Thursday, January 16, 2014

Thursday Market Thoughts

  • image Whoa, was that $BBY – Best Buy hitting the skids today? Showrooming is the practice of examining merchandise in a traditional brick and mortar retail store without purchasing it, but then shopping online to find a lower price for the same item.
  • So today’s action in the market wasn’t pitiful.  Yes, the Dow fell and the SP500 inched lower.  But the Nazamatazz was up a few.  We’re trucking through earnings season and various Fed comments, so it can get a little dicey.  But after Monday’s panic attack, the market soared Tues and Wed, and seemed to pause to catch its breath today.
  • Some of the leading stocks get a little whippy here and there.  I’ve been trading them some and it feels crazy to buy something extended way beyond its 10dma.  But every pullback seems to be bought up so far.  And I’m not chasing any pyramid scheme stocks (you know the tickers).  I’m also scared of Russian stocks – but if one can catch the volatility in the right direction – KA-CHING!
  • (Oh, same goes for biotechs with no earnings or profits or lemonade sales).
  • I’ve definitely noticed that Best Buy crowds have thinned out considerably.  In years past, the place was a zoo around the holidays!  There would be long lines winding around the front of the store, with folks waiting to be assigned to a cashier.  This Christmas, no crowds and no lines.
  • The Professor from Gilligan’s Island passed away.  RIP, Russell Johnson.
  • Another season of American Idol already?  Time goes by too fast.  And Nikita gets cancelled.  SHEEZ.  Maggie Q did no singing whatsoever and Nikita was on for less than 4 hours a week.  Is that why the show was cancelled?
  • They say American Idol viewership was down by 3 million, but still a huge audience.  Like way more people watching it than going to their local Best Buy.
  • Have you seen airline stocks?  I hate airline stocks.  But I had one for a trade earlier.  I guess with oil prices down and FEES FEES FEES for everything, the companies are doing well.  But who likes those FEES?

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