Wall Street to Main Street: News, Views and Commentary: June 8, 2006
It’s Thursday June 8, 2006, and the downward trend continues, as we are over the hump of the trading week and the Dow and Nasdaq are still seeing red. But before we head into the Censored News world of stocks lets stop on the political front.
President Bush said on Wednesday that all immigrants must learn English, this is a new proposal that he is pushing and looks to gain passage during this midterm election year, but he will have a long road ahead of him as he not only has to win over the Democrats but also members of his own party.
There was a surprise guest on Capitol Hill and that was the founder of Google (NASDAQ: GOOG) Sergey Brin. This trip was an important one as for the first time the company has admitted to compromising their principles when they agreed to censor the Chinese version of Google. He stated that they reluctantly agreed to the censorship once the Chinese Government blocked Google’s Chinese version site.
As we are in the heat of midterm elections the topic of gay marriage has popped up again, but is it just at the wrong time. The Senate rejected a gay marriage ban stating that both President Bush and the GOP’s lobbying for this passage was out of line. But because this is midterm election time you can expect this to topic to come back to life next month with more fuel on the fire than before.
Now, I’m going to say it again, as an investor you should not, better yet cannot get emotional. Stocks trade up, stocks trade down, and that is the nature of the stock market. It’s your job to do the homework that will put you on the right side of the movement. We will continue to lay out some ideas and our outlook, we’ll give you some insight into the company and its current situation but you still need to do your homework to insure that it is right for you. We want our readers/listeners to be well informed so that you can make informed decisions and not foolish trading mistakes.
So do not trade with emotion, use your head and focus on the game plan, now lets move on to some stocks that you will want to keep an eye on.
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Movers and Shakers
Some major movers in yesterdays trading session include Intuitive Surgical (NASDAQ: ISRG) which was knocked down from $116.35 to $107.70 on Tuesday but regained those loses to trade up $4.95 to close at $113.01 on Wednesday. This is the exact reason why it is crucial that you seek out companies that are being dragged down by the market , those companies that have not changed fundamentally.
U.S. Xpress Enterprises (NASDAQ: XPRSA), one of our “Furious Five” features, traded up $1.34 to close at $23.34. As we mentioned recently trucking, rail and transport in general will continue to grow, especially those companies that transport construction material. We mentioned TMM SPA (NYSE: TMM) a Mexico play yesterday and U.S. Xpress is one that will benefit here in the USA.
Target (NYSE: TGT) made some noise on Wednesday after an upgrade by Lazard Capital Markets. The company expects high gross margins in 2006 and basically the quality retail companies are beginning to shine, just look at Sears Holdings (NASDAQ: SHLD).