Apple Crushes Earnings and Embarrasses the Pro Analysts
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***** Candy-coated Apple (AAPL)

***** Oil touches $80
***** Ocean Power Technologies (OTT) giving back 10%
***** Boarding-pass to China

Fellow Investor,

It should come as no surprise that Apple (Nasdaq:AAPL) hit it out of the park yesterday afternoon.  The company crushed earnings estimates by a wide margin.  Clearly there are some things that consumers will spend money on, like iPhones and iPhone apps.

It seems more than ironic that in today’s weekly newsletter to subscribers of my advisory service, SmallCapInvestorPRO, I wrote about a Chinese mobile phone company that just announced a new app for its device.  That stock is up 30% since I bought shares on September 30th.  I wish I could just tell you the company’s, name but I’m afraid you’ll have to join to find out.

In that newsletter, I review a few of my recent recommendations and the results from my latest Special Report. Every stock from The 10 Most Profitable Small Caps for 2010 is showing a gain, as much as 20.99%. You can sign up for this newsletter and view the entire portfolio, along with video chart analysis, and all special reports by clicking HERE.

Ok, enough salesmanship for now…

Oil briefly touched $80 a barrel last night. It appears as though the black gold may be reaching for the bottom its next trading range. This may seem a bit counter-intuitive as recent data is showing that inventories continue to rise. But demand will also rise at some point and these reserves will be depleted.

Last week, I said I expected the Dow Industrials to hit 10,500 and the Russell 2000 to hit 665 this year. Of course, we need to get past the psychologically significant Dow 10,000 level first, even though there’s nothing really magical about it. And it looks as though investors realize this. The Dow barely blinked at 10K. 

For its part, the Russell is dropping a bit today, down 1.5%.  It’s giving back all of its gains from yesterday, and then some.  This doesn’t concern me however. Nothing should go up in a straight line. 

Rather than talk about top percentage gainers in the small-cap universe today, I’m going to highlight a few losers.  And top on the list is Conn’s, Inc (Nasdaq:CONN), down 30%.  The consumer electronics retailer said poor consumer spending and increasing delinquencies will likely mean a loss in Q3, and it is temporarily suspending earnings guidance.  Come on guys.

I mentioned Ocean Power Technologies (Nasdaq:OPTT) a while back.  The stock has rallied 60% in the last week and is now giving back 12%.  I still think this company, which makes buoy’s that harness wave power and convert it into energy, has one of the neatest concepts for renewable energy yet. But neat doesn’t always translate into a viable commercial enterprise. We’ll see how this one pans out.

Until tomorrow,

Ian Wyatt


Posted 10-20-2009 3:04 PM by Ian Wyatt
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