Friday, January 15, 2010

A Little Different Reaction...

So Intel beats, and guides higher.  No surprise here, as analysts continue to play ball.  But the reaction was a bit unexpected.  I was thinking this was a situation where we traded higher on good news or bad news, and traded lower only on bad news.  This has been the case lately.  But, the market loves to make people look foolish, and if you think you've got it figured out, you usually don't.  JP Morgan also reported a big profit number today, even though Dimon expressed caution.

We got a fairly ho-hum sell-off.  No panic out there.  Lots of interesting stuff though.  I did buy a small position into American Capital (ACAS), following a few good value traders out there. 

There is a ton of value out there at Loews (L).  I was doing some quick math on their holdings and you can buy the stock and basically get their private businesses like Loews Hotels for free.  I'll be writing more about it as a buy shares. 

I've got a lot of stocks I'd like to buy, but am seeing how this plays out.  If we get more "sell the news" reaction to earnings regardless the outcome, I can't say I'd be unhappy.

We've got a couple of really interesting weeks coming up, and I will be posting a lot more as I'll likely be glued to the monitor. 

Have a great weekend all!

Disclosure: Long ACAS

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