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Buzz Bits: Dow, Nasdaq Creep Ahead


Your daily Buzz & Banter highlights...

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

eBay: Still Kicking - Jeff Macke - 2:25 PM

Of the list of point n' figure breakouts just mentioned by Pepe, I'm paying closest attention to eBay (EBAY).

The company falls into the category of a fallen rocket that just may be getting its act back together after dealing with the laundry list of issues stemming from being a rocket of a stock and company. Some of those old timers have been great this year, including Priceline (PCLN) and Cisco (CSCO). Of course, Yahoo (YHOO) also is also in that camp and it remains dead to me... still, put it on your radar.

With that I'm off to make some Tee Vee. Have a great and safe weekend, Minyans, and catch your rest; it figures to get pretty busy next week.

A few more catch-up items... - David Miller - 1:49 PM

Here are a couple (non-biotech) thoughts as I wade through the stacks of stuff accumulated while on my recent vacation:
  • Seattle went from one of the highest gas prices in the nation to the lowest summer-to-summer. I have firsthand experience with this as we paid more for gas nearly everywhere on our trip than we did here in Seattle. The difference? Who knows, but I bet the WA Attorney General's ongoing investigation into gasoline price fixing didn't hurt.

  • Keep an eye on Horizon Lines (HRZ). I know next to nothing about this company except this: In early 2008 comes a decision to build a monster Alaskan natural gas pipeline. Horizon is one of three main shipping companies here in the Puget Sound with established freight business to Alaska (the other two are private). Local forecasters are expecting this to be on the scale of the oil pipeline freight rush, which was huge. Horizon says they don't disclose revenues on a regional basis, and in fact seem levered particularly to Puerto Rico given recent earnings misses, but it might be worth placing on your radar. Mid American Energy (MDPWK) is the only publicly-declared bidder on the project.

Magic Kingdom - Jeffrey Cooper - 12:01 PM

As a trading buddy just pinged me: Clear as mud, someone is at work here. More bad news, reaction on the open, then back to the "unched" level -- gone in 60 minutes. Houdini has nothin' on these guys.

Navteq (NVT) is strong in the face of yesterday's reversal, Remember, fast moves come from failed moves. There was no follow through from yesterday's LROD, large range outside day down, and follow through is key.

Blue Coat (BCSI) is poised to pop out of a first pullback on its 10 minute today. I'm watching the behavior of Goldman Sachs (GS) as it grazes the 190 strike once again.

Position in NVT.

Seriously bored randoms... - Fil Zucchi - 11:49 AM

  • I should shut down the screens and go play golf before I push the wrong buy/sell button. Days like these ahead of a week with more action than a Tiger Woods wedge are not meant for trading.

  • Yesterday I nibbled on NYSE Euronext (NYX), but the real temptation to add in the exchanges group comes from TSX Inc. (X CN). I bought in a while back, but with all commodities screaming this story has got to be getting better by the day.

  • So Ari Hovnanian suggests that homies are very close to the bottom. Thanks for stating the obvious.

  • Nucor (NUE) warned the other day and the stock went up. I have re-thought my Vectors Steel (SLX) short. (Thanks again Prof. Adami).

  • Have the grains and energy markets been volatile enough? Is FC Stone (FCSX) benefiting? Inquiring minds wanna know.

Positions in gold/gold equities, NYX, X CN, FCSX.

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No positions in stocks mentioned.

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