I'm glad the market actually closed lower after attempting a rebound. I'm long BIDU, AAPL, WFR, and FSLR (opened at the close of trading). These will most likely be closed premarket tomorrow morning. We have earnings from MER tomorrow morning, and another jobless claims report. If the data isn't catastrophic, I think we might get a trend day up tomorrow and I'll be back in long after the open- lots of rumors of a fed cut on Friday. Not so sure I believe it, but buy on the rumor right?
I'm paying close attention to ICE, MA, FMCN.
ICE (Intercontinental Exchange) is probably the best positioned exchange out there. It's going to get clobbered in this credit environment because it is one of my number one buyout candidates, and buyouts are NOT happening right now. I recommend this as a major buy during the market weakness. I in fact traded this today (picked up at 144.19, incredible), and sold at 150.
MA - I keep reiterating the VISA ipo - MA will rise once news on Visa starts hitting the wires.
FMCN - This is the best positioned China Olympic play IMO. Demand for marketing and advertising on their digital signage is going to skyrocket before and during the olympics. I'm not so sure about timing an entry point but I think this stock goes to 100 sometime this year. $48 is a significant moving average level for FMCN so establishing a small position MIGHT be ok here. 10%?
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