Hi IKE
I think your "straddle" idea makes sense to me<g>...However, I think the sox will see 250 before it sees 350...and yes we probably will rally after the next 2 Q's...But IKE the techs going into Apr earnings looking very weak to me...
MSFT did it's best to prop up the market, but I think they failed miserably...i listened to their CFO, he was hedging BIG time...As for Bellweather INTC, first Andy Grove is leaving, a BIG negative IMO, second i feel based on my own knowledge that they may cut back Cap Spending from their current record number of 5.4 billion...of course it's just a feeling of mine...
As for the SOX and semis & semi equips...I think they will ALL miss the number for this Q and WARN about the next Q, which I see as being worse than this one...
Japan is trying desperately to bolster their own economic debacle...By spending 125 billon on propping their stock market and their banks!!! Both of these ideas are BIG TIME BAD...IMO...it will never work...I've been saying Japan is the real potential problem in this area...I will wait to see how the markets and the world react....
I am cautious, but still very long at this moment..looking to exit to cash shortly...take profits quickly, and put together a game plan to short these semis at the frenzied TOP!!! There are still legs in the market, but how much I don't know...Oil will spike up next week, bonds will sell off, and we could see a nice correction right here...
Hey my guess is as good as anyone's<g>...After all it's just that!! a GUESS....There is plenty of money pouring into this market and will continue at least till Apr 15th...so we shall see HUH???
My Regards, Jerry |
