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Wednesday, June 22, 2005

Off-topic: No more posts today

I'll be on a short vacation for some days, so I won't be posting anything until Saturday (or even Monday). Sorry! I hope you'll find something interesting from the archive.

Stocks Face Early Strength

Stocks Face Early Strength
TheStreet.com
By Robert Holmes

6/22/2005 7:57 AM EDT
Stocks reprised their high-wire act ahead of the bell Wednesday, climbing despite a profit earning at Ford (F:NYSE) and stubbornly expensive oil. Index futures recently showed the S&P 500 trading about 5 points above fair value while the Nasdaq 100 was set for an 8-point jump. The 10-year Treasury bond jumped 11/32 in price to yield 3.99%, while the dollar was lower against the yen and euro.
Read further:
TheStreet.com: Stocks Face Early Strength

Tuesday, June 21, 2005

Jack Rothstein's blog

Jack Rothstein has started his stock market related blog just some days ago (I found it via Trader Mike blog, thanks!). Jack's blog is absolutely a great place to visit! He has already written some really nice posts about his stock picks and also about lessons he has learned on the markets.

Sample posts:
Jack Rothstein: Lessons Learned
Jack Rothstein: The Current Market

Update: Stock to watch: CTTY

CTTY turning crazy, trading at $22 (+450%) and still backed with volume.

See also:
Stock to watch: CTTY

Gross: Fed May Cut Rates By Year-End

The Big Picture writes:
Dow Jones is reporting that PIMCO's Bill Gross sees the Fed pausing at 3.5% by August. He is looking US GDP Growth at 2%-3% in the next 6 months.

Even more interesting, Gross notes the Fed may cut rates by year-end.
Read further:
The Big Picture: Gross: Fed May Cut Rates By Year-End

Stock to watch: CTTY

CTTY trading at $15.20 (+280%). Float only 712K.

Stocks to watch: CLWT

CLWT rising with volume surge, currently $3.57 (+13.33%). Possible movers in sympathy: SDIX, BTHS, TAYD, NYER, NGRU (so called "tsunamy stocks").

Update 2: Live Action: Long NeuroMetrix Inc (NURO)

NeuroMetrix (NURO) break $17.50 resistance. That move should give some technical support to the shares. It made a nice bounce to $17.65 immediately.

See also:
Update: Live Action: Long NeuroMetrix Inc (NURO)
Live Action: Long NeuroMetrix Inc (NURO)

Apple Courting Core Meltdown

TheStreet published an interesting story about Apple (AAPL) and its future outlook.

Apple Courting Core Meltdown
TheStreet.com
By Troy Wolverton
6/21/2005 7:00 AM EDT
The bull case for Apple (AAPL:Nasdaq) over the past year has been that booming sales of iPod music players will create a "halo effect" that will lead to higher demand for the company's Macintosh computers.

While Apple has seen an uptick in Macintosh sales in recent quarters, that momentum may be slowed by the recent announcement that it is switching the processor at the heart of its computers from the PowerPC line produced by IBM (IBM:NYSE - news - research) and Freescale Semiconductor (FSL:NYSE - news - research) to chips made by Intel (INTC:Nasdaq - news - research).

And many analysts believe the move to Intel will be beneficial to Apple in the long term, regardless of the short-term consequences.
Read further:
TheStreet.com: Apple Courting Core Meltdown

These Things Happen in the Markets

There was a strange move by West Corp (WSTC) shares recently when it gapped down about 20%. A guy writes in his Ugly Chart blog about his experience with WSTC on this gap down day (see the chart below). Basically, there were some technical problems resulted in erroneous transactions and he's shares were stopped out.

Stock Chart: West Corp (WSTC)
Chart courtesy of StockCharts.com.

Similar actions were spotted with KNBWY MRLN NASB NATR NTRT ONFC PTSI PWOD SAFT SHOO SLGN SMTB STNR SUPX SURW THOR UFCS URGI UVSP VALU VITL WDFC WSTC ZOLL.

Read further:
ugly chart: F@cked up open on WSTC
ugly chart: WSTC trade - just a bad dream

Story Stocks: Sprint, Dell, CarMax

Briefing.com has lately commented Sprint (FON), Dell Inc. (DELL), CarMax Group (KMX) in Story Stocks section.

Sprint (FON):
The telecom sector has performed quite well over the last two months after bottoming back in May. NXTL and FON alike have been top performers as their combined growth outlook strengthened. The merger, expected to close in September, will accelerate Sprint's plans to diversify away from the lower margin, lower growth long distance segment towards wireless.

