Börsipäev 13. aprill
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The Market's Not Rational
By Rev Shark
RealMoney.com Contributor
4/13/2006 9:13 AM EDT"The essence of intelligence is skill in extracting meaning from everyday experience."
It is going to take some real skill to extract meaning from the market action today. With a three-day weekend beckoning and already thinner ranks due to the Passover holiday, the trading volume today is likely to be very light. Light volume leads to manipulation, volatility and random action, so don't try to draw profound conclusions from what happens today.As we move into earnings season, the bigger market picture remains much the same as it has been over the past three months or so. We make slow, choppy progress with both bears and bears having bouts of success but not gaining any major traction. The pullback earlier this week was the worst we have had so far this year but we still are in good shape technically. The Nasdaq is holding above the 2300 level and its 50-day moving average and the uptrend since October 2005 is still intact.
The question we now confront is how earnings season will affect the market. We had our first taste of reports last night and we have a mixed reaction. General Electric wasn't very inspiring but it is such a slow-moving elephant of a stock that it really isn't that meaningful despite the media coverage. AMD had a pretty good report but expectations were very high and the stock is trading down. On the other hand, LRCX was solid, is trading up and that is helping the semi equipment sector.
I've taken some heat from readers who believe I've been a bit too stubborn lately with my bullish view of the market. I certainly can understand why many would be uncomfortable with my posture. There are lots of very worrisome macro matters out there and they sure aren't trivial: rising interest rates, high energy prices and growing tension of Iran. It seems downright foolish to not be worried about those things and to take some steps to stay safe.
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Homme on aktsiaturud enamjaolt suletud, Lääne Euroopa ja USA tähistavad ülestõusmispühasid, seega ei ole tänaselt börsipäevalt loota suuri käibeid ja huvitavaid liikumisi.
Kauplemine toimub järgmistel päevadel selliselt:
reedel on kõik turud suletud,
esmaspäeval 17. aprillil on suletud Euroopa ja Baltimaade turud, USA turul toimub kauplemine tavapäraselt
teisipäeval 18. aprillil on suletud Leedu Väärtpaberiturg
