The Market Slides On Mixed Earnings and Volume
Apple’s earnings news couldn’t outweigh the negative earnings from Microsoft.
Earnings season is always full of surprises; some good some bad. AAPL was able to blow away earnings on iPod sale, but MSFT disappointed and announced 5,000 in job cuts. The market did not take kindly to the poor MSFT news and subsequently triggered a sell off. Volume rose on the NASDAQ while the NYSE saw volume ease. There is still a contingent to buy the dips, buy cheap stocks, those who buy into this theory continue to be left in the dark. However, they do support the market when we are nearing the lows. All trend lines are pointing down and the only leadership on the horizon are educational stocks.
ESI printed excellent earnings noting an uptick in their enrollments. I suspect in the coming months this will continue as many who are leaving the workforce will seek an online education to bolster their resume. Stocks like DV, APOL, STRA, ESI, APEI will continue to see improved fundamentals as former professional workers come back for an education. It is very tough to get long any stock in this market and any new long taken should be a miniscule position. I wouldn’t risk too much in this market.
Continue to be vigilant with losses and profits, you want to be around when the next bull market emerges.
MS
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