So yesterday was impressive to say the least. None the less I do not take stock in kitchen sink q’s.
Bulls got the best of both worlds with the greenback spiking through the 50 day along with oil breaking key support (intraday that is.) The dollar is running like herring this morning on ADP’s job report.
The SEC will extend it “no naked short sales for the financials”…egregious. Stop naked shorts for the entire market….The Federal Reserve with also extend the term aution facility until January ’09.
Yesterday’s best beat after hours was [[ADVS]] should be a momo’ trade here. This mornings best beat was [[BWLD]]
Today I will take down some TTEK for earnings after the close tonight.
Last q TTEK beat on the top and bottom line. They are looking for .24 cent eps with $285-$305mm in rev.’s {sic}.
I will also push out some [[EME]] today with prints from $25.50 -$26.83.
As far as the markets are concerned, the S&P should show us follow through with a hopeful close of 1281 or better. Just in case I’ll take 1274.
GLT
by GW
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The term “MacDaddy Rally” should be made an official term in the IBC dictionary, love it.
I also sold my TTEK, like it a lot, but don’t trust those big plunges that have been occurring regularly after earnings.
TTEK is a toss up…since the sector has been good I’ll be taking a chance with it…win or loose I’m out 9:35 tomorrow.
GLT
looks like I’ll soon get a chance to get back into GLD thanks to the dollar rally, hopefully around $85
Boca,
My sentiments exactly..GLD @$85-$87 is the play…wait to see GDP tomorrow and unemployment on Friday.
I’m also looking to buy SRS @ $86 or less and SKF @ $112 or less.
These buys coincide with my estimation of 1287-1310 top on S&P…if the bulls are lucky they might see 1325-1335.
Peace
GW, Nice trade in EME, way ta go!
You get those oil/gas plays? I hopped in earlier than expected on CHK and XTO and waiting on RRC to pull back some more. XTO has Bakken covered and CHK has Fayetteville, Barnett and Haynesville covered while RRC could be the big play in Marcellus. Other than that PDE in drilling … MUR, COP, CVX, HES & OXY look good in oil. MRO could be a sleeper hold long term.
How bout the small e&p’s … you were accumulating AEZ, no?
I got some KOG, TIV, DPTR, KAZ, EGY for long term holds.
Still looking for 1290-1325 spx but if oil rallies too much here there could be a delay or reversal … still think we move up into early-mid next week … we shall see.
E’8,
Thanx on EME….Oil is running and could hault this rally.
I just got in and see that our rally has vanished.
I am in HK and CHK, but I have left the little ones alone.
I might step into NGAS and BEXP…just want to see where oil closes.
I missed FTK this morning…
Peace