The weekend can never be long enough. I was pondering the other day about creating another day in the calendar week to make it 8 days so that there would be a day between Sunday and Monday. I realize the impossibility of this, but it was interesting to think of how everything would be so much better in my life if I just had one more day. One more day to study for midterms, one more day to do laundry, one more day to catch up on sleep… If only….
The market is going a little cuckoo this morning on reports of China’s $586 billion sitmulus package had investors a buzz only to leave them flat hours later. Circuit City recently filed for bankruptcy, revealing even our nations strongest retailers are being hurt by the economic downturn. General Motor shares have finally reached a 60 year low and the government is giving even more money to AIG. Oh joyous day! Wait, question. Tomorrow is Veteran’s day-is the market still open? This may or may not be a stupid question. Just kidding, I googled it. It’s still open.
The sentiment meter on PredictWallStreet shows sentiment for the NASDAQ, DJIA, and SP500 bullish, with sentiment extremely bullish for the DJIA. While I was checking a few of my standard securities this morning, such as APPL, YHOO, RIMM and GOOG, I noticed sentiment for them specifically was mostly bearish. Guess I need to look a little harder into finding those bullish companies.
This is what it looks like right now. It updates every fifteen minutes so it will of most likely changed by the time you see this.
PredictWallStreet has five forecasts this morning including FWLT, RIG, SPWRA, VZ and WMT. While I would love to tell you about all of them, I’m gonna focus on Verizon and Wal-Mart.
Verizon (VZ) is forecasted to close down today. Churn rates for Verizon have been low according to recent reports, but subscriber growth has been better than expected. Clearly the two major wireless, Verizon and AT&T, are being propped up right now by competing phone brands- Apple and Research in Motion. In my opinion, for Verizon to have any chance to get in the race the need to release Research in Motion’s new touch screen Blackberry Storm. The release has been largely halted and kept pretty secretive, with no release date in site and only bloggers predicting its release date of November 14th. Citigroup analysts have reported that RIMM needs to launch the Storm by the holidays and I think this recommendation is in line for Verizon as well. Known for having under par phones, it’s crucial Verizon release something as fun and innovative as the iPhone to keep them on the frontier of smart phones. The Storm could be the answer…if it was ever released. Sentiment for VZ has fluctuated the past month, with some dips into the bearish zone, but looking at one week sentiment shows investor feelings are becoming optimistic. I have predicted down today. Until we see the release of this phone, I think VZ is going to be bogged down by pessimistic feelings of the general market.
Wal-Mart, oh Wal-Mart. WMT is forecasted to close down today as well after a few weeks of more bullish forecasts. Has the overall market sludge finally seeped its way to the retail giant? It seems consumer anxiety has finally reached a level even a dose of Xanax can’t remedy. Most major retailers are feeling the slow down, with large decreases in revenue and measly expected holiday sales. Wal-Mart had proved to be the crying shoulder for conscious consumers looking to spend less but it seems it’s a long fall from the top. Sentiment for WMT is relativley neutral, although it has been fluctuating in out of bull and bear territory the last month. Right now 70% of predictors have predicted up for WMT. I’m following the forecast and predicting down after watching market enthusiasm drop quickly this morning.
I just realized I haven’t checked my online stock simulation in a long time. Maybe I’m in denial. I think I just don’t even want to deal with it because I’m afraid it’s that bad. But I have been neglecting it long enough and I think its time I put myself, literally, back on the market. Because frankly, I want to start writing about my stock boyfriends again and I need to find some new ones. And also, because I don’t want to be afraid anymore of my money (whether its hypothetical or not).
Have a good Vetarans Day, whether you are working or not. I know I’m stoked-no class!
Stumble It!
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