A Slow Day…
Tonight we will have the full wrap up. But today was very slow with light volume. The economic data this week is what many are waiting for before making their next moves.
After hours J.B. Hunt (JBHT), a US trucking company, reported earnings and missed the Q1 guidance for the quarter. Still waiting on forward guidance. CROC’s (CROX), the fad shoe company issued a warning after hours and it was a direct hit by a missile into the hull of the company. Essentially cutting earnings in half for the entire year and announcing the closure of their Canadian manufacturing plant.
Check in tonight…
More on this topic
(What's this?)
Truckers Protest Fuel Hikes
(Contrarian Profits, 4/1/08)
Too Ugly to Stay Good
(The Wild Investor, 4/24/08)
Crocs (CROX): Another Earnings Release, Another Sell-off
(College Analysts, 2/20/08)
Chuck –
I know the market has been keeping you busy. If you have time can you do a chart on FEED?
Thanks…
Chuck
I saw the following today:
“Here is one where probably everyone disagrees with us. We think Dow Theory no longer works very well as the PPT Plunge Protection Team refuse to allow the Dow to have free rein and operate normally. Every time it acts like a failure they prop it up.” – Roger Wiegand Editor Trader Tracks Newsletter & The Rog Blog at webeatthestreet.com
http://freethemarketman.wordpress.com/2008/04/12/congress-creates-more-socialist-sewage/
Can you share your thoughts on the PPT? How do you incorporate PPT intervention into your view of the stock market? Any thoughts on when or how often it affects the markets? Daily? Only on 700 point drops? Never?
Thanks.
Dear Chris:
The Plunge Protection Team is really the President’s Working Group. Can their intervention in the market’s save us from ever having a bear market or a recession? Absolutely NOT! Some have said that the Fed can just print money to it’s heart’s content. While that is true, it is not without it’s consequences. And those consequences are severe. The PPT/PWG fully understand that. Always, always remember that reality cannot be denied. One cannot simply wish away the “bad stuff.”