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October 12, 2005
Random Rants - aapl, n, jblu, pch, ibm and spy
Apple's profit quadrupled and the stock declined after hours. It was a classic case of buy on rumor and sell on news.
Inco is buying Falcobridge for $11 billion and this will create the world's largest nickle producer. Could this mark a peak in mining shares?
Potlatch (PCH), a paper products company, is the latest to issue an earnings warning due to rising energy cost. This theme will continue to play out.
IBM got an upgrade and a breakout at 82 on good volume.
While Delta (DAL) is cutting routes to save on fuel, Jetblue (JBLU) is increasing routes on the east coast. Watch 20 for a breakout in JBLU.
Strong starts and weak finishes are not bullish.
Posted by Arthur B. Hill at October 12, 2005 05:35 AM