The market got a little exciting from a b/s S&P report about subprime and credit crunch is about to be over. Just another news ticker- ignoring it for the time being. Why not focus on the hard facts that the retail numbers were sh*t and foreclosure numbers were dog poop.
Hit list:
S (Sprint Nextel) - trading at book value- with everything nextel related written off this first quarter, they stand a pretty good chance on making a come back. Cost- cutting effort and lower churn rate should help. Also the asset on the book looks solid for a takeover play. AT&T and VZ can easily do a stock swap with 25% premium. Let's not forget Google, who is trying to get into the cellular/wireless biz. $20 bil is not bad price to pay for the infrastructure and spectrum.
STP/AMAT- These solar stocks are the tech stocks back in the late 90s. STP looks like a survivor.
FXI - Solid China index based on H-share, valuation isn't completely out of whack. The price action said other wise. It is making new lows. The short term play is to short on the bounce.
The Bulls are holding their stubborn support 1270-1280. Near-term bullish.
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