Zeev's Turnips Patch-No Politics (ZEEV)

[mlsoft]

A painful afternoon for the bears (read "me"), and after reading the BS CSCO report it looks like tomorrow morning at least will have more pain in store. CSCO turns in yet another huge charge off but hey, they beat the number using pro-forma fairy tales - I reiterate that CSCO is the poster child for cooked books and smoke and mirrors accounting, in my opinion.

Unfortunately, I was only stopped out of two positions this afternoon, but that was due to wide stops for the expected volatility -

Stopped out of QLGC @43.68 (-2.08) and CYMI @30.13 (-1.07). I suspect they will get more of them tomorrow.

I continue to believe that the rally is at or very near the end, but as long as they get help at every sign of selling, there is no way to know.

mlsoft