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Macke's Movers: Resist Google Ahead of Earnings


No such thing as "New Economy."


Hello from New York, where, despite a sizable list of good reasons for taking last night off from Fast Money I still found myself straining at my verbal leash yesterday at 5 p.m. Punchy boxers start shadowboxing whenever they hear a bell of any sort: Punchy TV talkin' guys run their mouths whenever "their" timeslot comes around regardless if anyone is listening.

Here's what I'm watching, not babbling about, as I get ready to get back in the ring tonight:

  • What do I want to do with Google (GOOG) ahead of earnings? Nothing. Nada. Bupkiss. I'd sooner stop in Atlantic City and throw my kids' tuition on Black. We old timers have seen "New Economy," "Recession Proof," "Cheap on a PEG basis" concepts before. The story doesn't end well.

  • On the off chance you're curious, I scratched yesterday's 5 p.m. talkin' itch with a spirited reading of Horton Hears a Who for the Macke Children. For better, worse and to the benefit of their future therapists, I'm a shameless ham when it comes to reading to the kids.

  • NetFlix (NFLX) is bumping against $40 today. The stock is up from the mid-20's in February when, as it turns out, Blockbuster (BBI) was secretly approaching Circuit City (CC). The last remaining player dedicated to video and DVD rental reports next Monday. I'd take profits on NFLX here, were I long, but the fact of my not being long tells you what I know.

  • Kroger (KR) is joining Sears (SHLD) in giving customers credits for spending its IRS checks in the store. At Sears you can get a bonus gift card of 10% if you exchange the entire check for a Sears gift card. Given the conversion rates of gift cards (around 85%), this puts SHLD roughly on par with those check cashing places you see in the tough part of town.

  • Minyanville's Woo Woo Kid tells me that US Air (LLC) is going to be charging more for window and aisle seats. I think young Woo Woo believed I would find this laughable. Instead I believe it to be the smartest thing out of the airline industry since the original frequent flier programs. Only jockeys and my five-year old think a middle seat near the bathroom is worth as much as an aisle seat in an exit row, despite both being in "coach." If US Air could sell me the right to sit next to underweight narcoleptics only, I'd never fly anyone else.

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No positions in stocks mentioned.

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