Interesting comments by Ralph Acampora on tonight's Nightly Business Report - a snippet;
<< RALPH ACAMPORA, TECHNICAL RESEARCH DIR., PRUDENTIAL SECURITIES: Well,
you say relative ease. You know, the Dow has actually been above 9,600 for over a year and
a half. And a couple of weeks ago when it broke that, that was like breaking the damn a
little bit. So you're getting this sell-off. It's almost like a game of catch-up for the blue chip
Dow type stocks. And unfortunately the NASDAQ, along with the SOX Index,
Semiconductor Index, still looks a little weaker.
GHARIB: We have seen stocks now like Cisco (CSCO), it's at $13, Intel (INTC) at $22,
these were the bellwethers of technology. Have technology stocks hit bottom now?
ACMAPORA: Intel, no, for sure, because today it made another new 52 week low and I
unfortunately think it's going to go a lot lower. Cisco, I would love to say it's probing for a
bottom. I think somewhere around the $10 or $13 area I suspect it will find home. But I think
Intel has more to go. >>
Complete transcript can be found here; nightlybusiness.org
HTH,
JohnD |
