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MVL....Added more
CRY.....Sold half to take some gains. The rest rides with the Gods.
Bought AOL......Stop at $10
EXPE...
Internet travel agent Expedia (Nasdaq: EXPE) took its turn in the earnings
confessional last night, reporting fourth-quarter results of 48 cents per
share. These figures topped Wall Street's consensus estimate by seven cents
per share, or 17 percent. This morning, Legg Mason boosted its rating on the
shares to a "buy" from a "hold." The shares have advanced more than six
percent today, hurdling their 10-day moving average in the process. EXPE has
not closed above this short-term trendline in over a month. Additionally, the
equity has moved above potential 50-percent retracement resistance at the
58.16 level. This marked the retracement point between the equity's
mid-October low and its mid-November high. During this month-long rally, EXPE
shares increased more than twofold. Schaeffer's put/call open interest ratio
(SOIR) for EXPE has fallen rapidly over the past few weeks. As recently as
January 21, the indicator stood a chip shot away from a new annual high at
1.23. The SOIR now reads 1.01, in the 50th percentile of all readings
measured over the past 12 months.
Click the following link to see the Daily Chart of EXPE Since October 2002
With 10-Day and 20-Day Moving Averages:
http://www.schaeffersresearch.com/wire?ID=7064 .
Added to my MVL long position. Low volume pullback msays buy me. Dare Devil movie opens next Fri. The stock will surely run up next week to new highs. X-Men 2 opens right behind Dare Devil and then the Hulk. Good support in the $11 area.
from Favors Weds report -
A decline below those same levels tomorrow should signal that a
still stronger decline is coming this week. Any decline below 7967.82 on a
print basis and 7950.35 intraday on the Dow tomorrow will turn our Gann
Daily Trendline back down, which will signal another test of 7917 on a
print basis and 7884 intraday.
We are still in the time frame for some sort of low, according to the
Cycles. There is no convincing evidence just yet that we have seen that
low.
No matter what the Dow does tomorrow, we are going to hold off taking
any new long positions, that is, we will remain at 70% cash. We want to
see more convincing evidence that a low has indeed been seen before we
start raising current long positions.
We did go long the QQQ's today, on the rise above 24.80. Our stop and
reverse for the QQQ's is 23.82. This means if 23.82 is broken we will sell
longs and go short with a new stop and reserve of 24.87
I'm selling half here....HYGS,PLUG and BLDP.
EXPE...Covered at $63. Took the loss
Even if its a positive surprise it won't matter today. Its todays perception which I'm interested in. Between the global drama, chart breakdowns and a Fri employment report many may prefer the sidelines by todays close.
Added to EXPE short at $62.81
I'm looking for selling into the close as many move to the sidelines in front of Fri's employment report. Any rally today is a shorting oppty. My opinion.
>>>I have this feeling that something is about to break. I don't know what it is....event, news, market or something within the next 3 days. Probably just me..<<<
What will break is the IRAQ focus as N.Korea becomes the main focus. Its getting worse.
WDC....Near a day high
I don't think so. I will be selling 25% of my position in blocks as it moves up.
President Bush is scheduled to speak at 1 p.m. EST at the National Building Museum in Washington. He will focus on the government's fuel cell initiative he outlined during his Jan. 28 State of the Union address, in which he announced $1.2 billion in funding to reduce America's dependence on foreign oil and reduce pollution.
Adding to the momentum from Bush's speech is Abraham's remarks at the Economic Club of Detroit on Friday.
This is interesting...
RHAT....
Discount retailer Sam's Club has begun selling a US$299 Linux PC that runs the Red Hat (Nasdaq: RHAT) 8 operating system. The move is similar to one made by Sam's Club's parent company, Wal-Mart (NYSE: WMT) , which began offering a low-cost Linux PC running the Lindows OS last July.
The Sam's Club "Starter Set" $299 PC features a 1.1 GHz AMD (NYSE: AMD) Duron processor, a 20 GB hard drive, 256 MB of memory, a CD-ROM drive, built-in Ethernet and modem, and an integrated graphics processor.
APCC day high
OVTI continues higher. Posted about this one on Wed.
CRY....Bingo, thru $5.50. Now those shorts will cry.
CRY needs to get thru $5.50
Bought CRY
The shorts will soon cry as CRY breaksout and a short squeeze developes. 28% of the float is short.
