The market staged a fairly nasty reversal today, accompanied by rising volume. The
COMP rose to a new high early, then reversed to close below Friday's low, marking another outside day.
Breadth was negative on both exchanges, with decliners outpacing advancers. But the Hi/Lo index expanded for both the NYSE and Nasdaq. Go figure. Biotechs were notably weak today, as well as most retailers. Most other sectors were mixed. The small-cap index (
IWM) also reversed lower today. Since this has been the leading sector, it could imply that more of a correction is in order.
Of course, every small dip this year has simply been a bear trap and immediately led to a rebound in the markets. But often, as soon as a trend like that becomes evident, it is ready to reverse itself.
Oil finished around $66.50, and the
10-yr. yield closed off its high levels aroun
LookSmart, Look For A Viable Business (LOOK) at 2006-04-04 01:40:32 
Douglas McIntyre submits: LookSmart (NASD:LOOK), the search engine company, has made a big move this year from $2.75 to $5.50. It’s hard to figure out why.
LookSmart’s revenue has dropped every year for the past three years, and its quarterly numbers for 2005 didn’t move much. The first quarter revenue was slightly above $12 million and Q4 05 was just below $10 million. The company showed an operating loss in excess of $4 million in each quarter of the year.
LookSmart guided to a meager 3% to 5% sequential growth for Q1 06.
LookSmart is no longer just in search per se. They have 181 search sites in 18 vertical categories. In addition, they supply tools that, in their wor
The Long Case for Online Jewelry Retailer Blue Nile (NILE) at 2006-04-04 01:40:31 
Citigroup analyst Mark Mahaney initiated coverage on Blue Nile (NILE) March 29th with a “Buy” rating. His report is a gem (ahem). Here’s the summary of his Blue Nile investment thesis, also relevant to investors in online retailers Overstock.com Inc. (OSTK) and Amazon.com Inc. (AMZN), and multi-channel competitors Zale Corporation (ZLC) and Tiffany & Co. (TIF):
INVESTMENT THESIS
We are initiating on NILE with a Buy rating and a $41 price target. We highlight several key positives and
Conde Nast Goes For The Knot (KNOT)
at 2006-04-04 01:40:31
Douglas McIntyre submits: Today’s New York Times says that publishing giant Conde Nast is beefing up its online bridal presence. Conde Nast owns the largest bridal magazines. Part of the reason given was the success of The Knot Inc. (NASD:KNOT), a stock we wrote about last week and felt was trading too high due to competitive risks.
Conde Naste’s entry into this business is likely to make The Knot’s life a lot more difficult.
Douglas A. McIntyre is the former Editor-in-Chief and Publisher of Financial World Magazine. He was also president of
