Hope everyone had a great weekend. We had some issues getting the week ahead together as I was supposed to handle it Sunday and had problems. Will try putting something together possibly Tuesday night. I do apologize for any troubles. I will also not be in the chatroom for the open today, Monday January 14th but will be back by 11am or so.
This week starts a major uptick in earnings with some big banks reporting mid-week. I will not be playing any of them but just keep them on watch as it may influence the market during the end of the week.
Reports out about AAPL cutting orders for components has the stock down nearly 3.7% pre-market near $500 : http://online.wsj.com/article/SB10001424127887323596204578240440691304344.html?ru=MKTW&mod=MKTW
Wont be playing it but would figure big money would be in the loop on something like that weeks before. Can’t see how the WSJ is breaking this as new news.
This is the type of article that scares me in the coming weeks and months: http://online.wsj.com/article/SB10001424127887323596204578240440691304344.html?ru=MKTW&mod=MKTW
I would bet the next black swan event will be something along the lines of a combination of the high-frequency trading programs and a margin call of epic proportions. Time will tell but putting that article in the archives for future reference.
I have spoken quite a bit about the China ADR’s and how my sentiment started to turn in the fall and I became bearish. Well looks like i continue to be wrong here as BIDU, SINA and others continue to rip higher. BIDU is partnering with a company to create browsers in africa: http://allthingsd.com/20130114/baidu-builds-a-mobile-browser-for-emerging-markets-and-gets-orange-to-pre-install-it/
Should bode well for the stock today and may help pull the other ADR’s higher like SINA.
Here are some of the Analyst changes today:
Intuitive Surgical upgraded to Buy from Neutral at Lazard Capital
Lazard Capital upgraded Intuitive Surgical with a $600 price target citing the recent pullback in shares and the company's strong procedure growth.
Verizon downgraded to Neutral from Buy at UBS
UBS downgraded Verizon to reflect lower profitability due to higher subsidy's and indirect channel costs in wireless and increased costs in wireline. Price target lowered to $44 from $48
Abercrombie & Fitch named a Best idea for 2013 at Janney Capital
Janney Capital expects Abercrombie to benefit from positive inventory and an inflection in GMROI, resulting in improved margin performance. Shares are Buy rated.
I will look to add to my SINA position possibly as I think the stock continues to trend higher. Will look for 57.5s first and then the 60s if no fill at my prices.
ISRG had a nice upgrade today and think it will try to get back to the levels before that Citron report that sent the shares reeling. Will try for 535s and maybe 540s if no fill. The spreads are pretty wide on the options so will require patience.
Again folks I will not be in the chatroom until about 11am or so, apologize for any trouble and lets start the week off in style.