Kerry, I'm actually going to miss Jon and I honestly do wish him luck (and although at times I'm a sarcastic bastard, I'm actually serious about that one).
Based on past reaction to TK touts MU "free fall" coming. The thing that makes this one so cleverly timed is it's proximity to the MU comments at R&S and the Niles tout. So shorts kinda ended up with a triple whammy Kurlacking.
I'm still here wondering about David Faber. I think he actually may have "broken" the story in the true sense of the word, namely, he got something on his own, through his own sources (not a bunch of traders and/or markets makers who have an obvious interest in seeing MU "in play") and reported it. That's called good reporting in my book. Maybe that's part of the reason the action was so hot yesterday - could it be that that stuff wasn't supposed to come out to the general public that soon, but Faber actually did a really good job (not all CNBC reporters are parrots) in sniffing it out and reporting it? I don't know (I do think the way he kinda furrows his brow whenever he says the Kurlack's name is hilarious; Faber's been "in the game" and he knows b.s. when he sees it)
Kurlack, is also very clever. His last/previous MU tout couldn't even keep MU moving for an entire session. So this time he throws in the "20%" number for all his picks. Same old spiel was getting really tired, so he had to make it sexy.
Maybe he's also a closet technician. Ran back to the spreadsheet and the way I'm running the stochs, looked to me like 5-3 and 9-3 bearish crosses w/ both above 90 on Monday's close. I don't use them (aware of them, but don't use them), but someone whose system relies on them maybe had MU on the sell board (and, I could be running the equations wrong for all I know, but that's what it looked like to me).
Looking for short-term retracement near 53 within 8 sessions. Sent the Hornets airborne on MU late today. A little concerned about AMAT's earnings on Tuesday, but that's what stops are for <g>
Think the SIA came out with the global billings "report" and it showed about a 7% year-year gain from June of last year. To me, a gain of only 7% from such an abysmally bad point a year ago isn't that great. Will hunt in up in the morning and look at the numbers sequentially. Plenty of folks will interpret this as "bullish".
Only a half-hour until "The Real World" and I still haven't done my "rapid dislocation of major joints" practice drill on the inflatable analyst doll for the "MU extreme fighting charity challenge." <g>
Good training,
Tom
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