TAPE is reacting to same old same old September Tapering talk.
S&P 500 @ 1696.39, low 1693.29
Internals are negative by minimum 2 to 1
Oil Down $1.64
Gold Down $21.10
Canadian $ Down 12 tick @ 96.30
VIX UP 6.25% @ 12.58
In my portfolio :
Bought 10 call KORS $72.50 expiring this Friday for 25 cents
Portfolio CLF F MU AUY KORS calls
Most stocks are down
@ 2.01 following are green :
KORS MKTG GMCR NFLX TIF LULU
EXPE KOG EBAY BIDU PCLN MA
HMC SNDK WLT Z......
BLOG does NOT give buy or sell.
Saleem
5 comments:
Hey Saleem,
The Z conference call left me with the impression that we're still in 2010. All they want to do is drive traffic still and are willing to spend whatever advertising dollars and give away free tools in order to get it. Now, this might be skewed by what TRLA looked like, but I think we're a little past that stage for these home sites.
They don't plan to have paid CRM software like TRLA, they want to continue building their rental area without partners, and they didn't rule out a share offering in the future. These are some of the differences in philosophy that makes me like TRLA better, especially with the valuation discrepancy. Also, it seems like the large Z advertising spend is helping everyone in the space and may be diluting the quality of Z's visitors. They talked a lot in the beginning how great they are compared to their competitors, almost like a war--I'm not sure how productive that is, but maybe it motivates them.
Overall, I don't see an upcoming catalyst for driving shares, so I'd guess they tread water in the $80s for a while or even pull back a bit more after this large run.
Stocktrader
Hey Saleem,
I hope to check out CSOD's conference call replay tonight. I'd really like to get an idea for business momentum and competitive landscape.
On a side note, we are starting to prepare for an out-of-town weekend wedding with us leaving Thursday night.
Stocktrader
Hi Stocktrader,
Thanks for your take on Z cc.
Their result is impacting TRLA in AH also.
CSOD is down slightly.
Enjoy wedding, we will hear from you when you get back.
Saleem
Hey Saleem,
I'm hoping I can delay our departure long enough to hear MODN's call late Thursday afternoon. They are one of the companies I really have no indication on how well things are going because there's really no competitors to view.
Stocktrader
Hi Stocktrader,
MODN TAPE is strong & was UP today...based on this you should be more than fine......try to put this out of focus & enjoy celebration...
Saleem
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