Two Ways To Play: Google's New Measuring Stick
Strengthen your portfolio in good times and bad.
The Wall Street Journal reports Google (GOOG) plans to unveil as early as today a new service that measures Internet use. The tool is intended to boost ad sales by letting advertisers know the best places to buy online ads through identifying the web sites that their target audiences visit.
Some believe the tool can bring more efficiency to the process of buying online ads, but other executives are leery of placing more power in the company's hands. Todd mentioned Google yesterday in Toddo on TV.
From the Bull Pen: Is Broadcom (BRCM) a better upside play in the tech space? Those bullish can set near-term sell-stops below $25.
From the Bear Cave: Will the tool be enough to save Google? Can the company overcome the industry trend of declining ad sales? Bears may play the downside in GOOG using trades above $560 as a near-term buy-stop.
Harvard Says More Housing Gloom
According to the Wall Street Journal, Harvard University's Joint Center for Housing Studies said the housing market still hasn't run its full course and is already shaping up to be the worst in a generation. In its "State of the Nation's Housing" released yesterday, the center said local markets are dealing with drops in housing starts, new-home sales, and existing-home sales that are comparable to the deepest slowdowns since the World War II era. Further, Nicolas Retsinas, director of the center, said if job losses increase in the coming months, it could push any recover in the market farther out. It could be "the last shoe to drop," he said, "but a pretty heavy shoe." See Professor Mish Shedlock's Rising Unemployment Takes Its Toll.
From the Bull Pen: Bulls can look elsewhere for an upside play. ConAgra (CAG) may be a decent risk/reward opportunity; sell-stops can be set below $21.70.
From the Bear Cave: Those bearish can play the downside using the DJ US real estate index (IYR); buy-stops can be set above $66.
For more ideas in real time throughout the trading day, check out Minyanville's Buzz & Banter.
Quick Check Around the World
Asian trading closed with the Hang Seng -1.14%, Nikkei -0.06%, Sensex -1.31%, Taiwan -1.76% and Shanghai +1.54%.
A quick glance towards Europe finds the CAC -0.94%, DAX -1.52%, FTSE -1.01
As of 8:40 AM EST, S&P futures are lower -7 points to 1311, and Nasdaq futures are down -13.5 points to 1904.
A Look At Commodities
In commodities, crude oil is higher +1.24 to 137.98. Gold is trading higher +3.00 to 887.80. Silver is up +0.050 to 16.840, and copper is lower -3.40 to 378.00.
The dollar index is lower -0.137 to 73.296.
On the Radar
9:00 S&P/CaseShiller Home Price Index: 172.2 Prior
9:00 S&P/CaseShiller Composite – 20 (Y/Y): -15.9 cons.
10:00 Consumer Confidence: 56.3 cons.
10:00 Richmond Fed Mfg. Index: -6 cons.
10:00 House Price Index (m/m): -0.5% cons..
Click here for the full trading radar.
Good luck today!
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