Tuesday, September 19, 2006

Market Update

Today's definitely not looking so good. The markets are down sharply for a number of reasons.

Thai Coup - The Thai military has ousted the prime minister, and the baht fell dramatically. While the coup might not have much of an economic impact, it is a bit scary seeing as how it was baht currency troubles that led Asia into a serious economic slowdown.

Yahoo! (YHOO) - The company warned on their quarter citing slowdown in ad revenues. Yahoo is down 12.5%, and its troubles led the rest of the internet stocks are down as well.

Maxim Integrated (MXIM) - The company warned on their quarter, too. This definitely doesn't help the semis.

The only bright spot in the portfolio was American Eagle Outfitters (AEOS), which is up a beautiful 2% today despite the gloomy market sentiment. Can't win every day.

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