GPRO

Gen-Probe Incorporated (GPRO) had been chugging right along through the messy correction lately. It has a 5+% short interest and Q2 earnings are released today Aug.1st after hours which could be the straw that breaks the camel's 20-day EMA based on how investors have been treating favorable and unfavorable earnings reports alike.
inserts via investors.com & StockScouter

What Correction?

Plenty of hurt goin' around. But there are some stocks out there that aren't even aware of the sell-off going on around them. Case in point - Ceragon Networks Ltd. (CRNT). Since it broke out of it's base (April 30th) the stock has appreciated 83% and corrected no more than 9% (June 6 -13 8.8% correction). Currently CRNT has a 1.9% short interest.





































inserts from investors.com & StockScouter

Ouch!

Another late afternoon sell-off puttin' some hurt on. Not sure how many people were really too surprised by the selling though, it kind of felt like traders were on guard and ready to take short positions. There were plenty of good short set-ups around if you could get the fill on 'em. Apple gettin' a beat-down before closing down over $9, ouch! DJIA down over 1%, the DJ Utilities, however, up 0.2%. Nasdaq down over 1.4%, and the S&P500 down over 1.2%. Ouch.

AAPL & FWLT shorts

Bounce, or Head-Fake?

Some stocks that met with (or rebounded off of) their 50-day EMA's post-correction:
FDRY
CDWC
MHS
ABB
ABN
HPQ
GLDN
ALTR
COP

Some stocks that met with (or rebounded off of) their 100-day EMA's post-correction:
TXN
VRSN
CMTL
BK
HOC
ICE
EMR

Some stocks that met with (or rebounded off of) their 200-day EMA's post-correction:
MICC
GLW
NTRS
CTSH
AXP
TSO
HBC
BMY
BAX
VLO
MM

To Buy or Not to Buy

After the end-of-week sell off we're all left with a tough decision as to whether or not we're going to buy into some dips, find strong performers, or start selling whatever we can. I'm including some charts of companies that have either fared well in the sell off, or have sold off so much they could present good buying opportunities.
FSLR
CROX - Who'd-a thunk it?AA - looking for support from it's 200EMA.
However, on a longer time frame we could see a continued downside:
GS- Goldman Sachs couldn't get no lovin'. $189 looks like a good area of support.

GS on the weekly time frame:
AKS has fared well:

Weekends with Wine

It's been a while since I've posted anything about the wine I'm drinking (my last post featuring the Prisoner wine). So, this weekends feature is the Monticelli Brothers and their 2005 Mario Sangiovese from the Russian River Valley. It should go without saying that if I'm posting about it then I love drinking it. If you're not familiar with a Sangiovese varietal, take this bottle with you to your favorite Italian restaurant and thank me later. Sangiovese has its roots in Tuscany and is the backbone of most Chianti wines (which are upwards of 90% Sangiovese, and rounded off with lesser known blending vareitals). It's not clear from the label what the percentage is of Sangiovese fruit, but next time I run into the winemakers I'll find out and update this posting. The first thing that jumps out at you is the distinctly California fruit bouquet (think spicy strawberry), that's cut with a fair edge of vanilla oak. It has a light and crisp body with a little bit of acidity that makes it work so well with pasta dishes, tomato sauces, pizzas. It's not as earthy as a lot of Chianti's can be, which I typically prefer, and the oak seems to lend a sweetness to the wine rather than a tar element. The best part of the experience is this bottle retails for $28. One footnote here; I drank my wine in crystal wine glasses, which can completely transform a wine. Don't believe me? Try it out for yourself. *salut!*

macAddict

For all of the macAddicts out there, here's a leaked prototype of a new keyboard from apple. We'll probably see it in time for next year's Macworld expo. They are the leaders in stylish tech.

When the Sh*t Goes Down...

...ya better start shortin'. We're lookin' for a bounce up tomorrow after today's selling frenzy/capitulation. The Dow was in the toilet, losing over 300 points today and the talking heads are in full spin mode to figure out why.









