Well RIMM cut it's third quarter earnings and revenue estimates so keep your eye on tech in here, especially AAPL. The latter could see its own halo affect today and it won't be from the Ipod. We'll see.
ADP's estimate for monthly employment, a revision to third quarter productivity and weekly energy inventories will also be released. The ISM non manufacturing index will also be released as well as the Fed's Beige book which is always interesting.
Further evidence of the global recession (too much to mention here) is FCX, which will cut copper production, defer projects and eliminate its dividend. The earnings cuts haven't even started yet for the S&P so be ready for that cascade. It should start soon.
Good luck today and I'll see you on twitter.
Wednesday, December 3, 2008
RIMM, ADP and Beige Book
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About Me
- upsidetrader
- 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.
2 comments:
Hey upside,
Kinda curious what you mean by halo effect?
the original thought behind the success of ipod was to have a halo or ripple effect on the mac-just an analogy ie..-bad for rimm, bad for aapl
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