Thanksgiving is so close I can almost touch it. I make the five hour drive down south tomorrow with nothing but me, my iPod and the 101. I most definitely hate that drive, which is why I haven’t done it in over six months, but I’ll be running on hunger and caffeine so it shouldn’t be too bad. Plus, I can’t wait to talk stocks over turkey and cranberry. My new thing is to sound as smart and pretentious as possible to my parents so they know how much I’m learning in college. It’s all part of a bigger shceme to get grad school paid for.
After yesterday’s rally, the market seems to have pulled back a bit. Investors are cashing in Tuesday, despite government plans to aid consumer lending companies and a deteriorating credit market. While investors sell off, they remain positive: the major indices show bullish sentiment according to PredictWallStreet’s real-time sentiment meter. This seems to be a good sign; while investors may be cashing in, they remain optimistic about the markets future and aren’t merely trying to pull out fast.
Apple (AAPL) rallied about 12.5% yesterday. And while this is definitely news to feel good about, it also is part of the ebb and tide of today’s choppy market. One day you’re on top, and the next ya want a bailout. So, rejoice Apple kids, but don’t leave the party hat’s on for too long. PredictWallStreet has forecasted Apple to close down today. The leader in stock predictions, PredictWallStreet has over 115 predictions right now on Apple and 46% of those predictors think agree Apple will close down. Judging from yesterday’s giant rally and this weeks bearish sentiment, I’m making my prediction for down as I have found in the past Apple only sustains gains for a little while before falling again. I can see that looking at one month sentiment, AAPL has been very touchy in the past month, jumping from bull to bear territory fast.
Yahoo! (YHOO) is also forecasted to close down today. Although, 68% of predictors have predicted up for the company, I noticed that overall sentiment this month was extremely bearish, then bullish and has now run flat…kinda like the company, how cute. But anyway, price has been all over the place this morning but my guess will be it ends the day in the red. Not only is Yahoo suffering firm specific draw backs, but its facing a deteriorating market hat only helps bog it down more. Its like there is no icing on the cake, no icing on top of a already yucky flavored cake. Wait, does that even make sense? It’s tough times for Yahoo! and it seems as if they’re gonna need super-hero management to drag them out of single digits at this time.
Enjoy the rest of the trading day, you’ve got 8 minutes. Gobble, gobble.
Stumble It!
