Hey Spots! Long time no speak...lets chat soon!
Saw that post you url'd....hey, it happens to everyone, very few know that alternatives exists....it doesnt have to be just Datek or Goldman Sachs. My wife's name is Wax, thinking of renaming the firm Goldman Wax....lol...just kidding.
Anyway, as long as the person learns their lesson and doesnt let it happen again...
How I would play tommorrow:
1. I wouldnt be long anything going into the morning. These arent beaten down stocks at their lows, about to bounce up on bad news...they are much appreciated. I would expect to see INTC down 5, 6 points, dell 5 or 6 points, csco 3,4 etc.
It will probably take about 20 minutes to get all the stocks open, hwp, cpq, etc. The dow will start off dow 20, 40 etc. and accelerate as they get stocks open. dont take the down 20 at the open as hope yet, its just that the dow stocks arent all open.
I think you will see the market pull back 60, 100 points...then, After an initial bounce, more selling...I would start scoping around for buys at around 10:30, 11 for a second rally, but be out before 1, 2pm when more selling, traders dump.
Then maybe a 3 to 4pm rally.
Clearly, each day is unique and cant be scripted, but lets see how close this comes. I personally think this news is pretty serious becuase not only are these stocks at exceptionally high levels, this is a market leader, an untouchable, having troubles, signalling slowdowns. Nonetheless, remember last time INTC announced, backed down for a period then shot higher.
These are the morning you are thankful that you showed discretiona nd didnt take stocks home.
Regards,
steve@yamner.com
yamner.com |
