Earnings Plays show continued strength despite tech breakdown:TXI,PFT,WTSLA,CON,RXSD,GFI,GDYS,PRGS,TELC.... Other sectors were making gains..although as usual the techs are disappointing. JBIL was a day trade for two straight days. Today it was not a good trade. Lots of companies are still posting high earnings and high current and next quarter projections on earnings: CCL (a play of mine from last quarter) was up on some fleet additions, NPD went from a negative to a positive quarter. I still feel there are great gains to be made by 'filtering' out the stocks with exposure to Asia (unless of course the crisis is accretive to their profits as in PIR*)
Pharmaceuticals were strong, Banks were strong. Daytrades are still really good coming on the heels of 'news'. We just have to readjust our thinking, welcome other sectors into our rather limited universe of stocks.
*PIR ORLANDO, Fla., March 17 (Reuters) - Pier 1 Imports Inc
<PIR.N> Chief Executive Officer Clark Johnson said Tuesday
savings from the southeast Asian economic crisis should start
flowing to the U.S. specialty retailer this summer.
"We'll not start feeling the benefits of these lower costs
until July or August," Johnson told Reuters after a
presentation to institutional investors at a Raymond James &
Associates conference.
"We do 20 percent of our business in southeast Asia, and we
expect to receive a benefit in terms of lower costs as we buy
in U.S. dollars. And when this is translated into their
currencies, there's more value," he said. |
