Friday, October 17, 2008

The Kirk Report

The Kirk Report

Mailbag

Posted: 17 Oct 2008 04:16 PM CDT

It's time to open up the mailbag and answer some questions. Topics covered in this mailbag include:

  • The Folly Of Using Historical Chart Patterns In Today's Environment

  • Using MACD & The Stock Trader's Almanac

  • Book Recommendation On Options

  • Tools I Use For Creating Link Posts

  • Hedge Funds Using Extreme Leverage

  • On Waiting For Safer Waters

  • Opportunities On Long-Term Stock Screens

  • Thoughts On Purchasing A Home In This Market

  • Holding Overnight & Positioning Ahead Of Gap Opens

  • Trending Patterns In Oil

  • Paying Off Debt First Or Investing

  • Why Not Move To Cash Instead Of Shorting Against Longs

  • Going Long Financials After The Bounce

  • Catching Falling Knives & Panic Buying

  • Financial Weapon Of Mass Destruction

  • Market Psychology & Prioritization In The Aftermath

  • Measuring Success As A Trader

  • Screening For 50/200 Moving Average Crossovers

  • Keeping Motivated During Tough Times

  • Sectors With The Most Attractive Pure Valuations

  • Is This The Bottom Or Bear Market Rally?

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Earnings, Data, & Warren Buffett

Posted: 17 Oct 2008 07:59 AM CDT

Good morning. Premarket futures are lower as the market sorts through the latest earnings reports from Google among others, another large drop in housing starts and building permits for September, and merger discussions between General Motors and Chrysler.

On the credit market front, Libor fell to its lowest level in four years while the Fed makes a strong push to set up a clearinghouse for those infamous credit default swaps.

Premarket gainers: AMD, GOOG, GILD, CEGE, CMCSA, CIT, SKS, IAG, BX, NDAQ, GM, BX, D, & SII.

Premarket losers: ING, ESLR, ACGY, ALD, RRI, GLBL, SIG, CRBC, BHP, RTP, BBL, TPX, LAB, CGV, FRO, LYG, QGEN, BCS, MT, SI, TTM, MT, IBN, TIE, AAUK, AIG, & CBI.

After the opening bell, at 10:AM we'll take another look at the latest reading on consumer sentiment. Like we've seen this week, not much is expected from any of these economic reports and the market doesn't seem to be reacting much to poor data in hope that the bad news has already been priced in. Speaking of which, Warren Buffett is out with bullish comments on American stocks and you're likely to hear a lot of discussion over his comments today.

All in all, unless we have a very poor day in the market we should close out the week with some nice gains (i.e. both the Dow & S&P 500 are currently up over +5% on the week). This would be the first positive week since the first week of September. Go make a great day!

1 comments:

Anonymous said...

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Recently an insurance company nearly wind up....
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A bank is nearly bankrupt......filing chapter 11 protection.
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How it affect you? Did you buy insurance? Did you buy mini note or bonds?
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Who fault?
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They bailout trouble finance company, but they will not bail out your credit card bills…….Should they have use the bail out $$ to pump into all different industries instead ……You got no choice, and no point pointing finger but you can prevent similar things from happen again……
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Are you a partisan?
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Since the bailout already done, the question now is besides letting the economic back on track, what regulation should be done to prevent similar things from happen again…..

Eg.
The top management of the Public listed company ( belong to "public" ) monthly salary should be tied a portion of it to the shares price ( IPO or ave 5 years ).... so when the shares price drop, it don't just penalise the investors, but those who don't take well care of the company.....If this rule is pass on, without any need of further regulation, all industries ( as long as it is public listed ) will be self regulated......because the top management will be concern about their own pay check…… Instead of spending big money on hotel stay and luxury function……..Top management get monthly salary and director fee, while investor get dividends….
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Whenever anywhere, anytime, there is election campaign.....We can use this to question your candidate there….. if you agree on my point, please share with many people as possible.... Finance and Media are the two only industries can shaken politics ( Maybe Hackers can ), please help to highlight also...

Also recently some comments say that Respectable Mr Buffet had start buying, yes, he started buying with guarantee return of 10% annually….. Do we individual investor had the same offer…. If yes, I will definitely join in and buy……

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Blog
http://remindmyselfinstock.blogspot.com/
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Facebook, come and join as a friend and share with your friends…..
Remind.myself@yahoo.com

Eg:
Just image, Institution lent out the shares already, in their hand, they don't have any stock or shares already, but Institution know that in the market, there are those individual investor who borrow the share going to sell the stock, so Institution naked short also, because there is no restriction on those Institution that those stock or shares that lend out, cannot be trade by the institution at that moment.