Sell-off may continue, but don't panic
Sell-off may continue, but don't panic

Experts say that the recent market action feels 'more like a repositioning,' and that it won't stop anytime soon.

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Despised like the banks were a few weeks ago, tarnished tech has been sold off and downgraded relentlessly. But it may finally be too late to sell.

By Jim Cramer Sep 14, 2010 8:49AM

jim cramerBy Jim Cramer, TheStreet

 

Does the seemingly endless sell-off in tech stocks make sense, the selling that I believe will resurface again after Monday's Nasdaq ($COMPX) snap-back? Is the liquidation rational given that worldwide growth seems to be coming back, according to China, India, Brazil and now the EU?

 

I want to differentiate two things here. First, yes, it made sense earlier this summer. I know I was too bullish on the group. I didn't see the zero-sum possibilities of Apple (AAPL), believing that other stocks would be able to rally even if Apple went higher. I thought that the mobile Internet tsunami and cloud computing could lift more boats than it did, particularly semiconductor boats, but it turned out that almost all were leaky. I was less concerned with seasonality than I should have been. The group performed much more horribly this summer than I anticipated, in part because I think it was far more over-owned than I thought.

 

The retailer is rolling out the Family Mobile service next week at stores nationwide.

By Kim Peterson Sep 13, 2010 3:26PM

Woman on cell phone  © CorbisUnlimited calls and texting for $45 a month? That's the cell phone plan Wal-Mart (WMT) plans to roll out next week.

The store is unveiling the first cell phone plan under its own name, according to The Associated Press. And it's a pretty good deal, too -- one that could drop prices at other carriers.

Wal-Mart is calling it the Wal-Mart Family Mobile service. It will run on T-Mobile USA's network. T-Mobile is a division of Deutsche Telekom(DT).

Here are the details of the plan:

 

The shock jock hints that he may leave after his contract expires. How would his departure affect the company?

By InvestorPlace Sep 13, 2010 2:15PM

Credit: (© Evan Agostini/AP)
Caption: Howare SternWho knew that porn stars, drunken dwarfs and fart jokes were so valuable?


The radio star largely responsible for Sirius XM's (SIRI) success -- Howard Stern -- may be poised to leave the satellite radio provider, and investors and analysts wonder whether the company is doomed without him.

 

Stern, 56, hinted last week that he may leave satellite radio when his five-year, $500 million contract expires in 2011, saying he may start a Web-only program or offer one through a mobile application.

 

One company has developed a new seat with less room and says airlines are considering it.

By Kim Peterson Sep 13, 2010 1:45PM
Air travel © Christie & Cole/Corbis OK, so some people aren't thrilled with the idea of a stand-up airline seat. How about a saddle seat that threatens injury to your private parts?

That's what one Italian company has come up with, CNBC reports. It's developed what it calls the SkyRider, a seat with a 23-inch pitch or less.

A 23-inch pitch means there's 23 inches of passenger space between the seats. That's at least 8 inches less than what you normally get in economy class, writes Jane Wells.

But that's not the worst part. 

Contrary to what you'll see in the news, the economic recovery abroad is heating up.

By Jim Cramer Sep 13, 2010 10:20AM

jim cramer Maybe there's just no hope to the disinformation campaign against investors.

 

While working out this week, I saw a headline that the European Union is basically "doubling" its growth projections, with the economy putting on a big move after the doldrums of the past few months.

 

That came right on the heels of China's reporting 13% growth -- that's right, 13% growth -- and I am marveling at all the people who said China was finished, as we saw from the Baltic Freight (which became the Baltic Fright) and the tepid oil futures. Plus, hadn't copper just peaked?

 

Fear and turbulence have abounded in the market in recent months. Some top strategists say the way to combat them is to stay disciplined.

