Wednesday, July 1, 2009

Market Outlook

The ADP report continues to be weak and job losses continue to expand, worse than expectations. As for the market, I'm more neutral now but expect a strong up day today or tomOrrow if program buying comes in on weak volume. The upgrades in GLW are incredible, I need to dig deeper from this point to determine my next move on the stock. I don't really acknowledge analyst price targets but I need to get a grasp on best case EPS for next year. If they can really boost pricing and margins the stock could hit another 20% from these levels. If not, the stock will probably top out at 17. The story is strong, so if it dips back to 14, I will double down.

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