I thought my narcissistic tendencies would lend me some help in producing a video blog but it turns out they have been of little assistance. I spent last Thursday working on the video blog that will hopefully be up in the next few weeks. After shutting myself in a room and filming the same 30 second clip about 20 times, things have progressed minimally. Practice makes perfect!
The market is bleeding today. Yahoo! Finance reports that 91% of stocks within the S&P 500 are in negative territory today. Sorta makes you want to take that money and hide it under your mattress after all.
This Yahoo! ad was placed in the Giants Stadium. The 404 marker to the right actually stands for feet from the home plate. I tried to crack a joke about checking Yahoo!’s stock price and receiving the error page, but the pun is just too obvious here.
Cramer has continued his Sirius XM Satellite (SIRI) bashing rampage, driving the stock down to a measly 1.35 today. There are different perspectives to this story, mostly involving Cramer as a Goldman Sach’s pawn. Irregardless, the stock has plummeted. I’m actually a little sad about this, as I’m sure other SIRI supporters are as well. For those of us who have been rooting for this stock since the merger, its disappointing to see it down every morning with little let up. PredictWallStreet.com shows that sentiment has been mainly in the DOWN position for the month of August even though the majority of todays predictors have predicted UP. Even glancing at the one month sentiment graph, you can discern a bearish trend that I don’t see easing up anytime soon, especially with Cramer on the loose. Like Sirius’ CEO Mel said, once the convertible issue is cleared up, then can the company progress.
Sticking to my aforementioned goal, I checked out LDK Solar Co., Ltd., a company which manufactures solar wafers in the People’s Republic of China. Another alternative energy stock that is on the rise and one of the few stocks today that is NOT in the red. This morning, LDK projected 2009 revenue above Wall Street estimates at $2.8 billion and $3 billion. LDK has expanded its wafer production capacity ahead of schedule and is thus confident in these projections. Clean energy sector stocks have been the buzz lately, as oil prices rise and going green has become more of a conscious life strategy than a celebrity trend. Sentiment at PredictWallStreet.com for LDK is relatively neutral, but with the gains this sector is experiencing I would expect people to become more confident in these companies. As with any popular stock, there is the chance of too many people jumping on the bandwagon, so timing could be everything here.
Here is a link to my page at PredictWallStreet.com. You can check out what predictions I have made and my accuracy rating.
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