Tuesday, October 09, 2007

Rally In Google Helping Bullish Sentiment

My alarm goes off everyday at 5am, and despite doing so for the last 15 years, I still hate getting out of bed. So today I decided to celebrate my own birthday by sleeping until 7am. Wow, almost like being back in college, huh?

I also want to give a big shout-out to my beloved Indians who took care of the Yankees last night to win the ALDS. Next up, the Red Sox. Bring it.

The market is up slighly in early trading. YUM beat consensus estimates this morning and raised its outlook. The stock gapped higher at the open.

Google (GOOG) is rallying again, topping $620 this morning, and analysts are now starting to raise their price targets. Better late than never. BofA raised its price target to $670. My price target is $700.

MSFT is also nicely higher this morning after Goldman Sachs (GS) raised its earnings estimates for 2008-2010 on the positive outlook for Halo3 and aQuantive business.

Asian markets were up strongly overnight, led by India which soared. Bond yields are steady this morning (the bond market was closed yesterday). And oil is back above $80, which is pushing all of the energy stocks higher.