Friday, November 20, 2009

Intraday action

US stocks are down today, although above yesterday's lowest point. Dell (DELL) reported surprisingly weak results last night (as it's an AlphaNinja favorite, I'll talk more about it later), certainly not helping the broad market.

Many of today's losers are simply stocks that haven't "grown into" their valuations. And on the other side of the equation, a stock like Zumiez (ZUMZ) is trading up on the day despite a weak outlook, because it's shares may have dropped too far before earnings. Ah, the fickle stock markets.
Leap Wireless (LEAP) and MetroPCS (PCS) are both up about 8% today, as a Pali Research analyst "plays investment banker." As in, suggests the terms for a potential merger. MetroPCS has said they are not interested in a merger, but that could change.


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