Im going to take advantage of it, because im trying to make some money around here. After an amazing week but a hohum day where the dow dropped 16 points and the nasdaq gained 0. 3 , i want to talk to you about buyable dips, google and ibm. You might think im sticking my neck out. What i am saying im doing is introducing the notion of longterm opportunity. Its not a copout. First off, we know google and ibm both disappoint ed people last night. We know that because they went down after earnings. Thats what happened. Its undeniable. In the trading world, a stock that goes up after reports is a good stock. And a stock that goes down after reports is a bad one. Pretty simple. Thats because anyone who bought the stock for the quarter, in other words, people are expecting upside surprise, simply got it wrong. In the world of trading you buy a stock for a catalyst. You sell no matter what, good or bad. Thats discipline. Having the discipline to recognize that you bought something for a trade
Slowly moved its way up north. But that is the problem for a lot of people. We are hitting the top of the hour. I should mention that the power outage in New York City has now reached well past three hours. Here at msnbc along with morgan radford, weve been watching a number of different Breaking News situations right now. The big news that were getting here as we talk to you here at 10 00 p. M. We are now told at least 90,000 customers have been affected by this massive blackout here in New York City. When we first came on air several hours ago and they said that it was only about 20,000 customers, i knew that number was wrong, just based on the sheer topography. You have more than two square miles in New York City where people are in the dark. Now were being told by con edison officials that 90,000 customers which could mean hundreds of thousands of people
are in the dark right now at 10 00 at night. Just to do a quick reset for anyone who is joining us now. What we are facing out is
Subway outages and traffic chaos as well as general confusion that ensued, officials are reporting that no injuries or other significant emergencies happened. The best news for new york city on this hot july saturday night is the power is coming back on, as you can see with those pictures and the empire state building. For more, Cnns Brian Stelter has been on the ground for us and hes in Columbus Circle. For those not familiar with new york, brian, thats at the south side of central park. You are in the only Power Network where power has not yet been restored. What are you seeing there now . Reporter thats right. Thats why there are Police Officers behind us here directing traffic, because these traffic lights are still out. This part of the city, this neighborhood, really, of manhattan is still without power at 11 00 p. M. Eastern. You can see some of the crossing guard workers behind us here. Yet life still goes on in the big city, right, alex . You still have the ice cream trucks an
Had is the heart of tourists of new york city. A lot of the tourists are amused by this, a lot of the residents like myself and family are annoyed. Hopefully this is nothing more than a nuisance, some elderly residents for some people who need to get up and down, elevators, this has been a problem, we know the police and fire responded to dozens of calls about elevator outages. Im looking out at the nearby buildings. I see, first of all, the moon starting to light up new york city. Second, some neighbors bringing out canned ems, finding ways to create light. In some office buildings, you see some of the expensive buildings turning on their backup generators. For the most part, the city of new york, midtown west from fifth avenue over to the hudson river is in the dark. The 70s, over to 72nd street. You see people walking out with their cell phones, using them as flashlights. At least for a few hours, people will have that as a backup source of power. When youre talking to people around
That means there are hundreds of thousands if not millions of people affect it by this. We are awaiting a News Conference from fdny and nypd on whats going on here. This started about three hours and 15 minutes ago at 6 45. People were trapped on subways for at least an hour and we understand there were multiple rescues from elevators around manhattan. Lets take a look around manhattan from a number of our cameras. The upper righthand corner of your screen is sixth avenue. Will we look at sixth avenue and its empty. We are told they have stopped traffic on a number of the street to allow convoys of firetrucks and rescue personnel to move in and try and go building by building to search for folks who might still be trapped on a very hot night raid on the bottom righthand corner of your screen we see a picture of times square. So many of the iconic doll boards in times square are now dark because of this blackout and there are tens of thousands of people who have been pushed out onto the