Everything is getting thrown out the door. Beating estimates isn't enough.
The deal is this.
There are a lot of peeps under water, and some are just selling anything with gains to raise cash.
"Usually," when the strong stocks start getting thrown in the shitter, the "near-term" selling is reaching its end.
I'm not sure this is the case today, though.
Hell, we could see all the averages go to zero point zero, I guess. But that's how a bear market is........VICIOUS EXTREMES......but usually just a slow grind down over time.
The broad market could get a short covering rally at any second, but the truth is that is has no economic legs.......so it'd be called a "sucker's rally."
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Stifler-
Everything is getting thrown out the door. Beating estimates isn't enough.
The deal is this.
There are a lot of peeps under water, and some are just selling anything with gains to raise cash.
"Usually," when the strong stocks start getting thrown in the shitter, the "near-term" selling is reaching its end.
I'm not sure this is the case today, though.
Hell, we could see all the averages go to zero point zero, I guess. But that's how a bear market is........VICIOUS EXTREMES......but usually just a slow grind down over time.
The broad market could get a short covering rally at any second, but the truth is that is has no economic legs.......so it'd be called a "sucker's rally."
Not to beat a dead horse but someone asked me repeatedly last year about UARM (I think that was the symbol until recently as UA) and I didnt like it at any time..much like JSDA which a few bashed me for not liking, add CROX to that mix..didnt like that one either, another still to implode is CMG..
I dont like high beta/PE consumer stocks..I consider UA, CROX, JSDA, CMG to be consumer stocks..same when Cramerica was TOOTING SHLD when they merged with Sears..didnt like it and it took some time but my thinking was right and SHLD is 100 bucks plus off the highs.
UA had and STILL has a high beta and PE for the KIND of stock it is..it didnt deserve a 40 PE ratio..who are we kidding here? I think the stock might be interesting in the low 20s, but maybe not.
High PE ratios deserve to be given to stocks who are just starting their growth phase and have the potential to exponentially increase revenues and earnings..and I just didnt see it with UA or the others listed..same goes for TASR, stock moved nicely from the lows to 15 and higher, now below 10.
When the market is contracting, expansion multiples contract as well..that to me means we arent COOKED until GOOG is below 300, BIDU below 100, ISRG below 150, FSLR to 80 or lower etc etc.
Not saying I dont own a couple speculative names, but they sure arent soda stocks or clothiers...
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Not to beat a dead horse but someone asked me repeatedly last year about UARM (I think that was the symbol until recently as UA) and I didnt like it at any time..much like JSDA which a few bashed me for not liking, add CROX to that mix..didnt like that one either, another still to implode is CMG..
I dont like high beta/PE consumer stocks..I consider UA, CROX, JSDA, CMG to be consumer stocks..same when Cramerica was TOOTING SHLD when they merged with Sears..didnt like it and it took some time but my thinking was right and SHLD is 100 bucks plus off the highs.
UA had and STILL has a high beta and PE for the KIND of stock it is..it didnt deserve a 40 PE ratio..who are we kidding here? I think the stock might be interesting in the low 20s, but maybe not.
High PE ratios deserve to be given to stocks who are just starting their growth phase and have the potential to exponentially increase revenues and earnings..and I just didnt see it with UA or the others listed..same goes for TASR, stock moved nicely from the lows to 15 and higher, now below 10.
When the market is contracting, expansion multiples contract as well..that to me means we arent COOKED until GOOG is below 300, BIDU below 100, ISRG below 150, FSLR to 80 or lower etc etc.
Not saying I dont own a couple speculative names, but they sure arent soda stocks or clothiers...
bernanke transparancy + "temporary" stimulus + election year =
Was at the local pub this afternoon with the same friend that told me about CYTR....anyway the DOW was down about 215 at 3:15 and I offered him a wager that the Dow would close down more than 300 for the day. Long story short, 20 bucks in my pocket. I did buy him a drink for his pain...LOL...I owe you a drink sometime.
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Quote Originally Posted by KOAJ:
bernanke transparancy + "temporary" stimulus + election year =
Was at the local pub this afternoon with the same friend that told me about CYTR....anyway the DOW was down about 215 at 3:15 and I offered him a wager that the Dow would close down more than 300 for the day. Long story short, 20 bucks in my pocket. I did buy him a drink for his pain...LOL...I owe you a drink sometime.
The real other deal that has always been lurking in the back is the idea that insurers themselves have no real assets...that AMBAC et al are in fact in serious trouble, and so all the stuff they insured is also therefore not really insured at all.
At least that has been the consistent drumbeat of a lot of ezines/letters I peruse.
Again, we have seen all of this type of behaviour and its consequences before. But not in areas that had as much ripple effects.This goes to the very core of the system.
With that, perhaps we should start a new thread as this one has gone up as the market has plummeted.These markets make thread go up to 100 responses quick!!!!
PS: I broke out a Monterrey Pop Festival DVD and watched Otis Redding and Janis Joplin's performance. If Otis can't get you moving you are dead and don't know it! Therefore, I am also taking CC's advice and breaking out some bud and some single barrel bourbon. CHEERS!! It really is time to enjoy life despite it all....
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The real other deal that has always been lurking in the back is the idea that insurers themselves have no real assets...that AMBAC et al are in fact in serious trouble, and so all the stuff they insured is also therefore not really insured at all.
At least that has been the consistent drumbeat of a lot of ezines/letters I peruse.
Again, we have seen all of this type of behaviour and its consequences before. But not in areas that had as much ripple effects.This goes to the very core of the system.
With that, perhaps we should start a new thread as this one has gone up as the market has plummeted.These markets make thread go up to 100 responses quick!!!!
PS: I broke out a Monterrey Pop Festival DVD and watched Otis Redding and Janis Joplin's performance. If Otis can't get you moving you are dead and don't know it! Therefore, I am also taking CC's advice and breaking out some bud and some single barrel bourbon. CHEERS!! It really is time to enjoy life despite it all....
I did buy him a drink for his pain...LOL...I owe you a drink sometime.
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