5pm We started higher today for quite a while and the market simply ran out of steam. The financials looked strong on a weak tape and Oil looked good. There are still WAY too many issues out there to be really bullish but there are some encouraging signs here. IBM (IBM) had some great news about earnings, raises, and a share buyback. Chubb (CB) raised their dividend.
We are still uncertain about what the rules are going to be from Washington. There needs to be more certainty about companies making money (remember that?). We need to see some stabilization in the financial system and the housing market. There are still a lot of things to work out before we can call this market healthy.
That said, there are still ways to make money. Stay tuned, and until next time, stay low risk..
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2 comments:
I have always liked IBM long, but I also like amazon.com but I think this week we will see a sell off and be able to pick it back up for under 60 a share.
I like IBM long term as well. They are much more of a services company than they ever were. I think they will be a real beneficiary of the government pork.. er.. stimulus bill.
I think AMZN is more of a volatility play though. They are an outstanding retailer, but the volatility can kill you. take advantage of the volatility by using options around earnings.
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