Watching the Dow slowly fall when noon hit is a good sign that today’s rally is developing into a “dead cat bounce.” (was that a run-on sentence?) Anyway, anything can happen in the final hour, but if we don’t finish strong then sorry, the bottom has yet to come.
Another Watch List
- XING- this Chinese telephone company boosted earnings from about .17 to “well over $1.00”; that’s a huge jump.
- VSE– can you believe that the highly anticipated ethanol actually dropped into the red for a few minutes?! Currently it’s at $28.01, but this stock went as high as $30.75 earlier this morning (10% swing!). Just as I suspected, PEIX is having an influence on this stock. Now that PEIX has cooled off, so has VSE.
- MA- speaking of recent IPOs, MasterCard is experiencing a lot of “flipping” lately- investors who got in at an attractive price are taking profits. MA is down about $1.00 today, making it three consecutive days of decline after reaching a high of $50 last week.
