Richard (and all),
If Intel won't pay off in chips, at least I know they will pay off in dips (in stock price, at least today).
Seriously, it's a scary market out there. I posted a while back that I thought there would be a big reaction to stocks that disapointed with 2nd qtr. earnings. I didn't realize it would affect the entire market.
I'm not a trader, I'm long term. BUT, took a look at things this morning, called my broker and sold EVERYTHING, with the exception of Intel. Will dollar cost average back into the mutual funds over the next 4 months, make other decisions concerning individual stocks as time goes on.
Reasons?: Mutual fund inflows down over 35%; Interest rate trends up; Corporate earning trends look down; A million Yuppies ready to panic to protect their profits. I want to be the first Yuppy to panic.
On the other side of the coin, companies like Dell are saying demand for PC's is holding up well. Intel has been very good at managing expectations, earnings that are at or slightly ahead of estimate, in this environment, should be rewarded.
A question on another subject: MSFT sells A LOT of Apple software, could Apples misfortune impact Microsoft's 2nd Qrt earnings?
Be VERY carefull out there,
John |
