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Trade Alert – Your momma says you ugly: A couple small buy backs

October 23, 2012 by Cody Willard 1 Comment

It’s u-g-l-y, you ain’t got no alibi, ugly out there this morning. The culprit is mostly earnings and guidance coming in worse than most analysts had expected, but the headlines will tell you instead:

Dow falls 200 as earnings,  Europe put Street on edge

Remember last week when the markets were hundreds of points higher than they are right now and I wrote:

“Markets Rally On Improved Eurozone Sentiment and The Next Euro Storm Is in Italy – The Endless Euro Crisis is off the front pages again. That’s a bearish indicator, for what it’s worth. And, yes, the next time the Endless Euro Crisis dominates the front pages, it’ll be a buying opportunity just like it was the last dozen times. Which makes right now the time to panic about the Euro Crisis if you ever wanted to.”

The Euro crisis is indeed back on the front page and the markets are indeed getting a panicky feel to them again. And it’s indeed time to add a little bit to the long side again. I’m going to start by buying back some GOOG and some SNDK common this morning. We’d sold calls in both when they were higher and I’m just going to start a gentle nibble here of buying some of that back.


The Wildcat Cheerleaders

Related posts:

Trade Alert - P/E ratio comparisons and time horizons
Trade Alert: A first strike at a new wearable play (and my speaking schedule for the Money Show)
Trimming Roku, Tough To Buy SpaceX, Amazon Lagging, Etc
Trade Alert - Buying puts in a Red Box
Trade Alert: Adding to these ETF shorts
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Filed Under: Trade Alert

Disclosure: At the time of publication, the firm in which Willard is a partner and/or Mr. Willard had positions in some of the stocks mentioned above although positions can change at any time and without notice.

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Comments

  1. David Bensoussan says

    October 26, 2012 at 3:28 pm

    It’s tricky to rock a rhyme that’s right on time.

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