All: Well, there was some early pullback in the Dow and S&P
but not much. And, the Nasdaq was in pretty good shape most
of the day. Sold my MSFT calls and I can say that it was one
of the worst trades I've had from a standpoint that I sold
them too early based on what MSFT did later. But, I never said
that I was just perfect in everything I do. Sometimes, I skip
a beat also.
But, I'm still in there with CSCO and SUNW. These two are
acting pretty well right now with CSCO in new high ground
and SUNW challenging previous minor top and all time high
minor top to follow.
Intel remarkably today did not do all that well - but up
some is better than nothing at all. Maybe, things will look
up tomorrow for it, but I'm making no predictions about
that. With Greenspan, "the Mouth," on the speaking circuit
again tomorrow - I'm not willing to bet on anything until he
is finished and his words are assessed. Meanwhile, we await
IBM's earnings to come out after the close on Tuesday and
CPQ will follow next. Both of these should really give some
indication of whether the PC industry is doing okay or it is
struggling.
The market indexes look okay still and don't appear to be
oversold to me. However, there continues to be some concern
that the daily highs are not expanding. A number of other
technicals are so-so also. A positive today was the Trans
Index thus giving the Dow Theorists reason to hope.
So, again my comments last night relating to an eventual
correction that may start immediately after IBM comes out
with its earnings or as I said on SI last night that could
be delayed for as much as a couple weeks more while the
other big techs get theirs out.
Good trading. Jack
Robert: I have a Compaq with what else - INTEL INSIDE! |