By John Reese Sep 10, 2010 7:04PM

While investor sentiment shifted this week amid some better-than-expected economic reports, a number of fears continue to lurk beneath the surface -- fears that have pushed investors out of stocks and into bonds at a rapid rate in recent months. From the week ending Aug. 4 through the week ending Sept. 1, investors yanked a total of more than $20 billion out of equity mutual funds, according to the Investment Company Institute. At the same time, they were pouring more than $35 billion into bond funds.

 

What to do during such turbulent, emotional times? A couple of the top strategists I keep an eye on have recently pointed to the same thing as one of the keys: staying disciplined.

One of those gurus is Liz Ann Sonders, Charles Schwab's chief investment strategist. Sonders (who was one of the few to correctly call the start of the 2007-09 recession, and appears to have been very close to the mark in calling its end) recently stressed the importance of rebalancing one's portfolio -- both within and between different asset classes. "Many investors have probably skewed their portfolios too far away from stocks and toward bonds," she wrote in her latest market commentary. Her advice: Use "a plan that takes advantage of volatility and includes rebalancing and reallocating gains to areas of your portfolio that are underexposed."

 

 

Not great but starting to get some support

By Jim Van Meerten Sep 10, 2010 5:40PM
The week seemed OK, not great but OK. We will use our 3 yardsticks because no single yardstick shows us what we need to know. All the data comes from Barchart. Let's see what happened.

Value Line Index -- Contains 1700 stocks so its more representative of the market than the S&P 500 or very narrow Dow 30 -- Down slightly for the week
  • Down by .51% for the week
  • 40% short term Barchart buy signal
  • Closed on Friday at 2376 slightly above its 50 day moving average of 2330
  • 14 day Relative Strength Index is 56.14% and rising

Barchart Market Momentum -- Contains 6000 stocks -- Percentage of stocks closing above their daily moving averages for various periods -- Market seems to be trending higher

 

Goldcorp is bidding an awful lot for Andean Resources. Is this a smart move?

By Jim J. Jubak Sep 10, 2010 5:29PM

Jim JubakWhat you think of Goldcorp’s (GG) $3.4 billion bid for Andean Resources will depend on how impressed you are with Goldcorp’s track record valuing potential acquisition candidates.


There’s no doubt that Andean Resources’ (ANDPF) Cerro Negro project in Argentina is an attractive gold asset. The project isn’t scheduled to go into production until late 2012, but indicated reserves now come to 2.1 million ounces of gold and 20.6 million ounces of silver. 


Production costs project out as relatively low, a key criterion for any Goldcorp acquisition, at $60 an ounce after silver revenue. Capital spending to get the mine up to production targets is a reasonable $275 million to $300 million, according to Goldcorp.

 
Tags: gold

Wall Street starts to let iPhones in for employee corporate use.

By Kim Peterson Sep 10, 2010 3:00PM
Credit: (© Manu Fernandez/AP)
Caption: BlackBerry Storm 2 SmartphoneThe BlackBerry smartphone, still ubiquitous on Wall Street, may have to cede some ground there to Apple's (AAPL) iPhone.

For the first time ever, JPMorganChase(JPM) is considering giving employees an alternative to the BlackBerry. The bank may let employees switch to iPhones for corporate use, Bloomberg reported. JPMorgan is also looking at phones powered by Google's(GOOG) Android software.

Other banks, including UBS, are also looking at iPhone usage. And Standard Chartered Bank has already switched from BlackBerry to the iPhone, Bloomberg reported. 

It takes more money to nab the title of America's wealthiest man.

By Kim Peterson Sep 10, 2010 1:32PM
John Kluge (© Bebeto Matthews/AP file photo)John Kluge, a billionaire who was named the richest man in America from 1989 to 1991, died Thursday, The Wall Street Journal reported.

Back when Kluge (pictured) won the Forbes annual ranking as wealthiest man, his net worth was estimated at more than $5 billion. That seems downright paltry compared with today, when it takes 10 times that amount to top the list.

The net worth of America's richest man has soared. In last year's Forbes list, the top two -- Bill Gates and Warren Buffett -- were worth $40 billion and $37 billion, respectively. 

A new virus based in e-mail ran rampant Thursday, hitting corporate America hard.

