Two Ways: Mobile Phone Demand Breaking Up
Strengthen your portfolio in good times and bad.
Hanging Up on Cell Phones
Gartner is out with negative comments on the mobile-phone industry. The Connecticut-based firm, specializing in information-technology research, said in a report that despite growth in 2008, sales plunged 5% in the fourth quarter. This is typically a favorable time for sales of mobile phones due to holiday demand.
Gartner now sees sales dropping 4% for 2009, and the firm's research director, Carolina Milanesi, said efforts to cut inventory will intensify in the first two quarters. Milanesi doesn't see demand stabilizing before 2010.
For more trading action, see Toddo's Random Thoughts: The Moment of Truth Approaches.
From the Bull Pen: Consider plays from technology guru Sean Udall: VMWare (VMW) and Citrix Systems (CTXS). Sell stops for both can be set near $19.
From the Bear Cave: The downside plays are becoming more scarce as we become increasingly oversold. An opportunity in Sony (SNE) might exist on a rally back to near $18-$19. If and when.
Quick Check Around the World
Asian trading closed with the Hang Seng -2.30%, Nikkei -0.69%, India -2.09%, Taiwan 0.21% and Shanghai -1.05%.
Glancing towards Europe, we see the CAC +0.54%, DAX +0.14%, FTSE -1.53%,
As of 8:00 AM EST, S&P Futures are trading +2 to 707, and Nasdaq futures are +4 to 1089.
A Look At Commodities
Crude oil is trading +0.72 to 40.87. Gold is -16.3 to 923.70. Silver is -0.36 to 12.700, and copper +6.40 to 157.15.
The dollar index is -0.1850 to 88.8850.
On the Radar
10:00 Pending Home Sales MoM -3.00%
Click here for the full trading radar.
Turnaround Tuesday isn't a guarantee. So don't hope for that reversal. Good luck, Minyans!
Actionable ideas, instant analysis. Real-time from bell to bell.
Minyanville's Buzz & Banter - 14 day FREE trial
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.
Copyright 2011 Minyanville Media, Inc. All Rights Reserved.
Daily Recap Newsletter