Larry Ellison gets to smile that satanic smile, Mark Hurd gets even richer and HPQ cries like the kid on the playground who got picked last for the hoop game. Hurd has all kinds of nifty secrets about HP and Ellison is all ears. I’m sure Mark and Larry are on his multi- bozillion dollar yacht right now chatting trade secrets. HPQ is incensed and probably wishes Hurd was back at the company. The lawyers, as always, will have a field day.
Our market took a beating yesterday as a result of the ‘renewed’ Greek crisis. Europe is in the first quarter and is down by three touchdowns in my humble view. Europe and the IMF are asking “just how much crap is buried” this morning. Ireland is right behind them while Spain just ticks away like a time bomb.. It will all end badly, it’s just a matter of time.
Asia was spanked overnight, but Europe is off the lows, and our markets so far this morning have shaken off yet another round of global uncertainty.
There were about three rumors late last night about who would buy Potash at the $185 level. So far this morning there are no higher bids, but the story gathers steam by the day. It will eventually get a higher bid. That whole need for food thingy is more than a fad.
Tech was pounded yesterday and the banks showed their true colors and folded like a pup tent. These groups need to lead or we will see a train wreck in this market. The bulls have a chance to turn it around today.
My Premium Site had more fun than a bunch of Greeks at a cradle to grave party yesterday. Yesterday we took some gains on some names that were roughly held for a week or less: BVF +15%, KRA +2.5%, ARUN +5.3%. We have only taken 3 small stops out of 15 names so far in September. If you would like to see performance or have questions abut the site, please e-mail me.