Diamonds and Dogs
March 13th, 2009
Let it rain, let it rain.No, I am not quoting Pacman Jones; I am talking about the devastating tsunami that has hit our investments. This is a tsunami that has been the biggest destroyer of wealth of all time. We are right in the middle of it. Even with a strong 9% rally this week, a week that ended with four straight gains, we may or may not be out of the storm. But to quote Warren Buffett, when it comes to weather, "predicting rain doesn't count; building arks does." Now is the time to re-examine your investments and make sure that they are constructed to be an ark during the storms and if they aren't, get out your hammer and saw. Speaking of weather, with every winter comes a spring, and spring may have sprung this week&
Diamonds and Dogs
Friday, March 13th, 2009
Diamonds
Financials and related stocks led the way this week and the diamond of the week is GE, which started Monday at $7 and change and ended at $9.62, even with a credit downgrade. Financials were the diamonds this week&finally.
Dogs
Double and triple short stocks BGX, SDS, etc were hammered this week as stocks climbed almost 10%. Beware of these stocks if the SEC does anything with the up-tick rule in April, they may not work anymore.
Thursday, March 12th, 2009
Diamonds
Men's Wearhouse (MW) stock was a diamond, I guarantee it. MW was up 28% to $13.92 after they issued a report that was in-line with projections and also after an analyst upgrade.
Dogs
Pall Corp (PLL) fell $3.86 or 17% to $18.82 after the filtration and water purification maker reported watered down earnings. Speaking of dogs, Madoff got what should be a life sentence today as he pled guilty to numerous charges.
Tuesday, March 10th, 2009
Diamonds
Citigroup (C) reported that they were profitable during the first two weeks of the year. Yeah right&Anyways, C got going, up 40 cents to $1.49 and that helped the Dow rally to a huge 6% or so gain.
Dogs
Johnson Controls (JC), a shining example of firms that have been decimated by the depression in auto sales, fell almost 7% to $8.95 after they reported about their plan to sell $400 million of stock and $100 million of debt. Throw the auto parts maker an air bag.
Diamonds and Dogs market commentary is a journal of daily observations on anything that happens to be of interest to our author. Obviously, our primary focus is the stock market and world economic events, but for this page we have no defined topics. We want this page to be dedicated to the interests, concerns, and possibly to the financial gain of our clients and friends. All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.