About CryoLife
Founded in 1984, CryoLife, Inc. is a leader in the processing and distribution of implantable living human tissues for use in surgeries throughout the United States and Canada. The Company's BioGlue(R) Surgical Adhesive is FDA approved as an adjunct to sutures and staples for use in adult patients in open surgical repair of large vessels and is CE marked in the European Community and approved in Canada and Australia for use in vascular and pulmonary sealing and repair. The Company also manufactures the SynerGraft(R) vascular graft, the world's first tissue-engineered vascular replacement, which is CE marked for distribution within the European Community. The human grafts processed by CryoLife using the SynerGraft technology are distributed in the U.S. under the trade names CryoValve(R)SG and CryoVein(R)SG.
Bought CRY
The shorts will soon cry as CRY breaksout and a short squeeze developes. 28% of the float is short.
About CryoLife
Founded in 1984, CryoLife, Inc. is a leader in the processing and distribution of implantable living human tissues for use in surgeries throughout the United States and Canada. The Company's BioGlue(R) Surgical Adhesive is FDA approved as an adjunct to sutures and staples for use in adult patients in open surgical repair of large vessels and is CE marked in the European Community and approved in Canada and Australia for use in vascular and pulmonary sealing and repair. The Company also manufactures the SynerGraft(R) vascular graft, the world's first tissue-engineered vascular replacement, which is CE marked for distribution within the European Community. The human grafts processed by CryoLife using the SynerGraft technology are distributed in the U.S. under the trade names CryoValve(R)SG and CryoVein(R)SG.
SNE.....Short working
Short EXPE at $62.26
TEVA short working
I think RMBS is going to $12 soon.
>>>How long do you think they'll run? Minutes? Hours?<<<
How would I know that? I just knew that Bush was going to push for Fuel Cells. I did recommend to buy back into them the other day.
Yup....as expected
NVDA should see some upside today....
SANTA CLARA, Calif. -(Dow Jones)- Nvidia Corp. (NVDA) and Microsoft Corp. (MSFT) have settled all matters related to pricing of the Microsoft Xbox GPU and MCP chipset and have ended the arbitration between them.
Feb 05, 2003
Global: The Return of Rosy Scenario
United States: Debt Ceiling -- Here We Go Again
Japan: 4Q GDP Preview -- Out of Breath
Global: The Return of Rosy Scenario
Stephen Roach (New York)
http://www.morganstanley.com/GEFdata/digests/20030205-wed.html#anchor0
CBST is surging to a day high
The following companies recently issued guidance:
-AMLI Residential Properties Trust (AML) expects 2003 funds from operations of $2.18 to $2.26 a share, plus or minus a penny.
-Anheuser-Busch Cos. (BUD) continues to expect 2003 earnings growth of about 12%. Based on 2002 earnings of $2.20 a share, the projection would put 2003 earnings at $2.46 a share.
-Arris Group Inc. (ARRS) projected first-quarter revenue of $120 million to $130 million, with cash earnings of 3 cents a share to a loss of 3 cents a share.
-Benchmark Electronics Inc. (BHE) expects first-quarter earnings of 42 cents to 46 cents a share and revenue of $440 million to $455 million.
-CBL & Associates Properties Inc.'s (CBL) is comfortable with estimated 2003 funds from operations of $4.57 to $4.60 a share, barring any significant disruptions to the economy.
-Chordiant Software Inc. (CHRD) said it expects have a break-even point of about $19 million in the first quarter.
-Circuit City Stores Inc. (CC) expects fourth-quarter earnings from continuing operations of 21 cents to 26 cents a share, including estimated remodel and relocation expenses of 2 cents a share and one-time costs of 12 cents a share related to the change in compensation structure.
-Computer Sciences Corp. (CSC) anticipates earnings in the mid-90-cents-a-share range for the fourth quarter ending in March, with a revenue decline of 2% to 4%.
-Dimon Inc. (DMN) still expects fiscal 2003 earnings of $1 to $1.05 a basic share, excluding any effects from market valuation.
-El Paso Corp. (EP) estimates 2003 ongoing earnings of about $1 a share.
-Equity Office Trust (EOP) affirmed its 2003 funds from operations guidance of $2.80 to $3 a share.
-Equity Residential (EQR) expects 2003 results to come in at the low end of its previous FFO guidance of $2.25 to $2.40 a share.
-EResearch Technology Inc. (ERES) now expects first-quarter earnings of 18 cents to 20 cents a share, on revenue of $12.8 million to $13.2 million.
-Felcor Lodging Trust Inc. (FCH) expects first-quarter funds from operations of 14 cents to 18 cents a share.
-Getty Images Inc. (GYI) projected first-quarter earnings of 15 cents to 19 cents a share, on revenue of $120 million to $124 million.
-Hain Celestial Group Inc. (HAIN) expects fiscal third-quarter earnings of 22 cents to 23 cents a share on sales of $123 million to $128 million. For the fourth quarter, the company forecast earnings of 19 cents to 20 cents a share on sales of $113 million to $117 million.
