I didn’t eat as much candy as I wanted to this weekend. Nonetheless, Halloween was exciting sans the part where I lost my voice and wasn’t able to yell at my friends anymore. I tried to keep track of how many Joker costumes I saw but lost track after the first six.
We’re starting November on a cautious note but at least were ending one of the worst months in market history. The market’s fluctuated this morning on a weak manufacturing reading Sentiment for the three major indices is rather bullish. PredictWallStreet’s front page sentiment meter shows the NASDAQ, DJIA, and SP500 are bullish.
I just checked my accuracy rating and its up to 51.30%! I’ve been primarily predicting on the published forecasts which has ultimately increased my accuracy because they are more accurate. The forecasts have really become valuable tools in my predicting strategy and are helping me discover new securities and learn about there patterns. So today, PredictWallStreet has 16 forecasts. Of those, they’re are usually a few companies I know of and few that I have no clue about. I like to stick to the ones I’ve at least heard of or know what their business is and check those ones out and make my prediction. Today, I’ve picked about six companies to predict on, and I’ll highlight three of them here.
Everybody loves Google (GOOG). Well, maybe not people working at Yahoo! but the majority of people do. They are forecasted to close up today. Google and Yahoo! are anxiously waiting a decision from the Department of Justice investigating there search advertising alliance which opponents say will severely hurt competition. Checking one month sentiment, I can see sentiment is pretty neutral but heading into bull territory. They have experienced a few points of bearish sentiment in the past month. I would believe that if the DOJ approves this alliance, sentiment will become more bullish as the internet giant infiltrates even more of the internet.
Did you know if you vote tomorrow you can get a free coffee at Starbucks? Pretty cool actually. Starbucks (SBUX) is forecasted to close down today. With less pocket change, its hard to justify buying that venti in the morning when you can make it at home for practically 20 cents. Starbucks has not only lost a few of its regular coffee addicts, they’ve also closed numerous locations. In an economic downturn, it only seems obvious luxury coffee concoctions would be the first to go. Sentiment is surprisingly right under the bullish zone. There price has dropped this morning 4%. Maybe those pretty red holiday cups will entice some new customers this November and December.
Wal-Mart (WMT) has been in the spotlight lately for providing consumers discount retail in tough times. Today they are forecasted to close down however. With several reports stating holiday spending will be down and consumer sentiment at all time lows, mainstream retail stores may be hit hard this holiday season-a time most of them count on for pops in revenue. But Wal-Mart, and stores like Target, are supposed to not feel the weakening spending as badly, but this remains to be seen. Wal-Mart is actually up right now but I’m still predicting down because I like to be consistent in following the forecasts. Because sentiment appears to be falling for WMT, I think the forecast may be correct.
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