Winner,
I hardly ever check the charts, but just happened to look at IOMG
on Lombard Intraday for today and some others like MRVC, ZOLT,
HMTT, PRST, PAIR, AMTX, etc.
Everyone of these stocks and others were crashing big time until
just after 1:00, when suddenly all of them reserved at exactly the
same moment and never looked back. PAIR, for example, crashed
from 58 to 46, then reversed to close around 55.
Look to me like an engineered reversals and buy programs by some
really big boys, since they all happened exactly at the same time.
what do you think?
Shorterm, we may see some selloff early tomorow because some people
have made a killing bottom fishing today and want to lock in profits. Those
who bought Pair at near bottom already made 10 points, for examples.
So tomorow 's may not be great unless more good news come out to
help sustain the buying. Hoever, look to me that you are correct in
calling the selling climax.
I watched CNN Financial segment today, and one guess from Merrill Lynch
(he is bullish on the market - called this a correction which has reached
climax) -- said that despite the headlines on a few companies in the tech
sectors missing earnings, 75% of the semiconductor companies (I think he meant
computer/semi sectors, total above 100 so far) reported have posted
positive earning surprises this quarter, with more to come.
And we all thought the world was coming to an end as far as earnings go!!
Young |
