SwingTrade Member Forum

[Wizard]

Nice take on tech stocks. By the way, the actual number is 16,000 (not 10,000) - just in the US alone.

http://gigaom.com/2009/07/18/a-tech-recovery-or-wishful-thinking/

"IBM not only spent $1.7 billion last quarter to buy back shares of its stock, but so far this year it’s laid off 10,000 of its workers. Layoffs are a brutal if effective way to weather a recession, but to say that IBM has turned a corner simply because it’s cutting costs faster than its revenue is falling doesn’t make sense.

I don’t mean to belittle what these companies have accomplished in the recession. But there is a sense among some investors and financial publications that a corner is being turned. It’s too early to start popping corks from champagne bottles. For that, we’ll need to wait until up once again looks like up."