Tuesday, May 5, 2009

Disney's earnings

Disney sees business stabilizing and the stock closes at $24.10 in tonight's after hours session.

Maybe we can get some cover from Goldman Sachs tomorrow on Disney's earnings. After all, they only downgraded Disney on March 24, and the stock traded down to 18. At least, I covered Goldman's games! And those that listened to Goldman missed a 33% move on a household name! That's the advice you get when a firm is conflicted!

In fact, let's take a look at Goldman Sachs and their downgrade of Disney Tuesday, after Monday's 500 point move. Why not take a name that everybody knows and downgrade to take the edge off that the bulls had in psychology? It's Goldman's same old game. Remember March 13, when Goldman removed WalMart from their conviction buy list? The Dow had tacked on 350 points that week, and it never looked back, so Goldman threw out another name that everybody knows, to dampen psychology. Boy that was a helluva call, and so effective wasn't it? The market only tacked on 250 points in their face!

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