Dow Jones 10380.43 (Strong Down) Week ending 05-07-2010
"Captain, we have quite a bit of damage down here. Some fumble fingered guy hit the wrong key on the panel and the warp drives went all haywire. The whole crew tried to fix it, but we were working in all different directions. We're gonna need a bottle of single malt Scotch and some more DiLithium crystals. You know it controls the amount of power generated in the reaction chamber, channeling the energy released by mutual annihilation into a stream of electro-plasma. Kirk: Yeah,right Scotty. Kirk: "Can't we just throw some Greece or Portugal A- bonds into the furnace to get us home?" Scotty: "Aye Captain, but the whole place is in an uproar now, we need to calm them all down first" Kirk: Damn it Scotty, we need that power to get to Dow 12,000. Do the best you can.
Kirk: "Bones give me a shot of something, I have a wicked migraine headache now." Bones: " Jim, I'm a doctor not a miracle worker. This Dow 12,000 thing is going to take some time"
Well the stock market had a perfect storm of events this week that made them realize that they need circuit breakers not only on the overall market, but also on individual stocks. Europe's got itself all tied together in one big financial EURO knot. Calls for austerity in Greece has put the citizenry in a very foul mood. A lender of last resort must step forward.
So what to do now? Well, one thing to do is see what stocks were UP on Friday.
Here are some names: Luminex (Symbol LMNX, $16.33), Activision Blizzard (Symbol ATVI, $10.56)), Goldman Sachs (Symbol GS, $142.99), Direct TV (Symbol DTV, $35.89), Marvell Technology (Symbol MRVL, $18.86), InVentiv Health (Symbol VTIV, $25.00), Maxim Integrated Products Inc. (Symbol MXIM, $18.50).. If you didn't get a chance to gooble up some Accenture when it dropped from 41.00 down to $0.14 cents on Friday or to stash some Proctor and Gamble at $39.00 when in jetted across to the NYSE ARCA for a firesale on the NASDAQ, then maybe some of these names might suit you well.
So don't get nervous, Capt. Kirk and the Enterprise NCC-1701 always pulls us out of these precarious situations.
All the best and Happy Mother's Day,