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Thursday 8 August 2013

Stock Market Analysis 8 August 2013

Yesterday, S&P 500 rebounded & closed barely above 1690
Stocks are looking to go back up even higher, targeting 1700 & possibly staying above 1700 today

Tesla shocked investors by reporting a net income of $26.3 million instead of the estimated loss of $18.9 million
Tesla also expected to post profits in the future for the whole 2013
Stocks jumped from 134.23 to 152.9 & may be overbought, not safe to buy because it's overbought & not safe to sell because of surprisingly strong earnings

Groupon slightly beats estimates but stocks jumped from 8.72 to 10.55
Groupon also announced a $300 million buyback program
It might be too high to buy & not safe to sell either

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