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Leigh Baldwin & Co.

112 Albany Street, Cazenovia, NY 13035 | Phone: (315) 655-2964 Toll Free: 1-800-659-8044

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Diamonds and Dogs

9/1/15

The roller coaster ride continues. A majority of stocks are lower today, but the dog of the day goes to retailer, Dollar Tree (DLTR). Dollar Tree is down 7% following disappointing earnings. The company is in the midst of a merger with Family Dollar, but is blaming the shortfall on intense competition from mass retailers such as Wal-Mart Stores. Retail along with healthcare were the two sectors holding up in this correction, but not so much anymore.

Not many stocks in the green. SunEdison (SUNE) is one of the few diamonds up 6% by midday following news another hedge fund/private equity firm is buying into the stock. The first six months of the year were good to SunEdison rising over 50% as hedge fund managers like Leon Cooperman, David Einhorn, and others buy in, but they also got trapped in the stock as it fell 66% in the last month and a half. Today billionaire, Steve Cohen added his name to the shareholder list at SunEdison.  Eventually these guys should be right.

Diamonds and Dogs market commentary is a journal of daily observations on anything that happens to be of interest to our author. Obviously, our primary focus is the stock market and world economic events, but for this page we have no defined topics. We want this page to be dedicated to the interests, concerns, and possibly to the financial gain of our clients and friends. All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.