-Hovnanian Enterprises Inc. (HOV) expects first-quarter earnings per share at the high end of Wall Street's estimate of 95 cents to $1.04 a share.
-Inco Ltd. (N) sees normalized income of $1.05 to $1.15 a diluted share in 2003.
-Jones Apparel Group Inc. (JNY) said it remains comfortable with its July forecast for 2003 earnings of $3.05 a share, including a 6-cent-a-share accounting change.
-Jones Lang LaSalle Inc. (JLL) expects a first-quarter loss of 25 cents to 35 cents a share.
-Kforce Inc. (KFRC) expects first-quarter earnings to range from a 3 cents-a-share loss to a penny profit, and expects revenue of $123 million to $128 million.
-Labor Ready Inc. (LRW) predicted a first-quarter loss per share between 8 cents and 10 cents, on revenue between $170 million and $175 million. The company forecast 2003 earnings per share between 30 cents and 35 cents on revenue between $900 million and $920 million.
-Linens 'n Things Inc. (LIN) expects first-quarter earnings of 10 cents to 12 cents a share, and 2003 earnings of $1.77 to $1.85 a share.
-Metro-Goldwyn-Mayer Inc. (MGM) expects a loss of 28 cents to 38 cents a share on revenue growth between 3% and 5% for fiscal 2003.
-MKS Instruments Inc. (MKSI) forecast a first-quarter pro forma loss of 5 cents to 10 cents a share.
-Monsanto Co. (MON) expects 2003 earnings per share of $1.20 to $1.40, excluding the effect of the SFAS 143 accounting standard and the resulting increase in depreciation expense.
-Moody's Corp. (MCO) continues to forecast low, double-digit percent growth in earnings per share in 2003, before the impact of expensing stock options, which is expected to be about 4 cents a share. The company earned $1.83 a share in 2002.
-OM Group Inc. (OMG) forecast first-quarter earnings of 7 cents to 10 cents a share and full-year earnings of $1 to $1.20 a share.
-OneSource Information Services Inc. (ONES) predicts first-quarter revenue of $14.6 million to $14.9 million and earnings of 6 cents to 8 cents a share. For 2003, the company expects revenue of $59 million to $62 million and earnings of 25 cents to 30 cents a diluted share.
-Papa John's International Inc. (PZZA) expects fourth-quarter earnings will come in near the lower end of the company's earlier expectations, which ranged from 58 cents to 61 cents a share. For all of 2002, the company said it expects earnings per share near the low end of its earlier expectations of $2.30 to $2.33.
-Pegasus Solutions Inc. (PEGS) expects 2003 cash earnings of 59 cents to 66 cents a share, on revenue of $190 million to $200 million.
-Principal Financial Group Inc. (PFG) forecast first-quarter operating earnings of 53 cents to 56 cents a share and also backed its November guidance for 2003 operating earnings of $2.25 to $2.40 a share.
-Quintiles Transnational Corp. (QTRN) is targeting 2003 earnings of $59 million to $74 million, or 50 cents to 62 cents a share, on revenue of $1.55 billion to $1.65 billion.
-RenaissanceRe Holdings Ltd. (RNR) reiterated that it expects 2003 earnings of $5.30 to $5.70 a share.
-SimpleTech Inc. (STEC) expects first-quarter revenue to drop to between $38 million and $42 million.
-Sprint Corp. (FON, PCS) expects earnings of $1.40 to $1.45 a share and Ebitda of $4.5 billion in 2003 for its FON group, and EBITDA of $3.3 billion to $3.4 billion for its PCS group.
-SRA International Inc. (SRX) expects to earn 24 cents to 26 cents on revenue of $113 million to $117 million in the third quarter. For the fourth quarter, the company sees earnings of 26 cents to 28 cents a share on revenue of $119 million to $127 million, and for the fiscal year the company expects revenue of $439 million to $451 million and earnings between 95 cents and 99 cents a diluted share.
-Tommy Hilfiger Corp. (TOM) still expects fiscal fourth-quarter earnings of 13 cents to 23 cents a share, and called Wall Street's consensus estimate of 17 cents a share reasonable. The company lowered its earnings outlook for fiscal 2004 to $1 to $1.20 a share, assuming 40 cents to 50 cents a share for the first half of the year and 60 cents to 70 cents for the second half of the year.
-TXU Corp. (TXU) expects to report 2003 operating income between $1.95 and $2.05 a share and estimates earnings growth between 4% and 6% beyond 2003.
