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IDS World Markets Thurs 22nd October 09


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A few more reports for break-fast today (pun intended) :P

 

MMM EPS -5% sales -5.6%

T EPS -19% sales -1.5%

UPS EPS -43% sales -15%

NYT EPS -600% (gain to loss) sales -17% (fire 'em all - no one wants to read that crap)

MCD McEPS +9.5% McSales -3.5% (see what raising prices will do - and there is no inflation)

PLD EPS -105% sales -73% (companies can't ditch their warehouses fast enough)

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Great results on STX yesterday and nobody wanted the stock. A warning shot across the bows yes but appl had a technical breakout after earnings on good volume. So I dunno. Guess it will go with the mkt.

 

Let's see where AAPL close tomorrow.

If it closes at 200 by tomorrow that's going to be one hell of a fake out breakout on the weekly.

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Let's see where AAPL close tomorrow.

If it closes at 200 by tomorrow that's going to be one hell of a fake out breakout on the weekly.

 

I might short it today since its a long way down if it cracks.

 

LOL. You are turning me into a top caller.

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This kind of reporting just irks me. From the IBD newspaper this am:

 

"The mood turned junk-yard dog ugly with the next bit of news.

Influential banking anal cyst Richard Bove of Rochdale Securities triggered the sharp selling with a downgrade. He slashed Wells Fargo to sell from hold.

From that moment, the indexes moved rapidly south."

 

How do you put your finger on one anal cyst and blame him for a rout? That's just ridiculous. If it wasn't him, it would have been something else. Same thing today, there will be a catalyst of some sort to blame for the selling that's coming.

 

What's worse, and I hate to criticize IBD because I owe them my trianing and they typically provide fantastic services, but they changed their Market Outlook to "Uptrend under pressure" which is a signal to momo-junkies to stop buying and consider taking some profits. That is a huge disservice in light of just one man's analysis of one company. I'm not implying I think the markets will go higher; they may have it right this time. But the facts are they've been whip-sawed into changing their market outlook 6 times now since the rally started. I guess if they do this enough sooner or later they get it right (and then they can brag about it in their commercials <_< ).

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