TM, You still howling at the moon!
Discounting in retail in Jan seemed to spook the market today. Think it has anything to do with Monkey Wards going out of business sale?
Yup, had my entry point set a little too tight and got left in the bay. Just collected a little interest, but didn't lose a penny. Frankly, I thought that with the down grade of MSFT and the index funds having to reposition their CSCO assets, the market did very well today.
Hopefully, the corporate IR departments have learned something in this earnings season. This new SEC reg FD (I think) is causing some implementation problems. The corporate garbage of "visability is poor" just ain't going to cut it. The real problem for Mr. Market is going to come in mid to late March when the warnings for this quarter start coming and the ANAL-ysts attack. Going to get nasty.
We also got this "the sky is falling" syndrome in effect. The jockeying about the tax cut is not going to help. Just reminds me too much of the prior administration actions in late 1998 when Rubin, AG, and Clinton were running around saying the sky is falling. They got the WB bailout, an hour later AG cut rates, and all was well in the world.
You are probably just as well being in cash, but I believe we can play the Q's from around here to about $62.50.
Let's see, CSCO has a 55% increase in revenue and brokerage firms line up to sell. Where the hell were they at $80?
Just a View from the Swamp.
TB |
