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Monday, August 4, 2008

Potash ( POT ) Stock Alert - Breaking down 8/04/08

Potash is testing that $190 level again after topping out a month ago in the $240's. If Potash closes below this level....look out below! Check out my Technical Analysis of Potash!

Six Flags ( SIX ) stock up in Pre Market Trading

This morning Six Flags ( SIX ) has released earnings which appear to be better then expected. SIX is soaring up 26% to $1.41 in pre market action

Second Quarter Adjusted EBITDA Increases 52% to $87.6 million
- Six Month Revenues Up 5%; Operating Costs and Expenses down 5%
- Six Month Adjusted EBITDA Improves by $45.4 million

Total revenues of $345.7 million increased 1% over the prior-year quarter, while total attendance declined 3% to 8.6 million, reflecting the timing of Easter, which was in the first quarter of 2008 versus the second quarter of 2007. On a year-to-date basis, attendance through June 30, 2008 was unchanged at 10.1 million.

Revenue growth for the second quarter reflected growth in sponsorship, licensing and other fees, which increased $5.2 million over the prior-year period to $14.5 million. This growth, combined with the increased guest spending, resulted in a 3% increase in total revenue per capita to $40.02 in the current quarter from $38.72 in the second quarter of 2007.

Increases in per capita guest spending, which grew $0.67 to $38.34, a 2% increase over the per capita guest spending of $37.67 for the second quarter of 2007, reflected higher food and beverage, rentals, admissions, parking and retail revenues.

Meredith Whitney on CNBC 8/04/08 ( C ) ( WB )

This morning Meredith Whitney was on CNBC talking about the credit crisis and the banks. She says that we are a little over half way out of this mess and that the banks stocks which are up 70-80% off there lows should go back and retest. She makes a point that the consumer will be even more dampened in the months and year to come as credit card lines will tighten even more.

Those of you that don't know about Meredith Whitney, she was one of the first to call the Citigroup downturn when everyone was laughing at her. A few months ago she downgraded Wachovia Bank ( WB ). Meredith still thinks that Citigroup must cut their dividend because they are raising so much capital....why would they pay out to investors when they are raising capital? It doesn't make sense.

Meredith Whitney does not think the worst is over. She will be on the cover of Forbes Magazine either this month or next...

Pre Market Stock Action 8-04-08 ELN

This morning we don't really have anything exciting going on.....the markets are down slightly.

The only mover I see so far is Elan ELN which is up 5% which I think is a dead cat bounce.

Economic Data is just out......personal income up .10%...personal spending up .60%...not bad at all.

Tomorrow there is a Fed Meeting followed by a Fed Decision..... It is a busy Earnings week once again!