Well we finally got what I expected. A NASD 100 stock warning and guess what sector, the CHIPs, and guess what stock, INTC!! I have been short the QQQ since we hit 4200 about 3 weeks ago. I still feel the institutions knew about INTC and the slow down or PEAK in the chip stocks. I noticed many institutions were net sellers all August in the chip stocks as the retail investor took the NASD back up.
I firmly believe we live in a market place where its the INSTITUTIONS vs. The RETAIL investor. I think its sad because again it will be the little guy who gets SCREWED over the next several months!!
For the record I covered all my DRILLER's that I shorted a while back. I got much more of a pull back then I actually expected. But to all who follow the OSX, I went long in several stocks today based on the feeling as NASD sells off money will flow into the EARNINGS GROWTH area. DRILLERS are actually going to have the most year over year earnings growth going forward. Also Clinton will not tap into the Strategic Reserves, so oil and the drillers should bounce after this 12-16% correction. ( HAL, DO, GLM, RIG, NE, ESV, RDC my favorites)
Still short LFMN, and recently in HYBR. Long WDC, RDRT, IOM
Its still my professional opinion INTC will not be the last NASD 100 stock to warn!!
Good luck ALL!!! |
