Bulls Fight Back - Dow Above 10000 Again

starbucks crash earningsThursday closed with a rampage of buying which once again pushed the Dow back over 10,000. Anticipation of what investors are hoping for a strong employment report helped bring some confidence in trading. This is just the reason why I sold out of my shorts last week.

As for the rally, I don't see this continuing into tomorrow. Most of today's run was in anticipation for tomorrow's number. Best case scenario is that we do get a favorable report and we go on with our day. However, if the number comes in worse, I would expect to see a rather strong sell off. Unemployment is the one sign that continues to bring down the overall sentiment of many investors, as people know what kind of impact jobless consumers have on an economy.

Even though it seems as if almost all retailers have been crushing earnings reports lately (Starbucks beat their expectations today after close), it is important to know that this is not the case. In fact, more than half of retailers have fell significantly short of expectations, not to mention that most retailers have suffered massive losses compared to the year prior.

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Being in real estate, I have done a lot of work with Starbucks and worked with a lot of clients who have Starbucks as a client. From a landlord perspective, Starbucks is a worry for most. They have closed down hundreds of locations, put a halt on development, and are trying to get out of hundreds of more leases. Their sales have significantly dropped, but due to their report being better than expected, the stock rises. This same principal is happening all throughout the market, which is why we are seeing almost a complete void of fundamentals in the market currently. This fact will change, but for the time being, it makes it a very dangerous field to trade on.

I expect a selling close tomorrow as I do feel that unemployment will be better than it has been, but still very depressing. Hundreds and thousands still losing their jobs give me know reason to cheer, or buy stock for that matter. The dollar held up reasonably well today, despite the rally, which leads me to believe it's almost time to pull the trigger. Happy Trading.


  1. Lin Lin Says:

    Real Estate? I always thought you were a wall street trader. LOL or some kind of Fund Manager. Real estate eh? I guess you should know first hand what's going on then.

    SRS is the best thing since toilet paper...

  2. McBalls Says:

    oh my, Lin Lin sounds a bit angry.


    Starbucks has seen its best days.

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