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Two Ways: Sony Tries to Turn the Page on Kindle


Strengthen your portfolio in good times and bad.


Reading Book Wars

Sony (SNE) and Google (GOOG) are joining forces and challenging Amazon (AMZN) in the digital book market. According to the Wall Street Journal, they're forging a partnership that will give users of Sony's Reader Digital Book free access to over 500,000 public domain books from Google. Sony has sold over 400,000 of its Readers, which range in price from $300 to $350. Amazon has yet to disclose sales figures for its popular Kindle, but Citigroup estimates the company moved approximately 500,000 units last year.

It's important to note that Google has the option of striking a partnership with Amazon as well, because the terms of its deal with Sony aren't exclusive. A Google spokesperson said the parties aren't in talks, but Amazon is open to the idea.

From the Bull Pen: Of the 3, Google seems to provide the best risk versus reward. Those bullish can start an initial position here with a sell stop near $325-ish.

From the Bear Cave
: Amazon has had a nice run recently. Although it's one of the strongest players in the group, the stock could be due for a pullback. Aggressive bears can play the downside with a tight buy stop near $72.

Quick Check Around the World

Asian trading closed with the Hang Seng 0.10%, Nikkei -0.33%, India 0.28%, Taiwan 0.23% and Shanghai 1.89%.

Glancing towards Europe, we see the CAC 0.82%, DAX 0.86%, FTSE 0.52%

As of 8:00 AM EST, S&P Futures are trading -2 to 794, and Nasdaq futures are +12to 1014.

A Look at Commodities

Crude oil is trading 1.97 to 50.11. Gold is +47.6 to 936.70. Silver is +0.91 to 12.850, and copper +6.85 to 178.50.

The dollar index is -1.175 to 83.8050.

On the Radar


08:30 Initial Jobless Claims 640k
08:30 Continuing Claims
10:00 Leading Indicators
10:00 Philadelphia Fed.

Click here for the full trading radar.

Thirsty Thursday! Good luck and have a great day!

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No positions in stocks mentioned.

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