Wall Street All-Stars

The Street is rife with speculation that Q3 techland earnings will be good but guidance going forward might be spotty. With the economy in shambles in the West, the lack of job creation, the continued loss of high paying jobs, anemic expected growth, it is not hard to imagine the consumer not spending as much as in the past come this holiday season. If that scenario plays out techland could be vulnerable. Something to think about this weekend.

Yahoo! (YHOO) enters into a deal with Disney's (DIS) ABC. Whoopee!

Early returns from the US carmakers for the month of September were quite strong. Chrysler reported a 27% increase while General Motors (GM) reported a 20% increase. How can this be viewed as negative for the economy?

@jeffmiller: Jeff - thoughtful perspective on ISM. I am begging to do some work on Population adjusted GDP growth. Any studies out there I can look at along those lines?

I got my first get me all out client call. Unfortunately I am afraid others might follow.

I am wondering how this market will react to really bad news?

I am also wondering whether AMR does an EK tomorrow? Or are is the rmuor true?

Closing at the lows of the day. Lows of the week. Lows of the month and also the lows of the pasy 52 week. Hmmmm!

Starting to sell $Brk.b puts. Any thoughts on this trade? With Warren defending the stock I feel pretty comfortable putting this on (maybe in a big way)

@cody def thought about that. I think the board continues to defend the stock at book value, perhaps even more so. And if one is willing to own the name, I think the trade might be a good one

Is $AAPL's deal with $S a sneaky way for them to get Sprint's spectrum? Doesn't the iphone agreement make Apple Sprint's single largest creditor?

Markets trying to shrug of macro economic headwinds once again. The Nazz is actually up 38 bips. Bearded Ben is on tv talking his way out of this mess that was created right here on Wall Street with all the sub-prime junk being peddled all over the world. Europe is also trying to recover from the lows. Will todays close be different? Gut feeling say....Yes! We shall see.

AMR doing its EK impression like I thought it would. Up 20% or so as I write this out.

Why should the Fed both with QE3? The entire world is doing it for the Fed by flocking to US Treasury debt across all maturities.

I was talking to a buddy of mine yesterday who recently was laid off from AMR. he had some interesting comments to make. He said that the company needs to go into some sort of restructuring because things internally are a total mess. I asked him if he was biased against AMR due to the fact that he was laid off. He said he wasnt and that was his honest opinion. Passing it on. By the way he worked in logistics.

money leaving pg oils defense utilities going into retailers tech smh

has the cody willard great tech mkt begun? i hope so...

Interestingly, EK is under pressure again today at at the days lows, down 12%.

increasing Nuance & Garmin short NOW $NUAN $GRMN

best live blog for iphone 5: live.arstechnica.com/event/iphone_5

apple introducing it's voice tech: “For decades technologists have teased us with this dream that we can talk to our technology. But it’s never come true! It’s such a let-down! What we really want to do is just talk to our device!” short $nuan

Looks like Chuckles (aka the markets) is going to prove me wrong about a snap back shortable rally. Having said that Chuckles has been, is and will be intensely volatile for the next few weeks. I still expect a year-end tradeable rally but I just dont know the trigger yet.

@jay: It looks like Apple took the market down

Investors don't like lack of iPhone5. But iPhone 4S is a huge upgrade in capabilities: camera, processor, apps, iCloud. I think it is clearly enough differentiation to drive upgrades and pent up demand. And it leaves iPhone 5 out there for no later than next June helping to drive a higher calendar 2012 growth rate for AAPL. I'v ebeen hedged on half of my Apple for a few weeks with Nov $400 Puts. I'm going to hold them until earnings but I think today's action whicle predictable is a huge overreaction.

@Steven: Do you think that the Apple sell-off will be looked as another reaction low just as it was when Jobs retired?

Chuckles let me be right after all but he certainly took us for a wild ride today.

I do think AAPL may have had a reaction low today but earnings are due two weeks from right now and the stock tends to trade in a similar sell the news pattern. That is why I held my puts.

closed $nuan short for miniscule gain, closed $grmn at slightly bigger loss. can't win em all

@Steven: Dont you think AAPL is a steal here given the $50 slide in the share price within the last few weeks for no reason except for market-related weakness?

@Jay. Well Apple made a new high when everything else was down 10-20%. SO a pullback was overdue. I think the stock belongs north of $500 on a pure fundamental basis. But I am wary of trading around the earnings report. Of course, everyone expects that sell off now so it probably will rally this time.