-U.S. Concrete Inc. (RMIX) put its fourth-quarter loss of $16.8 million, or 62 cents a share, on revenue of about $114 million. The company said it expects to report a loss of 10 cents to 11 cents a share on revenue of $90 million to $95 million in the first quarter, with full-year 2003 earnings coming in at 58 cents to 62 cents a share on $510 million to $520 million.
-Vertex Pharmaceuticals Inc. (VRTX) expects its 2003 loss to widen to $140 million to $160 million, excluding the gain from the expected close of the PanVera transaction, which will be more than $75 million.
-WebEx Communications Inc. (WEBX) expects first-quarter income of 11 cents a share, on revenue of $43.5 million. For 2003, the company is forecasting earnings of 50 cents to 55 cents a share, on revenue of $200 million.
-Whirlpool Corp. (WHP) expects 2003 earnings of about $6.20 to $6.40 a share.
-Wolverine World Wide Inc. (WWW) expects to earn $1.21 to $1.24 a share in 2003 on revenue of $875 million to $885 million.
Still in....
Ya know what I think of Cramer? Guess
WFC...
SACRAMENTO, Calif., Feb 5, 2003 (BUSINESS WIRE) -- The Davis Administration
today announced that the Department of Corporations has issued notice of intent
to revoke the residential mortgage lending license of Wells Fargo Home Mortgage,
Inc., because of Wells Fargo's refusal to make refunds after the Department's
routine examination revealed improper charges and inadequate disclosure to
California consumers.
"When Department of Corporations examiners discovered that Wells Fargo Home
Mortgage was making charges not allowed in California, the bank chose not to
make the requested refunds to its mortgage customers," said Commissioner
Demetrios A. Boutris. "Instead, Wells Fargo challenged California's authority in
federal court. On behalf of the consumers of this state who are tired of being
charged hundreds more than they owe by multibillion dollar financial
institutions, we intend to revoke Wells Fargo's license to offer home mortgages
in California."
The Department found two types of violations in its examination of Wells Fargo
Home Mortgage: per diem interest overcharges (a state violation) and a failure
to fully disclose finance charges (a federal Truth in Lending Act violation).
The per diem violation arises when a lender charges more than one day's interest
prior to the recording of the mortgage or deed of trust. In the loans examined,
this resulted in approximately $150 of charges to the borrower per violation.
The second type of violation, a failure to disclose all appropriate charges in
the finance charge calculation, resulted in finance charges being understated by
an average of $613 in the loans where the violation occurred. Since the
Department was only able to examine a fraction of the loans made by Wells Fargo
in 2000 and 2001, Wells Fargo was instructed to take the appropriate steps --
including, presumably, a self-audit -- to make refunds to customers.
Despite having featured their Department of Corporations license for marketing
purposes on printed materials and on their website, Wells Fargo refused to make
refunds and instead claimed that California's authority was preempted by federal
law. Furthermore, Wells Fargo chose not to follow the advisory letter issued by
the regulator of national banks, the Office of the Comptroller of the Currency,
in questions concerning the enforcement of state law. While the letter counsels
national banks to consult with the OCC upon being contacted by a state regulator
looking to enforce state laws, Wells Fargo did not take action until it was
requested to make refunds. The action taken was filing suit in the United States
District Court for the Eastern District of California on January 28, 2003, where
Wells Fargo complained that an audit would cost "several million dollars."
Wells Fargo's (NYSE:WFC) lawsuit seeks exemption for the lender from the
California Residential Mortgage Lending Act. Compared to federal law, this state
law provides several significant protections which are designed to protect
California borrowers from unlawful, deceptive, and fraudulent lending and
servicing activities. Wells Fargo's lawsuit is unrelated to the $38 million
lawsuit filed last month by the Department regarding 15,000 admitted overcharges
by Wells Fargo Financial.
The Department of Corporations is California's Investment and Financing
Authority, reporting to the Business, Transportation and Housing Agency and the
Governor. The Department is responsible for the regulation, enforcement and
licensing of securities, franchises, off-exchange commodities, investment and
financial services, independent escrows, consumer and commercial finance lending
and residential mortgage lending. For further information or to obtain a
complaint form, see the Department's Web site at www.corp.ca.gov or call
1-866-ASK-CORP (1-866-275-2677).
CONTACT: Department of Corporations
Andre Pineda, 916/322-6941
URL: http://www.businesswire.com
Today's News On The Net - Business Wire's full file on the Internet
with Hyperlinks to your home page.
Copyright (C) 2003 Business Wire. All rights reserved.
-0-
Big news hitting the wires on WFC....Yike!!!!!
MAT....Surging to a day high
QQQ....Covered at $24.12 after shorting at $24.71
Yup and I'm still in. My top pick for 2003.
QQQ come to papa...