Deflationary, right . That means well pay more for the future earnings for these two biotechs, and then youve got the ideal situation to buy celgene and gilead, but have the futures down first. Speaking of trampolines underneath stocks, during the earnings periods past, i made note of which companies were doing real buy backs. Not the ones that allows execs to sell options into, i mean buybacks meaningful every day, that were impactful and buoyed stocks up on ugly days on the market. Because again im thinking about the down ten, down 15 futures call here. Do you know there was one that really did act as if it was just a big firefighter trampoline. One of those nets. You know what it was . It was viacom. Viacom. Heres a company that doubled its monster buyback from 10 billion to 20 billion when it reported. The stock has not given you a single break to get in. Still hasnt. Huge buyback is just standing there. If you get a selloff from the rockets red glare in syria, i say you buy viacom
But if we get a pullback, im buying because thats exactly what a correction is for. We saw bunch of circle backs all day today. Day where the dow gained 38 points, s p climbed. 27 , nasdaq jumped. 41 . We all have our lists of whats worth circling back to, what got away and what never looked back until now. When the combination of syrian air strike fears, and anger about upcoming political wrangling in washington have cast on the stock market and theyve combined to keep, lets say the average is not doing much this month except for going down. Keep in mind that this toxic brew along with higher gas prices and stretched stock valuations have made the market more perilous than its been in some time. Weve got to ask ourselves, which are the least perilous stocks we buy once you believe the market has baked in the latest bad news . I dont think it has yet. But maybe you think the worst is over. Im going to try to help you, okay. Let me give you the list ive been working off of. In part beca
The right price and you can make shareholders a fortune. You get it wrong, and it is a killer. The house of pain. As we found out today, the day where the dow slipped eight points. Most people dont think that execution matters that much. They dont believe someone can come in at the top and make the kind of changes that can save a company or get it out of the celt cellular cellar and into a competitive position. When a new coach takes over an nfl team, he can rapidly create miracles. Someone that decides best buy can never come back no matter who runs it might also be a total believer in the possibility of a quick turn, say, in the San Francisco 49ers organization whether jim harbaugh takes over after 6 in 10 season. Sure enough, harbaugh takes the same team to the playoffs with a 133 record and next year, the 49ers, theyre in the super bowl. We dont think anything of that, right . Thats the way it works, coaching matters. Im quite confident that chip kelly can turn around the philadelp
Relief momentary and rallied back into the black before drifting lower once again because bond yields continue to climb. And as we saw last night, the charts are still very much against this market, which is why the dow only finished off pretty hideously, going 105 points, s p slipping, nasdaq declining. 38 . The house of pain. It was like we rallied back up to the top of the cliff and said, i dont know, what the heck do we do now . And then we decided to walk back. Although the averages still got whacked because we had nothing to buy when we reached the summit. Before we get to why the market bounced back but then returned to lower levels, we have to spend a moment talking about the instant reaction to the fed minutes. One month ago, the fed debated about what to do about Interest Rates. Given the dramatic rise in the rates by the market itself, well, maybe they had to do something or maybe the attempt has failed. Or should it slow down the bond buying, taper it so to speak in grudgin
Right after the open. As for the action in europe, taking its cues from the United States. Well see a big rally in china extending one of its biggest rallies in three years. We have a mixed bag in europe with italy up by about. 2 of 1 . Well do our best to keep focused on the business day. Well be following the tragic shooting in connecticut, of course. The New York Stock Exchange will hold a moment of silence to honor the victims in the next few moments, and well be looking at the president s call for meaningful action and the politics of gun control. Lets get to a road map for this morning. It starts with apple. Under pressure once again. Even dipping below 500 a share at some point this morning. Shares will remain range bound near term. Iphone 5 sales and cannibalization among the region. Other concessions from the gop, the speaker proposing tax hikes for millionaires. Could this be the tipping point. Moving the talks beyond deadlock. A big week for earnings. Yes, earnings. Fedex, r