One could look beyond the culmination of these real-life events, and one could shine a better light on certain stocks being billed as oversold -- but only if the market signals this stance is warranted and won't severely punish the brave. The crew I run with advises continued caution.
Off the Chain
- First thought on Apple earnings: Everyone in the name should be prepared for this being an operating-margin story.
- First thought on Amazon earnings: We saw the exact same market response to an earnings miss in the previous quarter from a company that needs to work on its disclosure practices.
- Under Armour (UL): I'd said the stock was overvalued and not to buy into earnings. Inventory has now been worked down significantly (it was eye-popping) and we're seeing new product penetration and marketing investments. As a result, I now have interest.
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