August 2, 2010 Thank God It’s Friday, Perhaps Not
BAGAKOAA;
August 2, 2010 Thank God It’s Friday, Perhaps Not
It’s really late and I just got home from God’s Country, Utah. Great weekend and tonight I am suffering from Glutonious Bolognesium. Ya see my wife made this phenom Bolognese sauce tonight and it was too good to have a little.
I got in the door at 11:40ish and after checking on the Cats and catching about 20 minutes of Cramer’s Mad Money circa Friday, I took a quick glance at Barron’s. As usual some great stuff in there but I will bore you to death with that later in the week as it is late.
I just wanted to give a warning about the Friday Labor report. It will make or break anything else that happens this week in the market. The roller coaster ride we had on Friday with the growing but weaker GDP number was sooo expected even I called it Thursday night. So why did the market drop a half a percent by noon? It’s a crazy market. Fortunately we had a buying frenzy driving the market up a lot then closing flatter than a flitter. (If anyone knows what a flitter is let me know.)
Anyway there are some interesting earning reports this week that we will be reporting on this week, but not tonight. Loews reports tomorrow, but with the dismal real estate numbers and some aggressive service and pricing competition from HD, I do not think they will hit the 81 on the street. I don’t follow Loews, so that is just a guess.
Tuesday and Wednesday are chock full of some great earnings plays. Hint and I owe this one to Cramer, look for Lear to beat the 1.29 on the street. Now before you say no one is buying private jets, This Lear is Lear Corp formerly know as Lear Siegler. They make a predominant share of auto mobile seats. Ford had been selling cars, Chrysler has been selling cars, even GM has been selling cars. (I used to call on Lear in Detroit, and that has absolutely no bearing on why you might want to do a short term trade looking for a nice bump on Lear.) I am thinking 1.35.
Again no matter what you do this week, we just came off a great July, up 2.32% I think. Friday will be one to make sure your stops are in place. Another significant miss on the jobs number could easily trigger a 5% correction. For those of you without a calculator, that would be 500 points or so on the DOW.
Salve Lucrum
August 2, 2010 Thank God It’s Friday, Perhaps Not
It’s really late and I just got home from God’s Country, Utah. Great weekend and tonight I am suffering from Glutonious Bolognesium. Ya see my wife made this phenom Bolognese sauce tonight and it was too good to have a little.
I got in the door at 11:40ish and after checking on the Cats and catching about 20 minutes of Cramer’s Mad Money circa Friday, I took a quick glance at Barron’s. As usual some great stuff in there but I will bore you to death with that later in the week as it is late.
I just wanted to give a warning about the Friday Labor report. It will make or break anything else that happens this week in the market. The roller coaster ride we had on Friday with the growing but weaker GDP number was sooo expected even I called it Thursday night. So why did the market drop a half a percent by noon? It’s a crazy market. Fortunately we had a buying frenzy driving the market up a lot then closing flatter than a flitter. (If anyone knows what a flitter is let me know.)
Anyway there are some interesting earning reports this week that we will be reporting on this week, but not tonight. Loews reports tomorrow, but with the dismal real estate numbers and some aggressive service and pricing competition from HD, I do not think they will hit the 81 on the street. I don’t follow Loews, so that is just a guess.
Tuesday and Wednesday are chock full of some great earnings plays. Hint and I owe this one to Cramer, look for Lear to beat the 1.29 on the street. Now before you say no one is buying private jets, This Lear is Lear Corp formerly know as Lear Siegler. They make a predominant share of auto mobile seats. Ford had been selling cars, Chrysler has been selling cars, even GM has been selling cars. (I used to call on Lear in Detroit, and that has absolutely no bearing on why you might want to do a short term trade looking for a nice bump on Lear.) I am thinking 1.35.
Again no matter what you do this week, we just came off a great July, up 2.32% I think. Friday will be one to make sure your stops are in place. Another significant miss on the jobs number could easily trigger a 5% correction. For those of you without a calculator, that would be 500 points or so on the DOW.
Salve Lucrum
posted by J.J. Phineaus at 12:27 AM
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