Zeev's Turnips Patch-No Politics (ZEEV)

[punkle]

I seem to remember this report always has a delayed reaction in the markets. Last month the July preliminary number of .97 was viewed positively and the semi's rallied into the number and after the number but it took a day to spike up hard.

Now that July has been revised down significantly, especially in bookings and August is far less than expected with all the chatter about getting a book-to-bill over 1.00, this news is no doubt disappointing.

I may short some SMH or 3 amigos tomorrow. This could be the catalyst for the pullback you have been expecting.