30,649....expect many upgrades & good TAPE action on Thursday...
Before Open EGO reports...EPS should be above consensus & guidance as per consensus....
AH Futures Mixed
AH Asian market Mixed
AH Oil Down
AH Gold UP
BLOG does NOT give buy or sell.
Saleem
5 comments:
SALEEM
Great call on EGO!! $$$$$$$
APPLE is green today--get some
my NLY is red--hmmmm
still have the two pigs CIEN and RFMD. I can not even get back to even
Looking for action on my GE shares
Hoping for some love there--smile
Best to all
Saleem
News on tankers
FRO OSG GMR TNP SFL
LONDON (MarketWatch) -- J.P. Morgan reshuffled its ratings on tanker companies, upgrading Frontline (FRO 32.34, +0.39, +1.22%) and Overseas Shipholding Group (OSG 40.26, +0.73, +1.85%) to overweight from underweight and General Maritime Corp. (GMR 5.86, -0.04, -0.68%) to overweight from neutral. The broker also downgraded Tsakos Energy Navigation (TNP 14.26, -0.21, -1.45%) and Ship Finance International (SFL 19.36, +0.19, +0.99%) to underweight from neutral and Capital Product Partners (CPLP 8.97, +0.04, +0.45%) to neutral from overweight. The broker said it expects the spot market exposure of Frontline, OSG and General Maritime to help them outperform peers as rates start to recover in the fourth quarter of 2010.
Hi Madmax,
Thanks for your feedback.
It is a stock pickers market....knowing individual companies well should pay off...
Now..it is different..all boats are not being lifted..contrary many boats are sinking....
I decided to go with BIDU instead of AAPL today.....
Saleem
ASIA is beaten down a lot today. Is ths over reaction or a good entry.
I like IPI and CSTR.
Hi Raj,
ASIA guidance must be the trigger for this $6+ downdraft....
Yes..it is overdone.....
Market is very choppy & does not like lackluster guidance..especially that ASIA was moving up in anticipation.
Saleem
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