I’m wearing a turtleneck today. It’s not even really cold I just wanted to wear it because it feels official and sophisticated. I looked up the history of the turtleneck this morning too. Essentially wearing one is an intellectual fashion statement. I own a lot of turtlenecks for the record.
While I wouldn’t necessarily say things are looking a lot better on Wall Street, there has been less news to cry about. A late rally Monday brought the DOW up almost 400 points. Today investors have pulled back as numerous quarterly earnings are released. On PredictWallStreet.com, sentiment for the DJIA is extremely bearish, while the SP500 remains bearish as well. Sentiment for NASDAQ has become slightly bullish. Community Sentiment on the site also reports that 71.7% of predictors think the market will go up. What do you think the markets will do?
Yahoo! (YHOO) is expected to release Q3 earnings today and is also forecasted on PredictWallStreet to close up! There has been a lot of rumors lately circulating about a deal between Google and Yahoo! but so far it has only been hearsay. I’m curious to see what will be said in the conference today. Yahoo is planning on cutting thousands of jobs but some analysts say that wont be enough to help YHOO price, the lowest its been in five years. Sentiment is becoming more bullish but perhaps will drop after today’s earnings results. I have predicted down for YHOO. At this point I feel they have lost so much confidence in the company that even new management might not do the trick.
Citigroup (C) and Morgan Stanley (MS) are both forecasted to close down today. Sentiment for both banks is surprisingly strong, both becoming more bullish. I would assume that after all the bailouts and stimulus packages and injections of cash people have had there faith minimally restored although its going to be awhile before we see any sort of larger changes. There are about 140 predictions on C this morning and 61% of those people feel it will close up. I’ll have to check back tomorrow to see if the masses were right or the forecast was.
AT&T (T) is forecasted to close up today, one of the only two forecasted to close up besides YHOO. Surely iPhone sales have done AT&T good this last year and I’m not gonna lie, I’ve considered switching over to them but ya know, I cant really argue when my mom is paying the bill. Anyhoo, sentiment for T (by far the weirdest ticker symbol p.s.) appears pretty bearish right now and the price has been fluctuating quite a lot this morning but T seems to be pretty moody the past month (1 month sentiment chart) so these could just be temporary glitches. I predict up up and away for T.
It’s starting to get warm. I gotta switch shirts.
Stumble It!
