Pete:
IBM's run-up today was a classic. It also dragged the rest of the market along with it as the momentum boys jumped aboard. The numbers were, how shall I say it politely, ......less than supportive of the enthusiasm, (heh,heh,heh). I posted a few comments on the IBM thread.
Tomorrow will likely see a number of barn doors being swiftly swung shut by the analytical crew. IBM's numbers, (and more importantly IBM downgrades) on top of the sloppy earnings posted to date in the tech sector, should provide the market with a bit of grease for the skidway. Given the numbers and previews that have poured out of the hard drive arena, it's amazing that so many have remained bullish. .
The drugs will have their day in the sun, but will probably have to wait their turn. The PC/semi sector is monopolizing the plane's exit door, (unfortunately sans parachute) at the moment (g)
Best, Earlie |
