I had GE a while back and then they cut the deal for Buffett money. Right after that, they offered more stock at a lower price than the previous close. I dumped it ASAP because I didn't believe any news that came from GE about how they were handling their <i>situation</i>. It might be a buy at this price for somebody, but not for me.
Crap... that swing that just happened in the DOW was insane. I think it went down 150+ to up 11 or so in a matter of a few minutes.
in this market, aapl could go to 20 tomorrow and it would barely be surprising, but didn't people just blow 7 million iPhone's worth of cash just last quarter? a company with $28 cash/share with earnings of $5.36/share and 25-30% year over year earnings growth is supposed to be trading at 45, essentially a 3 P/E once you take out the cash? obviously the 4th quarter isn't going to be good for anybody, but if they could grow earnings 25% in the 3rd quarter, which certainly wasn't a good quarter for most companies, aren't we talking about a company that is weathering this far better than most? shouldn't what the market is realizing be that AAPL is still making gobs of money and not just speculating that people won't buy their goods even in light of evidence that they actually are? it's as if no matter how much good news AAPL gives the market, the market always thinks the next bit of news will be bad.
Down 3+% already today I guess it is time for my next limit order @ $36. Time to double down!!! The 52 week high for VTI (VANGUARD TOTAL STK MKT ETF) was $75.78. It is now selling at about 51% (38.62/75.78) of its 52 week high. From that peak to this trough for the last year, the US stock market has lost about half of its value. That is just bat sh** crazy, especially since the stock market was not particularly in a boom to start with. The late 90s were a once in a lifetime boom. Now appears to be a once in a lifetime bust (that is unless you were investing in the mid 70s).
MSFT is up 1%. i didn't realize it was still allowed to go up. and FSLR is so cheap now that it's P/E actually looks normal. not brave enough to buy it though.
I told you guys about the 775 retracement level on the SPX. That's exactly where the bounce happened. Now I wonder if it will hold ...
JeopardE Since you know <i>Slope of Hope</i> much better than most..............is that place always so busy? Does <i>Hiker</i> know his stuff?
That blog is very, very busy ... but I don't pay too much attention to most of the posters, just TK himself. The one guy I've noticed who seems to command a lot of respect there is moo.
Meh ... everyone on Slope is congratulating some 2sweets guy for calling the 776 retracement level. It's too easy people -- 50% retracement from the top! The day trading disease ... can't see the forest for the trees. Meanwhile, we seem to be stuck in this spot ... looks like the bulls are still shy. Nothing more than a dead cat bounce so far.
Yeah...horrible head and shoulders formation on the SPX, but I'm still hoping for a late rally. If one happens I'll be looking to go long into tomorrow. Otherwise, more pain.
