they have been ignoring bad news since monday...repeatable or not , it's just the fact that they didn't report a miss and they have been bouncing everything in spite of shakey
econ numbers .
It's the earning's game , and shorts have been covering all week with the rhetoric that October lows can historically signal maket bottoms , it's another bear market rally , with a twist , so let them bid them up and bid them up with them .
The thing that impressed with was the way they rallied the market so fiercely on tuesday on Citi's magic trick , that energy and inertia was the key to trading on a "buy the dip" mode this week . Mine is not to reason why , you must trade what you see , and I see they have been rewardng anything that comes in remotely better than expected .
So why fight it so soon ? Buy the baskets , trade them up take the profits and have those profits ready to reshort .
Not for poor SEBL and BRCM and some other POS's , they are happy to throw the shorts some bones for now ;-)but if they bid those back up tomorrow , then what does that tell you?
We'll see.
Some tops will be put in on the semi's tomorrow as they prolly will have thrown enough money at them ...but funny how some semi's bid up more even after hours on the B2B?
Where are all those semi' downgraders now ?
Got any faves for tomorrow? MSFT just had to be bought ahead of earns from last week though , that's just how they play the game . |
