Two Ways To Play: Nokonfidence In Nokia
Strengthen your portfolio in good times and bad.
As reasons for the cut in guidance, the company cited a drop in consumer confidence that would weaken demand in multiple markets. In July the company predicted that its markets share would be about the same as the second quarter's 40%.
Still, Nokia expects a 10% growth in handset volume for the full year, up from last years 1.14 billion.
NOK shares ended the session -7.58% to $20.62.
From the Bull Pen: Bulls can look to Research In Motion (RIMM). Did the stock successfully test its July low (near $101)? Sell stops can be set below that level on upside tries.
From the Bear Cave: Google (GOOG) has broken significant support, but shares could rally within the next week. Bears wishing to play the downside might consider fading (read: sell) a move towards $475 which would mark a 50% retracement from the August high.
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