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Börsipäev 6.september

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  • Pärast 23.juuli Sharm el-Sheiki terrorirynnakuid on Nasdaq lõpetanud 6 reedet 6-st miinuses ja neljal korral alustanud esmaspäeva suure ülesgapiga. Nii paistab ka täna juhtuvat.
  • Ning pärast pikka nädalavahetust täna jälle chat täies hoos. Kõik oodatud!
  • Rev Shark:

    Market's Siren Song Grows Louder
    9/6/2005 8:52 AM EDT

    "The worst sorrows in life are not in its losses and misfortunes, but its fears."

    -- A. C. Benson

    Despite the massive suffering and substantial economic losses caused by Hurricane Katrina -- along with a steady flow of bad news including record high crude oil prices, a cooling housing market, downbeat comments from Alan Greenspan, a mediocre economy and interest rate pressures -- the market has barely even shrugged. If you simply looked at the indices you would have no idea that anything bad is occurring in the world.

    Is this a market in denial or are things better than the headlines would lead us to believe? It is extremely difficult to be too trusting of the market at this point, but on the other hand it is acting well. The buyers have been out there and now that the summer vacation season is ending, many hope that the big boys will be back at work and in a buying mood.

    Yes, the market acted well last week but the technical picture does not justify a bullish embrace. The bounce last week helped relieve oversold conditions and it certainly seems like a major positive given all of the bad news, but the market is not out of the woods technically. In fact, this looks like one of the market's perverse efforts to hurt as many people as possible by enticing them back in before suddenly deciding to reverse.

    I'm in a bit of a quandary about this market and am going to move slowly to start the week. There is no denial of the healthy action in face of brutal news but you have to wonder if this buying can be sustained as we enter the slowest time of the year and grapple with a host of negatives. One big positive is that there seems to be quite a bit of negativity out there and that means folks are not positioned for a rally, but the Wall of Worry looks almost too steep to allow us to make much upside progress.

    We'll have to give this market the benefit of the doubt for now but we definitely can not be too trusting. This is going to be a tricky environment and the best thing we can do is be ready to move quickly.

    The early strength this morning is starting to slow but a post-holiday gap up always makes me wary. Oil and gold have recovered a big from early weakness and overseas market are generally positive.

    Thanks to Charles and Cody for doing an excellent job in my absence last week. I appreciate it.

    Gary B. Smith:

  • Gapping Up

    DXPE +15% (low float hurricane play debuts on IBD 100), ICGE +10.8% (announces that LinkShare unit to be acquired), GV +9% (continues to find interest as hurricane play), NPSP +8.9% (Lehman upgrade), IDNX +6.9% (wins 3-year exclusive Texas contract), WMGI +5.5% (First Albany upgrade), TIBX +5.5% (CSFB upgrade), AVID +5% (OpCo upgrade), PDLI +4.9% (First Albany upgrade), FNSR +4.3% (sees carryover momentum from Friday's upgrade related rally), NOVL +2.2% (CSFB upgrade), PALM +2% (Needham upgrade), TEVA +2% (BRL and TEVA launch generic allegra tablets), ABS +2% (CIBC upgrade), CSCO +1.7% (Lehman upgrade), CHIR +1.6% (call Novartis bid inadequate).

    Gapping Down

    LGNDE -7.7% (NASDAQ Panel Denies Ligand Request for Additional Filing Extension), FUEL -6.8% (profit-taking following recent run; stock rallied 85% within 2 days after being highlighted on Briefing Trader), CME -1.2% (Jefferies downgrade), CAT -0.7% (Merrill downgrade), BHP -1.6% (broker downgrade), SEPR -1.5% (fallout from Sanofi approval).
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