chartThis has to be a short post today since I’m working late. But markets today took the direction from Citi (C) which posted good news, but thanks to TARP dividend payouts, had a lower earnings/share report. This lead to a decline in the financial sector. If it was not for a lift in the energy sector, today could have been worse. I fully mentioned the indicators towards the end of yesterday’s post and the crude oil futures surged more than $2 to $77.58 a barrel on data released showing gasoline stocks fell by 5.2 million-barrels last week, far more than the 700,000-barrel drop expected -economic indicators can be your friend! Overall, the markets did add to yesterday’s gains with the DOW and S&P both up while the NASDAQ was flat. Gold finally was lower while the dollar remained flat. Despite government efforts, foreclosures went up another 5% in the US which is really not good news at all. *Update, in after-hours, Google (GOOG) is up after beating earnings. Actual was $5.89/share while the estimate was in the low end of $5/share. So this is a nice piece of news that could carry into the Friday markets. Google is at a 52-wk high right now and I still kick myself for not buying this stock when it was in the $100 range.

Here is the market summary for Thursday:

I have about 1000 shares that I picked up back in May at $3.70 which I would have gladly sold if the earnings caused a pop. I’m still long. However, just wanted to go back to a previous entry. remember –> this story <— I talked about the buying of (PCX). At the time I got into the stock for 1000 shares at $8.25. Well the company have been on a roll and today was $13.99. Not a bad profit in a few months worth of holding. I see the stock easily entering the $14 range.

Related posts:

  1. New 52wk High for VVTV Shares, Markets End Slightly Lower Today was a great day for some who play the...
  2. Thursday Flat, I Was CORRECT On NVDA shares! For another day, Thursday ended up slightly in the red...