What more can I write other than it sucks right now. The Dow Jones took a 519-point cut over the past two sessions. Nasdaq is down 75 points during that time. Fortunately, stock pickers may have fared a little better. Maybe a lot better.
CROX pared back from extended-hour highs but still finished up 9.5% to $55.41 one day after a blowout earnings report. With revised, higher 2007 guidance from CEO Ron Snyder, chances are increased that institutional buying will be on the way sooner than later. If the big boys don't join the Crocs party, it's just as well. Retail investors can get more shares at a relative bargain.
GOOG showed some mettle and bounced up from its mid-day low of $505. Shares of Google finished at $511.89 today. If the spending, i.e. hiring thousands of new employees, is over or slowing down, what will stop the Co from humongous net profits for Q3? There may be time to get GOOG cheap, but it won't last forever, not with the Co's aggressive hiring stance in China.
NTDOY.PK finally took a pit stop after wild surge up in recent days. Nintendo's pink sheets in the U.S. traded down a buck as anticipated, given the stock's pullback on the Tokyo Stock Exchange. NTDOY.PK closed today at $61. A breather here is healthy for the stock and, perhaps, another entry point for longs. Sales of the Wii continue to scorch competitors Sony and Microsoft. Leave it to the Concise One, Howard Lindzon, to put it best. Or rather, his pal Fly, who warns that trouble in the financials will continue to spill over and make a mess in the rest of the market.
I'll go shopping for that steel protective cup this weekend.
Pupule Paul is a skoshi long CROX and NTDOY.PK.
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