I think the shorts are buried, and yet it seems they keep trying to push it down to cover lower. I think this closes over $27 at the end of the day.
From an article at 7pm this evening:
"Now it looks like Apple is ditching Akamai for its own servers and has significantly cut its business with the online infrastructure company. " Why did Akamai fail to mention that they're about to lose their biggest customer? Instead, they just said their 2 biggest customers will be 6% of their revenue. As an investor, this is not a fair and open disclosure of a material event, in my opinion.
And then a Yahoo Finance article stated that:
"Companies lose billions buying back their own stock
Big companies have lost billions buying their own shares" So I don't have much faith in the future stock price just because the CEO intends to buy stock. But the 1st article is more disturbing for me.
I will sell my shares after the gap up tomorrow, which sadly I believe will be shortlived.
They are not legally obligated to buy shares in this market. They can announce their intention, but they're not obligated. I would say if a recession is on the way, or a severe downturn, it wouldn't make sense for the CEO or anyone else to buy their own shares. By the way, the buyback extends to 2018.
This was vs. the .62 expected...I guess they go by non-gap earnings. I have no position, but I think based on this report it's a bit of an overreaction to the upside...but the stock was very beat up, so there's that...I would go long in the mid $30's.
I wouldn't get too excited if I were you. After Friday's carnage, traders will trying to get out at whatever price they can that's higher than last week's close.
Voting for Marco Rubio for our next president when he wins the nomination will be the most important decision of our generation. Rubio is the candidate with the best chance to beat either of the two Democratic candidates. Those in their twenties supporting Sanders have no idea how detrimental a Socialist would be for our economy. And Clinton would be more of the same of the past 8 years, but I think she will be indicted. Even if she's not indicted, her lies and poor choices are wrong for our country. Rubio is young, charismatic, and will keep our country safe.
On another note, I think the bear market will last until the election is over.
Well there you are IBDman! Finally some justice.....This looks like the real deal after all these years. If the SPY takes out $180 on the downside next week or later, I believe it's all over, and the bear is officially here. Of course the talking heads still say no recession is in the cards...I'm not sure what they want for proof....
Enjoy! You were just way too early on your call, like many of us.
It's all about damage control, that what public companies do. It's similar to Chipotle's issues. Brand experts will tell you it can take years in some cases to restore confidence in the brand, when there's a serious misstep. The street tends to shoot, and ask questions later....On a related note, I'm not sure why anyone would want to eat chicken wings regardless, as they may just be one of the absolute worst foods you can eat.....
"People usually recover completely without any serious long-term problems. But, norovirus illness can be serious, especially for young children, older adults, and people with compromised immune systems. This can lead to severe dehydration, hospitalization, and death."
This comes from the CDC website. For investors, the real issue is not one case of the norovirus....it's the uncertainty regarding the real possibility of more confirmed cases of the disease. But I think the real issue is not the virus itself, but rather the negative publicity.....so this stock now becomes "headline risk." Add to that their revenue warning on their guidance going forward, I'll be staying on the sidelines.
Norovirus case confirmed in Kansas, just announced in after hours. It seems others knew about this about an hour ago.....Someone always has the news before it's announced....it's called an unequal playing field. Nice timing for the announcement; with the Superbowl on Sunday.
That will probably be short lived. Linkedin's brutal warning is a precedent for the slowdown in social media advertising, and advertising in general. In a recession, ad spending drops dramatically. I think FB will revisit the low $90's....sorry.
Look at former software darling LXFT...almost a perfect H&S formation...I wish I could leverage more plays like the big guys....lol.
Our BWLD short is paying off today. If you look at a monthly chart, it could fall into the low $100's. I'm very careful not to short the companies the analysts' love, as they'll upgrade the stock for no reason, as most sell side analysts do. I was short CMG and covered a quick swing trade. I've been in and out of oil stocks, both long and short, but fair warning, they're very risky. LULU is one of those retail stocks the analyst's love, which is why I hate to play retail...although I see there's quite a bit of downside available there. My only question about SCTY is why did it run up recently? Must have been an orchestrated short squeeze on some BS media piece. I agree, the Elon Musk hype is over...in fact this market looks over.
And this "rip your face off rally" Jeff Saut guy is at it again today:
On CNBC Friday, Saut said all the earmarks are there to put in a floor, including "more Google searches for the term 'bear market' since March of 2009 and investment banks telling you to sell everything."
"The model is calling for a bottom some time next week, and a fairly sharp rally after that," he said, though he would not put a number on it. He did say stocks should be higher at the end of the year than they are now.
Ok Jeff, I get it....if more people are Google searching the term "bear market", that means we're near a bottom. What a dork!
Well it turns out all these years most of here were correct, i.e. the Fed's strategy was wrong. The textbooks say to try the wealth effect, bring sales forward (think GM bailout, etc.), but none of this has worked. This was all clearly the best example of a "kick the can down the road" strategy, which has backfired. Maybe now they'll let the markets find their own levels, instead of QE and other addictive programs. On another note, you're were correcct IBDman, just way too early.
I'm trying to find the next disaster du jour before next week's earnings releases....
What do you see as the next disaster du jour, like DATA and LNKD today? Earnings plays are a huge risk if you're on the wrong side of the trade, but do you see another one like this for next week? Tks.