Mike, with all due respect, I think this week has gone fine also.
That is until today. The NASDAQ went flying and the sox index
was up 5+ and CYRIX hit 22 1/8 only to hit some sort of land mine
and come crashing down to 21 1/4 after 2:30. I can't understand
it? Everytime the Nasdaq has huge gains in one day, Cyrix is up
fractionally. It must have went up so steadily these past five days
that profit taking took over late in the day (Remember options
expiration this week) or it hit those automatic program sells at the
21 3/4 to 22 1/8 range. I didn't think that 22 would be too tough to
overcome, I thought the real hurdle would be 23; although I still
predict that we will see 23+ by the end of the week. Earnings will
be fine, so nobody worry, these past 5 days are an indication that
we will do fine come thursday. At least as good as ol' AMD.
But for the life of me, I can't understand why the market is taking
AMD like its the second coming of INTEL. Up 3+ again????
Their earnings were OK, I mean they did beat estimates but not
by all that much and they did lose over 20m. " YEAH, let's by
the heck out of that company." And then they get upgraded AGAIN-
short term buy rating, long term hold??? What's that four times in
the last month and a half?
Well stick around folks, cause if the last week (5 days) is any indication,
earnings will be good (relatively speaking....I have absolutely no fear
of that anymore), Compaq is coming (probably with some other Tier 1
friends), and so will the upgrades. Then it will be our moment in the
sun, and this board will have something to cheer about for a change.
STEVE |
