a stable couple days without much lift recovery will force margin called investors to cut and run, dont expect much strong quick recovering here, margin call selling will continue until monday, i dont think tech stocks will move much until end of this week and next week, mostly next week, i rather see mild gradual recovery than big 180 point NSDQ run today that would be met with selling, a mild couple days will lead to more healthy movesup
AMD good news turned out not to hurt Intel, so far this quarter, in gneral this quarter is seeing earnings reported as 6.8% above expected, could be unprecendented, leading sector for expected growth this year is technology at 26% with no close second
Peter Canello of Morgan said look for price and time to heal the tech overvaluation, keeping clinets in leading tech names with bigcaps, expecting more pain in second tier names
one way to headfake is to sell NSDQ via QQQ thus cuting a rally, continue to short it (even on downticks), and at same time MMs pull buy orders, this all takes a plus NSDQ down to negatives, easily fixed with QQQ short covering and reinstating of buy orders
aek |
