Portfolio down 3.47%, Nasdaq down a hard 5.59%, Dow down 1.60%, S&P 500 down 2.06%, Gilder down 6.5%, Meisler down 7.4%.
NYSE Volume: 977 mln...Adv: 886...Dec: 2094
Nasdaq Volume: 1.57 bln...Adv: 912...Dec: 3259
Tech bellwhethers are leading it downward as strength is met with selling.
MOT down 16.99% on SSB downgrade due to concern of GSB contract losses. Should have just been quiet. Almost as if analyst are causing the PE compression in the sector.
Some green today with RFMD, MDT, SUN, NVTSY, EK, CCMP, ad EPG.
EPG up 4.23% to a new 52wkHI. Further proof that the trend is the friend. AMAT just met earnings so semi took double digit hits today. AYST, MTSN, MOT, LSI, were double digit losers. EMLX dropped 10.53%.
So much money sitting on the sidelines. Will break the weak longs. Many will sell out at the bottom.
Some tech thoughts. Now price is right, but the feet are cold.
JDSU @ $80. Was thinking $78 for a target buy price.
GLW at $172. Want $120.
CMGI At $53. Want at $50. Was the Fool's pick for the bi-monthly Internet Report today.
SDLI - $157. Want it for $120
PMCS - $139. Target buy at $120
AMAT - $84. Target at $83
BRCM - $145. Target $120
SUNW - $77. Target was $77.
QCOM - $97. Target $50.
The QQQ dropped below it 200 day EMA. Nearly touching the April's lows. Not good. MACD is negative, another bearish indicator. Maybe best to stay out of the tech buying until the market shows some strength. Will learn from the falling knive lesson of March.
Jack |
