I’ve been stressing so hard over midterms, particularly my security markets midterm, that my immune system forgot to do its job and now I’ve caught the college kid cold that’s been going around since the beginning of this week. Go to any campus library during midterms and you are sure to find tables filled with Kleenex and Airbourne. It’s not really surprising I’m sick-I live with three girls who share everything from drinking glasses to mascara. But normally I pride myself on my super immune system and smirk while my friends are gargling salt water. But not this time, ohhhh no. Between the stress, my car getting broken into, work, homework, my antibodies just couldn’t keep up. Could be worse. I mean Halloween could be on a Monday. How excited are you for tomorrow? I can’t wait.
The stock market has been pretty bi-polar this week. Up and down, up and down. We could call it a roller coaster of love, but I think this is the kinda ride that makes more people want to puke than anything. Stocks are up this morning after a GDP reports showed that consumers contracted less than expected last quarter and investors are feeling more upbeat after the Fed decided to cut rates again.
Lot of company’s have been posting losses lately, and employee cuts. Motorola (MOT) posted over $800 million in operating losses, American Express is cutting 7000 jobs..and the list goes on. Outlook is dismal to say the least.
Where the outlook is less disamal is at PredictWallStreet! They have five forecasts today and four of them are forecasted to close up. I don’t know what Chesapeake Energy Corp. (CHK) or Corning, Inc. (GLW) does so I wont pretend I do but they are forecasted to close down and up, respectively.
Pfizer (PFE) is forecasted to close up today. I don’t know much about this company other than that they develop prescription medicine and that even in time’s of a recession, there is one thing people can’t afford to not buy and that is there medicine. It’s not just something you can really skimp on when money is tight. Sentiment for PFE is pretty neutral, although it does look like it could be becoming more bullish soon. They company currently has $26 million in cash flows, something most advisers are telling investors to look to first when picking companies in times like these, and there dividend yield is 7.7%. Treasury bonds are only 2.7%.
Visa (V) is also forecasted to close up today. Visa was expected to report Q3 earnings Wednesday and the outlook was optimistic. Visa is currently teaming up with Google and Nokia, and they beat there expected earnings by two cents. Sentiment for Visa has been pretty bearish and if you overlay the quote, you can see the price has been closely following. It seems as if now that V is ticking up, sentiment is starting to become a little more bullish too, not surprisingly.
Exxon Mobile (XOM) posted its biggest profit ever of $14.83 billion so naturally they are forecasted to close up today. Exxon has been feeling the benefit of the record prices of crude oil lately. Sentiment for XOM is actually pretty bearish even though the price is high. I suspect sentiment will move up shortly.
Word to the wise, I have been predicting on anything that has been forecasted and have really seen my accuracy rating go up. Just last week I was under 50% accuracy and now I’m at 52%. Not only does this excite me because I’m on my way to being a four star predictor, but more importantly it just goes to show you the accuracy of the forecasts. They have been consistently correct in there up down forecasts. This is valuable information that I could actually be trading on it because it’s that correct. There have been only several forecasts that were wrong out of hundreds. So by using the forecasts, you can actually predict the market!
Hope everyone has a great Halloween and stays safe!
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