I haven't done any short term trading today. I was out with the family trying to do some shopping over the weekend and a bit frustrated with the weekend crowds when I realized that I could go out on a quiet weekday at any time, which was what I did this morning with my wife - after a "lumberjack" breakfast at the diner.
That Google note from SBSH that I imparted this morning sent a flood a traffic to the blog today... simply amazing. Whenever I write the words, Google, or Apple the traffic meter goes off the scale. Google was up pre market, but that note from the Citi analyst spoiled things today for the GOOG bulls. Will that analyst be right? We'll know Thursday morning, but those are the notes that I pay attention to - something gutsy and unusual. Analysts in general have not been honking really loudly about Google. Many have targets up in the high 500's on the stock which shows even the overall analyst crowd isn't that excited ahead of this Wednesday evening's earnings report.
The thinksecret website says the Apple iphone may launch SOONER than expected. http://notes.thinksecret.com/. hmmm. Appleinsider, meantime, says Apple is on pace to outgrow Microsoft: http://www.appleinsider.com/article.php?id=2449.
For whatever reason U.S. Steel (X) is releasing earnings after the bell today instead of tomorrow.
Crude and nat gas have come in for a bit of profit taking and the stock market overall is pushing against the headwinds of rising bond market yields. Gold continues to consolidate above $640.