The Russell2000 is hurtin'.

Joining the Train...

Spurred on by the WallStreetFighter, and being that I'm in need of some link lovin', I'm keeping the train movin':

———-START COPYING HERE ———-

Geek Train - All aboard!

1 - Write a short paragraph at the beginning of your post and linkback to the blog(s) that put you on the list in the paragraph. You MUST do this. No-one plans on getting slapped for duplicate content any time soon, do they?

2 - Next, copy the list of originals below COMPLETELY and add it to your own blog. If you’d like a different keyword for your blog then change it, when you do your post, and it should pass to most blogs with that keyword, provided the train keeps on spreading.

3 - Take the adds from the blog that added you and place them in the “Originals” list.

4 - Add at least three new favourite blogs of yours to keep the train going, e-mail the blog owners (or comment on one of their posts) and insist that they post. The Originals:

(The satirical saint) Craig Kohler
(The kick-ass) Nate Whitehill
(The original) WallStreetFighter
(The crafty two at) TechRave
(The AdSense ‘dude’) Michael Cheney
(The overclocker) Shawn Knight
(The incredible) Chris Hooley
(The rhetorical) Michael Kwan
(The talented) Leo Chiang
(The root of all evil) John Chow
(The business dude) Josh Mullineaux
(The absurdly loud) Ed Lau
(The mastermind) Jon Waraas
(The yaketty) Stephen Fung
(The wickedly cool) Everton Blair
(The uber blogger) Ms Danielle
(The enterprising) Matt Coddington
(The career minded) Jane May
(The legendary) Gary Lee
(The nifty) Dosh Dosh
(The ambitious) Jeff Kee
(The Down Low) Shawn Low
(The reviewer) Thomas De Maesschalk
(The Post Whore) Derrich
(The Bitchy Mogul) Bob Buskirk
(The Anti-Social) Matt Propst
(The Hawk) Gregg Hawkins
(The Carpenter) HMTKSteve
(The Artist) Web Urbanist
(The Popularity Booster) Romlet
(The Funny Money Linkster) WallStreetFighter
(The Oldschool Blogger) Disassociated
(The life Coach) Agent Sully
(The Thinker) Ilker Yoldas
(Baby steps to big money)Fufunik
(The Sexy Swing Trader) Trading Goddess
(The Rajun Cajun) MadStocks

My adds:
(The Forex Trader) Grace Cheng
(The Short Squeezer) Squeeze Shorts
(The Prehistoric Trader) Dinosaur Trader
(The Glass Artist) Calyxann
If I missed anyone leave a comment and I'll add you. Thanks all!

BIDU

Baidu.com (BIDU) had a buying frenzy later in the afternoon today, closing up over $8. Going into after-hours and reporting earnings it's up a whopping $34+, or 19%.
"Net income rose to 141.9 million yuan ($18.8 million)...from 58.5 million yuan, or 1.69 yuan, a year earlier, the company said today in a statement. Sales more than doubled to 401.3 million yuan, beating analysts' estimates. Baidu expanded its market share in China, where it leads closest rival Google Inc. by more than 2 to 1."
" China was home to 162 million Web users at the end of June, second only to the U.S., according to data from the China Network Information Center." --That's only 1% of the population!!! Compared to nearly 70% of the population in the United States (232+million) are internet users. Lot's of potential for Baidu as the internet using population grows in China. If 70% of the population in China were using the internet that would be over 1 billion users!!

