INTC revenues came in a bit weak and the stock printed a wild electromagnetic pulse after hours but is mostly unchanged. IBM is up afterhours and SNDK reported great numbers ripping bears to shreds and storing the gif for future enjoyment.
Clearly technology stocks are a store of value. Be sure to ignore EBAY, the home of porn stars and packrats, they’re getting crushed after hours after guiding lower.
It’s been a rather mild first inning of earnings, has it not? Where’s all the fire and brimstone I heard so much about? There’s a lot of baseball left I suppose…
We’re trading along rather quietly amongst the all-time highs this week in many names. My favorite 52 week high is Zillow, printing a very sexual 69 high water mark. Leave it to the real estate folks…
The SPY printed a pronounced head and shoulders pattern intraday, but it never followed thru. It tried once, but was pinched higher after a lack of follow through was presented in the form of selling. We did have a very aggressive seller reaction at the highs this morning. It resulted in me staying long in the futures market all session long, missing lunch, and eventually closing the position for small, stupid gain.
I have so many longs set up well, I had to sell a few shares as sacrifice to the rally gods. I scaled off some FB and some IMMR.
This also gave me some much needed cash, which I promptly placed into GRPN. I know I like today’s action and I’m one to put money where my mouth is. Beyond that I abhor Groupon mainly because I’ve only actually used 2 of the 10 coupons I bought. My assistant buys most of his lunches via their ‘Now’ service, but he has much more time on his hands.
For the day, I’m up on all accounts, albeit modestly. I still want my space launch.If you enjoy the content at iBankCoin, please follow us on Twitter