Tape Delay

 | Aug 04, 2014 | 3:37 PM EDT
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Some totally weird delayed reactions going on today. For example, Clorox (CLX) announced very disappointing quarterly results last week, but the stock went up. Today we have a total "upon further review" recognition that it truly was dreadful. Boy! That company needs to do something to get some growth, and I don't know if management knows what to do.

Second? Tesla (TSLA). When it reversed that was the signal that the love affair is on. So why didn't it go up more? I don't know, but the buyers are back in a big way.

Third, it looks like people have figured out that PepsiCo (PEP) was the only really good consumer packaged goods story, and they are going back to it.

Fourth, oil has been down day after day, and yet finally, it is impacting retail positively. Funny that it happens on the same day that Michael Kors (KORS) blows up.

Now some of the moves out there seem very dead-cat. For instance, the ExxonMobil (XOM) quarter was terrible, but it went down really hard. So, a bounce seems reasonable. Cummins (CMI) finally goes higher after a one-way decline. Now can United Technologies (UTX) or Boeing (BA) break the spiral?

Oh, and did anyone think that Disney's (DIS) new movie wouldn't be huge?

Yeah, some real weird action today. Hard to understand. Got to leave it at that.

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volatility is quite low here, and we could see some downsides here in the short term. ...



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