A very important earnings week..We do expect downside in RIMM, CIEN, CCMP, MERQ, IFIN, INFY, RSAS and JNPR. We'll take them as they come. However there might be some 'surprises' so nothing is etched in stone. There might easily some mighty nice moves in companies like RI, CHBS, GE is a tossup could be a barometer is all. Moderators will be focused on real time earnings news, possible announcements etc. Focus for all of us will be in the intraday moves on the same equities which will soon be put in a special 'key' which clicked on we'll get the LIVE trades for the day with entry, stop loss and exit (allowing for longer holds). We will also be contining to download intraday charts especially for later day breakouts, possible target exits, breakdowns below and above consolidation areas, moves might be sharp this week. WE won't be having to scroll down or look in the 'log' for those who come a bit late, and soon to find the charts there will be a 'drop down' menu daily for the charts.
There is no blind bullishness in our stance, just a cautious, 'we'll believe it if we see it' attitude especially until Thursday. If we get a rally, we'll take it but no longs will be held in technology overnight.
This could be a 'down' week because some of these stocks mentioned are STILL overvalued and after the Thursday rally, there are shorts setting up again. There is also small chance it will be a catalyst to some bear flag rally sometime after the first earnings drift in and 'hope floats'.
But any one in that group may surprise so it looks like we don't hold through earnings unless its a 'conservative' put position. There is usually a gap and crap so there is no problem getting upticks because every small 5-minute rally seems to bring in buyers.
Ruby Tuesday raises Q3 share, sales projections
WEDNESDAY, FEBRUARY 28, 2001 4:58 PM
- Reuters
NEW YORK, Feb 28 (Reuters) - Ruby Tuesday Inc. (NYSE:RI) on Wednesday raised its third quarter earnings per share and same store sales projections and announced that its chief financial officer was retiring this summer.
The Maryville, Tenn.-based restaurant operator had predicted in early January that its earnings per share for the third quarter of fiscal 2001 would be 26 cents a share. It now expects results to be in the 27 cent to 28 cent range.
Same-store sales growth is now expected to be 6 percent compared to previous estimate of a 2 percent increase in the third quarter.
The company also announced that its CFO Russ Mothershed is retiring this summer after 29 years with the company. He will be replaced Margie Naman.
Ruby shares inched up 5 cents, or about 0.3 percent, to close at $17 on Wednesday, above a year low of $8.0938 and a touch below its 52-week high of $17.68.
Rtr 16:58 02-28-01
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