With the anniversary of Black Tuesday a few days away, investors can’t help but be nervous of the axiom “history repeats itself.” Stocks fluctuate this morning as investors try to figure out the direction of rate cuts, a global economic recession and the government now buying stakes in nine major banks in an attempt to prop up the banking sector. With so many uncertain expectations, its hard to discern a clear direction, however. PredictWallStreet’s sentiment meter for the NASDAQ, DJIA, and SP500 is clearly bearish right now, reflecting such investor doubt.
Google (GOOG) is forecasted to close up today, according to PredictWallStreet. Sentiment for GOOG has been rather bearish this month but appears to be gaining some momentum. Several analysts believe tech shares are trading at major discounts and I agree. I think the best way to monetize the internet right now is through search and GOOG has clearly optimized this chance. In my opinion, I think GOOG is selling at a deal right now and in the long run would be a good investment despite any volatility its experiencing right now. But hey, what securities aren’t experiencing that?
AT&T (T) is also forecasted to close up today. AT&T recently reported revenues that met expectations; a good percentage of this propped by iPhone sales, despite what a lot of people think regarding distribution rights. I think AT&T has positioned itself for growth and will continue to grab new customers with there 3G network and smartphones. Without getting too obsessed with the current emotion regarding the general market, AT&T is looking to be a sound company with good cash flow despite everything else.
And a company I used to really like but took a turn for the worst, First Solar Inc. (FSLR) is forecasted to close up today. I bought this company (in a online simulation of course) when the alternative energy companies were all a buzz and gaining lots of momentum to shortly crash hard weeks later. Now its not that I don’t think these companies are still great, because I do, its just I jumped on bandwagon that I should of recognized was a typical investor folly. While I believe the company has room to grow, it may be hard to do so in our given environment. Nevertheless, if you can manage to get this company at good price, perhaps it will fare well when “recession” isn’t such a buzz word. Sentiment for FSLR is a little bumpy, but seems to be general becoming stronger. So basically, if you’re a young investor and have lots of time to spare. In this case, time is indeed on your side.
Make sure you check out all the forecasts for today; they’re are a ton and there all showing green!
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