I'm a subscriber to Michael Murphy's newsletter and he is pretty gloomy over the remainder of the summer. Feels Soft will report weak numbers either because sales are really slowing or as a strategic accounting ploy re DOJ. He is troubled by the problems in enterprise software - BMCS, CA, HDC, Neon Systems -- and sees this as a precursor to slowdowns in other areas of tech.
Quite frankly, after next week, there is not much to keep the markets moving forward, IMO. Earnings will be winding down and the CPI numbers today and the retail revisions last Friday seem to have brought the Fed back in the picture..so the Uncle Al nervousness may be revisited. Last year the markets soured right after MSFT reported.
I've got dry powder and will look to buy some good stocks (AMCC, more AVX, Corning, NTAP, BRCD, etc) if we get a robust sellof. |
