Good night, we're seeing red today.
Well, mostly red. There were a few stocks that held their own despite a 311-point shaving of the Dow Jones (-2.2%) and 48-point slice out of the Nasdaq (-1.8%).
CROX obviously stomped all over shorts (32% of the float) and bears with gigantic earnings report. The stock closed at $49.25 yesterday and has soared as high as $59.25 in today's extended hours. Currently at $58.20.
AAPL pared back a bit from yesterday's after-hours trading, but is still up for the day more than 6% at $146.05 in extended hours. Is Apple a buy here? It's a tantilizing question for longs who want more and sideliners waiting for a pullback. No question there are still doubters regarding the iPhone and it's first-generation flaws. Just how many iPhones will sell in Q3 is an issue that may be made moot if Mac sales continue to shock.
BIDU is down to $207.11 in after-market trading after closing the regular session with a 14% gain to $209.06. Of course, the stock isn't quite where it was in yesterday's extended hours ($220), but it's still a mammoth move from a low of $175 earlier in the week.
NTDOY.PK continues to mirror the movement of the Co's stock in Tokyo. For a second day in a row, shares leaped higher after astronomical growth numbers were released by Nintendo yesterday morning. NTDOY.PK closed today at $62 even (up 2.6%), another all-time high. If the Co can truly increase production of its Wii, the stock could go to infinity and beyond.
Some other winners today were: Focus Media, up 1.1% to $41.64; Potash, up 1.4% to $78.37; International Exchange, up 1.8% to $146.34.
It's good to see some of my A- and B+ picks stay green today, but what matters more is which of those that went red are pulling back to more buyable levels.
Pupule Paul is a bit long AAPL, BIDU, CROX, FMCN and NTDOY.PK.
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