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Dr. Kris
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Dr. Kris hails from the land o' lakes, beer, bratwurst, and Bucky Badger. She traded in her cheese hat for a propeller beanie and has never looked back. She has two degrees from MIT because one just wasn't enough. Her life goal was to figure out the universe and having done that (at least to her... More
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  • Intraday Market Notes -- August 2 0 comments
    Aug 2, 2012 3:01 PM | about stocks: LNKD, FB, ZNGA

    2:00 pm ET: Well, as predicted yesterday, the Fed did nothing which dashed investor "hopium" sending the market lower. The slide continued into today's trading as ECB head Mario Draghi added to the nothingness by not providing any clear picture of how the European central bank plans to save the euro. Honestly, this has been his modus operandi since Day 1 and it stumps as to why anyone should think otherwise.

    Anyway, today's Trin has entered contrarian territory (over 2) meaning that a reversal could be in the cards. Today's drop is bringing the S&P 500 (SPX) within an inch (that's a technical term) of entering the Sell zone. A disappointing jobs report tomorrow could easily push it into the Sell side--there's still some time to buy protection!

    Trade Note: Social networking under scrutiny
    Business networking site LinkedIn (NYSE:LNKD) will be reporting earnings today after the bell. This highly anticipated report will be closely scrutinized for clues as to the future revenue prospects not only of the company but also of other social networking based businesses such as Facebook (NASDAQ:FB) and Zynga (NASDAQ:ZNGA).

    LinkedIn stock has been range bound for the past several months, and today it broke its lower channel bound at $95. Should its earnings numbers and conference call disappoint investors, the stock could easily break its $90 major resistance level, making it a viable short candidate (for all you bears out there). A drop in ad revenues or a significant slowing in subscriber growth could not only spell trouble for LinkedIn but also for others with similar business models (i.e. Facebook).

    Stocks: LNKD, FB, ZNGA
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