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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: HH who wrote (40548)	9/18/2001 10:52:46 AM
From: Proton	Read Replies (1) \| Respond to of 50167

I sincerely hope everyone is holding up well. I've noticed that my work has become tentative and sloppy. I suppose I ought not be surprised. IBM is a critical tell: 1. It is a beneficiary of "patriotic buying" as it still represents the U.S. market to a lot of people. 2. Company stock buybacks are increasing. The company understands the psychological value of getting Blue back over 100. 3. With options expiry, the possibility of pinning at par arises (n.b.: I haven't looked at the open interest profile yet). 4. There is a funnymental case for IBM's storage and operations consulting. I'm not going to predict that Blue will go up, but my thesis is that it outperforms the Dow and S&P. CLI and PEP acted as expected (though CLI's opening spike was more violent than I had expected). CAL severely underperforming XAL.X (mea culpa), though today's spike under yesterday's low presents a decent stop for a punt on government support. BBY outperforming RLX.X: consumer cocooning may support consumer electronics sales. Watch mortgage-related issues: FRM-30 under 7.00% is key to more refinancing (don't bet on house construction or sales yet). Title-related companies (FNF & FBF) have caught some action. If we manage to get to 6.50%, they'll fly (not a certainty, mind you). Any biotech experts out there (those fixated on one company need not apply <g>)? P.