Buzz Bits: Dow, Nasdaq Close in the Green
Your daily Buzz highlights...
Editor's Note: This is a small sample of the content available on the Buzz and Banter.
Bell Buzz - Todd Harrison - 3:40 PM
- Yeah, it's tough to focus on the tape when we've got 72 hours of pigskin and Jack Bauer waiting for us (dink, dink, dink dink...). Still, as the risk profile you go home with will be the one you awake with on Tuesday, splash some water on that puss and bring it home.
- And eyeball S&P 1432 while ya at it. We're there, and we're testing.
- "What's happened now is the flipping activity is just reflective of today's real estate climate," said Steve Morgan, the company's senior vice president. "Investors, if they can, have adopted a buy and hold strategy until prices come back up."
- Wasn't there a commandment once that said "Don't let your bad trades turn into investments?"
- The "surprise" Iran attack? I've long believed that it's very possible before Dubya leaves office and some big bank types are starting to pick up on that vibe too. From a pure investing standpoint, it's another reason why I don't mind being weighted to energy and metals.
- The ability not to trade is often as important as trading ability. Especially with 9000 hedge funds standing in a circle shooting at each other. And particularly given the "unknown" that are earnings and expiration next week.
- Where's Carl Spackler when you need him most?
- With that, I'm gonna turn my attention to the pile of "to do's" before our "Are you kidding--an editorial meeting on Friday afternoon" editorial meeting. I've gotta lotta ketchup on my plate for the weekend--including fine tuning next week's Ameritrade gig--but you know what? It's all good.
- Fare ye well into the bell and have a fantastic weekend!
positions in energy and metals
Coldwater Creek and Ann Taylor - Jeff Macke - 11:41 AM
Fresh back from a "remote shoot" for Fast Money, I've finally got a minute to take a couple of questions from participants in last night's TD Ameritrade webcast.
Coldwater Creek (CWTR): I no longer own the stock. The company didn't really do anything wrong, I just think it's in the process of digesting some big moves, both operationally (morphing from catalogue to store focus) and as a big-picture stock story. Like all specialty, I expect CWTR to be volatile in 2007. I could get more bullish on the stock as we near Spring if I can still get in the lower 20's.
Ann Taylor (ANN): The chart is making a rounded bottom (always a popular chart pattern) but the stores are making me yawn. There's better money to be made elsewhere, from where I'm sitting (in flowing robes on top of Mt. Judgement).
Left Field - Fil Zucchi - 10:48 AM
I may be way off base here, but piling on the dark side of Advanced Micro (AMD) down here makes little to no sense to me. Remember back in March of last year when Intel (INTC) warned that AMD was eating its lunch? Right...the rest, as they say, is history.
I don't know anyone with a pulse who thought that things were all good in PC land, but apparently that "secret" didn't quite make it into AMD's stock price. Perhaps because I came into today with no skin in AMD, the stumpy in me is feeling pretty smug - a dangerous attitude if there ever was one. But, whichever way you slice it, AMD is not expensive here and not likely to go out of business any time soon (if they do I've got plenty of other stuff that's going to make me money).
I am picking away at the stock and selling February volatility on both ends for something in between a trade and a mid-term hold.
Position in AMD
What you need to know... - Jon Doctor J Najarian - 8:25 AM
SAP Shares Smacked on Soft Sales - The world's No. 1 business software maker's shares lost over 10% after it reported 4Q license sales of $1.63 bil, missing views of $1.74 bil. The strength of the Euro was partly to blame for German firm's license sales growing by just four.
Advanced Micro Devices (AMD) Warns, Shares Dip in Pre-Market – The price war against Intel (INTC) is taking its toll on AMD, which warned on both profits and revenue going forward. Many of us expected to hear that 4Q revenue was up 8% to 10% rather than just 3%. Citi downgraded AMD this morning citing shrinking gross margins.
Jobless Claims Drop – New jobless claims fell 26,000 to 299,000, which put them under 300,000 for the first time since July 22nd. The data show the economy isn't weakening and may be strengthening.
Steve Wynn Sues Lloyds Over Hole – The casino mogul and art aficionado accidentally poked a hole in one of his Picasso paintings and thought his insurance through Lloyds would cover the $54 million drop in value of the painting, but the insurance company thought otherwise. Wynn paid $48.4 million for Le Reve in 1998 and had sold it for $139 million last year, but now the value has dropped, post repaired hole, to $85 million, so Wynn is suing for $54, the difference between $139 and $85 million. And you thought you had problems.
Position in SAP
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