Stocks caught a big today with tech having a bit of an edge.
The big news came out after the bell as Goldman announced that Twitter would be priced somewhere between 17 and 20 dollars per share.
Also after the bell Amazon announced some slightly better than expected earnings and sales numbers.
Microsoft beat revenue as well. So after the bell tech is rising. The SP 500 caught a bit of a bid, but the Banks were hit with fresh news of a DOJ probe into the Mortgage Backed Securities activity, so that held back the SP a bit.
I will be watching the Twitter IPO very carefully and looking for an opportunity to get on the shorter side of equities sometime after that if I see things forming in that direction. Goldman is going to make a major effort to get Twitter out well, and avoid the travesty that was the Facebook IPO.
And in a thin market, barring some unforeseen event, it is not hard to move the markets where you wish, especially if quite a few wiseguys are incented to go with the flow.
Have a pleasant evening.
