Late start this morning…
I just have a few thoughts as we await the second open of 2010.
– I’m seeing and hearing a lot of examples of people over-trading, as though the market won’t be open for the rest of the year. This is almost always a mistake. The tape was magnificent yesterday and there’s a lot of buzz in techland for the CES show later this week, but slow down muchachos, it’s only January 5th!
– Is there another potential Dubai/Greece Tempest in a Teacup situation out there? If a ratings agency downgrades the sovereign debt of a baltic country and no one cares does it make a sound? The Greece thing was used as a buyable dip…will the next one be?
– Morgan Stanley upgraded everyone in the wireless sector today except Motorola, which they rated underweight. Their RIMM target is 90, QCOM target is 57 and PALM target is now 14:
7:22 AM EST
PALM was initiated with an Outperform rating, Morgan Stanley said. $14 price target. New carrier distribution should help drive growth in 2010.
I find it hard to get excited about the handset makers, there are too many of them. Will they EVER consolidate?
Good luck and be careful out there…