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Buzz Bits: Dow, Nasdaq Surge


Your daily Buzz & Banter highlights...

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

Diversity Day - Quint Tatro - 3:35 PM

It sure is a diverse tape today. The NASDAQ can't quite seem to break through the 50 day moving average and while the S&P is back above its 200 day, all eyes will be on the 1480 level should we see any follow through. The QQQQ looks the best however that is only a small basket of the overall market and so far they are only filling the gap from September 7th.

As we head down the stretch, I am doing some portfolio reshuffling. I am trying to pare back some higher beta names like Ascent (ASTI) but will keep a piece to stay in the game. I did start Broadcom (BRCM) which looks as if it wants to break above recent resistance and join its other large cap tech friends in 52 week high land. I continue to watch Intel (INTC) as the tech tel and feel that a break over $26.43 may really get these stocks running.

The squeeze may be on for now, but keep in mind that we are still damaged technically and any bounce may be short lived until we see some much needed repair.

Position in INTC, BRCM.

Rainy Randoms - Jeff Macke - 3:13 PM

Greetings from the NASDAQ where I'm sharing a green room with Erin Burnett. (As far as bullet-point lead-ins go, I think that one works as a stand-alone...)

  • Activision (ATVI) and the rest of the gamers are giddy today after some decent earnings from Take-Two (TTWO) and a build-up in expectations for Microsoft's (MSFT) Halo 3. The latter, of course, only impacts Microsoft but giddy is giddy and it's that kind of day.

  • Beyond just a generalized good mood, the gamers get a backhand benefit from Mattel's (MAT) on-going woes. Christmas doesn't die just because of Chinese recalls; it simply morphs to other companies.

  • Oh Mickey D's (MCD), you're so fine... said it last night and I'll almost certainly say it again, McDonald's is simply one of the best managed companies on Earth. It manages the core business, it manages the stock and it manages the franchisees. Folks, there's nothing else a restaurant chain can do to make itself an attractive investment.

  • I don't normally plug Fast Money in this space (um... long story) but I'm excited for tonight's Macke's Mark-Up. The point of looking for trading ideas in the stores isn't just the store itself... it's the products. Lotta ideas on those shelves, people. Tune in tonight to see what I mean.

Position in ATVI.

Semi Spotting - Sean Udall - 2:55 PM

Do we see Texas Instruments (TXN) pull an Intel (INTC) and raise the midpoint? I think the odds are better than 50/50. But it could easily be more of a non-event. My only action would be to use any sell the news reaction as a potential entry into other semis.

As stated in previous Buzzes, I like Broadcom (BRCM) and Marvell (MRVL), but a couple other stocks' charts are looking pretty good.

National Semiconductor (NSM) and Xilinx (XLNX) both look good on a longer term basis and Xilinx looks good on about any time frame. Note the very long base on Xilinx and any strength could result in a big break like we saw in early 2004.

Additionally, both companies had some positive fundamental news on earnings guides recently. Bottom line, I'm hoping for some Xilinx selling to buy into.

Positions in BRCM and MRVL.

Consumers Still Spending... How? - Mr. Practical - 11:29 AM

Consumers so far have somehow been able to keep buying despite the seizure of the credit markets. How are they doing it? This from LSR Research, a group I have found that honors the facts and dismisses rhetoric:

Click here to enlarge.

The credit card companies seem willing to keep lending as the consumers' balance sheet continues to erode. The consumer is actually going up the risk curve when markets are trying to go down this. Is this some sign of prescience by the consumer or one of desperation?

I think most Minyans know the probable answer to that right now. I can respect prudent risk taking, but risk-taking for the sake of desperation is very dangerous.

Globalization is about flattening the world's standard of living. Asia's is rising at the expense of the U.S. It is not a zero sum game over the long run, but in the short run (several years) it could be a negative sum game with all the debt that has been created. Very simply, U.S. consumers are trying to maintain their standard of living by taking out riskier and riskier debt to replace income they have lost to Asia.

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