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
19,327 Blog Posts

Down or Up — Where We Heading Next?

Biotech lotto bombs aside, where is the overall direction of the market heading next? Are today’s jobs numbers more important than AMKR saying, about a month ago, that their unit shipments to Apple were -30% into year end? I think not.

The jobs report is a lagging indicator, but it becomes very real to Main Street when they’re reported. Sometimes the things we already knew become more serious once reported upon officially — such as a Lehman or a Bear bankruptcy. We all knew it’d happen. And when it did — it rocked markets.

I think it’s important to moderate opinions until we hear some guidance out of Apple. I really do think it’s that important. In the interim, book profits whenever you can and try not to get lured back into stocks on a Friday after a wretched jobs report, coupled with sharply lower crude and weakness in the junk bond market.

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5 comments

  1. edge

    I wish I would have taken my short profits at the bell. I would have bought it all back by now. Not covering yet.

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  2. edge

    The 200d on SMH is the roadblock IMO.

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  3. edge

    The 20, 50, 200d avgs attracting a lot of attention in everything.

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  4. og

    Are we back to markets don’t bottom on Fridays?

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  5. numbersgame

    “guidance out of Apple” Agreed that is key. Their next earnigns call should take the stock above 180 or below 170.

    However, besides AMKR, we have China numbers from just this week. If I remember correctly, AAPL last earnigns call based their miss on the China market. Seem to me that the news out of China this week would point to continued weaknes in that amrket.

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