I agree with you, XCIT is a short right now, at least to $31. Earnings kept it from faltering Friday, but that's spent now. Microsoft will enter the search engine market offically cranking out the press tomorrow. Rational or not, people don't like to see Microsoft decide to compete against a company. I say "rational or not" because Microsoft seems to have more trouble bullying internet related companies than other software companies (i.e. MSN failed to damage AOL).
People considering holding SOCR over earnings are real gamblers. I say if anything is that uncertain, you stay out. In the long run, you cant survive exposing yourself to that kind of risk - even if SOCR ends up doing okay (which right now I doubt). Keep in mind that meeting estimates isn't enough, and sometimes beating them isn't enough.
CREAF releases earnings on the 21st, watch it for upward movement and jump on early if it comes. Sell before earnings, naturally.
AVID same deal on the 23rd, watch it on the 21st & 22nd.
CORR was an excellent short for me on Friday, probably good for a little while longer.
WFMI is a possible short.
Of course, if IBM & Microsoft are weak, the whole tech sector is one big fat short.
I went 100% short Thursday, if it isn't obvious. Expect rebound soon, though, and will quickly shift gears. |
