I confess to being so bummed out by GOOG's blow-out earnings this afternoon (yes, I was hoping for a nasty surprise, which would be a great catalyst for the bears, but no such luck), that I'm going to change gears and offer a few long ideas I've got in the housing (or housing financing) sector. I've loaded up my IRA with about seven straight equity positions (all long), and here are a few of them.
I was going through some old files when I happened to find a copy of Money magazine from December 1999. A couple of the quotes I found somewhat amusing……….
Page 78: "Tyco CEO Dennis Kozlowski responded by calling Tice's criticism false, unfounded, and malicious. And the analysts following the stock sided with Tyco management. At least three of them strongly recommended buying because of the drop, projecting target prices of $75 to $80 per share. Tyco's accounting issues are far different from cases of obvious impropriety in which a company is covering up fundamental problems…if you liked the stock at $51 a share, you've got to like it even more at its recent price of $44."
……and this one……
Page 129-130, The Sensible Internet Portfolio – included recommendations such as CMGI, Exodus Communications, Inktomi, EarthWeb, and Ariba
Well, maybe I shouldn't freak out too much just yet. After all, IBM had killer earnings yesterday, and I thought we'd be in for a horrible day today, but it wasn't so bad. Still. I was really hoping for GOOG to blow up. "Hope" is a lousy basis for decisions, though, isn't it? But this week is going to be even more loony than usual, with index options expiring today and equity options expiring Friday. But the "thrills" this week are over. All the big earnings are done, and there's absolutely zippo economic news tomorrow. So with that, I bid you a slightly tearful adieu until tomorrow!
