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Börsipäev 10. august

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  • Rev Shark:

    Market's Enemy: Indifferent Investors
    8/10/2005 8:28 AM EDT

    "Talent is nothing but a prolonged period of attention and a shortened period of mental assimilation."

    -- Konstantin Stanislavisky

    The biggest problem facing this market is investor disinterest. We have had a good run, earnings season is winding down, there are only a few more weeks to enjoy a summer vacation and we are in a seasonally weak time of the year. Throw in the fact that investors are still uncertain about how hawkish the FOMC will be in battling inflation and you have an environment with unfocused investors and some significant unresolved issues.

    There aren't a whole lot of major negatives out there other than the price of oil and some upward pressure on interest rates, but until investors become more focused and interested in the market we are going to have a hard time.

    This investor malaise is evident in the technological conditions of the indices. We have lost upside momentum and breadth has been generally poor, and the big-caps have been attracting more interest lately as investors seek safety.

    A market like this can be quite frustrating to trade because much of the movement is random. It can be especially dangerous if you trade some of the thinner small-cap stocks. The folks who are inclined to move stocks around have an easier time of it and it isn't unusual to have your stops hit just in time to see your stock reverse course.

    The way to deal with this market is to stay patient, keep time frames short and focus on higher-odds trades. Don't let boredom and slow trading entice you into making trades just to stay active.

    We have a positive open on the way. Asian markets were particularly strong as exporters reacted favorably to the FOMC rate hike and a weaker dollar. Oil hit a new high overnight and gold is up on the weak dollar.

    Gary B. Smith:

  • Gapping Up

    Gapping up on strong earnings/guidance: SMSI +6%, CELL +6%, AIG +2.5%.... Other News: BIDU +5% (up in sympathy with Yahoo's investment in Chinese e-commerce operator Alibaba.com), MSTR +3.5% (files 10-Q), ILSE +7% (Wachovia Upgrade), DPH +7% (JP Morgan upgrade), CKCM +3% (bounces after 27% drop yesterday), QCOM +3% (Morgan Stanley upgrade), OVTI +2.7% (collaborates with NASA), CHT +2% (privatizes with $2.56 bln US share offer), RMTI +25% (positive patent news).... Under $3: TMTA +48% (reports JunQ), QEE +21%.

    Gapping Down

    Gapping down on disappointing earnings/guidance: CSCO -3.7%, SNDA -8%, CURE -34%, CSPI -33%, SRVY -31% (also multiple downgrades: Piper, Lehman, FBR), ECST -25% (also Merriman downgrade), ATAR -24%, HDTV -22%, MED -17%, LOUD -15%, SYMM -13%, NSTC -9%, ITWO -6%, RNAI -6%... Other News: BXXX -13% (prices offering), ONXX -5% (Pfizer submits application for competing drug Sutent, also gets fast-track designation), NIHD -4% (announces convertible offering), GILD -2.3% (says combo HIV drug fails to work as hoped), AMZN -1.4% (Legg Mason downgrade), HC -1.7% (prices offering at $14.25).
  • Nii kena päev turul ja nii vaikne :) Suvepuhkused ka kohalike turutriljonärideni jõudnud?
    Olgu siis kasvõi tühjas toas protokollitud, et nafta käis $65 juures ära ja shortimine oli täna tulus tegevus.

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