Wednesday, November 12, 2008

MORNING WOOD (or wouldn'ts)

In Summary, Macy's and Best Buy's reports both reiterated an expected gloomy slowdown in the holiday season to come, in Best Buy's case, cutting forecast dramatically into the new year has helped send the Dow down another 200 pts this morning. Macy's has decent management, and along with posting better then expected results (still a loss) they are immediately taking action to lower overall inventory and increase margins, like I said yesterday I like Macy's and think they and their high end Bloomingdales stores should survive the Holiday season without a problem. But I am not looking into buying the stock at this point. I have this morning been looking to increase my position in DEC. 15 ATVI calls and although jasolar reported horribly, I am looking for an opportunity to get in NOV.10 CSIQ calls for cheap and SOL calls for pennies on the dollar! crazy market but I'm looking to cap on the spikes/pops. (Oh yeah look at CCYTQ's gain today haha)

No comments: