Tuesday, April 15, 2008

INTEL

Well they matched the 25 cent # and guidance was in line. This should take the market out of the current trading range. Thank God above. The last couple of days was like watching a bridge rust. I need movement or I get cranky. If IBM can come through it could help change the tone. The INTC number was not a high hurdle to meet, but at least they didn't fall short. Merrill Lynch reports Thursday before the close and that will be a number I will also be watching.I think John Thaine is too smart to upset the apple cart so I'm guessing there won't be a big surprise there.

China's GDP is being reported tonight and it is a number to watch for the commodity sector. A weak number there could take the shine of the apple. Everybody is talking about how they are paying close to $4 bucks a barrel for gasoline. I'm paying about $ 3.10 on the east coast. If you are paying $4 let me know where you live, I'm curious what parts of the country are getting hosed out there.

Mirant has worked out to be a great two day trade and I got stopped out on my MOO short at my stop price of $60 for a two point loss but that was offset by my AA short cover yesterday for a 3 point profit. I was short that MOO for a week at $ 58, now watch the group fall apart.LOL.

For anyone that is still short BLK (ARE YOU CRAZY?) their eps come out before the market opens in the morning.

1 comments:

Craig said...

$4.00 for 89 grade gas in Beverly Hills, Ca

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I am a former hedge fund manager, broker and capital markets dude who now trades for his own account. I love what I do. I will try to post some stocks and an occasional chart that looks attractive for entry.I will also try to point out the idiocy of conventional wisdom and the lack of value added by the mainstream financial media. These postings should not be viewed as recommendations.