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Friday Musings: Microsoft Amazes, Is Merrill Saved?


"Mortal Plunge Peril" doesn't seem to be today's business.

Greetings from New York where I'm resting my voice and mulling various positions after a crazy week. Let's cut to the chase...

  • Microsoft (MSFT) had the best quarter I've seen out of it in roughly a zillion years. I don't think the move today is particularly "out of line" but I'd rather wait for the stock to pull back to the $32 area ("Past resistance" as Guy and I have been terming it on Fast Money) before adding a long.

  • I'm still long half my original position (in share count) on EMC (EMC), which also took the steel-toed boots to estimates. The stock owes me absolutely not one penny more in gains but it's hard to sell names with that much technical and fundamental momentum. Come to think of it, that might be another reason to trim some more of it.

  • The difference between a trade an investment? If Intel (INTC) were in any way a trade, I'd punt it from my books in a second instead of mulling ways to hedge it. If you'd told me Mr. Softie would have a 17% week (!) I would have expected much better than a slight drop for MSFT's former duopoly buddy, INTC.

  • So... you think Merrill (MER) booting the Stan O'Neal is going to save the stock, eh? My counter argument starts and ends with the one year chart of Home Depot (HD).

  • Yahoo (YHOO); I'm still digging it.

  • The Tape as a Whole: wouldn't shock me to see it red by the end of the day but "Mortal Plunge Peril" doesn't seem to be today's business.

  • Watching the start of World Series game last night, my two-year old (Young Superfly Macke) looked at the TV and asked "Yankees?". The speed and genuine annoyance with which I corrected him about it being the Red Sox made me feel like New York has, at last, officially become home.
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Positions in EMC, YHOO and INTC.

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