Naz News, Gappers and FLE's

[MiamiGent]

CBI & AMD, Short

( accompanying music ):

)

CBI Shorted Chicago Bridge and Iron Company (CBI $11.97) today. Notwithstanding a hammer close provided by the bounce boys, I'm looking for another 30% down.
ER was an utter disaster (EPS -4.22 vs .83, Revs 1.28B vs. 2.16B). Crown jewel technology biz, the div. that makes the money, going on the block. Divi wiped out so related funds will sell. Downgrades coming. Baird and Macquarie both promptly lowered PT to $10. Credit raters will weigh in, negatively.
Guidance slashed, lawsuits coming. Could be positioning for BK.
Jim Cramer today said, "I would not touch this stock". Por supuesto, he's admonishing not to go long.
BTW, CBI is neither in Chicago or in the iron and bridge business. It's in oil & gas services.
MG

http://stockcharts.com/h-sc/ui?s=CBI



AMD Shorted

( accompanying music )

It hard not to notice Advanced Micro Devices (AMD $12.12) going down (last four closes- 13.43, 13.12, 12.84 and 12.12 ) and accordingly I jumped on with a short today, as the trend is our friend.
AMD is heavily played, owing to a low PPS and volatility.
Still up 94% over 52 weeks, it's prime for retrenchment in this frothy market with a background of saber rattling . A Head and Shoulders Chart Pattern confirms.
Looking for 10.

MG

http://stockcharts.com/h-sc/ui?s=AMD