Larry, I'm more "on flu medication" than "on alert", but...
FA-discounting angle:
I'm guessing part of the thinking on the bullish side is "Fine. Things may suck for the next quarter, or two or three, but the cap. spending cutbacks by the Asian players will eventually translate into higher gross margins for these guys sometime in the second half."
IMHO, less of a slam-dunker than it seems (because once the "discounting effect" stops, the "dead money effect" starts <g>), but maybe part of the thinking is "how bad can it get?"
Conspiracy analysis angle:
Someone wants to sell some of the 30, 32.5 calls <g>
Which makes me want to take a look at the puts midway through next week.
And what's up with the poor man's Dan Dorfman, Gene Marcial, giving TXN yet another tout in his BW column?
Mr. Marcial - face it: you are nothing more than the Liz Smith of the U.S equity markets. In my book, you are not a financial journalist. You are a marketing/circulation tool.
Good trading,
Tom |
