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Börsipäev 22. juuni - Palm +38%

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  • Rev Shark: 

    I have a very strong feeling that the opposite of love is not hate -- it's apathy. It's not giving a damn.  

    -- Leo Buscaglia  

    The best trading environment generally is one in which emotions are very strong. When the herd is especially greedy or fearful or euphoric or scared we tend to see powerful sustained moves. Strong feelings produce meaningful action and that makes it easier to profit from short-term movement.  

    Unfortunately, we have the total opposite of that right now. The primary emotions in the market at the moment are apathy and indifference. Market participants are neither optimistic nor pessimistic enough to move this market meaningfully in one direction or the other.  

    The justification for this apathy is that there is no reason to do anything until the FOMC acts, Iraq is handed over and earnings season starts. Until those things occur, there are no catalysts to move this market. But what is rather peculiar about that theory is that all those events are already widely anticipated. The market is a discounting mechanism that looks ahead and prices in events that are likely to occur. So why aren't these widely anticipated events already fully priced in?  

    Either they already are or the market is not sure how to value them. We all know that a .25% interest rate is likely on the way, so why would the market wait for it to occur before reacting to it? I believe that has already been priced in but that the market is still very uncertain about how the Iraq situation will unfold, and we aren't going to know that for a while.  

    That leaves the upcoming earnings season as the most likely driver for the market over the next few weeks. Last quarter we saw generally good reports go unrewarded, as they were largely anticipated. Is that the same case this quarter? Will forward guidance be good enough to boost stocks? Those are the primary things the market will be grappling with in the days ahead.  

    For now we have an apathetic trading environment and lots of random movement that makes it extremely difficult to do much of substance. All we can do is wait and hope for greater clarity.  

    After a weak finish yesterday we have a slight rebound this morning. We have some earnings reports to consider and generally they are pretty good, especially palmOne (PLMO:Nasdaq).  

    Asian markets traded mixed overnight. European indices were under a little pressure as oil stocks traded down. There is no economic news on the schedule today and it looks like we will continue to search for catalysts to react to.  

    Long PLMO

    G.B.Smith

     

     

  • palmOne's (PLMO) tuli siis eile õhtul välja tulemustega, mille kohaselt EPS on 0.32 USD analüütikute konsensuse 0.13 USD vastu.  

    Pluss eelturul ligineb +40%-le ...

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