Tuesday, December 15, 2009, 10:33PM ET - U.S. Markets Closed.
- Home
- Tech Industries
- Topics
- Reporters
- Subscribe
The Hits Just Keep on Coming
Posted Mar 06, 2008 04:21pm EST by Aaron Task in Investing, Information Technology, Recession
The Boss says it's hard to be a saint in the city, which is very true. These days, it's even harder to be a bull.
After the latest session of widespread losses, the best hope for those long stocks is for a lousy jobs report Friday morning that produces a sell-off big enough to attract buyers. Barring that, we're likely to continue this pattern of two (big) steps back for every one (little) step up.
At day's end the Nasdsaq was down 2.3% to 2220.50 while the S&P 500 fell 2.2% to 1304, its lowest level since Sept. 2006.
There wasn't a whole lot of specific news to explain the tech sector's decline Thursday, another day when credit crunch issues dominated anything and everything. (For more insight, check out my interview with Invesco's Diane Garnick on why the tech sector isn't immune.)
Actually, much of the tech sector's news flow was positive, including Goldman's upbeat note on Oracle, better-than-expected results from Mercadolibre and Juniper's buyback announcement.
Apple's iPhone "software roadmap" announcement also included some red meat for fanboys, most notably email access via Microsoft's Exchange server. Apple also announced a $100 million iFund from Kleiner Perkins to be used for future iPhone software development.
But the so-called SDK failed to boost Apple shares while the Exchange announcement slammed Research In Motion. Embodying the day's mood was Juniper Networks, which fell 5% as its revenue guidance trumped a $1 billion share buyback plan.
Stocks going down on good news, traders focusing on the negatives – yep, that's the kind of action that characterizes bear markets. Once again, it looks like a retest of the January 23 intraday lows – of 11,503 for the Dow, 1270 for the S&P and 2002 for the Nasdaq – is likely to occur sooner vs. later.
19 Comments
Mancil - Thursday March 06, 2008 05:30PM EST
I'm going to read "The Fall of the Roman Empire" again.
Mancil - Thursday March 06, 2008 05:30PM EST
I'm going to read "The Fall of the Roman Empire" again.
Mike E - Friday March 07, 2008 02:18AM EST
the biggest problem in the economy is the too high cost of gas
LeonB - Friday March 07, 2008 05:13AM EST
No, the problem is that Europe, China and the US are completely dependable on oil. Instead of spreading the risk, we are all still using more and more plastics and gas.
Yahoo! Finance User - Friday March 07, 2008 07:13AM EST
What's wrong with America is we have all been suckers for this oil price gouging crap they are feeding us. Do you want to know why oil prices are so high? It's because when the oil/gas companies decided to go into this thing called "energy" in the late 90's it was a windfall of revenue. When the bubble burst with the Enron scandal and energy trading hit the fan sort of speak, the oil companies had no way to report any growth or revenue. So they do what all good corporations do, they hit us, you and me. We are now experiencing what it takes to make those corporations profitable, $5.00+ a gallon gas. It won't end either, because every year they will need to report more growth and until there's another answer we're in for it. Solution: Legalize illegal trading. I say let them trade air! Whatever, just don't hit my family's pocketbook. Signed: Suckers-R-Us
dissapointed - Friday March 07, 2008 07:14AM EST
What's wrong with America is we have all been suckers for this oil price gouging crap they are feeding us. Do you want to know why oil prices are so high? It's because when the oil/gas companies decided to go into this thing called "energy" in the late 90's it was a windfall of revenue. When the bubble burst with the Enron scandal and energy trading hit the fan sort of speak, the oil companies had no way to report any growth or revenue. So they do what all good corporations do, they hit us, you and me. We are now experiencing what it takes to make those corporations profitable, $5.00+ a gallon gas. It won't end either, because every year they will need to report more growth and until there's another answer we're in for it. Solution: Legalize illegal trading. I say let them trade air! Whatever, just don't hit my family's pocketbook. Signed: Suckers-R-Us
dissapointed - Friday March 07, 2008 07:15AM EST
What's wrong with America is we have all been suckers for this oil price gouging crap they are feeding us. Do you want to know why oil prices are so high? It's because when the oil/gas companies decided to go into this thing called "energy" in the late 90's it was a windfall of revenue. When the bubble burst with the Enron scandal and energy trading hit the fan sort of speak, the oil companies had no way to report any growth or revenue. So they do what all good corporations do, they hit us, you and me. We are now experiencing what it takes to make those corporations profitable, $5.00+ a gallon gas. It won't end either, because every year they will need to report more growth and until there's another answer we're in for it. Solution: Legalize illegal trading. I say let them trade air! Whatever, just don't hit my family's pocketbook. Signed: Suckers-R-Us
dissapointed - Friday March 07, 2008 07:15AM EST
What's wrong with America is we have all been s uckers for this oil price gouging crap they are feeding us. Do you want to know why oil prices are so high? It's because when the oil/gas companies decided to go into this thing called "energy" in the late 90's it was a windfall of revenue. When the bubble burst with the Enron scandal and energy trading hit the fan sort of speak, the oil companies had no way to report any growth or revenue. So they do what all good corporations do, they hit us, you and me. We are now experiencing what it takes to make those corporations profitable, $5.00+ a gallon gas. It won't end either, because every year they will need to report more growth and until there's another answer we're in for it. Solution: Legalize illegal trading. I say let them trade air! Whatever, just don't hit my family's pocketbook. Signed: S uckers-R-Us
dissapointed - Friday March 07, 2008 07:17AM EST
What's wrong with America is we have all been suckers for this oil price gouging they are feeding us. Do you want to know why oil prices are so high? It's because when the oil/gas comps decided to go into this thing called "energy" in the late 90's it was a windfall of revenue. When the bubble burst with the Enron scandal and energy trading hit the fan sort of speak, the oil companies had no way to report any growth or revenue. So they do what all good corps do, they hit us, you and me. We are now experiencing what it takes to make those corps profitable, $5.00 a gallon gas. It won't end either, because every year they will need to report more growth and until there's another answer we're in for it. Solution: Legalize illegal trading. I say let them trade air! Whatever, just don't hit my family's pocketbook. Signed: Suckers-R-Us
james - Friday March 07, 2008 07:17AM EST
Shut the f* up and the economy will be back on track once the f* monkey is gone. Like father like son.
