Consumer confidence rose in December, hitting the highest point in three months thanks to a better outlook on jobs. However, this positive news failed to ignite the market. Nokia has filed a complaint with the United States International Trade Commission alleging that Apple infringes Nokia patents in virtually all of its mobile phones and computers. Thomas Weisel raises their Microsoft tgt to $35 from $31. Piper Jaffray raises their Amazon tgt to 172 from $163. QQQQ implied volatility continued to rise. It looks like bullish sentiment fades away. Upside seen limited. We expect a mild short-term correction very soon.
Wednesday, December 30, 2009
Unable to hold gains
Consumer confidence rose in December, hitting the highest point in three months thanks to a better outlook on jobs. However, this positive news failed to ignite the market. Nokia has filed a complaint with the United States International Trade Commission alleging that Apple infringes Nokia patents in virtually all of its mobile phones and computers. Thomas Weisel raises their Microsoft tgt to $35 from $31. Piper Jaffray raises their Amazon tgt to 172 from $163. QQQQ implied volatility continued to rise. It looks like bullish sentiment fades away. Upside seen limited. We expect a mild short-term correction very soon.
