What will happen is, the after hours price will recover about two bucks up from the low, and be met with another wave of selling.
You don't have to plow in tomorrow morning. You can wait till Friday as the entire market continues to sell off in the wake of the unemployment numbers which will be #$%$ tomorrow morning.
See how that works?
I got the part where TWATTER is all noise. The only dips around are the buyers who are hoping the 14 and under crowd get their allowance and can buy some of the ad products.
They might ask their parents for more allowance, but most are out of work or trying to figure out how to get to those Walmart Micky D part time jobs Obungle thinks are good paying.
See how that doesn't work?
General market looking rolling over? Dow, S and P, Nasdreck, plotzed, S and P 3.6%. So this week's hand grenades are a bucket full. Manufacturing blistered so last year, who thinks that inventory will continue to carry a market where all that stuff gathers dust? Construction spending down Dec? Excuse: Baby it's cold outside. Auto sales a nice upside surprise, that's replacing homes strangled by tapering, unless we wrestle 3rd world into picking up the $10B slack. But Thursday claims and Friday unemployment rates, so last month with all those XMAS hires hitting the streets, are up for grand finale Thursday Friday. Place your bets.
Date Time (ET) Statistic For Actual Briefing Forecast Market Expects Prior Revised From
Feb 3 10:00 AM ISM Index Jan - 57.0 56.0 56.5 57.0
Feb 3 10:00 AM Construction Spending Dec - -1.0% 0.1% 1.0% -
Feb 3 2:00 PM Auto Sales Jan - NA NA 5.3M -
Feb 3 2:00 PM Truck Sales Jan - NA NA 6.6M -
Feb 4 10:00 AM Factory Orders Dec - -2.0% -1.7% 1.8% -
Feb 5 7:00 AM MBA Mortgage Index 02/01 - NA NA -0.2% -
Feb 5 8:15 AM ADP Employment Change Jan - 175K 178K 238K -
Feb 5 10:00 AM ISM Services Jan - 53.5 53.8 53.0 -
Feb 5 10:30 AM Crude Inventories 02/01 - NA NA 6.421M -
Feb 6 7:30 AM Challenger Job Cuts Jan - NA NA -5.9% -
Feb 6 8:30 AM Initial Claims 02/01 - 330K 335K 348K -
Feb 6 8:30 AM Continuing Claims 01/25 - 3000K 2993K 2991K -
Feb 6 8:30 AM Trade Balance Dec - -$37.0B -$36.0B -$34.3B -
Feb 6 8:30 AM Productivity-Prel Q4 - 2.5% 2.4% 3.0% -
Feb 6 8:30 AM Unit Labor Costs Q4 - 0.0% -0.5% -1.4% -
Feb 6 10:30 AM Natural Gas Inventories 02/01 - NA NA -230 bcf -
Feb 7 8:30 AM Nonfarm Payrolls Jan - 150K 175K 74K -
Feb 7 8:30 AM Nonfarm Private Payrolls Jan - 160K 161K 87K -
Feb 7 8:30 AM Unemployment Rate Jan - 6.5% 6.7% 6.7% -
Feb 7 8:30 AM Hourly Earnings Jan - 0.2% 0.2% 0.1% -
Feb 7 8:30 AM Average Workweek Jan - 34.5 34.4 34.4 -
Feb 7 3:00 PM Consumer Credit Dec - $10.0B $11.5B $12.3B
HGG LOST 15% reporting Thursday, BBY bad news is "in". AMZN missed and tanked too, it remains WAY overpriced while BBY is undervalued. Statement next CC senor will include aggresive e-commercebid which is why FIVE analysts have a minimum target of $31 .
Selloff is WAY overdone. I'm standing pat.
30 Jan claims gets bogus numbers, but general market is looking for excuses to go down. Dollar weakness near term should bouy everything, but the market believes bond buying built a floor under the market.
Business will have to get off its duff and start hiring in the blind more than Micky D part timers and inventories are already overbuilt.
This is one stress test that the market isn't too big to fail, and if you dont smell selloff in the wind, look at the Jan indicator. That voodoo is 3% lighter.
Silver is down nearly 2% this AM, with claims up next. Can you say cover your six boys and girls with covered call sales against your shares?
Bernookie pounds another ten billion "penny" nail into the market balloon and claims is next up to hammer it home. Minus 15- 20 % general market to come.
Best Buy has it's own issues, but how much money Apple makes doesn't affect BBY except by pointing out general weakness in the retail sector.
Bernookie, who missed the turn of the real estate bubble, is cheerfully missing the turn of his own making with respect to the "recovery".
Here we go again. Got cash?
The Fed is three years early tapering bond buying, which drives up interest rates for mortgages, and credit card rates to follow. Tapering pulls the dirty rag out of the economic sucking chest wound, leave it in , the patient dies of an infection called inflation, pull it out, the patient bleeds out.
Stop watching charts and paint dry and look at fundamentals--the Fed is leaving bond buying behind, the furriners trash can't be bought at as high a rate, Chinese are already retreating, the cost of business is going up as borrowing rates increase, and margins are already squeezed, from BEST BUY to AAPL, evidence the latter's ten percent selloff last night.
The Fed is driving a stake into the stock balloon with as much failure to see how badly timed, as they called the real estate debacle in 2006--they didn't then, they aren't now.