Down Down Down
Oil falls (73.54) for the second day! Not really big drops just enough to talk about to the people to feel good. Usually a cents compared to the dollar gains, but today it fell 1.76 today. With this good news we get the bad news as the second Atlantic tropical storm is forming. Hmmmm I wonder where this is going 80 or 90 per barrel of oil.
Yahoo’s profit has fell (13% in after hours trading to 27.27) so this may keep investors wondering and with this I want to talk about a question I get. Why do companies outsource? Well this is simply answered by this question. Why do you as a investor want higher and higher profits? I think if a company knew they would supported by investors they would not outsource, but instead stay where they are and keep building and keep bringing in jobs.
On the upside IBM had a nice earnings report.
Internet betting took away hours a day as we would play blackjack or poker has seemed to hit a bump in the road as the USA is making arrests (BETonSPORTS) and shutting down what they consider illegal, so look for these gaming companies to loose interest with investors.
Much of the markets were green across the board, Dow up 51.87, NASDAQ 5.50, S&P 500 2.37.