Oil up on OPEC's comments and I guess they anticipate another wonderful API number which in many cases differs from the government's number on Wenesday....party on baby just like the stock markets. Does OPEC still matter?
I cannot buy up here it's not in my nature I actually got out of STX which I was trapped in just over $28 it is up over 22% on a guide higher on revenue and laying off 6,500 workers this move is insane. Also I finally got out of SIRI that I held for a few years sold at $4.16 earlier. I am a spectator I just cannot buy here I did buy a little RAD earlier but that's it for now. One more sign of the insanity is HTZ which did a 1:15 reverse split in early July and the stock is up over $7 since and the business stinks. Like I said get out the dart board once again to pick stocks.
We are close I would not be surprised if we see a market reversal today or sometime in the next few days. Markets track oil almost every day yet they did not yesterday and the S&P closed at a record high on Monday. Both oils were up well over 4% but are pulling back a bit in the past few minutes. OPEC pumped the oil trade today but does OPEC really matter anymore? Earnings do not seem to matter for now it's still more about P/E expansion and that never ends well.
Since their weak earning's report....markets are running no matter what oil does now. if you saw Cramer the last 2 days on TV he exemplifies what is going on. Markets are running on a lot of hype now along with the promise of global stimulus and not much else.
After the split HTZ is up over $7. That's great I'm still long but less shares now but has anything in the business or global growth really changed? These markets are getting silly now and going up for the wrong reasons stimulus around the globe and not on fundamentals. I guess it goes on for awhile longer but this will end ugly at some point. Look at STX today up 21.5% on a revenue bump and cutting 6,500 jobs??
Oil up 2.5-2.8% and CLR up near 6%. I think this is more about shorts covering today than anything else. Markets keep going up each day on stimulus talk around the globe. This will end ugly soon but not yet.
I never saw this big of a move coming so I'm out today with a decent profit but 20% on this news is a bit much. I equate this to what markets are doing going up on air and hype not fundamentals anymore. Party on for awhile longer but world markets are being set up for a decent pull back soon.
Nothing on Humana's IR part of their site. You may be right that they want shares lower in case there is a deal.
Suddenly he is interested in HTZ. The extra shares purchased are not even 1% and him buying additional shares does not affect what the business is doing. I think this few days of gains fades soon just like this market rally which is being talked up so many talking heads and the premise of earnings picking up in the back half of 2016 instead of being based on real fundamentals we have been hearing that for 2 years now. The markets have been rallying with oil and oil has been pulling back yet markets are still move higher. I don't buy it I believe this is a trap to draw new money in then we have a correction.
Oil's going lower I've been saying that for weeks there is still plenty around, rigs are increasing gradually each week and gas supplies are building. CLR's earnings will be important now that oil has rebounded and Hamm has promised to be cash flow positive soon. If oil does pull back to the upper $30's many of these stocks need to consolidate since many have run straight up in about 5 months. The past few days I am concerned about markets rallying without oil and on the belief that earnings will recover in the back half of 2016. I do not buy it wages are still stagnant and I believe that this run is a trap to draw more buyers in and then the market takes the new money in a short period of time with a correction.
Equal amounts at $6.94 and $6.89 want to build some again if they get the OK to be bought. Usually the market drops the bids before a deal. Keeps dropping I buy more.
I actually hope it drops more to get some with a $6 in front of it. This is my first RAD buy since I sold 5,800 shares at $8.65 on the day the deal was announced on last Oct 27th. I know RAD had shaky results recently and the deal is still up in the air but I'm buying hoping it does happen.
I posted Friday that I bet Icahn was buying and the way the stock acted it seems like he was buying on every drop in the bid/ask. That's what I saw and it seemed very strange at the time the way the stock acted. But the amount of .9% is really not that much to move the needle. Much of that may be in the move of shares on Friday already.
I truly believe it now the S&P and Dow are trying to test their 52 week highs today alone based on one jobs number. Earnings just are not there to justify this but party on this is what WS does to draw those in who missed the rally since the Brexit.