dissapointed - Friday March 07, 2008 07:19AM EST
What's wrong with America is we have all been suckers for this oil price gouging crap they are feeding us. Do you want to know why oil prices are so high? It's because when the oil/gas companies decided to go into this thing called "energy" in the late 90's it was a windfall of revenue. When the bubble burst with the Enron scandal and energy trading hit the fan sort of speak, the oil companies had no way to report any growth or revenue....... cont...
dissapointed - Friday March 07, 2008 07:19AM EST
cont.... So they do what all good corporations do, they hit us, you and me. We are now experiencing what it takes to make those corporations profitable, $5.00+ a gallon gas. It won't end either, because every year they will need to report more growth and until there's another answer we're in for it. Solution: Legalize illegal trading. I say let them trade air! Whatever, just don't hit my family's pocketbook. Signed: Suckers-R-Us
dissapointed - Friday March 07, 2008 07:26AM EST
Sucker see, sucker do, the monkey is you.
William - Friday March 07, 2008 08:06AM EST
We need to start taking care of America. We do not know how to fight wars. We do not take care of its people. A child in America has no one for protection. The money we are throwing at the rest of the world should stay here. We need to be more frugal. It should not be "cool" to spend thousands of dollars for short term things all the time (sporting events, exotic vacations, big cars that we buy because Joe Blow does or you are what you drive). WE have control. It is with our pocket book. Even with monkey gone, nothing will really change unless we tax the super rich. They have had it great for a long time. We need a strong military, but we don't go to was unless it is to win immediately. Aid to other countries has to stop until we have taken care of are own. Save, spend frugally, make fun of the idiot who has the $40,000 suv or is spending hundreds to some event that really is meaningless, take care of each other. Screw the politicians. Why do you think they spend so much money and time to get elected? Each person has to decide to look cool and be poor or look okay and have money.
Dom - Friday March 07, 2008 08:10AM EST
with a party (republican) in the pocket of the oil companies what u expect?
Yahoo! Finance User - Friday March 07, 2008 07:17PM EST
Aaron Task...you sure you know what your talking about? After the SDK news RIMM went from an opening of $101 to a close of $98 today. I hardly think $3 is a slam. iPhone is nice but I bet you have a Blackberry, if you don't you should go and get one.
Want to post a comment? Sign in now to begin.
Recent Posts
Most Recommended
Copyright/IP Policy - Terms of Service - Privacy Policy - Help
Quotes delayed, except where indicated otherwise. Delay times are 15 mins for NASDAQ, NYSE and Amex. See also delay times for other exchanges.
Quotes and other information supplied by independent providers identified on the Yahoo! Finance partner page. Quotes are updated automatically, but will be turned off after 25 minutes of inactivity. Quotes are delayed at least 15 minutes for NASDAQ, NYSE and Amex. See also delay times for other exchanges. Real-Time continuous streaming quotes are available through our premium service. You may turn streaming quotes on or off. Fundamental company data provided by Capital IQ. Financials data provided by Edgar Online. Historical chart data and daily updates provided by Commodity Systems, Inc. (CSI). International historical chart data, daily updates, fund summary, fund performance, dividend data and Morningstar Index data provided by Morningstar, Inc. Analyst estimates data provided by Thomson Financial Network. All data provided by Thomson Financial Network is based solely upon research information provided by third party analysts. Yahoo! has not reviewed, and in no way endorses the validity of such data. Yahoo! and ThomsonFN shall not be liable for any actions taken in reliance thereon. All information provided "as is" for informational purposes only, not intended for trading purposes or advice. Neither Yahoo! nor any of independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. By accessing the Yahoo! site, you agree not to redistribute the information found therein.
madmilker - Thursday March 06, 2008 04:51PM EST
Them ther hits are gonna turn into.......one big question! what does the US make in America beside debt! And until the American people get so tight with a George Washington their breath smells like sh!! and they squeak when they walk it's gonna be one bumpy ride.