- The market followed the pre-options week playbook today and sold off. The culprit may be some profit warnings and subprime concerns. We already know about the latter, so lets file that under, "It's priced in, dude." What about the profit warnings? Well, one would think that Home Depot and Sears would be tells of consumers paying higher energy prices and their inability to squeeze anymore cash out of the home equity loans. Same with Best Buy. But then Cheesecake Factory came out with some good numbers. So anyone can make their case on how the consumer is doing. Keep watching the earnings and how investors react to the numbers.
- Today is one of those days that you know you're stocks will eventually be carried out. I was watching my mo-mo names and thinking, "Hey, these little buggers are holding up well in the selling action today." Green on the screen when the market is in a selling mood? Noice! But... Should've been my cue to sell. Off I went to work out over lunch, and by the closing bell my mo-mo names were not spared.
- OK, the market has been up something like 493 out of 494 days, so we're overdue for some selling, right? I am still in the summer correction camp, FWIW.
- I was about to write that I could care less about tonight's All-Star game. But then, out of nowhere comes a friendly wager from a coworker. He's a follow-the-crowd kind of guy, and taking the American League. I'm the contrarian and taking the Catch the Falling Knife League, also known as the National League.
- Tuesday's afterhours bloodbath: Compuware. Down almost 19% ah.
- So after folks drop $600 on the iPhone, Apple announces that they are planning on releasing a $300 version later this year. LOL. Just remember the iPod. Seems like there was a new release on every day that ends in the letter "Y."
- The folks at FinancialSense are bringing out the crystal ball today: SECOND QUARTER REBOUND,THIRD QUARTER RELAPSE, FOURTH QUARTER RATE CUT? And they're using caps, so they're shouting it out to the world!
- You know a the funny thing about lifting weights? You work out for an hour doing sets and reps until fatigued. The endorphins flow and you feel invincible. Your muscles pump and rip as they're exercised. You're shirt feels tighter when you leave the gym as you tell yourself, "I'm such an f'n stud." Then you go to pick up a can of soup, and it feels like it weighs 200 lbs. I think the moral to that story is that if you can open up a can of soup after exercising, you're not using proper form. Or, maybe the moral of the story is that one should exercise with cans of soup. Lifting weights is one thing, but is there any real-world application? "Sure, he can press a boatload; just don't ask him to open a can of soup."
