USA aktsiaturud on avanemas miinuses, futuurid on suuremast miinusest üle saanud. Suurimaks negatiivseks üllatajaks oli Coca Cola (KO), mis andis kasumihoiatuse.
Naftaministrite kokkutulekul Viinis on taas üleval küsimus naftatoodangu suurendamisel. Sellel aastal on nafta tarbimine suurenenud üle 3%, mis on viimase 25 aasta kõrgeim näitaja.
Oracle (ORCL) kvartalitulemused olid kasumi osas oodatust paremad, lisaks on firma järgmise kvartali prognooside täitmise osas positiivselt meelestatud. Aktsia kerkis eilsel järelturul 10.9 dollarini.
Coca Cola (KO) teatas, et teise poolaasta majandustulemused jäävad oodatule alla ning peamine põhjus on nõrgem müük Põhja-Ameerikas ja Saksamaal. Aktsia on eelturul langenud üle 3 protsendi.
Rev Shark:
Only the most foolish investor fails to recognize the potential for surprises to occur in the stock market. Most everyone prepares for it in some way, but typically the strategy is uncreative and ineffective, such as adopting a long-term holding period or being highly diversified.
What separates the great investor from the mediocre one is the ability to capitalize aggressively on surprise when it occurs. The ability to move quickly and decisively when a sudden shift occurs is what produces outsized profits.
Those who quickly embraced the bounce that started in mid-August have profited handsomely, but now there are a number of warnings signs that tell us that we should start thinking about the potential for a surprise to the downside.
The biggest problem for the indices is that the recent bounce has taken us to areas of overhead resistance on the charts. The S&P 500, for example, is right at the downtrend line that commenced in March and the NDX is bumping its head on the 200-day simple moving average.
The biggest problem is that the last part of the market advance over the past week or so is primarily a product of an oversold bounce in the semiconductor sector. The news has not suddenly improved in the sector; sentiment simply became so negative and the momentum shorts so confident that there was no selling pressure left when the news wasn't dramatically worse than expected. As Xilinx (XNLX:Nasdaq) demonstrated last night with it poor guidance, there are still inventory and demand problem in the sector.
The question for the market is whether it can continue to rally on this rather flimsy foundation. Is there sufficient buying interest to keep this move going? Are the bulls content that the worst is over as we enter the seasonally weakest period of the year?
One worrisome sign yesterday was that even though the market was mostly flat, it appeared that there were big buyers chasing high-beta stocks, especially in the Internet sector. Some of the big movers included EBAY, NTES, SINA, AMZN, YHOO, GOOG, INSP and AKAM. The action had the aroma of funds trying to play catch-up after missing much of the recent move. That sort of desperation is a warning sign that bullishness is becoming too pervasive.
We are setting up for a weak open this morning. The Xilinx warning is putting some pressure on technology stocks and a warning from Coca-Cola (KO:NYSE) is casting a pall. Overseas markets were mixed with technology lagging and financials showing relative strength. We have a couple of economic reports due out today but nothing major.
The market is looking tired this morning. It may just be taking a rest, but it won't take much for a pullback to gain a little steam. Be ready for a surprise.
