The morning equity futures are green, gold down, oil up after yesterday’s large loss. Banks are weaker in early morning trade so am pleased I kept my FAZ position overnight.
Most of the morning news focuses on Obama’s difficulty in filling out his cabinet. Sen. Gregg sounds classy in his explanation but he would have been even classier if he had never accepted the nomination.
Teva Pharmaceutical’s stock (TEVA) has broken out of a long price pattern on better volume. This Israeli company manufactures generic as well as proprietary drugs. It announces earnings next Tuesday and there is speculation it may beat the concensus estimates. The company was mentioned here this week when it announced its intention to file for a generic version of Cubicin, currently made by Cubist Pharmaceutical.
PALM has gained in early trade as it gets an Outperform rating from Credit Suisse and am fearful it may get away from me.
Gold is now about $939 and would like to buy more in the $930 area.
Ever had a gout attack? I don’t wish it on you! Brought about by too much red wine last night my right big toe is swollen and red. Should a feather fall on it I howl. But the wine went great with our Puttanesca sauce on penne. I never knew what puttanesca meant: my wife tells me the whores (Puta) of Naples would make the aromatic sauce to lure in the men off the streets. How the hell did she know this, and not me?
I’m the guy on crutches behind the bar in this great video depicting ’80’s British pub life. UB40 Red Red Wine 1983
