The Week Ahead - Lots of negative news
It's a quiet week for us - only AGN reports and the government has very little news.
But the sentiment will be negative for anyone not in energy or agriculture. ALready the Asian markets are negative.
Texas Instruments, Netflix, the bad news keeps rolling in. Companies don't expect much growth this year.
Meanwhile, the financial institutions keep writing down billions. Today it was National and Bank of America.
The ability of the market to shrug this off is very puzzling, unless you buy into my Last Gasp Theory.
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Tueday brings us Existing Home Sales for March. Expect doom and gloom.
Thursday is the March durable goods info. That won't be good, as GE has already shown.
AN reports Thursday. Given the dismal state of US car sales, I just don't understand what propels this stock. But it is all low volume buying, so it has no real conviction. Meanwhile, the guy who is really deep into this company is also running Sears (SHLD). And they are doing very poorly as well. I mention this because his funding may be running out.
They are expecting $1.46 EPS through December, a P/E of 11. I don't see that. They have missed 3 of the last 4 quarters, most recently 13% below expectations. I think that will accelerate and they will get maybe $0.20 per quarter or $1 for the year. That plus doom and gloom should push the stock closer to $10
But the sentiment will be negative for anyone not in energy or agriculture. ALready the Asian markets are negative.
Texas Instruments, Netflix, the bad news keeps rolling in. Companies don't expect much growth this year.
Meanwhile, the financial institutions keep writing down billions. Today it was National and Bank of America.
The ability of the market to shrug this off is very puzzling, unless you buy into my Last Gasp Theory.
------------------------------------
Tueday brings us Existing Home Sales for March. Expect doom and gloom.
Thursday is the March durable goods info. That won't be good, as GE has already shown.
AN reports Thursday. Given the dismal state of US car sales, I just don't understand what propels this stock. But it is all low volume buying, so it has no real conviction. Meanwhile, the guy who is really deep into this company is also running Sears (SHLD). And they are doing very poorly as well. I mention this because his funding may be running out.
They are expecting $1.46 EPS through December, a P/E of 11. I don't see that. They have missed 3 of the last 4 quarters, most recently 13% below expectations. I think that will accelerate and they will get maybe $0.20 per quarter or $1 for the year. That plus doom and gloom should push the stock closer to $10
posted by Andrew at
8:36 PM
1 Comments:
This is driving me nuts. I see that market went down 40 pts and now back up 120 pts. What the hell is wrong with the markets? Whats the driving force behind it? Now, its over the sustaining high(12800). If it closes above, I think our ultrashorts would be doomed :(
Sadly
SR
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