Sprint should be also able to expand margins by driving its wireless data business, which skyrocketed 130% in 2004.
Dell Inc. (DELL):
Notebooks make up a third of its topline including product lines Latitude targeted at the business segment, along with the all-purpose Inspiron. Dell continues to be the standout in the PC industry solidified by its ultra-successful direct model.
CarMax Group (KMX):
Despite tepid conditions in the used car market, CarMax has"begun to take steps to counter the current challenges in the market," according to Austin Ligon, President and Chief Executive Officer.

While more favorable market conditions should bode well for the company, current exposure in the stock is not justified by current valuation levels.
Read further:
Briefing.com (via Reuters): Story Stocks (content updated daily)
Briefing.com: Story Stocks (permanent link; paid subscription required)

Monday, June 20, 2005

Update: Alert: Spire Corp (SPIR) - A New Hype?

Spire Corp (SPIR) already trading at $8.70 (+44.28%). SPIR is still moving with high volume, let's see how long it can keep its momentum. Too risky for me, but probably a dream of every hype player... ;)

See also:
Alert: Spire Corp (SPIR) - A New Hype?

Update: Possible strength in Comcast Corp (CMCSA) on CVC news

Briefing.com (20-Jun-05 11:50):
Cablevision Systems Corp (CVC) downgraded to Market Perform at Stifel.

See also:
Possible strength in Comcast Corp (CMCSA) on CVC news

Alert: Spire Corp (SPIR) - A New Hype?

Spire Corp (SPIR) jumps today, trading at $8.05 (+33.33%). Short term and hype players should keep it on the radar. SPIR is able to move both ways very agressively.

Housing: Psychology Change?

There are two posts about housing bubble on Calculated Risk blog. Some good information for people who are investing in this sector.

Read further:
Calculated Risk: Housing: Psychology Change?
Calculated Risk: Times: Is the global housing bubble set to burst?

Possible strength in Comcast Corp (CMCSA) on CVC news

There are talks that Comcast Corp (CMCSA) may show some strength on today's Cablevision Systems Corp (CVC) news that the family controlling CVC has proposed taking the cable TV operator private while spinning off its entertainment assets. It is also speculated that CVC $33.50 offer is just the starting point and may go up to $35.

CVC currently trading at $33.40 (+24.30%)
CMCSA currently trading at $32.02 (+1.43%)

Plan to Take Cablevision Private Proposed
AP
Yahoo Finance!

Monday June 20, 8:50 am ET
NEW YORK (AP) -- The family that controls Cablevision Systems Corp. has proposed taking the cable TV operator private while spinning off its entertainment assets, which include the New York Knicks and Rangers, Madison Square Garden and cable channels like American Movie Classics into a separate publicly traded company.

The $7.9 billion deal would give Cablevision stockholders $21 in cash for each share they currently own, plus shares in the new company, Rainbow Media Holdings.

The Dolan family, whose leaders have been feuding in recent months, estimated the spinoff of Rainbow would be worth $12.50 per share, giving Cablevision shareholders a combined $33.50 for each Cablevision share, a 25 percent premium over its closing price on Friday.
Read further:
Yahoo Finance! (AP): lan to Take Cablevision Private Proposed

More on Google (GOOG)

Barron's saying about Google (GOOG), via Briefing.com:

Based on '04 numbers, Google trades for about 40x revs and roughly 100x earnings. Using '05 ests, you get 22x revs and 52x earnings. Things look more reasonable if you use 2006 ests, which translate to 16x revenues and 41x earnings.

Google got off to a flying start in the absence of competition. They'll have to fight for every single incremental increase in rev.

The bottom line is, at $80bn, the risk in Google shares has grown. And the upside ain't what it used to be.
Read further:
Briefing.com (Barron's): Live In Play: The risk in Google shares has grown

See also:
Update: Google (GOOG)
Dot-com mania, part II?

Stock Trading Best Practises: When to Sell a Stock?

Trader Mike has published 2 educational posts in his blog. One is about best practices for stock trading and the other one is about sell signals (origin from from Technically Speaking, Market Analysis and Theory blog). I believe selling is one of the most important issues about trading. You always have some bad performing stocks in your portfolio, but selling determines how much you actually are going to lose. Therefore, it's good to read them hand-in-hand.

Read further:
Trader Mike: Stock Trading Best Practices
Trader Mike: When to Sell a Stock
Technically Speaking, Market Analysis and Theory: When to Sell?