AAPL

After being up over $2 in the regular session today Apple (AAPL) shares are up over 9%, or $12+, after reporting earnings.
"Apple Inc.'s fiscal third-quarter profit soared more than 73 percent, fueled by demand for its Macintosh computers, the strength of its iPod media players and the sales of 270,000 iPhones in the first two days on the market...For the quarter ended June 30, Apple's profit rose to $818 million, or 92 cents per share, up from $472 million, or 54 cents a share in the year-ago quarter. Sales grew to $5.41 billion from $4.37 billion last year. Analysts polled by Thomson Financial expected Apple to report earnings of 72 cents per share on sales of $5.28 billion while Apple itself had projected earnings of 66 cents per share on quarterly sales of $5.1 billion."
After reading this post today at TickerSense I wasn't suspecting such a drastic leap in price (maybe that's just the reason I should have gone long overnight). Even though the information posted is certainly worth considering in making a play on Apple overnight through an earnings report, the stock/company is not the same it was from a year or two ago. They are making the products everyone loves and wants (how many people do you know own a Zune?). From my own experience, if I were to get another computer I would definitely get another macbook pro like the one I have now. I mean come on, two operating systems on one laptop, you just can't beat it. And I think people are finally coming around to realizing that. We won't even go into the iPod/iPhone/iTV products. Apple is large and in charge, demanding the respect it's had coming.

INTC

Intel Corp. (INTC) continues to evolve technological development. "The company said it has fabricated the first modulator made from silicon that can encode data onto a beam of light at a rate of 40 billion bits per second, or gigabits. Modulators are key components in using lasers to send data down fiber-optic cable...Such speeds -- roughly 40 times faster than the most sophisticated corporate data networks -- now require expensive materials, a factor that helps push the cost of existing 40-gigabit modulators into the thousands of dollars. Intel, which boasts the biggest revenue among companies that make silicon chips, wants to use that material to create much less-expensive communication components, an effort it calls "silicon photonics."
The Singularity is Near!

NTRI

After hours today was good news for NTRI. They reported Q2 earnings above expectations at 96 cents/share vs. analysts forecasting 85 cents/share, resulting in a nearly 3% increase in their stock price. THEN, before you know it, they're down nearly 15% with the company stating "it expects to make 77 cents to 82 cents a share for the third quarter on revenue of $200 million to $208 million. Analysts were looking for an 89-cent profit on sales of $209 million." It hurts to hold that one overnight.
NTRI's customer base is (literally) growing. FYI...66% of Americans are overweight. That's nearly 200 million people!! Not only that, but it's projected that by 2015 (a mere 7.5 years) a full 75% will be overweight. That's insane!!

More Selling

Couldn't catch a break today. Felt like a lot of selling pressure on the breaks I was watching. Time to double my dosage of St. John's Wort so as not to slip into a depression for my failed trades.
Big time hurt-down put on the Energy sector. Big time sell-off in the DJIA end-of-day on high volume, but it found relative support at the 20EMA.The Russell2000 was fed a plate of whoop-ass today; falling through its trendline and not quite down to the 200EMA.
S&P500 dipped just below its trendline. Looking for a bounce back above the 50EMA tomorrow, or else...b-bye.As for the Nasdaq; more selling, bringing the index down to the lower range of it's channel still above it's 50EMA. The selling could have been a lot worse for sure.

For a positive outcome for the indexes, end-of-day today was a difficult time for me to find set-ups. Those I was watching turned into nothing. I'd be more discouraged if not for reading the blogosphere and hearing similar impressions.

TNH

TNH has been having some more controlled moves lately. The increased volume on the breaks of the formed bases provided a good shorting opportunity.

Gold Stocks

To follow up the previous post, I'm reading an interesting article about the "Secular Gold Bull Market."
An excerpt of interest from the post being: "While the spot price of gold has yet to reach the swing high in April 2007, the Philadelphia Gold BUGS Index (HUI) has just surpassed it. If this sort of disconnect continues, either the price of gold has to run up to catch up, or the gold stocks will fall to realign with the commodity."

Gold Stocks: MDG, NEM, CDE, GG, GSC, GSS, RGLD

Loonie

Go Loonie!!

Apple @ $205?

Analyst Gene Munster of Piper Jaffray pegs Apple stock at $205/share. I don't see why not.