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This Quarter's Sentiment:
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From the Blogosphere
Notable Analyst Rating Changes 8/27: GHL, DLTR, WHR, KNX, WAG, FWLT Upgraded; ATRO, JTX, SIGM, TREE Downgraded
UPGRADES:Goldman upgrades shares of Greenhill & Co. (NYSE: GHL) from Sell to Neutral, also boosting its price target from $65 to $75.Barclays upgrades Dollar Tree (Nasdaq: DLTR) from Equalweight to Overweight. Price target increased from $48 to $64. Wedbush Morgan also upgraded the stock from Underperform to Neutral. Cowen & Co upgrades Whirlpool (NYSE: WHR) from Neutral to Outperform. UBS upgrades Knight Transportation (NYSE: KNX) from Sell to Neutral.Raymond James upgrades Walgreen (NYSE: WAG) from Market Perform to Outperform. Sterne Agee upgrades Foster Wheeler (Nasdaq: FWLT) from Hold ...
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Bookkeeping: Closing Last of Greenhill & Co (GHL)
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We don't have much left of Greenhill & Co (GHL), a smaller boutique type of investment firm - only about a 0.25% exposure. I am going to boot the last piece a few dollars higher than our cost basis and call it a day here (cost was just over $74). I like the company but today the stock is down 6% as management dumped 3M shares on us. This money was not for any operations, it simply was a way for executives to exit and dilute shareholders. Par for the course for American capitalism but no need to take the shower on it as a shareholder.
<><>Investment bank Greenhill & Co. said Thursday it priced...
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Bookkeeping: Covered Index Shorts around 3:30 - 3:45 PM
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I took off 99% of the index shorts I put on late yesterday [May 20, 2009: Bookkeeping - Cutting Greenhill & Co (GHL) and Adding to Short Exposure] - these helped us weather the selloff today in flattish condition. If you really follow the market closely you can see a lot of shenanigans happening in the last 30 minutes of the day ... I can't ever recall a time seeing the S&P jump in 3-4 point increments so often as I have for the past 6 months. Where these huge surges come from is beyond me (ok, it's not beyond me, I have my suspicions but let me come down from the grassy knoll) Last fall...
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Bookkeeping: Cutting Back Greenhill & Co (GHL) and Adding to Short Exposure
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I am cutting back Greenhill & Co (GHL) as I don't like how this chart smells, I'd like to see this name regain the 50 day moving average. For now its back below a 1% exposure.
 If we close red today it will be a reversal day; we've had a few of these and the market has shrugged them off and just raced to green the next day or two. Normally they are bearish but nothing is normal nowadays. I am increasing my insurance to the downside... of course futures will be up tomorrow morning as they are 8 out of 10 days. Because as we know, the market hours are not long enough and "someone" is always...
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Earnings of Note Monday-Tuesday
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Some names I am looking at early this week
Monday
Fund holdings - Baidu.com (BIDU) and First National Financial (FNF). The former broke through the 200 day moving average Thursday but I cut it down to 1 share on super froth. The latter has been stagnat the past 8 days, with each day an intraday low hitting the 50 day moving average. Very strange. I cut back a bit to a 2.5% stake since I have double jeopardy in these guys with FNF and FAF. I expect good things but the stock action has been weak"ish" and this is the more expensive of the two - not that it matters because nowadays all secto...
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