Wednesday, October 22, 2008

The Kirk Report

The Kirk Report

Sector Tracking

Posted: 22 Oct 2008 12:40 PM CDT

I'm often asked how I keep track of sector movements and, in the past, I've offered many examples. But, one free way is to simply visit Google Finance which offers a convenient sector summary which appears at the bottom of the page:

Sector Summary

What I like most about this offering is that if you click through the sectors, you'll be taken to separate pages specific to that industry. For example, if you click on "Basic Materials," you'll see not only a nice chart for that industry in comparison with the S&P 500, but you'll have convenient links to news in the sector as well as the top gainers, losers, most actives, etc. You can also dive down into subcategories. Check it out!

Times Are Good

Posted: 22 Oct 2008 12:19 PM CDT

Buick
Needless to say, times are good for those with cash in their pockets. Case in point, my wife and I purchased two new cars over the past few weeks - a Buick Enclave & Chevy Mailibu - at a substantial "fire sale" prices. In fact, the deals we received were so significant that I actually felt bad for the dealership. In complete contrast with other car buying experiences, the people we purchased the vehicles from went over and beyond what we've ever seen to make sure we were more than satisfied (i.e. free oil changes, weekly car washes, extended warrantees, free accessories, etc.).

The clear upside from all of the economic upheaval that we've seen is that businesses are again appreciative to have us as customers and those with cash have the opportunity to get some great deals. While no one wants to spend money right now in such uncertain times, if you've been putting off some of these big ticket purchases for awhile, you may want to go shopping. I think you'll be pleasantly surprised by what you find.

Running The Numbers

Posted: 22 Oct 2008 11:42 AM CDT

Gloomy Guidance

Posted: 22 Oct 2008 07:44 AM CDT

Good morning. Futures suggest another rough day for the market as investors sort through the latest batch of earnings reports. Much like yesterday, the reports were not as bad as the forward guidance as most companies are keeping expectations low.

Also contributing to the negative sentiment this morning is weakness in overseas markets and news that Samsung withdrew its offer to acquire SanDisk due to "uncertain business conditions."

Premarket gainers: AAPL, BRCM, MICC, SPLS, DTG, CAR, PAS, CBL, BKC, AZZ, CREE, VMW, EMC, YHOO, MCD, BSX, NSC, RJET, ABK, NITE, ATLS, NT, FEED, NUAN, & AMLN.

Premarket losers: SNDK, IPI, GOLD, ERIC, GSX, CENX, ACGY, MDCO, PPDI, MKSI, PPDI, SQM, WB, CVH, SIAL, BBL, CX, PCX, KND, BHP, BP, CF, MRK, KMB, T, BA, GSK, & RIO.

We only have two reports on the economy - mortgage applications - which were at an 8-year low and the weekly EIA Petroleum Status Report which will come out at 10:35AM. Oil prices are down 4% this morning.

The weakness we're seeing in the futures is probably reflective of declines in overseas markets, but clearly there's continued concern about whether expectations are low enough given the gloomy guidance by so many companies. If the market has found a true bottom, we should see stocks rally on this news rather than continued selling. Have a wonderful Wednesday!

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