A perma bear waxes poetic :
<<<Well, boys and girls, our retest of April lows may just happen
sooner than expected.
We are not getting much of a rally through earnings, and if
we can't get one over the next couple weeks dudes, we gonna
break down large more than likely.
MSFT warned for next quarter
SUNW warned for next quarter
Earnings are getting WORSE, NOT better!
All the idiots saying you should buy buy buy keep getting proved WRONG
and its a really sad state we are in that there are still
morons dumb enough to buy MSFT going into earnings.
Why?
What did they think, that MSFT was going to say its all OK and
getting better by the day? I just don't get it!
Meanwhile.....
As for friday, well, we should get a nice gap down. We'll play it
if it looks good, but dudes, this is a market that is in trouble.
All we need now is for CSCO to say things are worse and you will
see 1500 in a heartbeat.
The problem is, and SEBL's own CEO said it on Wednesday, prices
are STILL WAY WAY WAY high!
People see EMC at $18s and they think its a bargain.
WHY? Business is bad, these stocks are still trading at way high
multiples.
PMCS said they will miss by 35%!!! Thats after missing this
quarter and warning last quarter.
The list goes on and on and on. BRCM is still trading at over
12 X's REVENUE!
Thats a bargain?
Please, the insanity has to stop and it is and it will get worse.
Unfortunately many will lose EVERYTHING before they realize they
are never going to get their money back - NEVER!
That's right - NEVER!
Anyone who thinks EMC or BRCM or 1000 other techs will ever see
their old highs is just a moron. Not in a million years will it happen.
Sorry, end of story. We wrote MONTHS ago, MANY MANY months ago
that these stocks would only go LOWER, not higher. Our clients
listened, or most did, but everyone else just ignored and said
the market would recover.
Dudes, SUNW is worth $5 a share, thats all. If you think its
a deal at $14.50 you're an idiot.
Trade higher? Sure, we can bounce, but long term?
You gotta be real, dudes.
Let's TRADE 'EM,not Marry 'em!
Its the only way to make the Ka-chingos!!
We get a gap down, we trade it and we see what shakes. We still
have 3 weeks of earnings, and more danger ahead!
Perhaps the market will decide bad news is priced in. We have
been calling for a rally, but with MSFT now in the fold to miss
for next quarter we certainly don't look like we want to go
very far.
We need good news from CSCO to get a nice move here that lasts
for more than a heartbeat. If not, then we may be in for a very
long summer. Things will not really turn around until
there are real earnings reversals. So far we are just not seeing them.
Lets see what shakes, we make money either way.>>>>
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and you know how he ended it ! ;-) |
