Thursday, March 22, 2007

A Few Mid Afternoon Musings

I've been out getting some fresh air. Spring is finally making an appearance here in the NY Metro region and it was nice to take a walk in the mild air. It's about 60 and sunny today.

Merrill put out a note saying it maintains a Neutral on Palm (PALM) seeing downside risk and weak guidance tonight. That's quite different from Bank of America which a few days ago said Palm estimates for this quarter are conservative. We'll see who's right in about 3 hours.

Over 2000 Novastar (NFI) April 7-1/2 calls have changed hands today. There's been talk from sources that NFI will receive private equity funding.

Nouriel Roubini is warning that next we're going to see a meltdown in subprime credit cards and subprime auto loans.

Overall, just a dead day in the stock market.

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