iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
19,219 Blog Posts

Market Proved Nothing Today — Bored to Death in Jack-Shit Session

Good news for those of you keeping track.

Over at Casa Del Fly — the house is now brimming with the hottest and the best water money could buy. The coldest water can be found here — freely flowing from the disgusting Mercer County reservoir, which is laden heavily with lead and other toxic materials. As a point in fact, the Mercer County water is so bad — it’s poisonous. More than that, it destroys all of the copper pipes in the walls, causing floods throughout the county. The plumbers love the water — because it keeps them busy. I hate the water — because it causes a sundry of problems and also because it’s poisonous.

The house is now screaming with the tunes of Stan Getz, arguably the best jazz musician of all time.

I didn’t do much today, other than sell PYX for breakeven. I’m going thru a spate of bad trades again, mostly small and non-eventful — but that’s the point — uneventful. In the big scheme of things, unless you’re turning over your portfolio on a constant basis, expect to make little whilst the market consolidates and trades sideways.

It’s my belief markets will remain held down thru March. In the meantime, gold is in the bull market and poised to break higher. Today was a down day — but those down days, at least recently, have proven to be excellent entry points.

UPDATE: Smartphone foundry — AMRK warned.

Reports Q4 (Dec) earnings of $0.12 per share, $0.04 better than the S&P Capital IQ Consensus of $0.08; revenues fell 5.8% year/year to $1.08 bln vs the $1.06 bln S&P Capital IQ Consensus.
Reports gross margin of 16.9%.

Co issues downside guidance for Q1, sees EPS of ($0.27)-($0.07) vs. $0.03 S&P Capital IQ Consensus; sees Q1 revs of $840-$920 mln vs. $1.02 bln two analyst estimate. Sees gross margin of 9-13%.

Commentary: “Our first quarter revenue guidance reflects the inventory correction currently underway in the smartphone market.”

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3 comments

  1. it is showtime

    Well, Well, Well
    the ol’ Baltic Dry Index makes an entrance
    https://www.bloomberg.com/quote/BDIY:IND
    pancake level: fumes

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  2. jonnybegood2

    agreed. i don’t see the need to trade much pending the Chyna deadline. I am currently completely out of the marijuana tickers so hoping they fall a bit further and i’ll start buying weed again. other than that some easy dividend capture and not much else. hoping CVX falls over the next couple days into its 2/14 ex date.

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  3. flea

    “The house is now screaming with the tunes of Stan Getz…”

    Dude – do you not smoke too much???

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