Thursday, January 20, 2011

Where's my umbrella?

Bombs away
But we're O.K.
Bombs away
In old Bombay
-The Police, Bombs Away (1980)

Today's column is a follow-up to Monday's. On that day, I noted that news bombs were falling on the retail sector and that it did not bode well for consumers or consumer stocks. Today, it was extended way out to many different stocks and sectors.

We all know cloud computing stocks got clocked. But when you see names like Riverbed Technology trading 7% off their worst levels you have to think it was a Steve Jobs moment. It still could be a chance to scoop up cheap, panicked shares for a quickie.

But the ranks of biggest losers this week were flush with everything from energy to shipping. From telecoms to semiconductors. Drillers, refiners, miners, some drug stock (Mannkind MNKD - holy bleep!) Even AIG fell apart.Something is just not right, especially since Wal-Mart broke out to the upside!

Where there's smoke there's fire.
There is never just one cockroach in the kitchen.
Betcha can't eat just one (name that product)

Gotta tune in---bombs.
Gotta turn out---atomic lasers falling from the sky
- Channel Z, The B-52s (1989)

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