Replies to post #61859 on Zeev's Turnips Patch-No Politics (ZEEV)

[muteryuin]

Reuters
After the Bell: Stocks Surge on Forecasts
Monday January 6, 5:03 pm ET


NEW YORK (Reuters) - Stocks rose in after-hours trading on Monday, building on the session's gains as investors eyed an upbeat batch of news on sales and earnings from companies like EMC Corp. (NYSE:EMC - News) and Mercury Interactive Corp. (NasdaqNM:MERQ - News)
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Data storage company EMC surged to $7.62 from $6.80 at Monday's close after it said it would post a loss in the fourth quarter but said customer spending was better than expected and that its revenue will meet expectations.

Mercury Interactive, a maker of products for software testing and monitoring, surged after it said its quarterly results would beat its previous expectations. It rose to $34.85 from $33.08 at the close.

Guitar Center Inc.(NasdaqNM:GTRC - News) climbed to $18.52 from $16.86 at the close after the nation's largest guitar retailer boosted its earnings outlook for the fourth quarter.

Software maker Kronos Inc.(NasdaqNM:KRON - News) climbed to $41.43 from $40.70 at Monday's close after it said it expects first-quarter revenue and profit to land at the high-end of the projections it offered in October.

The Nasdaq's After Hours Indicator was up 0.3 percent.

[deuce bigalow]

Closed due to the turnips issuing a "to the hills call"

Zeev, where is to the hills call coming from, i don't see any excessive bullish sentiment on the surveys or p/c ratios, on the contrary, i see us coming off a period of excessive bearish sentiment (failed santa rally),

now we had a couple of failed rally attempts into the august and december highs, which has the bulls gun shy,

this is just the backdrop for a 'up the hills' call imo.

[Math Junkie]

Oddly enough, I actually am a little in the black on my own version of the Dow Gambit. I couldn't bring myself to execute the stop losses, because I couldn't see the rationale for taking losses on Dow components when your outlook for the market as a whole was still bullish, and there were no big negative surprises in the fundamentals for the companies or industries concerned. I have unwound all of the positions now except Intel, which I am attempting to mitigate through a covered call which, if executed, will get me out in the black. I probably will institute a stop loss policy on that one, now that the overall outlook has become bearish.