You're right scba, CNBC is strictly a news reporting service and pretty much works day to day, concentrating on the particular days events, and overworking them. If you tuned in yesterday after the bell it was unbelievable. They had 2-3 bearish analysts, who must have been waiting in a closet for months to come out only on 200+ down Dow days. Here they were painting this doom and gloom picture for the market and declaring that we are in the start of a Bear market. Tuesday INTC reports earnings, after the bell, if they are good, which I believe they will be, you will see a reversal of sentiment like you wouldn't believe, and those bearish analysts will be put back in the closet and the bullish ones will be taken out. I guess that's how the market is supposed to flow, but, in reality, you have to take analysts opinions with a grain of salt, and kind of like entertainment.
In my honest opinion I believe the analysts have scared every small investor from the High Tech sector and are putting all their preferred
big money investors in High Tech at dirt cheap prices. Look for, very soon, a tremendous rally in High Tech, especially the big guys CPQ, MSFT, DELL, INTC, AMAT, CSCO! Only one man's opinion.
Howie |
