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Buzz Bits: Dow, Nasdaq Climb Into Green


Your daily Buzz & Banter highlights...


Editor's Note: This is a small sample of the content available on the Buzz and Banter.

Earnings Report - MV News

  • Applied Materials (AMAT) reports 1Q EPS in-line of $0.27 on revs of $2.28 bln vs. $2.35 bln cons.
  • Altera (ALTR) reports 4Q EPS of $0.22 vs. $0.24 on revs of $317.4 mln vs. $320.3 mln cons.
  • MetLife (MET) reports 4Q EPS of $1.36 vs. $1.18 cons on revs of $12.89 bln vs. $12.65 bln cons.
  • NVIDIA (NVDA) reports 4Q EPS of $0.53 vs. $0.42 on revs of $878.9 mln vs. $865.1 mln cons.

Answers I Really Want to Know... - Todd Harrison - 3:42 PM

  • Why are all Lucky Brand XL shirts a size too small?

  • What is today's tech action telling us?

  • At what point do folks start to hedge on Big Ben's testimony tomorrow?

  • Fokker Kahn? Fokker Kahn?

  • OSX 200? Again?

  • Am I gonna get my chance to buy back some Goldenstar at $3.30ish?

  • Spooz up nine yet the piggies can't shake the ties that bind (BKX 119)?

  • Isn't it awesome that I'm gonna get slobbernocked with my grandmother this weekend?

  • And just like that, the VXO is down 12%?

  • Is Fortress the tip of a trend that's gonna leverage liquidity for a last gasp bubble?


position in gss, financials

Around the Horn - Kevin Depew - 12:38 PM

  • Taking a look around as I emerge from a rather busy morning that almost got the better of me... almost.
  • Note that with the green spread rather evenly and robust, one might think new point and figure buy signals are today leading new sell signals, but the reality is they are dead even at 10 apiece.
  • Overall buy signals are leading 25 to 16, however.
  • Minyan Jeremy asks about Nomura Holdings (NMR) on a point and figure basis. I don't particularly like the pattern, lower highs and higher highs, a broadening formation. The point and figure price objective is 28.50, but the objective has been unstable due to the pattern, so I would ignore it.
  • Minyan MM asks about IBM on a point and figure basis. I continue to be a fan of large cap stocks, and IBM has a positive overall pattern. I see no DeMark TD-Sequential exhaustion points on the daily chart, but would note that 97 is a very important support level in DeMark terms.

Mini-Minyan Mailbag - Lance Lewis - 10:21 AM

Prof. Lewis,

Are you aware (must be!) that the Golden Star (GSS) warrants drop dead tomorrow at the close of business? Conversion price for one warrant is $4.60 Canadian which is about $3.93 American. I don't know how many of the warrants are outstanding. Maybe you guys can fill me in.

Love the 'Ville,
Minyan Bill


There are 8.5 million warrants outstanding (GSS has 208 mln shares outstanding). Should they expire worthless tomorrow, it would obviously be a positive for the stock since the expected dilution from the warrants would never occur.


Position in GSS

The Quiet Before the Storm? - William Fleckenstein - 10:14 AM

I received several- emails over the weekend which noted that closed-door meetings were taking place at financial institutions that fund subprime companies. I would imagine there was a good deal of angst at many organizations, and I think it will be rather difficult to put the genie back in the bottle, as it were. My expectation is that problems in credit land ought to continue to spread (though, judging by yesterday's limited weakness in housing/housing-finance, it hasn't happened just yet). And, if that's the case, we shouldn't need a magnifying glass to find them. Consequently, the next week or two ought to tell us a lot.

Technician-Heavy Structure, Potential for Rupture

As far as the market itself goes, both Justin Mamis and Dennis Gartman noted yesterday morning that there were a number of big reversals in many key stocks and indices last week -- meaning that the technical picture of the market has worsened considerably. Of course, with so many people being action-oriented operators, if the technical structure of the market deteriorates and that precipitates some additional selling, perhaps fundamentals may get a chance to gain the upper hand.

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No positions in stocks mentioned.

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