INTC puts out a good number last night which has totally trumped JNJ's bad number - see all that matters is how the earnings are received. These are two large US companies that do business everywhere - and do it well. The markets rosie colored glasses are getting fogged up as players wake up lathered up to buy buy buy. JPM beat the number by .30 cents??? huh - where are the analysts - the stock is up about 3.5% on that - I am long a strangle in there so Im shorting some JPM stock this am against the call component of the strangle.
One thing I find amusing is CHK's 3% rally in the last two days in the face of a 7% decline in natgas futures in the same time period - "dont bother me with the facts".
Heres an interesting nugget I discovered in an SEC filing this AM, someone has accumulated an 8% stake in MPG, the guy is a vulture investor...interesting.
Random thought of the morning - I sure hope INTC's ability to sell chips gets a bid in HOV preferred....I know bizarre.
By the way market looks up BIG right now with SPUZ up $13.5 - as the king of pop said "dont stop till you get enough"
JB
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