BTW, what is really funny though is that everyone is treating this as INTC specific. :-)
Monty, i am as confused as ever--the company that sells 85% of the chips inside computers stumbles this badly & hardly anyone is concerned for the entire tech sector. friday MAY prove to be the most massive episode of denial ever witnessed. in the past few years, in 9 of 10 cases, the naz would have been down 200 on news like this. EVERYTHING tech related--software, storage, telcom infra--would be down--whether it made sense or not. Friday morning Kumar (with unbeatable intc track record) scoffs at the notion that "weak europe sales" cause a rev downturn of this magnitude. I view market reaction as humongous contrarian indicator...head in sand. Understand--i am as bullish as they come with 100% in tech. Bearish to me is being out of margin. I sold 1/2 of all positions in my 401(k) fri afternoon. Am waiting for next tech warning--it will be bloody. i own jdsu, amcc, sdli, qcom, brcm, brcd, glw, extr---posters are telling me these have nothing to do with intc. Again, IN THE PAST these stocks have tanked when an intc or msft or dell have warned. oh yeah, slick willie's oil band aid & the euro bailout make it all okay--right. puzzled...to say the least. |
