Weekly Outlook, 5-22
I finished my research on Guess? Inc. [GES] this week, but I also got a concussion, thus I should have a report out by the end of this week. Meanwhile Guess was down sharply this week, and specifically Friday. This was due to a weaker outlook and worry about higher input costs from Gap. This will impact Guess only marginally, and I think represents a buying opportunity. For a full thesis on Guess, wait a week or so and I will put up a link. NRG was up again this week, albeit on low volume. I'm holding for the long-term. Astrazeneca was down a little bit this week in a possible top formation that would need confirmation by a strong pullback next week. Otherwise, this is needed consolidation. Eli Lilly was down this week, and may or may not be able to sustain levels above $37. Overall the market was down this week and seems to be direction-less going forward. This seems to represent consolidation on a monthly basis.
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