I always look forward to Super Bowl Sunday and I don’t even like football. I like the food and the drinks and the friends, not so much the game. There is something nice and oddly relieving about drinking and eating chip dip in the middle of the day, all day, and not feeling guilty about it at all. I loved Bruce Springsteen’s half time show as much as the next old guy, but I do miss those more scandalous, pop sensational acts pre-Janet Jackson’s wardrobe malfunction debacle.
The Dow closed below 8,000 this morning. Yikes! Tech shares were higher as industrials fell lower. The economic stimulus proposal is now in front of the Senate along with a plan to give more aids to banks. Also, negative numbers surfaced as more layoffs were reported and January looked even gloomier than before. The sentiment meter at PredictWallStreet showed mostly bearish sentiment for Nasdaq, Dow and SP 500.
Dell (DELL) is reported to be in the process of making their own smart phone prototypes right now, one with a touch screen and one with a keyboard. While other bloggers are posing this as competition to the iPhone, I hardly think so. Some of the major cell phone carriers have already tried that…and pretty unsuccessfully. I’m not sure how a DELL is going to approach this but I am curious to see it. If it looks anything like their laptops, we can expect something clunky and grey. The rumors did nothing for DELL today as they were down 2%. Sentiment is slowly becoming more bearish. Looking at the star performers on PredictWallStreet I can see the 3 and 2 star performers predicted UP. Since a lower star rating means these predictors were less consistent in their correct predictions, I can also look at this in a opposite way. If the lowest rated predictors are predicting UP, I may think it reasonable to predict DOWN, the opposite way they are predicting since they have been less accurate in their predictions.
Furthermore, checking up on my usual favorites (AAPL, RIMM, GOOG, etc.) I noticed I was doing a lot of down predicting. The market was just too bad today for me to feel any sort of optimism. But a diamond in the rough, I always feel there is potential in RIMM. A good article was posted here. Essentially, RIMM does indeed have potential, but you must know how to control the risk. RIMM has always been volatile and experiences fluctuations like crazy but if you’re smart and use a stop loss and price target, there could be some gain here. RIMM actually close up today, one of the few stocks that did. Contrarily, their sentiment is becoming more bearish. The 3 and 2 star predictors had predicted UP for RIMM so perhaps this people are becoming better affiliated with the stock. In my opionion, its always good to look at both sentiment and accuracy and whether or not there were predictions from 4 or 5 star rated predictors.
Hope ya’ll enjoyed your Super Bowl weekend, I’ll be seeing you at the gym.
Stumble It!
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