Friday, July 24, 2009

A few hours into the day (WFR)

AlphaNinja - I'm SHOCKED that the market is holding up so well. Microsoft and Amazon were a mess last night, and the market seriously needs a breather (pullback), yet it's only down a bit.

You know who's having a really bad day? Folks who bought shares of MEMC Electronics (WFR) after an earnings beat last night, when the shares were at $22.50 in after hours trading. Multiple investment houses downgraded the stock this morning, sending the shares down to 18.33, handing people a 19% trading loss in a matter of hours!!!

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