Pre-market outlook Jan. 14 2009: Retail Sales numbers are terrible!
Today's pre-market is focused on Retail Sales and how to get the consumer to go out and shop again. Retail experts on CNBC thought it was a significant change in the psychology of Americans that needed to change and while many don't want to shop, retailers needed to think of creative ways to get them into the stores again by inventing new and better products that made people feel good about themselves, the experts thought. Actual Sales numbers were worse than expected at down 2.7% and terrible. December year on year Import prices are lowest drop on record at 4.0%
I hate to tell them this but shopping is the last thing on their minds. Survival is at the top of their list and takes precedent over anything else. In pre-market all 3 indexes are down and you can expect the day should be down as well. Yesterday's action was a failed attempt to turn the week around by Bulls, but clearly the Bears are in charge this week. In pre-market Apple, symbol AAPL, is down over another $1 to $86.65 and is we are close to a price where buying should start ($86.25). I would put in an order today for 1/3 of the shares you want to own and if the price drops down to go below $86/share I would put in another order $85.50 and wait to purchase any remaining shares until the market is at the lows. Apple is in the retail business so that is why they are getting hit today but they have a following that will capture more market share over time as people turn away from PC's and embrace their computers as they continue to invent new products and applications for their iPhone and iPods.
Keep your ETF Ultra Shorts SDS and TZA as they will continue to gain momentum this week and next.
One month from today is Valentine's Day so don't forget your sweetheart.
UPDATE: 8:00am PST.
Dow dropped as much as 300 points and all 3 indexes are doing poorly. ETF Ultra Short SDS is now up to $80.30 or 5% and TZA is up to $59.70 or 12% so far today. Keep holding them and do not sell as there are more gains to be had on these 2 over the next week or so.
I also took my own advice and bought more Apple shares at $85.80/share a few minutes ago.
I hate to tell them this but shopping is the last thing on their minds. Survival is at the top of their list and takes precedent over anything else. In pre-market all 3 indexes are down and you can expect the day should be down as well. Yesterday's action was a failed attempt to turn the week around by Bulls, but clearly the Bears are in charge this week. In pre-market Apple, symbol AAPL, is down over another $1 to $86.65 and is we are close to a price where buying should start ($86.25). I would put in an order today for 1/3 of the shares you want to own and if the price drops down to go below $86/share I would put in another order $85.50 and wait to purchase any remaining shares until the market is at the lows. Apple is in the retail business so that is why they are getting hit today but they have a following that will capture more market share over time as people turn away from PC's and embrace their computers as they continue to invent new products and applications for their iPhone and iPods.
Keep your ETF Ultra Shorts SDS and TZA as they will continue to gain momentum this week and next.
One month from today is Valentine's Day so don't forget your sweetheart.
UPDATE: 8:00am PST.
Dow dropped as much as 300 points and all 3 indexes are doing poorly. ETF Ultra Short SDS is now up to $80.30 or 5% and TZA is up to $59.70 or 12% so far today. Keep holding them and do not sell as there are more gains to be had on these 2 over the next week or so.
I also took my own advice and bought more Apple shares at $85.80/share a few minutes ago.
Labels: Apple Computer, Bears, Bulls, CNBC, Retail Sales
posted by Charles Amico at 5:14 AM
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