Well, was at woik again when all the carnage took place, but still made some money by shorting for the first couple minutes. My take on today and from what I heard others saying... not time to go long quite yet. Plus the end of day sell off should point to lower prices at the open. I heard that EXTR might warn tomorrow, but I don't want to start any false rumors... don't know if that would come out pre or post market. I'm suprised by the tenacity of NVDA in light of Dell and IBM and HWP and GTW all saying slowwwwness in the PC arena, but I'm hammering that one on any bounces. It's gotta warn one of these days, but it doesn't have earnings until 5/16. Banks and brokerages have begun to get hit. I would expect a bounce in banks with the interest rate drop, but I will probably start shorting them at that point. Let's see what the retailers can throw at the party tomorrow (or is that the next day?) KEI warned and I looked at the technical inst. sector. WEAKNESS! Go figure! Those worth looking at ANEN, VARI, MDCC, ZIGO, ILMN. I know, many have fallen quite a bit, but those all still looked weak to me. I haven't done the homework as to who is the weakest or in cash-trouble. Just looking at TA on their charts.
One last word, to keep everyone on their toes... this is the kind of stuff the Fed loves. Now they can come in and "save the day." Just beware of possible surprise moves by the fed to try and turn the market around -- a surprise 25 basis points here or 75 basis points at the next meeting might just be what the Greenspan orders! Again, I know they have seen numbers that show the economy isn't supposedly all that bad, but c'mon!!! Besides, Al told us he would hold our hands and not allow us to be destroyed, didn't he? Oh, who knows, maybe that was just more of the voices in my head. LOL
Good luck tomorrow. I'll be around tomorrow... no woik until after market! yippeee. |
