Tuesday, April 24, 2007

Market Recap

Close but no cigar. The Dow almost got to 13,000 just 10 points away at one stage but it wasn't to be. The Qs are breaking out and I want to be long QLD here, to take maximum advantage of the upside. Semis had a great day and I did well being long SNDK and MU.

Honeywell and IBM helped prop the Dow up today despite 16 of 30 components being in the red.

Household goods led the way while steel was the worst performing sector in part due to US Steels poor earnings.

Amazon doubled its profit and its shares are soaring in after hours.Still with such high multiples, I would want to go short AMZN once the momentum dies down.Its the 15% short interest thats helping this stock soar.

Whirlpools net fell but the stock soared due to numbers not being as bad as analysts feared. Lesson: Buy stocks of companies that are expected to disappoint.

$10 air fares coming to a place near you. New budget carrier plans to make money selling advertising. Hmmmmm not a bad idea. They could be on to something.

Home sales drop along with consumer confidence. And they were saying the housing market is bottoming. How do they come up with such BS analysis ?

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