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S&P 500: 1,317.45 Change: +0.03%
Vet67to82
P&P Score: 0.31 | Points: -606.29 | Accuracy: 68.73 | Average Pick Score: -4.46   Annual Return: N/A  
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BUY: WAL MART STORES (WMT) Rating: 2
Start Price: $51.37
Points: +4.16
Created: 05/20/2010
Stocks are on sale ... BIG discounts ... BUY now ( smiling ) ...

(1) Trading systems' breakdown caused crash
(2) Germany: Restoring confidence in euro top priority
(3) Cramer: No pain, no gain in this market
(4) NYSE expects all US stocks to have circuit breakers
(5) Staples 1Q net income rises
(6) The Big Money: Senate fails to end debate on bank reform bill
(7) Happy customers, happy investors?
(8) Redford on the oil disaster
(9) Who are the best CEOs ever?
(10) Markets plunge on global worries
(11) Jobless claims rise; leading economic indicators fall. Unions strike in Greece. South Korea blames North Korea for sinking its warship in March. more...
(12) What copper says about the economy
(13) Most eyes are on gold right now, but copper gives us a better read on the economy and a better way to play the recovery. more...

** Jobless claims rise by largest amount in 3 months 5/20/2010 11:55 AM
** Oil arrives on La. shore, edges into key current 5/20/2010 11:52 AM
** ITT awarded $32M contract for Qatar plant 5/20/2010 11:50 AM
** Sears' net income falls on appliance discounts 5/20/2010 11:50 AM

"Last week, S&P 500 forward earnings [estimates] soared again to $88.59 per share," economist Ed Yardeni wrote in a Thursday report for Yardeni Research. "The consensus for earnings in 2011 rose to $99.52.... Put a multiple anywhere between a reasonable range of 13-15, and the result is that the S&P 500 will be somewhere between 1300 and 1500 by the end of the year."

The selling effort has sent the Volatility Index up 25% to a new 52-week high. Options are likely playing a part in the spike since tomorrow is an options-expiration session.

2 Comment(s):

Author Vet67to82     Date 2010-05-22 01:13:53
Previously closed pick ( before market meltdown ) opened @$52.12 & closed @ $54.30 +4.18% -1.21% +5.39 2010-05-18 14:54:09
Author Vet67to82     Date 2011-04-29 10:55:57
Wal-Mart announced the return of shotguns, rifles, and fabrics to some rural stores.

When I am with my family or friends, the ladies head off to do their shopping, and the guys head to the automotive, tools, electronics, and sporting goods sections. Just because you are looking at a fishing rod, rifle, or shotgun, doesn't mean you'll buy one but Wal-mart gets it that once you are in the sporting goods section you may be induced into impulse buying other items that might not be looked at if the shotguns and rifles aren't there. The same with the fabrics department for the creative ladies that want to design, create, or enhance their own, or their children's garments."
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