Cash is King
The market gave back all of NASDAQ's gains from yesterday and almost half of the DOWs.
The market is discounting almost all positive earnings releases.
ISIL doubled earnings Y/Y and increased 10% sequentially QoQ. Doesn't matter - they were hit down 10% and given a P/E of 20.
ESV has shown that its contractual prices are doubling in the last 6 months. Doesn't matter - they are down.
Earnings don't matter. Something else is needed to bring money into this market. And there are 18 more days of headwinds. We have options expiration tomorrow - shorts will easily cover. We have housing sales news next Tuesday and Thursday - and that will be only bad news. Then August 8th is the next Fed meeting. For those who missed it - inflation is perking up.
To say the market is oversold is an overstatement. When it is time to get back into this market, consider buying LEAPs.
The market is discounting almost all positive earnings releases.
ISIL doubled earnings Y/Y and increased 10% sequentially QoQ. Doesn't matter - they were hit down 10% and given a P/E of 20.
ESV has shown that its contractual prices are doubling in the last 6 months. Doesn't matter - they are down.
Earnings don't matter. Something else is needed to bring money into this market. And there are 18 more days of headwinds. We have options expiration tomorrow - shorts will easily cover. We have housing sales news next Tuesday and Thursday - and that will be only bad news. Then August 8th is the next Fed meeting. For those who missed it - inflation is perking up.
To say the market is oversold is an overstatement. When it is time to get back into this market, consider buying LEAPs.
posted by Andrew at
3:11 PM
2 Comments:
Since you mentioned LEAPS.What stocks do u think are at their bottoms or rather what stocks should be get into?. ET was a good buy at 21.
At the last drinks & dividends meeting, you had mentioned a stock of a company that rates stocks and mutual funds like Standard & Poors or Morningstar. I forgot what company it was? Any ideas?
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