Reading List 7/28
Trader Mike urges caution… Don’t chase the market down at this point. Initiating shorts here involves much risk.
In the Money notes a rise in the Yen which could be adding to negative sentiment in US markets. I have yet to hear anyone mentioning this.
Notable Calls mentions NTRI’s dissapointing action and CSFB’s report which came to the stocks defense. My short position in NTRI was one of the bright spots this week.
Bill Rempel is calling for at least a short-term bottom. While I don’t necessarily disagree with him, I would say “keep those stops in.”
Does the new “no downtick” rule cause selloff’s to be more fierce? Adam doesn’t think so.
Controlled Greed’s comments after the March selloff remind us to be patient for the long haul… They’re just as pertinent now. Plus I love the title! “Everybody Wants To Go To Heaven, But Nobody Wants To Die”
Hope you survived the week well and are employing damage control.
damage control? i want to know how much Chipotles “a” has room to bounce, if $77.50 lows for Thursday is the multiday low point. Crocs had some good numbers on thursday. the company is estimating sales of 48.36 million pairs of shoes in 2007 on $16.75 asp. 2008 forcasts immediately ratcheted to 70+ million pairs and investment price goals advanced to $71 @ 2 houses. is that possible?
July 30th, 2007 at 1:24 amgreat job holding CROX. Its wonderful to hold onto winners like that. Anything is possible, but nothing goes up forever. Many of these growth names, however, go up much longer than most people think is possible.
July 30th, 2007 at 1:58 amCHIPOTLE bounce expands 77.50 > 88.50 +$11 +14%. the rebound is rich and i would take profits. SunPower- STP traded down to $39.03, the dip is a wonderful $4.50.
July 30th, 2007 at 10:46 pmi would pull trigger on long positions on premise dip has run its course and now is time to position for the bounce. if fundamentals warrent.
would you put down some focus on SINA and tell me whats your conclusion. the overall Chinese online ad market is $505 million and growing 50% a year. BAIDU and SINA are the 2 cleanest cut leaders. BAIDU is the search enginee leader and SINA the branded display leader. SINA has a comprehensive developement deal with Google signed June 2007, which is giving it an extra boster shot, and lowering risk. the sina dip is $6 down from $47 but Pacific Crest just declared a $54 goal.
July 30th, 2007 at 11:09 pmI’ll try to dig up what I can on SINA… Was hoping you were taking advantage of this CMG move today. I wish volume had picked up a bit. I re-hedged my position with Aug 90’s again as the premium was very attractive.
July 31st, 2007 at 12:13 amchipoltes good you hedged. i sold the entire 24,000 stake for about 85.99 on the way up. the cost on the block was about $80.50+ thanks to 10,000 averaged in at a cost of 78-ish. the entire restuarant group is in the dumps and sentiment is poor and suspicious. expanding dips that havent found a low point are mcdonalds, darden, california pizza kitchen, ruth chris steak house, and cheesecake factory. i just dont see the market getting that excited over alredy high expectations Chipotle earnings. i could be wrong, but if you have a big CMG 2 day bounce gain, better nail it, then be coulda woulda shoulda sorry.
July 31st, 2007 at 1:03 amsome of your Value CLick work should be a recycleable template for your sina analysis.
July 31st, 2007 at 1:47 am