Right now I am primarily cash because I can not figure out what is going on.
AMCC rises on bad news.
JDSU initilally rises on bad news then sinks.
CREE falls on bad news.
XNLX says inventory is at enormous levels, cuts targets immensely and stock rises. I do not get it.
I guess bad news is bad news unless it is good news.
These last three days smack 100% of distribution to me.
I went to ask Zeev his opinion, but I did not have to. He already posted the same thing.
So far we have seen 3 consecutive days of futures ramp ups, and that was 100% of the entire up move 3 days in a row.
Suspicious at all to you?
Today YHOO was halted, for hours, why?
They do not want to spook the markets while distribution is happening?
Yesterday BRCM reports bad news in the middle of the night, and this morning when futures are down they suddenly reverse when Abbey Conhead comes out with yet another "buy" recommendation.
Now, as it turns out there were two IPOs this week, from ML and GS. Hmmmmm could that be the reason for the Abbey Buy signal? Perhaps I am just too cynical but this all seems suspicious to me.
They "rallied" CSCO exactly to max pain today, and CIEN within 2 points. Plenty of chances to hedge if that was their concern. I did a post earlier that said that now they might knock these down, (after having established short positions today), only to rally them back up at expiry, after unloading those shorts at the bottom of course. Nothing like making money both directions (twice) and still having options expire worthless.
Look at that "rally" on futures ramp of MU and AMAT. Both now selling off, especially MU. Take a look at COLT, here is a little darling that reports a huge loss and they rallied it 10 points on the news. (I bought PUTs iommediately and fortunately cashed the out). Now, today on 400!!!*&%&*^%&^% yes 400 premarket shares cause I was watching them gap this sucker up almost 4 points. Of course they unload a ton (relatively as COLT is very very thinly traded issue) on slight pullbacks of that gap up (to complete idiots I might add).
Then again, maybe I am insane.
If I was extremely confident of what I was saying I would not have gotten shaken out of my CIEN PUTs today (for flat).
However, for all I know, they gap us up again tomorrow for more of the same.
I already talked about ANGELL and those manipulations. Now we see that the brokerage house for which he works has warned. Was he trying desparately to protect his clients?
Quite honestly, who wants to hold anything overnight, long or short. That is what these idiots do not understand with all this manipulation. If they drive everyone away, when will they come back?
After options expiry, I plan to go nuclear short on the DOW.
Look at FD for example, and look how they are "walkin" it up. PLease take a look at the earnings of FD. Is KO a value play at a PE of 60? I do not get it.
1) I think the naz is overvalued
2) I think the DOW is in as big a bubble if not bigger that the Naz was at 5000.
At least the NAZ has a chance for growth to pick up after the recession (I think we get one this year or next, Zeev says next year I believe). Will Kohls EVER be worth a PE of 70. Coke a PE of 60 (on 5% growth). It seems to me as if no one has learned their lessons, chasing stuff on the basis of "good charts". Then the next thing you know, you see a gap down of 20 points. That day of reckoning is coming for the DOW as well IMHO.
Does any of this make any sense?
M |
