Dell Inc. (DELL) missed its earnings expectations today and looks to be expensive even after a 12% drop in stock value. Analysts were looking for 36 cents a share but the company could only earn 31 cents for the previous 3 months.
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Some countries are being affected by the global slowdown
more than others. The iShares MSCI Japan Index (EWJ) is in the mist of a trend
downward that has not taken too many pauses. Begun at the beginning of June,
the index Exchange Traded Fund (ETF) has dropped 20% from 13.83 to 11.20 on
August 25 th.
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Chinese Internet portal Netease.com reached a new 52 week
high yesterday which also happened to be a 5 year high for the company.
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Strong Call option buying in Akamai Technologies (AKAM) on
Friday is a positive sign for the company. Most of the buying was in the front
month of September with some additional buying in the October Calls noted.
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Whole Foods Market Inc (WFMI) finished the week with a
little uptick as volume spiked at the close on Friday but the weeks chart looks
similar to Freddie Mac (FRE). Of course Freddie Mac dropped 43% this week while
Whole Foods only dropped 6%. But the continued slide looks similar.
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This has been a very difficult week for stocks and Thursday
is looking to be another day of negative movement in the indexes. The index indicators
are still showing a positive bias but with this weeks action they could signal
a hold instead of a buy today or tomorrow.
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A recent run-up in biotechnology shares has led to new highs
for the iShares NASDAQ Biotechnology Index (IBB) Exchange Traded Fund (ETF).
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Long the Ultra QQQ
ProShares ETF (QLD) and Short the SPDR Gold
Shares (GLD)
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You may not have noticed today as a couple of financials led
the markets lower but all four of the major averages have now triggered a buy
signal. The Nasdaq Composite, The Dow Jones Industrials, The Russell 2000, and
the Standard & Poors 500 are all signaling a rally has begun.
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With a very nice 5 day run on high volume, Almost Family Inc
(AFAM) still looks like a buy. With revenue growth close to 50% and earnings
growth at 95% year over year for the current quarter, the stock trading at a 26
price/earnings is a good purchase.
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Medical Stocks have been showing continued strength with the
overall market uncertain if the correction has ended or the current uptrend is
just a pause before another leg down for the markets. Celgene Corp is one of
the strongest of the medical/biological companies that should continue to
appreciate in value.
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