By TheWrap Sep 10, 2010 12:59PM
frustrated © Comstock/JupiterimagesA new virus based in e-mail with the subject line "Here You have" ran rampant Thursday, hitting corporate America hard. So far, the virus has been sighted at Disney, Google, Coca-Cola and NASA, several individuals with knowledge of the situation told TheWrap.


Comcast (CMCSA) was forced to shut down its e-mail servers entirely after being hit, a spokesperson said on Twitter. "Apparently, this virus (if you click on it) will pooch your PC if you shut it off if you're infected," she added. 


"Good Morning America" weatherman Sam Champion was among those affected at ABC. He posted a message on Twitter that said a "huge email-spam-virus" was "filling up" his ABC News email account.

 

These shares are seeing big buying pressure, so they're very affordable.

By InvestorPlace Sep 10, 2010 11:04AM

dollar bill  © Corbis By Louis Navellier, Investorplace.com


Penny stocks can be tricky for many retail investors, with shares trading for only a few cents always listed on the pink sheets and frequently involving high fees and high risk.


But the next-best thing is to go for low-priced investments that barely qualify for the major exchanges, skirting the $1 share price limit.


Right now, a number of decent small-cap financial companies are right on the line with shares at around a buck apiece. To help you get into these picks before they take off, here's my list of three cheap financial investments to buy now:

 

When I look at the funding sources for muni debt I get worried

By Jim Van Meerten Sep 10, 2010 10:21AM
Those of you who follow my blogs know that I am not an advocate of those that try to predict the future and where the market is headed. I let the numbers tell me what to do. I've got a little butterfly in my stomach and I want your opinions.

Let's use some common sense. You normally buy bonds for capital appreciation when yields are coming down because bond prices then go up. The other factor in the equation is: " Can the underlying debtor pay interest and principal payments when due".

Bond prices and in particular bond funds and ETFs have been enjoying price appreciation that have made them very attractive additions to your portfolios. I've been buying them too because the numbers have been positive.

Here are my concerns:
 

There's a perception that semiconductor shares do well only during a huge expansion. So despite some good quarters, it's time to sell.

By Jim Cramer Sep 10, 2010 9:00AM

jim cramerHere's a total shocker: Texas Instruments (TXN) and National Semiconductor (NSM) aren't blowing away numbers. They are simply doing very well.

 

Now people will hate these two stocks, and the whole semiconductor group, even more.

 

Something's happening in microchip land away from the Apple (AAPL) universe, and it isn't just shrinking multiples, the culprit I often hear about when tech gets discussed.

 

Freight volumes are up, making a double-dip recession less likely.

By Anthony Mirhaydari Sep 9, 2010 5:29PM

MirhaydariAlthough stocks look ready for another swoon, there is increasing evidence that the economy's midsummer slowdown is over. Just in the past week, we've had a number of positive data points: Weekly jobless claims are falling again, the trade gap closed sharply in July, the private sector continues to create jobs and the nation's factories continue to ramp up production.

 

Credit Suisse economist Neal Soss notes that while growth has clearly slowed from the pace enjoyed earlier this year, the slowdown isn't enough "to sustain fears of the dreaded double-dip release into renewed recession." In other words, slower growth is not the same as no growth.

 

In fact, one intriguing piece of insight suggests the economy isn't stalling but is roaring ahead. And that's railroad loadings, which have moved to their highest levels since November 2008 and are now up 12.2% over last year, thanks to steady string of gains since January. That's a big deal for the economy at large. Here's why.

 

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[BRIEFING.COM] The stock market finished a down week on a cautious note with small caps leading the retreat. The Russell 2000 lost 0.5%, widening its weekly decline to 2.6%, while the S&P 500 shed 0.3%. The benchmark index ended the week lower by 2.7%.

This morning, the market was provided a basis to rebound with the July employment report, which was just right for the policy doves (209K versus Briefing.com consensus 220K). It showed payroll growth that was weaker than expected, ... More


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