Office of Workforce Security
UI Weekly Claims

In the week ending July 4, the advance figure for seasonally adjusted initial claims was 565,000, a decrease of 52,000 from the previous week’s revised figure of 617,000. The 4-week moving average was 606,000, a decrease of 10,000 from the previous week’s revised average of 616,000.

If we can get a nice rally in the broader markets today, aapl could break 140…

Edit-or not…

Wholesale inventories are down for the eighth straight month in a row. This pinched the market a bit but the market is now rallying back.

Eric Landstrom - 09 July 2009 09:12 AM

Wholesale inventories are down for the eighth straight month in a row. This pinched the market a bit but the market is now rallying back.

Trying to rally back.

EDIT: The expectation that Alcoa’s earnings would pull the market up today, has been met with heavy resistance by bears. AA is red as I type.

Good Morning Boys and Girls,

my TOS chart is not working this morning.

I am patiently waiting for mid 120 to get back in.  I am in about 30%.  We are slowly getting there, but unsure of timing or extent of the future drop.

I will say this until i am blue in the face.  Apple can sale a gillion iPhones and Macs, but their stock price will be determined by the overall market.  Right now aapl is above the market trend by about 10%.

Next quarter will be critical in regards to earnings for retailers.  Retail sales were not stellar in June.  If unemployment continues to rise and the hot real estate market takes a breather in fall, we can be in for a world of hurt come Oct and Nov.

artman1033 - 09 July 2009 10:06 AM

OT:
I want GLOBAL WARMING!!!

BRING IT ON!!!

Today in Saint Paul, it is currently 64 degrees. I am chilly, pulling weeds. I had to put on my new Menard’s sweatshirt.

Pulling weeds: that’s how it starts: It’d sure be neat if I pulled the old junipers since the trees have grown and they don’t get enough sun. You know while I’m gussying up the garden a sitting area would be nice as well. Maybe I should build a terrace?

Three months later and I’m still building a terrace. With pallets of landscaping materials strewn all over my driveway, neighbors come by and suggest that I should contract the work out while other neighbors stop in and ask if I’m having trouble with the contractor.

Have you seen the Minnesotans For Global Warming web site?

artman1033 - 09 July 2009 10:49 AM

omacvi - 09 July 2009 10:21 AM

Next quarter will be critical in regards to earnings for retailers.  Retail sales were not stellar in June.  If unemployment continues to rise and the hot real estate market takes a breather in fall, we can be in for a world of hurt come Oct and Nov.

Greetings great kitchen cleaning device!

Let the store closings begin!

SMITH & HAWKEN to close ALL 59 upscale garden stores.

This is almost counterintuitive to me. In this recession, I would have thought the consumer would stay home and garden. I have found all the local garden stores EXTREMELY busy. Plus, the county ran out of compost on April 1st!.  The county has NEVER run out of compost before. They usually have it available ALL year.

(Here in Saint Paul, composting lawn and garden waste is MANDATORY! We compost our own lawn and garden waste. We use our own garden compost on our fruits and vegetables. We use the county compost on flowers. We recycle our tomato, raspberry brush at the composite site. But we don’t trust the herbicide and pesticide in the county compost for our fruits and vegetables.

So hit the Galleria on Friday and scarf up lawn and garden swag. Check.

artman1033 - 09 July 2009 10:49 AM

Plus, the county ran out of compost on April 1st!.  The county has NEVER run out of compost before. They usually have it available ALL year.

If it’s compost you need, check out CNBC.

I think most of the U.S. compost is in D.C.

omacvi - 09 July 2009 10:21 AM

... I am patiently waiting for mid 120 to get back in.  I am in about 30%.  We are slowly getting there, but unsure of timing or extent of the future drop ...

I would cut the other 30% loose if AAPL drops to mid $120.  We’ve different read.  This low means a possible retest of $80.  Any decline to below $130 is a sign that you should prepare to get out entirely.

artman1033 - 09 July 2009 11:31 AM

Good old GS, might be getting their comeuppance. With the recent article in RS, their “odd” computer trading issues, their possible losses on oil; the FEDS might be onto them.

Couldn’t happen to a nicer bunch of scum. 

I base my analysis on the S&P heading to 720 before going back up again or possibly further down. We will see.  Not being on margin I don’t cry over paper losses or lost profits since the market is so unperdictable.  I do believe that aapl could correct to 125 before going back up to 150.  So I am trying to make some quick money, otherwise we will be in pain for the next 3 years.  I am young enough that I will still see aapl at 300 and then 1000 in the next 10 years.

artman1033

Which part you disagree with?  Read your comment but I see no disagreement.
Edit2: On the contrary, my thought is similar to yours.

omacvi,

I don’t think AAPL would rebounce from $125 to $150.  If it breaks below $130, it won’t rebounce till it hits $80.  Is either rebounce from $130 or $80 or $50 if $80 breaks.
Edit:  My bet is it won’t break below $132.88.

Mace,

I am following those who predict that we will see a correction in the market that will bring us about 6% lower from today.  So if that happens that is why I think we can see aapl in the mid 125.

At that point if we stop dropping and start to recover and the S&P goes above 930 then we can see aapl make its way to 150.  It all depends on the market and how they react to earnings in the next three weeks.

volume today was very low, especially compared to yesterday.  aapl was much stronger then the market yesterday and today it caught up to the market.

The market controls aapl not what aapl reports and does.  That could happen but it may only account for 10% corrections on big news.

I think the point Mace was making was IF AAPL were to revist 125, it would be on its way to 85. It would be November 2008 all over again. Which of course means the S&P wouldn’t be in the 900s.