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Extremely High Short covering is Occuring ahead of Options Expiration this week

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July 13, 2009 – Comments (4)

Stocks: Time to Get Back in?
Richard Burnett--The Orlando Sentinel


4 Comments – Post Your Own

#1) On July 13, 2009 at 4:01 PM, millionby24 (< 20) wrote:

It's time to get back in on certain stocks, There are SOOOO many short oppurtunities after today's rally, I'd wait a few days if your a bear to short again. Probably till 8450, then it's SHORTING TIME!!

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#2) On July 13, 2009 at 4:17 PM, IBDvalueinvestin (99.67) wrote:

Earnings Preview: Goldman Sachs Group by: theflyonthewall.com July 13, 2009 | about: GS     TheFlyOnTheWall 152 Followers 0 Following

Goldman Sachs Group (GS) is scheduled to report Q2 earnings before the market opens on Tuesday, July 14, with a conference call scheduled for 11:00 am EST.

Guidance

Analysts are looking for a profit of $3.48 per share on revenue of $10.66B. The consensus range is $2.82-$4.27 for EPS and $5.96B-$12.14B for revenue.

Analyst Views

Goldman Sach's stock is up over 5% ahead of the report, after an upgrade to Buy from Hold at Meredith Whitney Advisory, which believes Goldman will benefit from less competition in the sector. Goldman Sachs was also upgraded last week to Buy from Neutral at Bank of America/Merrill Lynch, which expects Goldman to beat Q2 estimates due favorable trading and underwriting conditions.

Note that Goldman repaid its TARP preferred stock on June 17, which will be reflected in its Q2 results.

 

Other stocks with raised eps estimates:

from .04 to .25 is BAC

from .28 to .35 is WFC

from .05 to 1.32 is AIG

 

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#3) On July 13, 2009 at 4:40 PM, IBDvalueinvestin (99.67) wrote:

CSX railroad company blows away estimates of .62 eps with:

* Earnings per share at 78 cents; 72 cents from continuing operations

* Productivity and cost cutting efforts continue

* Operating income at $582 million and operating ratio at 73.4%

* Safety levels strong, contributing to favorable casualty reserve adjustment

CSX Corporation [NYSE: CSX] today announced second quarter earnings of $308 million, or 78 cents a share, versus $385 million, or 93 cents a share, last year. Excluding the impact of discontinued operations related to The Greenbrier resort, earnings per share from continuing operations declined 24 percent from 95 cents to 72 cents.

Second quarter revenues of $2.2 billion were down 25 percent from the prior year, primarily due to a 21 percent decline in volume and lower fuel surcharge recovery. Volumes continued to decline across the board, although the rate of decline in the coal market accelerated in the second quarter.

"While the economy continues to significantly impact our business, there are some signs that we may be seeing the bottom in many markets," said Michael Ward, president, chairman and CEO. "Even in this difficult business environment, we are still strengthening our operations, optimizing our resources and making the right investments to prepare our network for the future."

CSX continued to improve its safety performance, contributing to a further reduction in its casualty reserves of $70 million compared to last year. Combined with the company's cost management efforts and increased network efficiency, operating expenses declined 27%, allowing the company to produce operating income of $582 million and an operating ratio of 73.4 percent for the quarter.

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#4) On July 13, 2009 at 6:57 PM, IBDvalueinvestin (99.67) wrote:

God have Mercy , AIG is soaring afterhours after news from CIT. FED. says looking to help CIT. CIT soars as well.

 Who would have thunk it?

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