It was a steady rally from a weak open to a close on the day's highs, which happen to be multiyear highs. Sounds like a technical analyst's ideal description of bullish action, no?
What's the best way to play the explosion of new gadgets and hardware from this week's MacWorld and CES events? Google (GOOG - commentary - Cramer's Take), of course, as all of these devices are about enabling us to pull our content from the Internet. And Google's the de facto conduit to that content. (I will touch on this on tomorrow's "Cashin' In" on Fox News at 11:30 a.m. EST, btw.)
It sure seems like a Fed cut went off the table earlier this week when the Fed's cousins overseas raised rates again.
The economy seems to be weathering the housing storm just fine and is perhaps even accelerating again. We'll have a lot more data points upon which to build this analysis as earnings season heats up.
I spent a few nights last week combing through Apple's 10K and 10Q that they finally got around to filing after putting it off for months and spending millions of shareholder dollars investigating their option-backdating scam. I had more questions than answers when I finished it all. This option situation there is not pretty and is going to get uglier as we fill in the blanks that those finally filed documents left. More on this next week.
Oil finally got that bounce, didn't it? Back on its way to $100? I'm thinking if oil sticking around these $50 to $60 levels for an extended period of time would be good for the economy. $40 to $50 would be even better though.
If oil were to drop to the $30s or even the $20s, would the volatility really disrupt the economy?
And would that make an already scary Russia (and/or others) even scarier as their economies would tank and those in power get desperate?
Ugh.
And with that, I'll wrap up the writing for the week. Thanks for reading and have a good Martin Luther King, Jr. weekend.
P.S. Will you be there when Cramer makes his next move?
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Cody Willard Blog Tech Shocker 1/12/2007 3:16 PM EST Can you guess what's leading the market?
Cody Willard Blog A 'Rational' Market Setup 1/12/2007 12:55 PM EST Heading into earnings season, you want good news bought and bad news sold.
Cody Willard Blog The Great Semi Debate 1/12/2007 8:39 AM EST AMD sinks, but the bad news for semiconductors may be almost priced in.
At the time of publication, the firm in which Willard is a partner was long Google, although positions can change at any time and without notice.
Cody Willard is the manager of CL Willard Capital Management, LLC. He is a regular guest on Fox News, CNBC and other networks, and he writes a monthly column for the Financial Times. He is also an adjunct professor at Seton Hall University and the author of TheCodyReport.net, a monthly stock market newsletter. Willard appreciates your feedback -- click here to send him an email.
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