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Bringin' It Home: Microsoft, Lowe's, EMC

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A broad pull-back seems entirely overdue, and the bears had a good case made for them with the data, yet, here we are.

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The following thoughts were published earlier today on the Buzz & Banter and are reprinted here for the benefit of the Minyanville community at large.


Quick Takes - 11:08 AM

  • The Dow is hanging in surprisingly well today, from where I'm sitting. A broad pull-back seems entirely overdue, and the bears had a good case made for them with the data, yet, here we are. Draw from it what you will but, from where I'm sitting, it's still a tough tape to fight on the short side.

  • Getting a lot of emails regarding Target (TGT) and Lowe's (LOW), as you might imagine. After a night to mull it, my take is the same as it was last night on Fast Money. To paraphrase for those who watched Monday Night Football or War instead: "Target coming in light certainly isn't a good sign but it's a hardly an entire 'short the consumer' thesis by itself any more than Target's strong quarter meant it was going to be a great Christmas."

  • As for Lowe's... raise your hand if you felt like the housing market had bottomed.

  • On an entirely different point, I sold half my EMC (EMC) into yesterday's rally. Still love the name but with the Street finally getting onboard with the stock it seemed time to lock in some gains. Why did I sell half and not all? Pretty much so a scenario like EMC being up again today wouldn't make me crazy.


The Consumer - 11:55 AM

  • Watching Howard Davidowitz on TV is just the best. You may not like his message ("the consumer is dead, dead, dead") but you have to enjoy his enthusiasm. For what it's worth, I also respect his work and his "take"; even if I don't think it's as bad as all that.

  • Microsoft (MSFT) was very busy yesterday, in all the best ways. The truth is, I don't think it's possible for a company with its resources to over-pay for a stake in Facebook. It's a move that blocks Yahoo (YHOO) and gets it in the ring on social networking. The ring beyond geekdom and Halo, that is.

  • I've gotten a couple notes (one via snail-mail and a few emails just this morning) expressing real pain regarding the consumer economy. These aren't traders and they don't have a particular ax. Just real folks feeling real pain. It's very much worth noting.

  • Very, very fired up for Oliver Stone on Fast Money tonight. To make it clear, not as excited as Guy (who has been wearing his giddy pants all week) but excited, nonetheless.

  • Check the action on Dish (DISH) today. Two stories there: one (and most obviously) the break-up. Second is the acquisition of Slingbox, a device that allows you to take your cable with you. I regard the second item as more interesting, from both a consumer and an investment perspective.
Position in EMC.

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