Sold 5,000 CSCO @ 15.65 (delayed) + .20 points I still love this stock as a swing play, but I don't like the fact that it is up .80 cents today and I was only up .20 cents on my position. I will wait for a dip again and open another position.
14:40:15 CSCO SLD 5000 15.65 14:13:22 WCOM SLD 5000 4.85 12:44:27 WCOM BOT 5000 4.64 10:43:17 VOD SHRT 3000 17.16 I'm on the way out so I'll update my Open/Closed P&L tomorrow am.
OPEN POSITIONS: Long SBUX 2000 24.41 Long FWC 5000 2.75 Short TLAB 3000 9.68 Long PALM 5000 4.01 Short PFE 2000 38.08 Short VOD 3000 17.16 Long .PQODY 20 1.60 CLOSED P&L: $2,050 OPEN P&L: ($3,880) TOTAL CLOSED P&L: $41,409
Stocks Depressed Already down before General Electric's (GE) earnings update that generally met expectations, stocks are poised to open lower following a worse-than-expected jobless claims report and a bigger-than-expected 1.1% jump in import prices. Bond prices are higher following the economic data, but world markets are mixed. General Electric said reported 1Q profits of $0.35 per share, matching First Call's consensus estimate. The conglomerate posted revenue of $30.52 billion, slightly ahead of the year-ago's 30.49 billion. Going forward, GE said it expects 2002 EPS of $1.65-1.67 per share, in line with the Street's $1.66 per share mean estimate. Wal-mart Stores (WMT) led generally strong same-store sales results among discount and apparel retailers, reporting that same-store sales grew 9.5% in March, at the higher end of its internal 8-10% forecast. Net sales in the five weeks through April 5th rose 14.5% from the year-ago period. Yahoo Inc. (YHOO) posted 1Q earnings excluding charges of $0.02 per share, matching the Street's consensus estimate. The Internet communications and media company also raised targets for 2002, increasing full-year revenue projections to $870-$910 million from a previous range of $750-$800 million, and EBITDA to $105-$130 million from $70-$100 million, but the upbeat targets reflect its recent acquisition of HotJobs, and YHOO said its core advertising business remains weak. Network security provider Network Associates, Inc. (NET) reported a 1Q pro forma profit of $0.09 per share, beating the Street's consensus EPS forecast by $0.02 on strong demand for its products. The results exclude web-security provider McAfee.com, in which NET has 75% ownership. NET raised FY02 guidance, saying that it now expects pro forma earnings of $0.50-0.55 per share and revenues of $875-900 million, excluding McAfee. Plays following.....
The Dow had a nice up day and the Naz stopped the bleeding yesterday, but the most significant characteristic of this market is the contrast between the have's and have-nots. The Naz did show some signs of bottoming yesterday, but the Russell 2000, S&P small and mid cap indexes closed at new highs. The strength is CLEAR! Stick with it........ Look for the rally to continue today. These are not recommendations: MCHP - Buy Support: $40.25 Target: $ 49.00 Just broke out of a month long consolidation making new highs. CKP - Buy Support: $15.25 Target: $22.00 The high volume breakout above last summer's high re-establishes a powerful uptrend. AOL - Short Stop: $22.50 Target: $16.25 All support has been penetrated and a further downside move is anticipated. Note the high volume during the slide.
This short is looking strong! My TLAB short is starting to work for me as well. Anyone in VOD or TLAB?