Tabby, I don't follow MUEI real close, but I know they have been having had problems making money, don't know the details. However, it doesn't really matter, because they beat the estimates. Circuit City may be the scapegoat for triggering today's sell-off, but Circuit City has been in the middle of slowing sales problems for awhile now, so this isn't really new info in my opinion. I personally don't know anyone who has ever been enthusiastic about buying PC's and peripherals at Circuit City. The last time I looked at their PC and peripheral dept. at the local store here was about a year ago, and I was no more impressed than my prior trip there.
Can a rebound hold? It's hard to see what the general market will do more than a half-day forward, if one can accurately see that far, but day-traders and other short-term traders will be taking profits at the first signs of a pull-back. After that, "The trend is your friend", plus new news (FOMC meeting tomorrow) is always pulling the market in a new direction, either pushing a rebound higher or forcing a trend reversal.
Anyone else have a prediction for tomorrow?
Dwight
Edit: Thanks for your input to Tabby's comments/questions, Jeffrey. |
