Stock Market Analysis - 09-12-2008
A lot has happened over the weekend again. This time it’s the collapse of Lehman Brothers (LEH) and Merrill Lynch (MER). LEH is gone, but MER will likely be bought by BAC. This should be another exciting week (more so for the bears of course).
Stock Market Analysis - 07-21-2008
The trading day was fairly quiet most of the day. BAC started the banks off well after reporting a better than expected profit of 72 cents, still down 41% from last year though. AAPL had their call after the market close and they reported a great quarter, but a weak outlook leaving their shares currently trading down 10% in the after hours. They have a history of under-promising and over-delivering though, so I’m seeing this as a potential good opportunity to get in at a discount if it keeps dropping down to support.
I separated the volume today to highlight the decline, since it’s been hiding behind the falling price recently. A move in one direction with declining volume typically means it’s just a correction, and that the prevailing trend will resume in the near future. We’ll have to see how deep the next drop goes.