dapoxetine pharmacy

My Gut Feeling for Today, May 30, 2013

As I suspected, Wednesday would be a teeter-totter day with the markets opening lower and bottoming just after 11AM. Overnight Japan took it on the chin declining by over 5%. I am adding to my positions in the Wisdom tree Japan Hedged ETF (DXJ) and in the process building my position to nearly 3% of the portfolio.

However, Japan’s decline is not spilling over to the rest of the world. Europe is rising and US futures drifted positively in the pre-market. Costco (COST) reported results earlier this morning and bettered analysts’ estimates, thanks to membership fees. Priceline (PCLN) is adding to its share buyback by $1 billion to be funded by a convertible debt offering. The recently announced stock split for shares of Whole Foods (WFM) will be effective today. Warren Buffett went shopping again. This time his holding company went to Nevada for NV Energy (NVE).

The second estimate of first quarter GDP fell a bit short of economists’ estimates but was within the margin of normal error. The drag on GDP is government spending. That is a short term negative but long term positive.

As for the trading day, the penultimate trading day of a very strong May for the bulls, I am expecting early inside and sideways action with a potential pop into the close. I put that potential at 30%.

I will be on the road tomorrow and will return on Monday. It looks like summer has arrived – we skipped right over spring. Have a nice weekend.

__________________________________________________________________________________________

Disclosure: At the time of this commentary Scott Rothbort, his family and/or clients of LakeView AssetManagement, LLC was long DXJ, PCLN and WFM stock— although positions can change at any time.                                                                                        

Scott Rothbort is also the publisher of the LakeView Restaurant & Food Chain Report, a newsletter focusing in on food, restaurant and agricultural stocks. You can subscribe at www.restaurantstox.com  

Interact all day with Scott all day in with your Platinum subscription to Wall Street All-Stars.

You can email Scott at scottallstars@gmail.com

 

Speak Your Mind

Powered by WishList Member - Membership Software
Read previous post:
Get in on the wearable computing bubble

Budget ceiling! Panic, hurry, Greece is imploding. Oh man, the Fed’s gonna stop QE tomorrow, sell everything! Oh no, rates...

Close

Fatal error: require_once() [function.require]: Failed opening required 'wp-java.php' (include_path='.:/usr/local/php5/lib/php') in /home/content/72/8710472/html/wallstreetallstarscom/index.php on line 19