Dow Finishes Down 15 at 12,632, Nasdaq Finishes Down 11 at 2,505 on Market Correction Concerns
Let's parse that headline - the market went down because the market participants are afraid that the market is going to go down.
It's a shame that America has lost its ability to have a laugh without a lot of foul language or sexual innuendo because that. is. hilarious.
What else did we learn today? The Tres Amigo were down some, down a bit and up a little. GOOG was down some and that makes sense since I think the shine is off that apple - AAPL on the other hand only dropped a bit and MSFT finished the day with an unexpected gain. I don't know how anyone can invest in MSFT these days - talk about a company that is used up. They are probably going to stay in this range for the rest of their existence - and if you don't think that is possible - trust me it is. The only way Gates or whomever is going to change that is with a massive share buy back and that is probably not going to happen. And even if it did it would only move them to another range where they will be locked.
MSFT is a commodity and it will trade like a commodity with the only problem being it will never be in short supply like a real commodity so it will never go up as a result of demand. There is absolutely no product that MSFT can come up with short of a cure for AIDS or Black Lung that will get them any momentum. And I'm not talking about the odd buck and a half here and there I'm talking about the kind of stooch that makes something like this happen -
Another Seattle firm - well - formerly of Seattle. ("stooch" is an old New York word that means whatever you want it to mean that is big and hairy with cajones that drag along the ground when it moves. I'm not even sure what language it comes from).
The best thing that can happen to MSFT is a correction that takes it back down into the teens so it can come back up to 30 again.
Anyone catch the HPQ and DGX action - today would have been the day to back up the truck and do the triple buy. Of course you could have done that on FRO at 2 P.M. and made some before close. I shouldn't pick on Jimmy Crack Corn Pone - there are like 800 web sites out there that specialize in it but I'm still waiting for that GOOG short squeeze - and I'm not kidding - One would think that GOOG would be shorted to a how d'ya do but it would only take 1 day to cover. Contrast that with TRLG which would take 16 days to cover - absolutely nobody expects that one to go up. FRO also has a heavy short interest (9 days) so who knows.
Cost Of Talent Skyrockets In India
WIT is an Indian company and I saw this headline under its summary on YHOO finance. I'm not sure what people expected - once labor becomes educated enough to be able to use the internet they find out how cheap they are and guess what - they don't stay cheap. Apparently they don't have enough IT workers in India so they're outsourcing the work to the United States to meet their contracts. Kids - you can't make this stuff up.
SSCC shot up out of the gate and then dropped back into a dull sideways move and I couldn't find a reason to buy it.
The up/down ratio stayed the same as the other day at 41%, the VIX is over 5% away from its 10-day moving average, the INDU ATR slipped back below 80 and the INDU RSI is below 5. And this indicator is massively oversold
We are going to have a boomer tomorrow or a crash - I'll go with an up day.
Meanwhile, the coin sat quietly by all day today waiting for its magic moment and the coin says ... heads - up day tomorrow.
The coin won today's race and the score is Marlyn 15 - 11 and 5 and the coin is 12 - 14 and 5.
1 comment:
What a great way of looking at things.
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